Kinderhook Industries has acquired GlobalHealth, an Oklahoma health maintenance organization (HMO). GlobalHealth is Kinderhook’s seventh healthcare platform investment and eighteenth purchase in the healthcare services space, including add-on acquisitions.
GlobalHealth is an HMO serving over 40,000 individuals, employers, Medicare beneficiaries, federal employees, and state, education and municipal government employees, in Oklahoma. GlobalHealth is one of five companies offering health plan options on the Federal Healthcare Marketplace in Oklahoma. The company is headquartered in Oklahoma City and has an additional office in Tulsa (www.globalhealth.com).
“We are excited about our new partnership with Kinderhook which will enable us to expand our affordable health plans to more citizens in Oklahoma,” said Scott Vaughn, CEO of GlobalHealth. “Our mission is to make quality healthcare more affordable for the communities we serve. The Kinderhook team shares our strategic vision of bringing our unique healthcare delivery model to more Oklahomans and creating more consumer choices in the marketplace.”
Kinderhook Industries makes control investments in companies with transaction values of $10 million to $75 million in which the firm can achieve financial, operational and growth improvements. The firm pursues private equity investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations and existing small capitalization companies lacking institutional support. The firm, founded in 2003, has $770 million of committed capital and is based in New York (www.kinderhook.com).
“Under Scott’s leadership, GlobalHealth has served its members very well and has made great strides toward bending the healthcare cost curve through its common sense approach to healthcare delivery,” said Chris Michalik, Managing Director at Kinderhook. “The combination of GlobalHealth’s unique delivery model and the significant changes to the US healthcare industry creates a tremendous opportunity for GlobalHealth to offer affordable health plans to more citizens in Oklahoma. We are very excited to partner with Scott and his management team and to accelerate the success of GlobalHealth.”
Allegiance Capital Corporation (www.allcapcorp.com) served as financial adviser to GlobalHealth.
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-3-14