Tag: private equity

WINTER HAVEN, Fla. – 3B Medical’s new CEO Justin Smith wants to grow the company to hit $100 million in revenues in the next few years.  Hear what Smith, whose background includes roles at Bear Stearns and ComVest Partners, had to say about how 3B Medical’s product pipeline and acquisition plans make it a company “with legs.”  HME News: What drew you to the health care industry and 3B Medical?  Justin Smith: I...

OVERLAND PARK, Kan. - WellSky and TPG Capital have entered into a definitive agreement to add Leonard Green & Partners, a private equity firm, as a new capital partner.As part of the agreement, TPG will also make a new equity investment in WellSky.The agreement will allow WellSky to expand the depth and breadth of its solutions, strengthen its relationships with its 15,000 payer and provider clients, and further invest in its capabilities, says Bill Miller, CEO of WellSky.“TPG and LGP are strongly...

MURFREESBORO, Tenn. - Virtue Technologies, a provider of post-acute healthcare technology solutions, has received an investment from Claritas Capital, a Nashville, Tenn.-based private equity firm. Virtue Technologies, created out of a joint venture between TwelveStone Health Partners and VirtueRN, says it addresses the fragmented market for communicating orders for medical equipment and medications to service providers and patients. “The delivery of post-acute care can often be quite challenging,”...

PORT WASHINGTON, N.Y. - Drive DeVilbiss Healthcare has agreed in principle to receive $35 million in new capital, together with a reduction in cash debt service obligations from its current lenders.The transaction has broad support from the substantial majority of Drive's first and second lien lenders, and includes new capital from its primary equity holders, according to a press release.“We are pleased with the strong demonstration of support that our stakeholders have shown to our business...

LOS ANGELES - Mini Pharmacy, a pharmacy specializing in providing diabetic supplies primarily to the California market, is now owned by Angeles Equity Partners. Mini was founded in 1980 and has been led by the Fox family. In conjunction with the transaction, Angeles will be installing a new executive team with pharmacy industry expertise “to drive a robust program of systems investment and operational modernization.” Richard Fox, however, will continue to lead Mini's commercial activities...

LOS ANGELES - St. Cloud Capital, a private equity firm based here, has announced a growth capital investment in AleraCare Holdings, a provider of home and community based healthcare and pharmacy services. AleraCare now comprises three companies: MedicoRx Specialty Pharmacy, a specialty and home infusion pharmacy serving the California market; Vasco Infusion, a physician healthcare practice with several ambulatory infusion centers serving the Arizona and northern California markets; and VascoRx Specialty...

BRENTWOOD, Tenn. - Numotion has confirmed that AEA Investors, a New York-based middle market private equity firm, will be its new owner. The complex rehab provider confirmed to HME News last week that it had signed a definitive agreement with a new private equity sponsor, but it did not name the sponsor. Numotion has been backed by Audax Private Equity and LLR Partners for six years. The Numotion deal marks a return to healthcare investment for AEA Investors, according to PE Hub Healthcare. The firm...

HARTFORD, Conn. - Lifeway Mobility, an accessibility solutions company started by former Numotion CEO Paul Bergantino, has received a “major investment” from Cleveland-based Rockwood Equity Partners.As part of the transaction, Rockwood will provide additional capital and resources to enable Lifeway Mobility to accelerate its plans to become the leading provider of accessibility and safety solutions for people with mobility challenges and those wishing to age in place, according to a press...

CLEVELAND - The Riverside Company, a global private equity company based here, has sold Specialized Medical Services to Lincare.Milwaukee-based SMS is a provider of respiratory equipment, logistics solutions and related medical products to long-term care centers like skilled nursing facilities.Under Riverside's hold, SMS's footprint grew to cover more than 45 states and 3,200 facilities, and its revenue grew more than seven times, according to the firm.Riverside initially entered the respiratory...

MURFREESBORO, Tenn. - TwelveStone Health Partners, a provider of pharmacy, infusion and enteral, respiratory and DME services, has secured $3.35 million in funding from Nashville, Tenn.-based private-equity firm Claritas Capital.“We have been wanting to accelerate our expansion plans for some time, and Claritas Capital offers the smart money, speed to market and accountability we had been looking for,” said Shane Reeves, CEO of TwelveStone.TwelveStone plans to use the funds to expand...