M&A Deal Summary

Wellspring Capital Management Acquires HealthPRO Heritage

On March 15, 2021, private equity firm Wellspring Capital Management acquired healthcare services company HealthPRO Heritage from BPOC

Acquisition Highlights
  • This is Wellspring Capital Management’s 5th transaction in the Healthcare Services sector.
  • This is Wellspring Capital Management’s 43rd transaction in the United States.
  • This is Wellspring Capital Management’s 1st transaction in Maryland.

M&A Deal Summary
Date 2021-03-15
Target HealthPRO Heritage
Sector Healthcare Services
Buyer(s) Wellspring Capital Management
Sellers(s) BPOC
Deal Type Recapitalization

Target

HealthPRO Heritage

Hunt Valley, Maryland, United States
HealthPRO Heritage is a diversified provider of therapy management and consulting services across the spectrum of care. HealthPRO operates in 32+ states, employs more than 9,000 therapists, and has earned a reputation for innovation, compliance, and sophisticated use of technology to optimize patient and business level outcomes. HealthPRO Heritage is based in Hunt Valley, Maryland.

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Buyer(S) 1

Buyer

Wellspring Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Wellspring Capital Management is a mega-sized private equity firm that focused on a variety of transaction situations. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. Wellspring does not have any sector preferences and is capable of pursuing transactions valued up to $1 billion. Wellspring Capital Management was formed in 1995 and is based in New York City.

DEAL STATS #
Overall 48 of 53
Sector (Healthcare Services) 5 of 6
Type (Recapitalization) 3 of 3
State (Maryland) 1 of 1
Country (United States) 43 of 48
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-30 Help at Home

Chicago, Illinois, United States

Help at Home is a home care provider delivering in-home care to seniors and persons with disabilities. Help at Home was founded in 1975 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-17 Rohrer

Wadsworth, Ohio, United States

Rohrer is a manufacturer of high-visibility consumer packaging, including graphically intensive skin, blister, folding carton, and clamshell packaging. The Company serves a diverse customer base across a variety of end markets, such as hardware, office supplies, batteries, consumer electronics, and personal care. Rohrer was established in 1973 and is based in Wadsworth, Ohio.

Buy -

Seller(S) 1

SELLER

BPOC

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Beecken Petty O'Keefe & Company (BPOC) is a specialist private equity firm that targets investments in middle-market healthcare companies. Specific areas of interest within healthcare include, specialty distribution; provider and payor outsourcing; pharmacy, infusion, and home healthcare; outpatient an alternate site services; and medical products manufacturing with a focus on capital equipment. The Firm focuses on recapitalizations, buyouts, and growth capital investments. BPOC was formed in 1996 and is based in Chicago, Illinois.

DEAL STATS #
Overall 34 of 37
Sector (Healthcare Services) 10 of 11
Type (Recapitalization) 1 of 1
State (Maryland) 1 of 1
Country (United States) 33 of 36
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 EMSI

Irving, Texas, United States

EMSI is an outsourced service provider of medical information, risk adjustment and comprehensive investigative services to insurance companies, health insurers, and employers. The company currently services a broad range of customers across industries including Medicare Advantage and commercial health plans, life insurance and property and casualty insurance companies, academic research institutions, and major public and private corporations. EMSI was formed in 1974 and is based in Irving, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-16 himagine solutions

St. Louis, Missouri, United States

himagine solutions is a HIM outsourcing company providing health information management services, including medical coding, coding audit, registry management and clinical documentation solutions to U.S. healthcare systems, hospitals, and adjacent physician facilities. himagine solutions was founded in 2008 and is based in St. Louis, Missouri.

Sell -
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