M&A Deal Summary

Joerns Healthcare Acquires RecoverCare

On May 9, 2014, Joerns Healthcare acquired medical products company RecoverCare from NexPhase Capital and Aurora Capital Partners

Acquisition Highlights
  • This is Joerns Healthcare’s 1st transaction in the Medical Products sector.
  • This is Joerns Healthcare’s 1st transaction in the United States.
  • This is Joerns Healthcare’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2014-05-09
Target RecoverCare
Sector Medical Products
Buyer(s) Joerns Healthcare
Sellers(s) NexPhase Capital
Aurora Capital Partners
Deal Type Add-on Acquisition

Target

RecoverCare

Louisville, Kentucky, United States
RecoverCare, LLC is a Provider of specialty low air loss mattress and overlays, preventative foam and gel products, hospital beds and patient transfer systems to acute care hospitals, nursing homes, and other providers of wound care and bariatric services.

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Buyer(S) 1

Buyer

Joerns Healthcare

Charlotte, North Carolina, United States
Category Company
Founded 1889
Sector Medical Products
DESCRIPTION

Joerns Healthcare is a manufacturer of equipment and provider of wound therapy solutions for the care and handling of patients in post-acute healthcare settings. Joerns Healthcare is based in Charlotte, North Carolina.

DEAL STATS #
Overall 1 of 1
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-27 Joerns Healthcare - Rental Service Network

Florida, United States

Joerns Healthcare's rental service network of durable medical equipment rental solutions in Florida, Georgia, Louisiana, Oklahoma, and Texas.

Sell -

Seller(S) 2

SELLER

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Moelis Capital Partners (MCP) is the private equity investment arm of investment bank Moelis & Company. MCP targets growth equity and control buyouts requiring equity investments of $25 to $75 million. Moelis has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. Moelis Capital Partners was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 2 of 22
Sector (Medical Products) 1 of 2
Type (Add-on Acquisition) 1 of 9
State (Kentucky) 1 of 1
Country (United States) 2 of 21
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-21 OmniSYS

Dallas, Texas, United States

OmniSYS is a provider of medical claims management and compliance IT services for pharmacies, durable medical equipment providers, managed care organizations, and commercial retiree plans. OmniSYS was founded in 1988 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-02 SwipeClock

South Jordan, Utah, United States

SwipeClock provides cloud‐based integrated workforce management software solutions that include automated time and attendance and advanced scheduling. SwipeClock was founded in 1999 and is based in South Jordan, Utah.

Buy -
SELLER

Aurora Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Aurora Capital Partners is a private investment firm that manages private equity funds as well as investment vehicles focused on debt/equity securities. Targeted businesses are generally industry leaders that operate in defensible markets with sustainable margins. Sectors of interest include aerospace, industrial products, and services, packaging, plastics, distribution, manufacturing, media, retail, and chemicals. Aurora will only consider majority/control positions. Aurora's investment horizon is typically three to seven years. Aurora Capital Partners was formed in 1991 and is based in Los Angeles, California.

DEAL STATS #
Overall 13 of 23
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 6 of 7
State (Kentucky) 1 of 1
Country (United States) 13 of 22
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-04 Zywave

Milwaukee, Wisconsin, United States

Zywave is a provider of SaaS solutions that drive improved performance in sales, marketing and customer retention for commercial insurance and benefits brokerages. The company’s products deliver more initial prospect meetings, better close rates, shorter selling cycles and higher customer retention in the intensely competitive brokerage market. Zywave serves the vast majority of the leading brokerages in the U.S. including both large and small- to medium-sized brokers in all 50 states. Zywave is based in Milwaukee, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-30 Restaurant Technologies

Mendota Heights, Minnesota, United States

Restaurant Technologies is a foodservice industry partner, proudly serving more than 32,000 quick-service and full-service restaurant chains, independent restaurants, grocery delis, hotels, casinos, universities, and hospitals nationwide. The company helps make foodservice operations safer, smarter, and more efficient through cooking oil and hood and flue management solutions. It has a long history of sustainability, working with partners to provide used cooking oil as input into renewable diesel and biodiesel, creating an ESG-friendly process of recycled used cooking oil for its customers. Restaurant Technologies was formed in 1996 and is based in

Buy -
Mergr

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