Vicente Acquires Precision Diagnostic Systems and SleepEasy Therapeutics
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Vicente Acquires Precision Diagnostic Systems and SleepEasy Therapeutics

MedBridge Healthcare, a portfolio company of Vicente Capital Partners, has acquired Precision Diagnostic Systems, a provider of sleep disorder services, and SleepEasy Therapeutics, a provider of sleep disorder products.

These acquisitions extend MedBridge Healthcare’s geographic footprint into Minnesota, North Dakota, South Dakota, Illinois, Iowa, Michigan, and Wisconsin, making the company the second largest provider of sleep diagnostic services and respiratory therapy services in the United States.

Precision Diagnostic Systems (PDS) is a provider of sleep disorder diagnosis and testing services. The company was founded in 1998 and is based in Fargo, ND (www.pdssleep.com).

SleepEasy Therapeutics (SET) is a provider of continuous positive airway pressure products (CPAP) including nasal masks, tubing and related accessories. The company operates stores in Fargo and Grand Forks, ND; Sioux Falls, SD; and St. Cloud, MN (www.sleepeasyrx.com).

“We are very excited about MedBridge’s acquisition of these two companies. The combined businesses complement each other very well and the acquisition solidifies MedBridge’s position as one of the largest healthcare platforms in the sleep disorder and continuous positive airway pressure products therapy market,” said Klaus Koch, Managing Partner of Vicente Capital Partners and Chairman of the Board of MedBridge Healthcare. “Matt Mellott and the team at MedBridge have been laser focused on the buy and build strategy that they laid out when we partnered with them to acquire MedBridge, and we are pleased to be able to support them.”

MedBridge Healthcare was acquired by Vicente Capital Partners in 2008 and is a provider of diagnostic services and respiratory therapy services for patients with Obstructive Sleep Apnea (OSA) and other sleep disorders. The company provides services for patient identification, testing, diagnosis, treatment, and long-term care management of OSA patients. The company was founded in 2004 and is based in Greenville, SC (www.medbridgehealthcare.com).

Vicente Capital Partners makes non-control and control investments in businesses that have annual revenues between $5 million and $50 million. Sectors of interest include business services (outsourced services, Internet services, telecom services); consumer services (healthcare services, residential delivery, education); and specialty manufacturing (aerospace & defense, environmental products, networking/telecom equipment). The firm is based in Los Angeles (www.vicentecapital.com).

“This was truly a unique opportunity to acquire two of the premier businesses in the sleep diagnostic and CPAP therapy management market in the Midwest,” said Matt Mellott, President of MedBridge Healthcare. “We are very excited about the potential to leverage the platform that we have built at MedBridge and the talent and resources at PDS and SET to continue to meet the needs of the 50 million Americans that have sleep disorders.”

© 2013 PEPD • Private Equity’s Leading News Magazine • 5-1-13

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