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New State Capital Partners acquires United Medical Systems

New State Capital Partners has bought United Medical Systems. No financial terms were disclosed. Based in Westborough, Mass., United Medical Systems is a provider of mobile medical equipment for hospitals, surgery centers and offices.

PRESS RELEASE

NEW YORK – November 11, 2014 — New State Capital Partners, LLC, a private investment firm providing flexible capital solutions to growing mid-sized companies, today announced that it has acquired United Medical Systems, Inc. (“UMS”), a leading provider of mobile medical equipment and services for use in urology and other market segments in the U.S., Canada, and South America. New State Capital Partners purchased UMS from its German parent company through a public process.

Headquartered in Westborough, Massachusetts, United Medical Systems serves physicians’ offices, hospitals and ambulatory surgery centers which rely on this sophisticated mobile medical equipment, highly qualified technicians, and specialized services to perform these procedures. Doing so enables them to eliminate or reduce costly overhead expenses for servicing and managing often times outdated or under-utilized equipment while gaining access to highly effective technical staff. The advanced services the company offers include Kidney Stone Lithotripsy (ESWL), laser treatment of benign prostatic hyperplasia (BPH), stereotactic breast biopsy, and MRI-guided biopsy. UMS’s equipment is used to perform approximately 57,000 such procedures annually.

“The urology market in particular is vastly under-served in terms of access to cost-effective and sophisticated mobile medical equipment and services,” said David Blechman, Partner of New State Capital Partners. “These providers are challenged in managing and supporting equipment and technicians, and smaller outsourcing providers with limited capacity can significantly benefit from the scale and experience an established provider such as United Medical Systems is able to provide. We look forward to working closely with the UMS management team to capture the growth opportunity in this market.”

“We have a long standing track record for providing state-of-the-art mobile medical services and equipment to our clients,” said Jorgen Madsen, President and Chief Executive Officer of United Medical Systems since 2003. “We are excited to have the support of New State Capital Partners’ experienced investment and operating team to help drive the continued growth of our company.” Madsen will continue to lead the company, and will retain a significant ownership stake.

New State Capital Partners has deep familiarity with the challenges faced by small and middle market companies throughout their various stages of development. The firm’s ability to provide flexible capital solutions positions it as an attractive partner for mid-sized companies seeking to enhance their market leadership. Earlier this year, New State Capital Partners made a significant investment in Gautier Steel, Ltd., a producer of specialty steel products.

About New State Capital Partners, LLC
New State Capital Partners, LLC, is a private investment firm that provides flexible capital solutions to leading middle market companies in the business services, healthcare services and industrial industries to support their growth via minority or majority investments. The firm brings deep investment experience, including the structuring of control and growth buyouts,
co-investments/shared governance, corporate carve-outs, preferred/junior debt, and restructurings. The senior team has an average of more than 20 years experience in private equity, investment banking, restructuring and operations gained with premier global and U.S. companies. For more information, see: http://www.newstatecp.com

About United Medical Systems, Inc. (UMS)
United Medical Systems provides advanced mobile medical services to hospitals, surgery centers and offices across the country. Our unique transportable platform offers the appearance of a full-time, in-house program, without incurring the cost and burden associated with a fixed program. Founded in Germany in 1988, United Medical Systems pioneered the concept of shared mobile medical services – Lithotripsy and Stereotactic Breast Biopsy – and has become an international leader by partnering with medical facilities ranging from hospitals, ambulatory surgery centers and physician offices to medical equipment manufacturers. UMS is an internationally recognized company servicing over 625 facilities across the United States, as well as operating in Canada and South America – Chile and Ecuador.
For more information, see: www.ums-usa.com