Pamlico Capital has acquired a majority interest in Franklin, Ohio-based Valued Relationships, a provider of healthcare monitoring. Value Relationships’ chief executive officer Chris Hendriksen and president Andy Schoonover will keep significant ownership stakes in the company and continue to manage in partnership with Pamlico.
Pamlico Capital III (“Pamlico”) and the management team of Valued Relationships, Inc. (“VRI” or the “Company”) ANNOUNCED today that Pamlico has acquired a majority interest in the Company. CEO Chris Hendriksen and President Andy Schoonover will retain significant ownership of VRI and will continue to manage the growth of the Company in partnership with Pamlico. Detailed terms of the transaction have not been disclosed.
Headquartered in Franklin, Ohio and founded in 1989, VRI is one of the country’s largest providers of telehealth monitoring, monitored medication adherence solutions, and medical alert systems, serving over 100,000 actively monitored clients. VRI’s services enable seniors, the chronically ill, and those with disabilities to maintain their independence and to avoid long-term care facilities, preventable ER use, hospitalization and hospital readmission. The Company’s highly advanced Care Center processes over two million medical alert and telehealth signals annually and is staffed 24x7x365 by talented professionals who help customers by ensuring adherence, limiting false positives and engaging the appropriate party when the client is in need of additional services to ensure well-being.
Mr. Hendriksen noted, “Andy and I are proud of the growth and success that the business and our employees have achieved and are excited about taking this next step with Pamlico. The team at Pamlico has significant knowledge of our business and a strong appreciation for VRI’s core goal of helping to extend and improve quality of life for our clients.” Mr. Schoonover added, “We believe that VRI is well positioned for future growth through new strategic customer relationships and the ongoing adoption of remote-patient monitoring as a solution for providing high quality, cost-efficient care for seniors and persons living with disabilities or illness. The Pamlico team brings knowledge of the space and ongoing capital for additional investment and acquisitions, and we are excited about what this could do for VRI’s employees and customers.”
Pamlico Partner Art Roselle said, “Having invested in several related healthcare businesses over time, we were immediately impressed with the company’s high quality service offering, unique channel strategy and focus on improving outcomes for a growing demographic of elderly, ill and disabled clients. We are thrilled about the opportunity to partner with Chris and Andy and look forward to working with the VRI team to grow the business.” Pamlico Principal Stuart Christhilf added, “We look for investments where we can work with entrepreneurs as first-time institutional partners, providing capital and strategic advice to help accelerate growth. VRI represents a compelling growth platform and we believe there are numerous opportunities to build on its historical success.” VRI will represent the first investment in Pamlico Capital III, a recently raised fund with $650 million of aggregate commitments.
VRI was advised by Triple Tree (financial advisor) and McDermott Will & Emery (legal counsel). Pamlico was advised by Alston & Bird LLP (legal counsel).
VRI is one of the largest providers of telehealth monitoring, monitored medication dispensing and adherence solutions, and medical alert systems, serving over 100,000 actively monitored clients across the country. VRI’s services support patient self-management and health plan Care Management operations that enable seniors, the chronically ill, and those with disabilities to maintain their independence and avoid long-term care facilities, preventable ER use, hospitalization and hospital readmission. The company currently serves clients across the United States through commercial and government-funded health benefit programs administered by national and regional health plans, and other Managed Care Organizations. For more information about VRI, visit www.monitoringcare.com.
About Pamlico Capital
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity investments of up to $100 million alongside proven management teams in its target industries, business & technology services, communications, and healthcare. The firm, based in Charlotte, NC, currently manages over $2 billion in assets. For additional information, please visit www.pamlicocapital.com.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.