M&A Deal Summary

Formativ Health Acquires Etransmedia Technology

On January 12, 2017, Formativ Health acquired information technology company Etransmedia Technology from Peninsula Capital Partners and Praesidian Capital

Acquisition Highlights
  • This is Formativ Health’s 1st transaction in the Information Technology sector.
  • This is Formativ Health’s 1st transaction in the United States.
  • This is Formativ Health’s 1st transaction in New York.

M&A Deal Summary

Date 2017-01-12
Target Etransmedia Technology
Sector Information Technology
Buyer(s) Formativ Health
Sellers(s) Peninsula Capital Partners
Praesidian Capital
Deal Type Add-on Acquisition

Target

Etransmedia Technology

Troy, New York, United States
Etransmedia Technology, Inc. is a healthcare information technology company delivering comprehensive integrated software, service and connectivity solutions to simplify critical functions in the healthcare community. Etransmedia customers include some of the country’s leading healthcare systems and hospitals, as well as affiliated physician practices. With 400 employees, the company operates across 43 states and reaches more than 12,500 providers and 30,000 users.

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Buyer(S) 1

Buyer

Formativ Health

Jacksonville, Florida, United States

Category Company
Founded 2017
Sector Information Technology
DESCRIPTION

Formativ Health is a provider of Patient Access and scheduling center for physician and hospital networks. Formativ Health’s tech-agnostic services platform easily integrates with existing systems to help streamline operations, reduce leakage, improve insurance verification, and empower physicians to focus on keeping patients healthy. Formativ Health was formed in 2017 and is based in Jacksonville, Florida.


DEAL STATS #
Overall 1 of 1
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2017 M&A 1 of 1

Seller(S) 2

SELLER

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.


DEAL STATS #
Overall 34 of 49
Sector: Information Technology M&A 2 of 3
Type: Add-on Acquisition M&A Deals 17 of 23
State: New York M&A 3 of 3
Country: United States M&A 31 of 46
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-01 Shape Dynamics

Muskegon Heights, Michigan, United States

Shape Dynamics is a tooling manufacturer providing design, engineering, and production services to foundries and manufacturers serving the automotive, heavy equipment, military, agricultural, marine, appliance, and aerospace industries. Shape Dynamics is based in Muskegon Heights, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Allivet

Miami Lakes, Florida, United States

Allivet is an online retailer of pet pharma (prescription and non-prescription) and other health products, processing tens of thousands of orders annually in all 50 states and internationally. Allivet was established in 1992 and is based in Miami Lakes, Florida.

Buy -
SELLER

Praesidian Capital

Oklahoma City, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Praesidian Capital is a mezzanine debt provider for middle-market companies throughout the US and Europe. Praesidian looks to provide junior capital to businesses with revenues between $3 and $100 million and EBITDA between $250k and $20 million. Capital is typically used to support acquisitions, management/leveraged buyouts, recapitalizations, and restructurings. Praesidian will not invest in oil & gas exploration, financial services, real estate, or start-ups. Praesidian Capital was formed in 2002 and is based in New York City.


DEAL STATS #
Overall 18 of 32
Sector: Information Technology M&A 2 of 2
Type: Add-on Acquisition M&A Deals 8 of 12
State: New York M&A 3 of 4
Country: United States M&A 18 of 30
Year: 2017 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-10 Arc Machines

Pacoima, California, United States

ARC Machines, Inc. is in the development and manufacturing of automated orbital welding systems, including power supplies, weld heads, arc zone vision systems and related accessories for industrial and diverse infrastructure applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-09 PromptCare

New Providence, New Jersey, United States

PromptCare is a regional provider of specialty respiratory and infusion services. The Company combines high-tech equipment and infusion drug therapies with a tailored, -high-touch service approach to deliver superior patient care, and is a preferred partner of hospitals, physicians, and payors in managing complex medical conditions such as ALS, chronic lung conditions, and a number of nutritional and autoimmune deficiencies. PromptCare was founded in 1985 and headquartered in New Providence, New Jersey.

Sell -