Buyout (LBO, MBO, MBI) • Healthcare Services

MedEquity Capital, Webster Equity Partners and Halpern Denny & Co. Acquire Oncure Medical

On July 7, 2003, private equity firms MedEquity Capital, Webster Equity Partners and Halpern Denny & Co. acquired healthcare services company Oncure Medical for 12M USD

Acquisition Context
  • This is MedEquity Capital’s 2nd, Webster Equity Partners’ 1st and Halpern Denny & Co.’s 2nd transaction in the Healthcare Services sector.
  • This is MedEquity Capital’s 3rd, Webster Equity Partners’ 5th and Halpern Denny & Co.’s 6th largest (disclosed) transaction.
  • This is MedEquity Capital’s 5th, Webster Equity Partners’ 1st and Halpern Denny & Co.’s 9th transaction in the United States.
  • This is MedEquity Capital’s 1st, Webster Equity Partners’ 1st and Halpern Denny & Co.’s 1st transaction in Colorado.
Investment Fate
  • Oncure Medical was sold to a consortium of financial buyers in 2006.

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M&A Deal Summary

Date July 7, 2003
Target Oncure Medical
Sector Healthcare Services
Buyer(s) MedEquity Capital
Webster Equity Partners
Halpern Denny & Co.
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 12M USD

Target Company

Oncure Medical

Englewood, Colorado, United States
Oncure Medical Corp. owns, operates and manages treatment centers exclusively focused on providing the most state-of-the-art radiation treatment alternatives. Oncure partners with radiation oncologists to support leading edge cancer care at its treatment centers, and provides its physicians and hospital partners with capital, management and clinical expertise.
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Buyers Overview 3

Buyer

MedEquity Capital

Wellesley Hills, Massachusetts, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Middle-Market
Type Sector Focused
DESCRIPTION

MedEquity Capital LLC is a specialist private equity firm that invests in mid- to late-stage healthcare service and product companies. MedEquity's focus within healthcare services includes provider based services, out-sourced non-core services, infrastructure-focused businesses, product companies with low technology risk, and technology driven service companies. MedEquity will consider both control and non-control investments and looks invest between $5 and $30 million per transaction. Investment funds are typically used to support recapitalizations, acquisitions, and growth. MedEquity Capital LLC was formed in 2002 and is based in Wellesley Hills, Massachusetts.


Deal Context for Buyer #
Overall 5 of 15
Sector: Healthcare Services 2 of 10
Type: Buyout (LBO, MBO, MBI) 4 of 8
State: Colorado 1 of 2
Country: United States 5 of 15
Year: 2003 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-10 EnduraCare Therapy Management

Las Vegas, Nevada, United States

EnduraCare Therapy Management, Inc. provides contract therapy care to America's premier hospitals, long-term care facilities, and physician groups.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-25 Crescent Healthcare

Anaheim, California, United States

Crescent Healthcare, Inc. is a distributor of specialty pharmaceutical products. The company operates eight pharmacy locations in California and Florida and serves patients nationwide. The company delivers care through the implementation of innovative partnerships with health plans, hospitals, and medical groups to manage patient populations to the best clinical and financial outcomes.

Buy -
Buyer

Webster Equity Partners

Waltham, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 6.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Webster Capital is a private equity firm that targets growth capital and buyout investments in profitable, middle-market healthcare and consumer companies. Prospective business characteristics of interest include differentiated products or services, distinctive brands, and loyal/repeat customers. Webster looks for companies generating sales of $20 to $200 million, EBITDA of $5 to $20 million, and valued up to $200 million. Webster Capital was formed in 2003 and is based in Waltham, Massachusetts.


Deal Context for Buyer #
Overall 1 of 49
Sector: Healthcare Services 1 of 22
Type: Buyout (LBO, MBO, MBI) 1 of 26
State: Colorado 1 of 2
Country: United States 1 of 47
Year: 2003 1 of 1
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-31 Vacation.com

Alexandria, Virginia, United States

Vacation.com is a leisure travel marketing organization serving a network of thousands of travel agency locations throughout the U.S. and Canada. Vacation.com provides a portfolio of marketing and technology-driven solutions for agencies to manage and expand their client base.

Sell $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Team Express Distributing

San Antonio, United States

Team Express is the leading multi-channel marketer of baseball and football related equipment. The Company, started in 1990, has been dedicated to providing fanatical customer service and ease of shopping to the baseball and softball players who demand the best performance products

Sell -
Buyer

Halpern Denny & Co.

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Halpern, Denny & Co. is a private equity investment firm that targets management buyouts and high growth, late stage expansion financings. In general, investments range between $5 million to $50 million per portfolio company. Investments less than $5 million are considered if the potential for return is either very high or if there is a follow-on investment opportunity. Moreover, investments up to $100 million can be completed with Halpern Denny co-investors. Industries of particular interest to Halpern, Denny & Co. include consumer, media/communications, distribution, specialty manufacturing, and healthcare. Halpern, Denny & Co. was formed in 1991 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 9 of 11
Sector: Healthcare Services 2 of 3
Type: Buyout (LBO, MBO, MBI) 6 of 7
State: Colorado 1 of 1
Country: United States 9 of 11
Year: 2003 1 of 1
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-10 EnduraCare Therapy Management

Las Vegas, Nevada, United States

EnduraCare Therapy Management, Inc. provides contract therapy care to America's premier hospitals, long-term care facilities, and physician groups.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Team Express Distributing

San Antonio, United States

Team Express is the leading multi-channel marketer of baseball and football related equipment. The Company, started in 1990, has been dedicated to providing fanatical customer service and ease of shopping to the baseball and softball players who demand the best performance products

Buy -