Solara Medical Supplies, which is backed by Linden Capital Partners, has acquired South Carolina-based Pal-Med Inc, a direct-to-patient provider of insulin pumps and diabetic testing supplies. No financial terms were disclosed.
PRESS RELEASE
Chula Vista, CA (December 7, 2018) – Solara Medical Supplies (“Solara”), a leading direct-to-patient supplier of advanced diabetic devices, including continuous glucose monitors, insulin pumps and other supplies for the intensively managed diabetic, announced today the acquisition of Pal-Med, Inc. (“Pal-Med”), a South Carolina-based direct-to-patient provider of insulin pumps and diabetic testing supplies.
Following the transaction, Keith Crawford, CEO of Solara, stated “Pal-Med has earned the reputation of a compassionate and high quality supplier to insulin-dependent diabetics and we are excited to welcome them to the Solara family.”
Founded by Harold Jordan, Pal-Med has been operating in South Carolina since 1994 and has developed a strong track record of personal service based on its focus in diabetes. Jennie Jordan, current Vice President of Pal-Med who will remain with Solara, added, “We are proud of our commitment to our patients and are excited to enhance our offering by joining Solara.”
Ron Labrum, Chairman of Solara and Operating Partner at Linden Capital Partners, added, “Pal-Med strengthens our presence in South Carolina and builds upon our strategy to enhance patient service, broaden our national reach and increase value for our manufacturer partners.”
Pal-Med represents Solara’s third acquisition following its investment from Linden Capital Partners in May 2018.
Brown & Fortunato PC served as legal advisor to Solara.
About Solara Medical Supplies
Solara Medical Supplies, LLC is a leading direct-to-patient distributor of advanced diabetes therapy products including continuous glucose monitors, durable insulin pumps, and patch insulin pumps. Founded in 2002, Solara is headquartered in Chula Vista, California and operates additional offices in Michigan, Texas, Alabama, Ohio and Illinois. For more information, please visit www.solaramedicalsupplies.com.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on investing in the healthcare industry. Linden’s strategy is based upon three elements: i) healthcare specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms across the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. For more information, please visit www.lindenllc.com.
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