PromptCare Acquires Hollywood Medical Supply to Expand Footprint in Southeastern U.S.

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on November 26, 2019, local time, PromptCare (The PromptCare Companies), a leading regional provider of respiratory therapy and specialty infusion services in the United States, announced the acquisition of Hollywood Medical Supply. The specific terms of the transaction were not disclosed.

PromptCare is backed by Halifax Group, with Goodwin Procter serving as legal counsel to PromptCare in this acquisition. The transaction will further expand PromptCare’s footprint in the southeastern United States.

Hollywood Medical Supply, established in 1965 and headquartered in Florida, USA, is a company that provides high-tech respiratory therapy services and related medical supplies, with a focus on delivering care to medically fragile children in Florida. The company provides ventilators, respiratory monitors, surgical supplies, enteral feeding, and oxygen services to over 1,200 patients.

PromptCare, founded in 1985 and headquartered in New Providence, New Jersey, USA, is a leading provider of respiratory therapy and specialty infusion services. The company serves pediatric and adult patients across the Mid-Atlantic and Northeastern regions of the United States. By combining high-tech equipment and infusion drug therapies with tailored, high-touch service approaches, PromptCare delivers exceptional patient care.

Furthermore, PromptCare is the preferred partner for hospitals, physicians, and payers in managing complex medical conditions such as amyotrophic lateral sclerosis (ALS), chronic lung disease, and various nutritional and autoimmune disorders. PromptCare currently serves more than 2,900 pediatric and adult ventilator-dependent patients across 28 locations in 16 states, as well as over 1,300 specialized infusion therapy patients.

Regarding this acquisition, PromptCare CEO Tom Voorhees stated, “We are delighted to enter the Florida market through our strategic merger with Hollywood Medical Supply. Bob has built a care-centric, pediatric patient-focused company that aligns perfectly with PromptCare’s mission and strategy.”

“PromptCare is committed to delivering the highest level of patient care, making them the perfect partner to continue Hollywood Medical Supply’s 50-year tradition of serving frail patients in South Florida,” said Robert Lichtenstein, founder and CEO of Hollywood Medical Supply.

Halifax Group, a private equity firm founded in 1999 and headquartered in Washington, D.C., focuses on the lower middle-market segment, targeting companies with enterprise values ranging from $30 million to $125 million. Composed of 15 professionals, Halifax Group has partnered with more than 20 companies since its inception and currently manages nearly $1 billion in assets.

(Compiled by Wang Fang)