Specialized Medical Services, a portfolio company of The Riverside Company, has acquired Premier Medical Corporation, a provider of rental respiratory equipment and related services. This is the fourth add-on to Specialized Medical Services completed by Riverside.
“Premier is an organization that Specialized Medical Services has known for a long time and that shares our focus on delivering a high level of customer service,” said Riverside Managing Partner Loren Schlachet. “That should make for a smooth transition while it continues to expand the leadership position of Specialized Medical Services nationally.”
Premier Medical Corporation is a provider of rental respiratory equipment, liquid oxygen, durable medical equipment and related services to skilled nursing facilities and hospices in Colorado, New Mexico and Wyoming. The company is based in Denver, CO (www.premiermedicalcorp.com).
Specialized Medical Services (SMS) provides respiratory equipment, oxygen and related products and services to nursing homes and hospices throughout the U.S. Services provided include respiratory equipment, comprehensive oxygen services, disposable supplies, along with clinical, billing and consulting services. The company’s client base covers more than 40 states and 2,000 facilities, including 12 of the 20 largest nursing home chains in the country. The company is based in Milwaukee, WI (www.specializedmed.com).
“SMS is clearly the leading provider of oxygen, equipment and related services to nursing homes and hospice providers in the country,” said Riverside Principal Jack Nestor. “Our size and scale combined with our focus on customer service and experience allow us to meet the critical needs of our customers all across the U.S.”
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $200 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 295 transactions with a total enterprise value of more than $6 billion. The firm is headquartered New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
Working with Mr. Schlachet and Mr. Nestor on the transaction for Riverside were Operating Partner Dave Logan, Assistant Vice President Dan Haynes, Associate Grady McConnell, and Finance Director Dave Pecore.
PNC and Medley Capital provided financing for the transaction, Jones Day was Riverside’s legal counsel, and Deloitte & Touche advised Riverside on financial due diligence.
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-17-12