M&A Deal Summary

AdaptHealth Acquires Solara Medical Supplies

On May 26, 2020, AdaptHealth acquired distribution company Solara Medical Supplies from Linden Capital Partners

Acquisition Highlights
  • This is AdaptHealth’s 2nd transaction in the Distribution sector.
  • This is AdaptHealth’s 5th transaction in the United States.
  • This is AdaptHealth’s 1st transaction in California.

M&A Deal Summary
Date 2020-05-26
Target Solara Medical Supplies
Sector Distribution
Buyer(s) AdaptHealth
Sellers(s) Linden Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Kirkland & Ellis (Legal)

Target

Solara Medical Supplies

Chula Vista, California, United States
Solara Medical Supplies LLC is an independent distributor of continuous glucose monitors (“CGM”) in the United States and offers a comprehensive suite of direct-to-patient diabetes management supplies to patients throughout the country, including CGMs, insulin pumps and other diabetic supplies. Solara Medical Supplies was founded in 2002 and is based in Chula Vista, California.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

AdaptHealth

Plymouth Meeting, Pennsylvania, United States
Category Company
Sector Medical Products
Employees10,700
Revenue 3.2B USD (2023)
DESCRIPTION

AdaptHealth is a provider of home healthcare equipment, medical supplies to the home and related services. AdaptHealth provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to life, and thrive. Product and services offerings include (i) sleep therapy equipment, supplies and related services (including CPAP and bi PAP services) to individuals suffering from obstructive sleep apnea, (ii) home medical equipment (HME) to patients discharged from acute care and other facilities, (iii) oxygen and related chronic therapy services in the home, and (iv) other HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy and nutritional supply needs. AdaptHealth is based in Plymouth Meeting, Pennsylvania.

DEAL STATS #
Overall 5 of 8
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 3 of 6
State (California) 1 of 1
Country (United States) 5 of 8
Year (2020) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-26 ActivStyle

Minneapolis, Minnesota, United States

ActivStyle, Inc. is a distributor of medical supplies and specializes in incontinence products. The company offers a wide array of incontinence and related products, fast shipment, monthly recurring home delivery, and customer service that makes life easier for home care patients and caregivers. ActivStyle was founded in 1996 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Aerocare

Orlando, Florida, United States

Aerocare is a provider of oxygen, respiratory, sleep, and other chronic therapy services to patients in the home. AeroCare's patients typically suffer from the chronic obstructive pulmonary disease (COPD), obstructive sleep apnea (OSA), or congestive heart failure (CHF) and require in-home therapy services. Aerocare Holdings, Inc. was founded in 2000 and is based in Orlando, Florida.

Buy $2.0B

Seller(S) 1

SELLER

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 19 of 27
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 9 of 12
State (California) 2 of 3
Country (United States) 19 of 27
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-15 CORE Institute

Phoenix, Arizona, United States

CORE Institute is a provider of healthcare solutions, care redesign, and service line management for musculoskeletal medical practices. The company was founded to fulfill a vision of excellence in patient care encompassing the entire spectrum of orthopedic and neurosciences care. CORE Institute was founded in 2005 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 ProPharma Group

Overland Park, Kansas, United States

ProPharma Group is a provider of medical information, pharmacovigilance, and compliance consulting services for clients in the pharmaceutical, biotechnology, and medical device industries. The Company’s Medical Information service includes responding to inquiries from patients and healthcare professionals in over 30 languages from five contact centers located around the world. Its pharmacovigilance service includes processing of post-marketing and clinical adverse events, aggregate reporting, and signal detection. ProPharma Group also provides an array of Compliance Consulting services to help its clients meet regulatory requirements across the product life cycle. Consulting services include quality assurance, process validation, commissioning and qualification, technology transfer, program management, computer system validation, and other related services. ProPharma Group was formed in 2001 and is based in Overland Park, Kansas.

Sell -
Mergr

Product

Company

Legal