Investment Summary

Ballast Point Ventures, Spring Bay Companies and Yenni Capital Invest In Matrix Medical Network

On February 1, 2007, growth capital firm Ballast Point Ventures, family office Spring Bay Companies and private equity firm Yenni Capital invested in healthcare services company Matrix Medical Network

Investment Highlights
  • This is Ballast Point Ventures’ 3rd, Spring Bay Companies’ 1st and Yenni Capital’s 1st transaction in the Healthcare Services sector.
  • This is Ballast Point Ventures’ 12th, Spring Bay Companies’ 1st and Yenni Capital’s 2nd transaction in the United States.
  • This is Ballast Point Ventures’ 1st, Spring Bay Companies’ 1st and Yenni Capital’s 1st transaction in Arizona.
Investment Fate
  • Matrix Medical Network was sold to a consortium of financial buyers in 2011.
  • Matrix Medical Network was sold to a publicly-traded strategic buyer in 2014 for 400M USD.
  • Matrix Medical Network was divested to a consortium of buyers in 2016.

Investment Summary

Date 2007-02-01
Target Matrix Medical Network
Sector Healthcare Services
Investor(s) Ballast Point Ventures
Spring Bay Companies
Yenni Capital
Deal Type Growth Capital

Target

Matrix Medical Network

Scottsdale, Arizona, United States
Matrix Medical Network is a provider of home-based medical assessments and has expanded its portfolio of services to include screening, chronic care management, physician engagement and analytics. Matrix Medical Network was founded in 2000 and is based in Scottsdale, Arizona.

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Investor(S) 3

Investor

Ballast Point Ventures

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2001
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ballast Point Ventures is a private investment firm that targets growth businesses located in the South US. Ballast Point looks to commit $5 to $15 million of equity capital per transaction and looks for businesses in markets with annual revenues of at least $100 million. Sectors of interest include healthcare, information technology (IT), financial services, communications, business services, and consumer products/services. Ballast Point Ventures was formed in 2001 and is based in Tampa, Florida.


DEAL STATS #
Overall 12 of 44
Sector: Healthcare Services M&A 3 of 5
Type: Growth Capital M&A Deals 5 of 24
State: Arizona M&A 1 of 1
Country: United States M&A 12 of 44
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-06 Blue Medical Supply

Jacksonville, Florida, United States

Distributes consumable medical and surgical supplies, diagnostic equipment, and pharmaceutical-related products to physicians throughout the Southeast.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-25 PDSHeart

West Palm Beach, Florida, United States

Provides physician-prescribed remote and ambulatory care monitoring of non-symptomatic, symptomatic and post surgical cardiac patients via landline, cellular telephone and the Internet. PDSHeart was acquired by Cardionet (Nasdaq: BEAT) in March of 2007, and the combined companies undertook an IPO in 2008.

Sell -
Investor

Spring Bay Companies

Ponte Vedra Beach, Florida, United States

Investor Investor


Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

The Spring Bay Companies is a private investment firm that invests in technology-based product and service companies. Spring Bay prefers US based opportunities and looks to commit $1 to $10 million per transaction. Prospective transaction situations can include growth capital financings, leveraged buyouts, divestitures, acquisitions, shareholder liquidity, and recapitalizations. The Firm's investment horizon is three to seven years. The Spring Bay Companies is located in Ponte Vedra Beach, Florida.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 1
State: Arizona M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2007 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-28 Matrix Medical Network

Scottsdale, Arizona, United States

Matrix Medical Network is a provider of home-based medical assessments and has expanded its portfolio of services to include screening, chronic care management, physician engagement and analytics. Matrix Medical Network was founded in 2000 and is based in Scottsdale, Arizona.

Sell -
DESCRIPTION

Yenni Capital is a private investment firm focused on acquisitions of profitable middle-market manufacturing and service companies. Yenni will consider opportunities throughout the US and generally seeks companies with minimal CAPEX requirements and revenues between $10 and $100 million. Yenni Capital was formed in 1991 and is based in New York City.


DEAL STATS #
Overall 2 of 3
Sector: Healthcare Services M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 1
State: Arizona M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2007 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 MCAG

Toledo, Ohio, United States

MCAG is a health plan auditing and litigation claim recovery firm located in Ohio. The company became major claim recovery firm in the US representing physician groups on class action law suit settlements with insurance companies. MCAG was formed in 2003 and is based in Toledo, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-15 Sunjut Suni Jut Sanayi Ve Ticaret A S

Istanbul, Turkey

Sunjut Suni Jut Sanayi Ve Ticaret A S is one of the world's major shipping and packing supply manufacturers specializing in flexible intermediate bulk containers.

Sell -