ABRY Partners has agreed to acquire MobileHelp, a provider of mobile medical alert and personal health management solutions. No financial terms were disclosed. The deal is expected to close before the end of the first quarter of this year. Raymond James served as financial adviser to MobileHelp on the transaction.
BOCA RATON, FL–(Marketwired – February 08, 2017) – MobileHelp®, a leader in mobile medical alert and personal health management solutions, today announced that it has signed a definitive agreement to be acquired by ABRY Partners, a Boston-based private equity firm with a long track record of investments in mission critical business and information services companies. The transaction is expected to close before the end of Q1 2017, subject to receipt of certain regulatory approvals and other customary closing conditions.
“Over the past ten years, MobileHelp has experienced tremendous growth by bringing game-changing solutions to the medical alert space,” said Rob Flippo, CEO of MobileHelp. “We are excited to join forces with ABRY Partners in order to implement the next phase of our growth initiatives, and continue to bring innovative solutions to our current and future customer base.”
MobileHelp’s ongoing commitment to innovation is illustrated by the depth of its product and service solution portfolio, which includes the integration of nationwide wireless voice, data and GPS technology as well as fall detection devices (allowing for real-time monitoring), caregiver notifications, location tracking and expedited mission critical personal emergency assistance.
The company also recently expanded its solution set by retooling its products and services to proactively address at home health management. In fact, the company recently introduced a new tablet base station platform and simple-to-use telehealth solution to provide consumers with the capability to track, monitor and share their vital signs (such as blood pressure and weight), while also leveraging the safety benefits of a medical alert system.
“MobileHelp’s innovative product portfolio truly empowers customers and their families with the tools they need to better manage their safety and wellness,” said Tomer Yosef-Or, Partner at ABRY Partners. “We believe the company’s highly differentiated solutions and superior client experience deliver a unique and compelling value proposition. Given the accelerating tail-winds in the safety and health IT industries, we believe there are multiple opportunities for MobileHelp to continue its impressive growth.”
Raymond James served as financial advisor and Lock Lorde as legal advisor to MobileHelp on the transaction.
Headquartered in the Research Park at Florida Atlantic University, MobileHelp is a leading provider of mobile Personal Emergency Response Systems (PERS) and health management solutions. MobileHelp’s PERS devices are integrated with nationwide wireless voice, data and GPS technology to provide real-time medical alert monitoring services and expedited personal emergency assistance. In addition, MobileHelp offers proactive health management services such as activity tracking, medication reminders and a telehealth platform, MobileVitals, for both consumers and healthcare providers. For more information about MobileHelp, please call 1-800-989-9863 or visit the company website at www.MobileHelp.com.
About ABRY Partners:
Founded in 1989 and headquartered in Boston, Massachusetts, ABRY Partners is an experienced and successful private equity investment firm focused on media, communications, and business and information services. Since its founding, ABRY has completed more than $62 billion of transactions, representing investments in more than 550 properties.