Solara Medical Supplies, a portfolio company of Linden Capital Partners since May 2018, has acquired J.M.R. Medical. This is the first add-on acquisition for Solara under Linden ownership.
J.M.R. Medical is a direct-to-patient provider of diabetic testing supplies and other durable medical equipment such as lift chairs, wheel chairs, walkers, canes, and beds. The company is headquartered south of Cleveland in Northfield, OH (www.jmrmedical.com). J.M.R. Medical is led by Joe and Maria Rogucki. Post-closing, Mr. Rogucki will remain active with Solara.
Solara Medical Supplies is a direct-to-patient distributor of diabetes therapy products including continuous glucose monitors, durable insulin pumps, and patch insulin pumps. The company was founded in 2002 and is headquartered in Chula Vista, CA with additional offices in Michigan, Texas, and Alabama (www.solaramedicalsupplies.com).
“We are excited to welcome JMR into the Solara family,” said Keith Crawford, CEO of Solara. “The addition of JMR broadens Solara’s reach into the Midwest and builds upon our commitment to providing outstanding service to our patients, suppliers and payors.” Mr. Crawford became CEO of Solara in May 2018 when Linden acquired the company. Previously he was the Senior Vice President of Operations and Chief Strategy Officer at Medical Specialties Distributors which was sold by New Mountain Capital to McKesson Corporation for $800 million on June 1, 2018.
“JMR is Solara’s first acquisition following its investment from Linden Capital Partners on May 31, 2018 and represents our strategy to enhance patient service, broaden our national reach and increase value for our manufacturer partners,” said Ron Labrum, Chairman of Solara and Operating Partner at Linden Capital Partners.
Linden Capital Partners is focused exclusively on leveraged buyouts in the healthcare and life science industries with a specific interest in medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Linden’s strategy is based on three elements: healthcare and life science industry specialization; integrated financial and operating expertise; and strategic relationships with large corporations. In May 2018, Linden closed its fourth private equity fund, Linden Capital Partners IV LP, at the hard cap of $1.5 billion. Fund IV was oversubscribed and exceeded its target of $1.25 billion. The firm is based in Chicago (www.lindenllc.com).
© 2018 Private Equity Professional | September 12, 2018