probo medical private equity

About Probo Medical. PHCN is a management services company that manages home health benefit for major insurance plans with the focus on Medicare Advantage and managed Medicaid patients. The first half of 2022 saw a continuation of 2021's record-setting pace for healthcare private equity deal volume and deal value, and while geopolitical uncertainty, inflation, interest rate pressure, and tight credit did eventually catch up to the market in the third quarter, 2022 will still be the second-biggest year on record. Varsity Healthcare Partners is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. Probo Medical, a Tampa, Fla.-based global provider of medical imaging equipment, parts, repair and service, acquired SonoDepot, Inc., a St. Like most websites we use cookies here, but we don't share your information. All rights reserved. [7] Disability services provider Sevita Health (fka Mentor Network), which Vistria co-owns with Centerbridge Partners, has garnered criticism for paying massive debt-funded dividends to the private equity owners despite profound quality and safety concerns. Industry: Health Care Products Manufacturing. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. We are thrilled to be joining with Probo and look forward to offering our customers the most comprehensive set of products and services in the market.. LOS ANGELES & STAMFORD, Conn.--(BUSINESS WIRE)--Varsity Healthcare Partners (VHP), a leading healthcare services private equity investment firm, announced today the close of its sale of Probo Medical, LLC (Probo or the Company) to Avista Capital Partners (Avista). We look forward to supporting Tenvisions customers with the breadth and depth of Probos products, services and solutions, and we are tremendously excited to welcome the Tenvision team to Probo., Tenvision President, Kevin Gregory, said, Aligning with Probo connects Tenvision into a platform that places our team on the leading edge of solutions that we can bring to our customers. With their strategic and financial support, and a robust pipeline of acquisition opportunities in the U.S. and Europe, we will continue our impressive growth trajectory while serving the market with the highest-quality diagnostic imaging equipment and services. For more information on Tenvision, Inc., please visit http://www.tenvisionllc.com, Former White House Senior Advisor, Former CEO Cancer Treatment Centers of America, Former Senior Leader Read More, Healthcare industry expert and thought leader to drive Ventra Health into the next phase of Read More, LOS ANGELES September 8, 2022 Varsity Healthcare Partners (VHP, Varsity or the Firm), Read More, 1925 Century Park East, Suite 1300 The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. Probo offers refurbishment, sales, parts, service and repair on a broad range of medical imaging equipment, including Ultrasound, C-Arms, CT, MRI, PET/CT, X-Ray and more. Our mission is to drive down worldwide healthcare expenses by providing low-cost equipment and repair solutions. Copyright Probo Medical, 2023. Probo, by extending the life of medical equipment, is one way to meaningfully achieve savings. P. 952.223.8400 The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. Probo Medical is backed by Avista Capital Partners, a leading New York-based private equity firm with more than 40 growth-oriented healthcare businesses globally. For more information please visit: www.varsityhealthcarepartners.com. Any such offer or solicitation shall be made only pursuant to a confidential offering memorandum relating to such vehicles, which will qualify in its entirety any information set forth herein. Separately, the equipment supply chain is getting digitized. Transaction terms were not disclosed. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. Butang ini akan menunjukkan jenis carian yang dipilih buat masa ini. About Probo Medical. Bloomington, MN 55437 Probo Medical is a global diversified supplier of refurbished diagnostic imaging equipment. 18th Floor mmandelbaum@prosek.com / jcohen@prosek.com, Internet Explorer presents a security risk. With their strategic and financial support, and a robust pipeline of acquisition opportunities in the U.S. and Europe, we will continue our impressive growth trajectory while serving the market with the highest-quality diagnostic imaging equipment and services., David Alpern, Founding Partner at Varsity Healthcare Partners, said, We want to thank Michael and the entire Probo team for three years of highly successful collaboration, and look forward to continuing our partnership with Probo through a commitment from our third fund. Driven by an aggressive M&A playbook, Probo has consistently added new recurring services and today offers installation and de-installation, field-based repair service, equipment sales and rentals, parts supply and repair. Varsity has been successful in developing and executing a tailored value creation plan, in partnership with the leadership of each company that typically emphasizes an appropriate investment in infrastructure followed by an aggressive organic and acquisition growth strategy. Probo Medical is backed by Varsity Healthcare Partners, a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading health care services companies. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://drive.google.com/drive/folders/1f1IVD30IL35kfg1stYekh6e2pZRt7gBX?usp=sharing, Brian Keith Joins Probo Medical Leadership. Tenvision is known as a leader in the ultrasound market, particularly with respect to their sales, service and training offering to customers in the mid-south region. For more information please visit: www.varsityhealthcarepartners.com. Health Care, Join 70,000+ private equity peers who receive daily deals news via PE Hub . ", Michael Asmer, CEO of Probo, added, "On behalf of Probo team members around the world, I am excited for the future of our partnership with Avista Capital. Ce bouton affiche le type de recherche actuellement slectionn. Medical Imaging Installation / De-Installation, Probo Announces Partnership with HeathTrust, Mindray M8 Elite Portable Ultrasound Review. Today, Probo Medical is the largest ultrasound equipment distributor in the world. Probo Medical is a diversified supplier of refurbished diagnostic imaging equipment sales, service, rental, repair and installation of a vast array of imaging . Avista Capital Partners agreed to acquire a majority stake in Probo Medical, joining Varsity Healthcare Partners as an investor in the growing umbrella of refurbished medical equipment and parts.. Mi Healthcare provides diagnostic imaging equipment sales, maintenance and servicing to NHS trusts and private health organizations across theUK. . Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by . It is classified as operating in the Machinery, Equipment & Supplies Merchant Wholesalers industry. TAMPA, Fla. June 7, 2021 Probo Medical (Probo), a leading global provider of medical imaging equipment, parts, repair and service, announced today the acquisition of Tenvision, LLC (Tenvision). Probo Medical is a global diversified supplier of refurbished medical equipment. About Probo Medical Our long tenure in the market leads to a deep understanding of the micro and macro trends driving value and opportunity within the healthcare sector. Established in 1995, Mi Healthcare is a Liverpool, United Kingdom-based provider of medical imaging equipment and services to public and private healthcare facilities across the UK. Probo Medical, a portfolio company of Varsity Healthcare Partners, announced the close of its sale to Avista Capital Partners. | At Probo Medical, we provide Sales, Service, Rental, and Repair for ultrasound systems . For more information, visit www.probomedical.com. Avista shares our passion for delivering health care solutions that drive superior outcomes in an efficient and efficacious manner. Prosek Partners It ranked second on last year's list, with revenue growth from 2016 to 2018 of 398%. European Managing Director. "As we look to harness the shared expertise and collaboration between our teams, we are excited at what this combination will bring to both Probo and Mi Healthcare's customers.". For more information about Probo Medical, visit http://www.probomedical.com/. LOS ANGELES & STAMFORD, Conn.-- ( BUSINESS WIRE )--Varsity Healthcare Partners ("VHP"), a leading healthcare services private equity investment . Sriram Venkataraman, Partner at Avista, said, Probo has earned its strong market position through operational excellence and timely, strategic acquisitions. From 2018 and 2019, private equity was involved in almost 50% of deals in the home healthcare industry, and private equity hospice transactions rose nearly 25% between 2011 to 2020. Probo Medical is a leading business in the medical imaging equipment market, offering a vertically-integrated set of products and services to customers worldwide, including equipment sales, part sales, equipment rentals, depot repair service, equipment installation and de-installation, and field-based repair service. Have questions or would like to speak to a Probo Medical Professional? Mi Healthcares CEO, Mark Edwards, continued, We have long known the Probo team, and we are excited for the future of bringing Mi Healthcare into the Probo family. Probo Medical is backed by Varsity Healthcare Partners, a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP is a middle-market private equity investment firm focused on partnering with founders, entrepreneurs, and management teams to build healthcare services companies. The company uses its global supply chain to procure used ultrasound equipment from more than 250 source points and its internally trained workforce of repair technicians then refurbishes the equipment for resale to more than 500 customers globally. For example, Traditions Health, owned by private equity firm Dorilton Capital, acquired Pursue Health and Serenity Health Management, which together are comprised of six home health and hospice in agencies in California, Nevada, and Kansas. Probo is a global leader in the medical imaging equipment market, offering a vertically-integrated set of products and services to customers worldwide, including equipment sales, part sales, equipment rentals, depot repair service, equipment installation and de-installation, and field-based repair service. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects targeting product and technology businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. Terms of the transaction were not disclosed. The Ropes & Gray team that advised Avista Capital was led by private equity partner Bob Rivollier and private equity associate Samuel Levitt (both of New York), and included private equity partner Helen Croke (London), leveraged finance partner Arek Maczka (New York), life sciences regulatory & compliance partner Kellie Combs (Washington, D.C.), health care partner Christina Bergeron (Boston), benefits partner Alexandra Alperovich (New York), labor & employment partner Megan Bisk (Boston), tax partner Benjamin Rogers (San Francisco), litigation & enforcement counsel Joseph Rafferty, Lee Gayer (both of New York) and Steven Kaye (Boston), and real estate partners Peter Alpert (Boston) and David Seymour (London). For more information about Probo Medical, visithttp://www.probomedical.com/. Quedgeley, England, United Kingdom. Probo Medical is backed by Avista Capital Partners, a leading New York-based private equity firm with more than 40 growth-oriented healthcare businesses globally. Avista Capital Partners to Acquire Probo Medical. Mission: Our . Revenue: $1 to $5 million (USD) Competitors: Unknown. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects targeting product and technology businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. Varsity is a lower mid-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to . Over that span, sales grew from $6.0 million to $30.1 million. The company is backed by Avista Capital Partners, a New York-based private equity firm with more than 40 growth-oriented healthcare businesses globally. The transaction closed on September 28, 2018. Probo Medical has acquired 10 companies of its own, including 10 in the last 5 years. Mediante la Ropes & Gray acted as legal advisor to Avista Capital Partners. As we look to harness the shared expertise and collaboration between our teams, we are excited at what this combination will bring to both Probo and Mi Healthcares customers.. Traditions now operates in 18 states. [8], The home health and hospice deals in March are part of a growing trend of private equity investment in the industries. About Probo Medical. Probo, based in Fishers, Ind., is a supplier of refurbished diagnostic imaging equipment.Founded in 2014, the company's set of services include equipment sales, part sales, equipment rentals, depot repair service, equipment installation and de-installation, and field-based repair service The Company also now provides its full suite of services across a spectrum of imaging modalities, including Ultrasound, PET, X-Ray, C-Arms, CT Scanners, MRI, and Mammography machines. When typing in this field, a list of search results will appear and be automatically updated as you type. 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