Edgemont closes second infusion services transaction in last two months
NEW YORK--(BUSINESS WIRE)--Edgemont Partners (“Edgemont”), a premier healthcare investment bank and a leading M&A and capital raising advisor exclusively serving healthcare companies, announced that it acted as exclusive financial advisor in the sale of Precision Healthcare (“Precision” or “the Company”) to IVX Health. Precision was a division of BAI Healthcare Services, a portfolio company of EW Healthcare Partners. The terms of the transaction, which closed on October 14, 2020, were not disclosed. Edgemont’s deal team included David Blume, Managing Director, Patrick Bradley, Director, David Murphy, Associate, and John O’Malley, Analyst.
Precision, headquartered in Nashville, TN, is a leading provider of infusion and injection therapy for patients with autoimmune disorders and complex chronic conditions for over 20 years. The Company operates 12 infusion centers across Tennessee and northern Arkansas, employing a team of dedicated and highly skilled nurses, nurse practitioners, and other clinicians who administer biologic infusion and injection therapies. Through the commitment to high-quality, personalized care, Precision has built a strong reputation within its community of patients and referring specialist physicians.
Brian Smith, COO at BAI Healthcare Services and President of Precision Healthcare, said, “Precision's depth of infusion experience and clinical expertise – paired with our physical footprint of centers in Tennessee and northern Arkansas – creates immediate value for our now united organizations. Simply put, IVX and Precision are better together.”
IVX Health is a leading provider of infusion and injection therapy for those with complex chronic conditions such as rheumatoid arthritis, Crohn’s disease, multiple sclerosis, and other conditions. The acquisition of Precision accelerates IVX Health's national growth strategy, improving access for patients by adding to its already expansive footprint in the southeast. With the completion of the acquisition, IVX Health is now one of the largest providers of infusion and injection therapy, operating over 40 ambulatory infusion centers across the United States. Precision's corporate operations will rebrand as IVX Health immediately, with plans to rebrand designated Precision sites over the next year.
The acquisition financing was led by a preferred equity investment from Linden Capital Partners – a Chicago-based private equity firm focused exclusively on the healthcare sector – and joined by existing institutional investors McKesson Ventures, Health Velocity Capital, and Nueterra Capital. EW Healthcare Partners is the lead investor in BAI Healthcare Services. Prior to the transaction, Precision Healthcare operated as a wholly owned subsidiary of BAI Healthcare Services.
Commenting on Edgemont’s performance as exclusive financial advisor to the Company, Kyle Motley, CFO at BAI Healthcare Services and Precision Healthcare, said, “Edgemont’s strong infusion services and transaction expertise guided us through the sale process culminating with the selection of IVX Health as the best strategic partner for our business and its shareholders.”
Precision’s acquisition by IVX Health is Edgemont’s second closed infusion services transaction in the past two months, having advised Paragon Healthcare in its sale to an affiliate of Peak Rock Capital in September.
About Precision Healthcare
Precision Healthcare delivers highly skilled, clinically advanced infusion care in the home or in an ambulatory infusion center, including acute and chronic therapies for patients. Precision Healthcare manages 12 ambulatory infusion centers that offer patient centric, provider driven and clinically advanced infusion services. The Company’s state-of-the-art infusion centers are conveniently located in Arkansas and throughout Tennessee.
About IVX Health
IVX Health is a national provider of infusion and injection therapy for those with complex chronic conditions such as rheumatoid arthritis, Crohn’s disease, multiple sclerosis and other conditions.
IVX Health’s national footprint of outpatient infusion centers are conveniently located in the communities where patients live and work. IVX Health’s experience-first model includes amenities such as flexible appointment scheduling with evening and weekend availability, guaranteed private suites, high-speed Wi-Fi, flat screen TVs with streaming TV and movies, and comfortable recliners with room for guests.
About Edgemont Partners
Now in its 20th year, Edgemont ranks among the most active and best performing independent healthcare M&A and financial advisors in the U.S. We focus solely on providing expert strategic advice and transaction execution to healthcare and life sciences companies, bringing a steadfast commitment to our clients, driven always to prioritize their best interests. Edgemont’s principals have executed 170+ transactions with an aggregate value of $65 billion+.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.
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