Growth Capital • Healthcare Services

Praesidian Capital and MidMark Capital Invest In PromptCare

On March 31, 2011, mezzanine finance firm Praesidian Capital and private equity firm MidMark Capital invested in healthcare services company PromptCare

Investment Context
  • This is Praesidian Capital’s 1st and MidMark Capital’s 1st transaction in the Healthcare Services sector.
  • This is Praesidian Capital’s 27th and MidMark Capital’s 11th transaction in the United States.
  • This is Praesidian Capital’s 3rd and MidMark Capital’s 1st transaction in New Jersey.
Investment Fate
  • PromptCare was sold to a consortium of financial buyers in 2017.
  • PromptCare was sold to a consortium of financial buyers in 2021.

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Investment Summary

Date March 31, 2011
Target PromptCare
Sector Healthcare Services
Investor(s) Praesidian Capital
MidMark Capital
Deal Type Growth Capital

Target Company

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.
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Investors Overview 2

Investor

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 Context for Investor #
Overall 27 of 52
Sector: Healthcare Services 1 of 2
Type: Growth Capital 13 of 19
State: New Jersey 3 of 5
Country: United States 27 of 49
Year: 2011 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-30 MNG Health

Bensalem, Pennsylvania, United States

MNG Health is a provider of technology-enabled multi-channel marketing solutions that allow pharmaceutical, biotechnology, and medical device brands. MNG Health was founded in 2013 and is based in Bensalem, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-11 Charlie Brown s

Millburn, New Jersey, United States

Charlie Brown's Corporation operates steakhouse restaurants in Chatham, Denville, East Windsor, Edison, Lakewood, Maple Shade, Millburn, Old Tappan, Oradell, Scotch Plains, Silverton, Washington Township, Wayne, Westampton/Mount Holly, and Woodbury, New Jersey.

Buy -
Investor

MidMark Capital

Morristown, New Jersey, United States

Category Private Equity Firm
Founded 1989
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MidMark Capital is a private equity investment firm focused on acquiring mid-sized manufacturing companies. The Firm generally looks to acquire controlling interests in standalone businesses from private and corporate owners, however the MidMark will also make significant equity investments in rapidly growing businesses. MidMark typically acts as the lead investor when pursuing transactions. MidMark Capital was formed in 1989 and is based in Morristown, New Jersey.


Deal Context for Investor #
Overall 13 of 13
Sector: Healthcare Services 1 of 1
Type: Growth Capital 2 of 2
State: New Jersey 1 of 1
Country: United States 11 of 11
Year: 2011 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-31 Consolidated Aviation Services

Jamaica, New York, United States

Consolidated Aviation Services is a provider of an import and export cargo handling services. Cargo Airport Services coordinates the process of transferring and releasing cargo between air carriers and ground transportation providers at major airports.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-27 Universal Environmental Services

Peachtree City, Georgia, United States

Universal Environmental Services is a collector and reseller of used oil. Universal Environmental Services was founded in 1995 and is based in Peachtree City, Georgia.

Sell -