Merger • Healthcare Services

Healogics Acquires Diversified Clinical Services

On November 30, 2011, Healogics acquired healthcare services company Diversified Clinical Services from The Edgewater Funds, TJC and Bolder Capital

Acquisition Context
  • This is Healogics’ 1st transaction in the Healthcare Services sector.
  • This is Healogics’ 1st transaction in the United States.
  • This is Healogics’ 1st transaction in Florida.

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M&A Deal Summary

Date November 30, 2011
Target Diversified Clinical Services
Sector Healthcare Services
Buyer(s) Healogics
Sellers(s) The Edgewater Funds
TJC
Bolder Capital
Deal Type Merger
Advisor(s) Moelis & Co.
Jefferies (Financial)
SNR Denton LLP
Hogan Lovells (Legal)

Target Company

Diversified Clinical Services

Jacksonville, Florida, United States
Diversified Clinical Services, Inc. (DCS) is a wound care management company with over 300 hospital partners delivering excellent evidence-based care to patients with chronic wounds.
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Buyer Overview 1

Buyer

Healogics

Jacksonville, Florida, United States

Category Company
Founded 1996
Sector Healthcare Services
DESCRIPTION

Healogics is a provider of advanced wound care services. Healogics and its affiliated companies manage nearly 600 Wound Care Centers® through a connected network of centers, partner hospitals, academic medical centers, patients, and families. Leveraging its scale and experience, Healogics utilizes an evidence-based systematic approach to chronic wound healing in treating an underserved and growing patient population. Healogics was founded in 1996 and is based in Jacksonville, Florida.


Deal Context for Buyer #
Overall 1 of 3
Sector: Healthcare Services 1 of 3
Type: Merger 1 of 1
State: Florida 1 of 2
Country: United States 1 of 3
Year: 2011 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-12 Nautilus Health Care Group

St. Petersburg, Florida, United States

Nautilus Health Care Group LLC physicians and nurse practitioners provide wound care services to patients throughout the care continuum, including outpatient Wound Care Centers, hospital inpatient programs and to residents of skilled nursing and long term care facilities.

Buy -

Seller Profiles 3

SELLER

The Edgewater Funds

Chicago, Illinois, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 15 of 43
Sector: Healthcare Services 1 of 2
Type: Merger 1 of 1
State: Florida 1 of 5
Country: United States 14 of 42
Year: 2011 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-03 BarrierSafe Solutions International

Lake Forest, Illinois, United States

BarrierSafe Solutions International is a provider of barrier protection and infection control products. BarrierSafe owns the FoodHandler and Microflex brands and primarily sells disposable gloves to non-acute markets including foodservice, dental, laboratory, industrial and automotive. BarrierSafe Solutions International is based in Lake Forest, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-08 American Laser Skincare

Farmington Hills, Michigan, United States

American Laser Skincare is a provider of hair removal and skin rejuvenation services. American Laser Skincare was founded in 2002 and is based in Farmington Hills, Michigan.

Sell -
SELLER

TJC

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.


Deal Context for Seller #
Overall 23 of 61
Sector: Healthcare Services 1 of 2
Type: Merger 1 of 1
State: Florida 1 of 2
Country: United States 23 of 59
Year: 2011 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-13 ProMach

Covington, Kentucky, United States

ProMach is a provider of complete packaging machinery solutions, engineering and integration services, and related aftermarket products and services. ProMach brands operate across the entire packaging spectrum: filling and capping, flexibles, pharma, product handling, labeling and coding, and end of line. ProMach also provides Performance Services including integrated solutions, design/build, engineering services, and productivity software to optimize packaging line design and deliver maximum uptime. ProMach was founded in 1998 and is based in Covington, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-07 Heritage Food Service Group

Fort Wayne, Indiana, United States

Heritage Food Service Group, Inc. is a distributor of OEM replacement and repair parts for commercial kitchen equipment in the foodservice industry. Heritage Food Service Group was founded in 1987 and is based in Fort Wayne, Indiana.

Buy -
SELLER

Bolder Capital

Lakewood, Colorado, United States

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Bolder Capital is a private equity group that invests in lower middle-market manufacturing and service oriented businesses. The Group pursues companies operating in growth markets with proprietary products or technologies. Target businesses have at least $2 million of EBITDA with an enterprise value of minimum $500 million. Funds are generally used to support acquisitions/buyouts, recapitalizations and selective growth equity opportunities. Bolder Capital was formed in 2004 and is based in Chicago.


Deal Context for Seller #
Overall 5 of 12
Sector: Healthcare Services 2 of 2
Type: Merger 1 of 2
State: Florida 1 of 2
Country: United States 5 of 12
Year: 2011 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-24 RevSpring

Nashville, Tennessee, United States

RevSpring is a provider of multi-channel billing and communications solutions to the healthcare and financial services industries. The company helps customers accelerate revenue through an end-to-end platform of offerings that includes physical and electronic invoices, consumer payment portals, data cleansing solutions, and analytics tools that validate consumer identities and optimize engagement. It serves a diversified client base of approximately 2,000 health systems & hospitals, revenue cycle management providers, and financial services organizations. RevSpring was formed in 1997 and is based in Wixom, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-16 Amptek

Bedford, Massachusetts, United States

Amptek, Inc. is a provider in the design and manufacture of state-of-the-art nuclear instrumentation for the satellite, x-ray and gamma ray detection, laboratory, analytical, and portable instrumentation industries.

Buy -