Halifax Group Partners with Management to Recapitalize PromptCare
WASHINGTON, DC and CLARK, NJ – MARCH 9, 2017 – The Halifax Group (“Halifax”) announced today that it has completed, in partnership with management, an investment in The PromptCare Companies, Inc. (“PromptCare” or the “Company”), a leading regional provider of respiratory and infusion services. Terms of the transaction were not disclosed.
PromptCare, headquartered in Clark, NJ, serves pediatric and adult patients across the Mid-Atlantic and Northeastern United States. The Company combines high-tech equipment and infusion drug therapies with a tailored, high-touch service approach to deliver superior patient care. The Company is a preferred partner of hospitals, physicians, and payors in managing complex medical conditions such as ALS, chronic lung conditions, and autoimmune deficiencies. PromptCare serves more than 1,500 ventilation patients and more than 1,400 infusion patients from 17 locations.
The management team, including CEO Tom Voorhees, will remain with the company and will maintain a minority investment.
“Halifax has long sought out unique opportunities in the health and wellness sector, and we are excited by PromptCare’s differentiated platform that serves the most challenging medical cases and patient populations,” said Scott Plumridge, Partner at Halifax. “The respiratory and infusion markets are exhibiting strong growth trends as the healthcare industry continues to focus on reducing overall costs and improving patient care and convenience. We look forward to partnering with Tom and his team to execute our shared strategy for success.”
“We are excited to partner with Halifax as we expand the PromptCare network,” said Mr. Voorhees. “Their extensive financial and operational resources, along with their substantial experience in healthcare services, will be an invaluable resource as we introduce new products, move into new territories, and focus on building our platform.”
About PromptCare
The PromptCare Companies, Inc. (www.promptcare.net) is a leading regional provider of specialty respiratory and infusion services. Established in 1985 and headquartered in Clark, NJ, PromptCare serves pediatric and adult patients across the Mid-Atlantic and Northeastern United States. The Company 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 such as ALS, chronic lung conditions, and autoimmune deficiencies. PromptCare currently serves more than 1,500 ventilation patients and more than 1,400 infusion patients from 17 locations.
About The Halifax Group
The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and grow lower middle-market businesses across a variety of industries, including health and wellness, infrastructure, business services, and franchising. The firm maintains offices in Washington, D.C.; Dallas, TX; and Raleigh, NC. For more information, please visit www.thehalifaxgroup.com.
Contact
Caroline Luz
Owen Blicksilver Public Relations, Inc.
203-656-2829
caroline@blicksilverpr.com
