ImageFIRST Acquires Majority Stake in Faultless Healthcare Linen to Expand Healthcare Linen Services

VCBeat (WeChat ID: vcbeat) has learned that ImageFIRST, a leading laundry services company in the healthcare industry, recently announced the acquisition of a majority stake in Faultless Healthcare Linen, backed by private equity firm Calera Capital. Susan Witcher, Mark Spence, and members of the Spence family will retain equity interests in the combined company’s business. The financial terms of the transaction were not disclosed.

ImageFIRST is expanding its operations in the United States. Upon completion of the transaction, ImageFIRST will acquire Faultless Healthcare Linen’s business and customer base in Kansas, Missouri, and Colorado, enabling the company to serve more than 14,000 healthcare facilities from 41 locations across the U.S.

ImageFIRST, founded in 1967 and headquartered in Pennsylvania, USA, is the largest and fastest-growing linen rental and laundry services company in the United States, specializing in the outpatient healthcare sector. The company’s laundry services comply with CDC and HLAC standards to prevent infections. Additionally, its inventory control services help clients reduce costs. These exceptional service offerings have enabled the company to achieve a 95% customer retention rate.

To address the frequent issue of incorrect inventory retrieval of linens in hospital wards and surgical centers, and to ensure that medical facilities have the necessary linen supplies, ImageFIRST has introduced an RFID-based bed and lab coat management solution. This initiative aims to help healthcare industry clients avoid bed shortages, reduce management costs, and ensure that relevant personnel have access to accurate inventory information. Healthcare institutions and health system departments can also collaborate with ImageFIRST to develop customized management protocols tailored to their specific needs.

Faultless Healthcare Linen, established in 1986, is a laundry company that provides linen washing and leasing services to healthcare institutions in St. Louis and Kansas City. The company has developed Faultless Linen Inventory Control Solutions (FLICS) to enable customers to track inventory, manage linen usage, and reduce costs.

Jeff Berstein, CEO of ImageFIRST, stated, “The Spence family is committed to delivering exceptional service to customers and has built an outstanding organization on this foundation. We look forward to partnering with Faultless Healthcare Linen to continue providing superior service and growing our business together.”

Mark Spence, President of Faultless Healthcare Linen, stated, “Partnering with ImageFIRST enables us to continue our growth throughout our 123-year family legacy.”

Calera Capital, formerly known as Fremont Partners, is a private investment firm headquartered in California, USA. Established in 1991, the firm manages $2.8 billion in capital and maintains offices in San Francisco and Boston. It focuses on investments in industries such as financial services, business services, food and consumer goods, healthcare, building products, and industrial manufacturing.

(Compiled by Jiao Yanli)