PromptCare

Company Overview

PromptCare is a leading regional provider of specialty respiratory and infusion-therapy services. Established in 1985 and headquartered in New Providence, New Jersey, PromptCare serves pediatric and adult patients across the Mid-Atlantic and Northeastern United States. PromptCare combines high-tech equipment and infusion drug therapies with a tailored, high-touch service approach to deliver superior patient care, and is a preferred partner of hospitals, physicians, and payors in managing complex medical conditions.

Opportunities

• Partner with a talented team of industry veterans to support a buyout of PromptCare from its previous private equity owner
• Leverage PromptCare’s sterling reputation with referral sources, patients, and payors to drive expansion into new geographies, therapies, and care settings

Key ValuFactors Initiatives

• Executed a strategic shift to focus on specialty infusion therapies that treat chronic conditions, while addressing a larger super-regional footprint across all business lines
• Recruited three outside directors to the Board to serve as advisors to the executive team and upgraded financial reporting, compliance and technology suites to support the platform
• Drove supply chain efficiencies with a strategic procurement initiative
• Supported organic growth, launching eight de novo locations, an ambulatory infusion suite, and established a specialty pharmacy from scratch, achieving more than $20 million in revenue
• Completed four strategic add-on acquisitions to address new therapeutic and geographic markets

Outcome

Halifax and management grew PromptCare’s revenue by more than 100% and EBITDA by more than 150% through organic measures and acquisitions.

In September 2021, Halifax successfully exited the investment through a sale to management and a financial sponsor.