Tag: Private Equity
Best Life Brands buys Next Day Access
March 25, 2024HME News Staff
TROY, Mich. – Best Life Brands, a private equity owned franchise organization with a portfolio of brands serving the senior care market, has acquired Next Day Access, a provider of residential and commercial home access solutions across the United States and Canada.
By combining Next Day Access' operational excellence with Best Life Brands' extensive network and resources, including the support of Best Life Brands’ private equity owner, The Riverside Company, the companies...
Report: PE-backed companies bad for patients
November 16, 2023HME News Staff
WASHINGTON – A new report from the Private Equity Stakeholder Project and the National Disability Rights Network highlights the toll the PE business model has had on people who rely on durable medical equipment.
The report finds:
Private equity firms have increasingly bought up DME manufacturers and suppliers and consolidated them. Through aggressive debt-funded growth strategies, a handful of private equity-owned DME companies have grown from nonexistence to industry...
Green Prosthetics sells to Mobility Ideal Health Care
January 26, 2023HME News Staff
DALLAS – Generational Equity has announced that its client Green Prosthetics and Orthotics has sold to Mobility Ideal Health Care. "This was a deal where all the stars aligned perfectly,” Faraaz Ali, senior M&A advisor for Generational Equity. “Our client was a niche custom fabricator of prosthetic and orthotic devices that checked all of the investment criteria boxes of a strategic acquisition party that was consolidating in this space. Outside of the mutually beneficial structure...
PE firm invests in SG Homecare
June 17, 2022HME News Staff
BOSTON – Sverica Capital Management, a private equity investment firm, has made a strategic investment in SG Homecare, a Tustin, Calif.-based provider of DMEPOS to patients throughout the state.
SG specializes in using capitated contracts, serving a wide range of payers and risk-bearing provider groups, acting as a value-added partner to these organizations as they seek to provide high-quality care for their home-based populations.
“After an exhaustive search for the...
PE firm recaps StateServ Medical
November 22, 2021HME News Staff
NEW YORK – WindRose Health Investors, a New York-based private equity firm, has completed the recapitalization of StateServ Medical, a provider of DME benefit management solutions to the post-acute care market. WindRose partnered with StateServ’s executive team to recapitalize the business and to provide additional capital to support future growth, accelerating the next phase of the company’s expansion. "We are excited to partner with WindRose as StateServ enters its next phase...
AdaptHealth adds director to board
October 4, 2021HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth has appointed Greg Belinfanti to the company’s board of directors. Belinfanti is a senior managing director of One Equity Partners and will serve as the private equity firm’s designee on the board. “We appreciate OEP’s continued support and welcome Greg to the board of directors,” said Richard Barasch, chairman of the board. Belinfanti currently serves on the boards of Restorix Health and Ernest Health, and formerly served on...
Humana buys another home care provider
June 15, 2021HME News Staff
LOUISVILLE, Ky. – Humana has signed a definitive agreement to acquire onehome, a provider of a variety of home-based services, from WayPoint Capital Partners.
onehome has been operating a value-based model in Florida and Texas, and has served Humana members since 2015.
“At Humana, we are implementing a strategy to build a new value-based home health model that will improve patient outcomes, increase satisfaction for patients and providers, and provide greater value for...
Medline takes private investment
June 7, 2021HME News Staff
NORTHFIELD, Ill. – Medline Industries has entered into an agreement to receive a majority investment from a group of private equity firms, including Blackstone, Carlyle Group and Hellman & Friedman, worth a reported $30-plus billion.
Medline, which generated revenues of $17.5 billion in 2020, will use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global...
Justin Smith on growing 3B Medical the PE way
May 14, 2021Liz Beaulieu, Editor
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...
WellSky receives new investment from private equity investors
July 21, 2020HME News Staff
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...