Sterling Partners has acquired Surgical Solutions, a provider of support and equipment for surgical procedures.
Surgical Solutions provides hospitals and surgeons with support and equipment for endoscopic and laparoscopic surgical procedures. The company’s technicians provide preoperative room setup, intra-operative technical support, and postoperative room turnover. Surgical Solutions also purchases all laparoscopic instrumentation and creates surgeon specific sets, tailored to the surgeon’s individual needs and preferences. Other services include repairs and maintenance and technical support. Surgical Solutions was founded in 2007 by Eric Stinson and Alex Kellen and is headquartered in Henderson, KY (www.surgical-solutions.org).
“Only those innovative healthcare services companies that consistently deliver quality and value to patients at a lower cost to the system will have staying power in this industry,” said Danny Rosenberg, Managing Director at Sterling Partners. “Surgical Solutions is one of those companies.”
“Because Surgical Solutions provides a unique, niche service within the marketplace, we’ve become an industry leader by increasing efficiencies, boosting volume, and cutting costs, without sacrificing quality,” said Mr. Stinson. “But in order to scale our business and become the company we know we can be, we needed a partner. Sterling Partners not only brings an entrepreneurial mindset to the table, they also bring the financial and intellectual capital we need to reach our goals.”
Sterling Partners focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including education, healthcare, and business services. Sterling manages over $5 billion in institutional capital. The firm was founded in 1983 and has offices in Chicago, Baltimore, and Miami (www.sterlingpartners.com).
“Hospital administrators are eager to find new ways to save money while promoting ‘physician-friendly’ facilities and delivering the highest quality of care. That is exactly what Surgical Solutions allows them to do,” said Kim Vender Moffat, Principal at Sterling Partners. “We’re thrilled to partner with Eric Stinson and his team, to take what they’ve built and help them to further scale that service while not losing focus of the company’s founding mission and service orientation.”
Surgical Solutions is now the eighth company in Sterling’s active healthcare services portfolio, with an additional six companies previously exited.
© 2014 PEPD • Private Equity’s Leading News Magazine • 12-2-14
