M&A Deal Summary

Fulcrum Equity Partners, Harbert Mezzanine Capital, MedEquity Capital and Gemino Healthcare Finance Acquire EnduraCare Acute Care

On October 12, 2009, private equity firm Fulcrum Equity Partners, mezzanine finance firm Harbert Mezzanine Capital, private equity firm MedEquity Capital and Gemino Healthcare Finance acquired healthcare services company EnduraCare Acute Care

Acquisition Highlights
  • This is Fulcrum Equity Partners’ 2nd, Harbert Mezzanine Capital’s 1st, MedEquity Capital’s 4th and Gemino Healthcare Finance’s 1st transaction in the Healthcare Services sector.
  • This is Fulcrum Equity Partners’ 4th, Harbert Mezzanine Capital’s 3rd, MedEquity Capital’s 7th and Gemino Healthcare Finance’s 1st transaction in the United States.
  • This is Fulcrum Equity Partners’ 2nd, Harbert Mezzanine Capital’s 1st, MedEquity Capital’s 1st and Gemino Healthcare Finance’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2009-10-12
Target EnduraCare Acute Care
Sector Healthcare Services
Buyer(s) Fulcrum Equity Partners
Harbert Mezzanine Capital
MedEquity Capital
Gemino Healthcare Finance
Deal Type Recapitalization

Target

EnduraCare Acute Care

Franklin, Tennessee, United States
EnduraCare Acute Care provider of therapy program management for hospitals. EnduraCare Acute Care provide this management in all venues including Inpatient Rehab Units (“IRU” or “IRF”), Skilled Nursing Units (“SNU,” “SNF,” or swing beds), outpatient departments, and inpatient acute. EnduraCare Acute Care was founded in 1981 and is based in Franklin, Tennessee.

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Buyer(S) 4

Buyer

Fulcrum Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fulcrum Equity Partners is an investment firm focused on smaller growth companies in the Southeast US. Fulcrum looks to invest $5 to $35 million in businesses generating $3 to $50 million in annual sales. Funds are used to support growth initiatives, acquisitions, divestures, shareholder liquidity, management buyouts and recapitalizations. Sectors of interest include healthcare, IT, business services, and technology-enabled services. Fulcrum Equity Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 4 of 39
Sector: Healthcare Services M&A 2 of 10
Type: Recapitalization M&A Deals 1 of 2
State: Tennessee M&A 2 of 6
Country: United States M&A 4 of 39
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-29 Gemino Healthcare Finance

Philadelphia, Pennsylvania, United States

Gemino Healthcare Finance LLC is a provider of asset based and term financing solutions for small to mid-size healthcare service providers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-01 Integrated Surgical Solutions

Alpharetta, Georgia, United States

Integrated Surgical Solutions is a provider of surgical cost management solutions, working with health plans, providers, surgical facilities, device manufacturers, and patients across the country to improve quality and reduce costs for surgical procedures through optimization of the most effective site of care and device selection, resulting in more affordable high-quality care to consumers. Integrated Surgical Solutions was formed in 2004 and is based in Alpharetta, Georgia.

Sell -
DESCRIPTION

Harbert Mezzanine Capital is the junior capital investment arm of asset manager Harbert Management Corporation. Harbert Mezzanine looks to invest $3 to $15 million of subordinated debt to support growth needs, acquisitions, recapitalizations, or management buyouts of mid-sized companies throughout the US. Harbert Mezzanine Capital is based in Nashville, Tennessee.


DEAL STATS #
Overall 3 of 28
Sector: Healthcare Services M&A 1 of 4
Type: Recapitalization M&A Deals 1 of 7
State: Tennessee M&A 1 of 6
Country: United States M&A 3 of 28
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Global Connection

Atlanta, Georgia, United States

Global Connection of America is a licensed Competitive Local Exchange Carrier (CLEC) involved in providing prepaid services to the underserved "unbanked" and "undercredited" market. Global Connection was founded in 1998 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 Doctor’s Choice Home Care

Sarasota, Florida, United States

Doctor’s Choice Home Care is a medicare certified home health agency. Doctor’s Choice Home Care was founded in 2007 and is based in Sarasota, Florida.

Buy -
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 STATS #
Overall 7 of 15
Sector: Healthcare Services M&A 4 of 10
Type: Recapitalization M&A Deals 2 of 5
State: Tennessee M&A 1 of 1
Country: United States M&A 7 of 15
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-14 Decision Management International

Bradenton, Florida, United States

Decision Management International, Inc. is a provider of software and associated consulting services for complexity reduction for FDA-regulated industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-10 AppleCare Doctors

Savannah, Georgia, United States

AppleCare Immediate Care is a provider of urgent care and immediate care services to patients in the southeastern United States. AppleCare Immediate Care was founded in 2004 and is based in Savannah, Georgia.

Buy -
Buyer

Gemino Healthcare Finance

Philadelphia, Pennsylvania, United States

Category Company
Sector Financial Services
DESCRIPTION

Gemino Healthcare Finance LLC is a provider of asset based and term financing solutions for small to mid-size healthcare service providers.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Tennessee M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2009 M&A 1 of 1