Kensington-owned Resolution Health nabs funding from BDC, Horizon

BDC and Horizon co-invested alongside Kensington Capital Partners, which acquired a controlling interest in Resolute in June.

  • Resolute was established in 2005 in Dartmouth, Nova Scotia by Dr. Neil Smith as The Snore Shop
  • Today, it operates 73 clinics under nine regional brands across six provinces and has provided testing and OSA therapy to over 250,000 patients
  • The investment by BDC and Horizon will support the company’s organic and acquisition-led growth

Resolute Health Corp, a Bedford, Nova Scotia-based healthcare services business specializing in the testing and treatment of obstructive sleep apnea, has secured investments from BDC Growth Equity Partners, an affiliate of BDC Capital, and Horizon Capital Holdings.

BDC and Horizon co-invested alongside Kensington Capital Partners, which acquired a controlling interest in Resolute in June. No financial terms were disclosed.

Resolute was established in 2005 in Dartmouth, Nova Scotia by Dr. Neil Smith as The Snore Shop. Today, Resolute operates 73 clinics under nine regional brands across six provinces and has provided testing and OSA therapy to over 250,000 patients with its differentiated, patient-centric approach to providing high-quality medical care.

“We are excited to support the Canadian leader in the sleep therapy sector and look forward to working with management and Kensington to continue to scale the business through organic initiatives as well as through select acquisitions,” said Loren Rafeson, a partner, BDC Growth Equity Partners in a statement. “Underpinning our investment thesis is the increasing awareness of the importance of sleep health, especially given that sleep apnea remains significantly undiagnosed across the population.”

BDC Capital, the private markets investment arm of Canadian bank BDC, has more than C$6 billion under management. Horizon Holdings is the private equity family office of the Martin family.

Kensington Capital Partners is an alternative investment firm with assets under management of C$2.6 billion.