Highlander Partners has sold its portfolio company, Martin, Fletcher, to Parallon Business Solutions, a subsidiary of HCA Holdings.
Martin, Fletcher is a provider of locum tenens and permanent placement healthcare staffing services. It has served over 2,000 hospitals and clinics nationwide since its founding in 1999. The company is headquartered in Irving, TX (www.martinfletcher.com).
Highlander made its investment in Martin, Fletcher in 2005, when the company was focused predominantly on permanent placements of physicians and nurses. Since acquisition, Highlander oversaw the firm’s successful expansion into locum tenens that began in 2008 and continued through the downturn in the economy.
Parallon Business Solutions was formed by HCA in June 2011 to provide business services to the healthcare industry. Services include group purchasing, staffing management, supply chain, project management, revenue cycle and other business processes. The company is based in Franklin, TN (www.parallon.net).
HCA is a provider of healthcare services comprised of locally managed facilities that includes about 163 hospitals and 110 freestanding surgery centers in 20 states and England and employing approximately 199,000 people. The company was founded in 1968 and is based in Nashville (www.hcahealthcare.com).
Highlander Partners makes investments in middle market businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Sectors of interest include healthcare, basic manufacturing, food, and building materials. The firm has over $400 million in capital under management and is based in Dallas, TX (www.highlander-partners.com).
“We have supported Martin, Fletcher’s growth plans through the economic downturn and we are very pleased to see the exceptional growth achieved by the company in the locum tenens sector. We believe that Martin, Fletcher’s combination with Parallon will bring tremendous benefits to both organizations and will allow Martin, Fletcher to expand the scope of its operations,” said Alex Guiva, Partner at Highlander and former Board Member of Martin, Fletcher.
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-12-12