Count hospital outsourcing among private equity’s bets for health care growth.
North Carolina cardiac services company Advanced Perfusion Care sold to SpecialtyCare in a deal that comes just days after Nashville, Tenn.-based SpecialtyCare secured a $123 million infusion from New York private equity firm American Securities.
SpecialtyCare disclosed the new financing in a June 3 securities filing.Financial terms of SpecialtyCare’s purchase of Pinehurst, N.C.-based APC were not disclosed.
APC’s services to hospitals include perfusion, in which a heart-lung machine maintains the circulation of blood throughout the body during heart surgery. APC serves 18 hospitals in six states and Washington, D.C.
APC considered various opportunities to better position the company prior to making a decision, president & CEO David Christaldi said in a statement. By joining SpecialtyCare, APC will "create efficiencies in the (operating room) beyond perfusion,” he said.
SpecialtyCare operates in more than 545 hospitals in 40 states, Washington, D.C., Puerto Rico and Germany. Following the $123 million in new financing from American Securities, SpecialtyCare could be scoping out additional acquisition targets that would further broaden its service offerings and footprint.
American Securities’ previous health care investments include Dr. Leonard’s, a direct retailer of home health care and convenience products for the "over 55" market; Miltex, a supplier of handheld surgical and dental instruments; and Healthy Directions, a direct marketer of branded nutritional supplements and health newsletters.
