Revelstoke Capital Partners has sold its portfolio company Accelecare Wound Centers to Healogics, a portfolio company of Clayton, Dubilier & Rice.
Accelecare is the second largest provider of wound care services in the United States. The company operates 114 wound centers in outpatient hospital settings across 38 states. The company also operates a division that employs wound care physicians in skilled nursing homes and other long-term care settings. Accelecare is headquartered near Seattle in Bellevue, WA (www.accelecare.com).
“We are very pleased with the pace of Accelecare’s growth since we completed our investment in December 2013. Management’s focus on expanding the company’s footprint while increasing operational efficiencies created an attractive asset in the growing wound care market,” said Mark King, CEO, Managing Partner and Co-Founder of Revelstoke.
Revelstoke invests from $10 million to $250 million in companies that have at least $5 million of EBITDA. Sectors of interest include healthcare services and products; transportation and logistics; specialty distribution; energy and energy services; building products; business and outsourced services; marketing services; financial services; industrial services; and medical technology. The firm is headquartered in Denver (www.revelstokecp.com).
Healogics, acquired by Clayton, Dubilier & Rice in May 2014, is the nation’s largest provider of advanced wound care services. Healogics and its affiliated companies manage nearly 600 wound care centers and saw more than 234,000 patients in 2014. Healogics is headquartered in Jacksonville (www.healogics.com).
“Accelecare has an exceptional market position and brand reputation in the wound care industry. We see incredible value in this acquisition, through which the combined business will benefit from increased operational scale enabling us to reach and heal more patients with chronic wounds,” said Jeff Nelson, CEO of Healogics.
Accelecare was represented by RBC Capital Markets and Fenwick and West. Debevoise and Plimpton represented Healogics in the transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-4-15
