Sverica, a San Francisco-based middle market private equity firm, has completed a recapitalization and growth investment in Inpatient Medical Services, an Akron, Oh.-based medical services company. Terms of the deal were not disclosed.
PRESS RELEASE:
AKRON, Ohio, Oct 11, 2012 (BUSINESS WIRE) — Sverica International (“Sverica”), an operationally-oriented middle market private equity group with offices in Boston and San Francisco, announced today it has completed a recapitalization and growth investment in Akron, Ohio based Inpatient Medical Services, Inc. (“IMS”). IMS is a leading provider of outsourced hospitalist physician programs to acute and post-acute care facilities and community primary care physicians in Northern Ohio.
IMS has established itself as a premier outsourced hospitalist management company in the Midwest by partnering with hospitals and primary care doctors to improve efficiency, clinical outcomes, and smooth transitions of care. Dr. Michael Huber, one of three shareholders of IMS, will remain with the company and assume the position of Chief Executive Officer. Commenting on the investment by Sverica, Dr. Huber said: “IMS has experienced tremendous growth over the last several years and developed a model of care that significantly reduces avoidable readmissions, improves clinical outcomes, and reduces the total cost of care. We are excited to partner with Sverica in our next phase of growth. Sverica shares our vision of creating a best-in-class hospitalist company serving the Great Lakes region. The experience Sverica brings from decades of helping companies like IMS grow into industry leaders will be invaluable.”
Frank Young, Managing Director at Sverica International, commented, “We welcome IMS into the Sverica portfolio and look forward to working with Dr. Huber and his team. IMS’s leadership, customer value proposition and stellar reputation in the hospitalist industry provide a unique platform to capitalize on favorable market conditions going forward.”
About Inpatient Medical Services
Based in Akron, Ohio, IMS is a leading provider of outsourced hospitalist physician programs to acute care facilities and community primary care physicians throughout Northern Ohio. IMS serves over 150,000 patients annually and has built a premier reputation with community physicians who rely on the Company as its inpatient service partner. The Company’s quality and value proposition is validated by its long-term relationship with some of the top healthcare systems in the region and nationally. For more information please visit www.imshospitalist.com .
About Sverica International
Sverica International is a leading private equity firm that has raised over $425 million of investment capital across three funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993 Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information please visit www.sverica.com .
SOURCE: Sverica International
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