Pamlico Capital has acquired a majority interest in Valued Relationships, a provider of telehealth monitoring. CEO Chris Hendriksen and President Andy Schoonover will retain significant ownership of the company and will continue to manage Valued Relationships. The investment by Pamlico was made through the firm’s third fund.
“Having invested in several related healthcare businesses over time, we were immediately impressed with the company’s high quality service offering, unique channel strategy and focus on improving outcomes for a growing demographic of elderly, ill and disabled clients,” said Pamlico Partner Art Roselle. “We are thrilled about the opportunity to partner with Chris and Andy and look forward to working with the VRI team to grow the business.”
Valued Relationships, Inc. (VRI) is a provider of telehealth monitoring, monitored medication adherence services, and medical alert systems, serving over 100,000 actively monitored clients. VRI’s services enable seniors, the chronically ill, and those with disabilities to maintain their independence and to avoid long-term care facilities, preventable ER use, hospitalization and hospital readmission. The company’s Care Center processes over two million medical alert and telehealth signals annually. VRI serves clients across the United States through commercial and government-funded health benefit programs administered by national and regional health plans, and other Managed Care Organizations. VRI was founded in 1989 and is headquartered in Franklin, OH (www.monitoringcare.com).
“Andy and I are proud of the growth and success that the business and our employees have achieved and are excited about taking this next step with Pamlico,” said CEO Chris Hendriksen. “The team at Pamlico has significant knowledge of our business and a strong appreciation for VRI’s core goal of helping to extend and improve quality of life for our clients.”
Pamlico Capital invests from $25 million to $100 million in companies with total enterprise values of between $50 million and $250 million. Sectors of interest include business and technology services, communications, and healthcare. Pamlico Capital currently manages over $2 billion in assets and is based in Charlotte, NC (www.pamlicocapital.com).
VRI was advised by Triple Tree (financial advisor) and McDermott Will & Emery (legal counsel). Pamlico was advised by Alston & Bird LLP (legal counsel).
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-4-14