Kinderhook acquires GlobalHealth

Kinderhook Industries has acquired GlobalHealth. GlobalHealth is Kinderhook’s seventh healthcare platform investment and eighteenth purchase in the healthcare services space, including add-on acquisitions. Financial terms of the transaction were not disclosed. GlobalHealth is an Oklahoma based health maintenance organization.

PRESS RELEASE

Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of GlobalHealth, Inc. (“GlobalHealth”), a leading HMO in the state of Oklahoma. GlobalHealth is Kinderhook’s seventh healthcare platform investment and eighteenth purchase in the healthcare services space, including add-on acquisitions. Financial terms of the transaction were not disclosed.

Headquartered in Oklahoma City, GlobalHealth is a leading health maintenance organization (HMO) serving over 40,000 members in Oklahoma. GlobalHealth is the largest private HMO serving Oklahoma’s state, education and municipal employees and also offers several Medicare Advantage plans. GlobalHealth is one of five companies offering health plan options on the Federal Healthcare Marketplace in Oklahoma.

“We are excited about our new partnership with Kinderhook which will enable us to expand our affordable health plans to more citizens in Oklahoma,” said Scott Vaughn, CEO of GlobalHeath. “Our mission is to make quality healthcare more affordable for the communities we serve. The Kinderhook team shares our strategic vision of bringing our unique healthcare delivery model to more Oklahomans and creating more consumer choices in the marketplace.”

Chris Michalik, Managing Director at Kinderhook, stated that, “Under Scott’s leadership, GlobalHealth has served its members very well and has made great strides toward bending the healthcare cost curve through its common sense approach to healthcare delivery. The combination of GlobalHealth’s unique delivery model and the significant changes to the U.S. healthcare industry creates a tremendous opportunity for GlobalHealth to offer affordable health plans to more citizens in Oklahoma. We are very excited to partner with Scott and his management team and to accelerate the success of GlobalHealth.”

Kirkland & Ellis LLP and Hogan Lovells served as legal counsel to Kinderhook. McAfee & Taft served as legal counsel to GlobalHealth. Allegiance Capital Corporation served as financial adviser to GlobalHealth.

About Kinderhook Industries, LLC

Founded in 2003, Kinderhook is a private equity firm with $770 million of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies in which the firm can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com

About GlobalHealth

GlobalHealth is an Oklahoma based health maintenance organization (HMO) with offices in Tulsa and Oklahoma City. It provides affordable health insurance coverage for individuals, employers, Medicare beneficiaries, federal employees, and state, education and municipal government employees. For more information please visit: www.globalhealth.com.

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