Count hospital outsourcing among private equity’s bets for healthcare growth.
North Carolina cardiac services company Advanced Perfusion Care, or APC, has been acquired by SpecialtyCare in a deal that comes just days after Nashville, Tennessee-based SpecialtyCare secured a $123 million infusion from New York private equity firm American Securities. SpecialtyCare disclosed the new financing in a June 3 securities filing.
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Financial terms of SpecialtyCare’s purchase of Pinehurst, North Carolina-based APC were not disclosed. APC’s services to hospitals include perfusion, in which a heart-lung machine maintains the circulation of blood throughout the body during heart surgery. APC serves 18 hospitals in six states and Washington, D.C.
David Christaldi, APC’s president and CEO, said in a statement that his company had considered various opportunities to better position the company. By joining SpecialtyCare, Christaldi said APC will “create efficiencies in the (operating room) beyond perfusion.” He added that APC’s staff and hospital customers will benefit from a company that is both large and diverse. SpecialtyCare provides perfusion among other clinical services. The company operates in more than 545 hospitals in 40 states, Washington, D.C., Puerto Rico and Germany. Following the $123 million in new financing from American Securities, SpecialtyCare could be scoping out additional acquisition targets that would further broaden its service offerings and footprint.
American Securities’ previous healthcare investments include Dr. Leonard’s, a direct retailer of home healthcare and convenience products for the “over 55” market; Miltex, a supplier of handheld surgical and dental instruments; and Healthy Directions, a direct marketer of branded nutritional supplements and health newsletters.
