Vesey Street Capital Partners (VSCP) has sold its portfolio company Imedex, a provider of accredited medical education, to HMP, a healthcare education and events company and a portfolio company of Susquehanna Growth Equity since 2008.
Imedex creates independent, accredited medical education with an emphasis in oncology, hematology, and gastroenterology. Imedex provides more than 50,000 e-learning experiences annually and since 2001, its live conferences have been attended by more than 100,000 healthcare professionals. The company is headquartered in Alpharetta, GA (www.imedex.com).
“Since our acquisition of Imedex in 2015, we and our Board worked hard with the company to develop and execute a strategy, to enhance focus, and to better leverage already existing assets. Now, following the significant progress we’ve made, we believe Imedex being part of the HMP family will position both companies well for many years to come,” said Adam Feinstein, Managing Partner of VSCP.
Vesey Street Capital Partners invests in healthcare related middle-market businesses that service hospitals, outpatient facilities, physicians and payors. Typical target companies will have EBITDA of $10 million to $25 million. The firm was founded in 2014 by Mr. Feinstein and is headquartered in New York (www.vscpllc.com).
“I’m grateful to the VSCP team for its guidance, hands-on approach, and deep healthcare industry experience which has contributed to Imedex’s success. I’m confident that the future is bright and very much look forward to the next chapter in partnership with HMP,” said Dan Lowrie, CEO of Imedex.
HMP owns and operates medical journals, trade publications, annual symposia, webcasts, regional meetings, and continuing medical education events for medical and healthcare professionals. HMP’s brands include Consultant, a monthly, award-winning journal relied upon by primary care providers; Psych Congress, the largest independent mental health meeting in the US; EMS World Expo, North America’s largest EMT and paramedic event; and the Symposium on Advanced Wound Care, the largest wound care meeting in the world. HMP is headquartered near Philadelphia in Malvern, PA (www.hmpholdings.com
The acquisition of Imedex strengthens HMP’s position as one of the top producers of healthcare events for the global healthcare community. The transaction marks a significant step for HMP in executing its “events first” strategy and expands the company’s footprint in global markets and in the healthcare verticals of oncology, hematology, and gastroenterology.
This is the second major acquisition for HMP this year. In February, the company announced it had acquired EMS World from Southcomm, which includes EMS World Expo, North America’s largest EMT and paramedic event, named one of the 50 fastest growing trade shows by Trade Show Executive magazine.
Susquehanna Growth Equity, which acquired HMP in 2008, is part of Susquehanna International Group, a privately held investment, trading and technology firm servicing securities markets worldwide. The group has approximately 1,800 employees and is headquartered in the Philadelphia suburb of Bala Cynwyd with additional offices in New York, Chicago, San Francisco, Philadelphia, Boston, Sydney, Dublin, Shanghai, Beijing and Hong Kong (www.sig.com).
© 2017 Private Equity Professional | September 6, 2017
