Satori Capital has invested in Longhorn Health Solutions, a direct-to-home provider of consumable medical supplies.
Longhorn Health Solutions is a direct-to-home provider of consumable medical supplies, durable medical equipment, and pharmaceutical prescriptions serving the Medicaid, Medicare, and privately insured populations across Texas. The company has 150 employees and ten branch locations in Austin, Beaumont, Corpus Christi, El Paso, Fort Worth, Harlingen, Houston, Lubbock, San Antonio, and Waco. Longhorn Health Solutions is headquartered in Austin
(www.longhornhealth.com) and (www.lhsrx.com).
“Longhorn is intently focused on reducing total cost-of-care for managed care organizations by streamlining billing processes, improving patient utilization and compliance, enhancing product quality, and heightening transparency throughout the patient, provider, and payor ecosystem,” said Sunny Vanderbeck, Managing Partner at Satori. “We believe in the team’s service-based approach, and look forward to partnering with them to further serve the growing needs of their stakeholders.”
Britt Peterson, founder and CEO of Longhorn, will continue to lead the company. “Longhorn has earned a reputation for excellence through its reliable performance, dedicated customer service, statewide presence, and commitment to integrity and kindness across everything that we do,” said Mr. Peterson. “Our partnership with Satori provides access to a deeper network of healthcare expertise, a valuable collection of operational best practices, and ample resources for both organic expansion and growth via acquisition. Collectively, these resources strengthen Longhorn’s ability to provide higher quality products and services that improve patient outcomes, while also providing manufacturers with cost-effective access to a highly fragmented home health patient base.”
The Brookside Group provided debt financing for the transaction and Allegiance Capital Corporation acted as the exclusive financial advisor to Longhorn.
Satori Capital invests in companies that have revenue of $25 million to $200 million and free cash flow of $3 million to $15 million. Sectors of interest include business services; consumer products; e-commerce; financial services; manufacturing; and mature software/IT/telecom. The firm is based in Dallas (www.satoricapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-21-13