Buyer: Halifax Group
Seller: PromptCare (MidMark Capital)
Sector: Respiratory and Infusion
Keywords: Respiratory and Infusion
The Halifax Group (“Halifax”) announced that it has completed, in partnership with management, an investment in The PromptCare Companies, Inc. (“PromptCare” or the “Company”), a leading regional provider of respiratory and infusion services. Terms of the transaction were not disclosed.
PromptCare, headquartered in Clark, NJ, serves pediatric and adult patients across the Mid-Atlantic and Northeastern United States. The Company combines high-tech equipment and infusion drug therapies with a tailored, high-touch service approach to deliver superior patient care. The Company is a preferred partner of hospitals, physicians, and payors in managing complex medical conditions such as ALS, chronic lung conditions, and autoimmune deficiencies. PromptCare serves more than 1,500 ventilation patients and more than 1,400 infusion patients from 17 locations.
The management team, including CEO Tom Voorhees, will remain with the company and will maintain a minority investment.
“Halifax has long sought out unique opportunities in the health and wellness sector, and we are excited by PromptCare’s differentiated platform that serves the most challenging medical cases and patient populations,” said Scott Plumridge, Partner at Halifax. “The respiratory and infusion markets are exhibiting strong growth trends as the healthcare industry continues to focus on reducing overall costs and improving patient care and convenience. We look forward to partnering with Tom and his team to execute our shared strategy for success.”