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Fulcrum Ventures Leads Recapitalization of EnduraCare Acute Care Services LLC

Posted on: Monday, 12 October 2009, 09:59 CDT

ATLANTA, Oct. 12 /PRNewswire/ -- Fulcrum Ventures announced today that they led the $16.1 million recapitalization and spin-out of EnduraCare Acute Care Services ("EACS") from its parent company EnduraCare Therapy Management . Founded in 1981, EACS is a national provider of therapy services to acute care hospitals, outpatient clinics and physician practices.

Chris Barlow, CEO of EACS, leads an experienced management team. "We are excited to partner with Fulcrum and the other investors of EACS to accelerate the growth of the Company as we aggressively pursue new contracts and markets," said Mr. Barlow. "This transaction provides the management team of EACS with the necessary capital to focus on building EACS into the premier therapy services provider in the country."

"EnduraCare is an established provider of therapy services that is led by an experienced and talented management team," said Tom Greer, a Partner at Fulcrum Ventures. "The trend towards outsourcing therapy services for acute care hospitals is continuing, and we are excited to have partnered with one of the leading platform companies in this space."

In addition to Fulcrum's equity investment, other investors include MedEquity Capital, Harbert Mezzanine Partners II which provided subordinated debt financing, and Gemino Healthcare Finance which provided both a senior debt term loan and an asset based revolver.

EnduraCare Acute Care Services

EnduraCare Acute Care Services is a national provider of therapy program management for hospitals, outpatient clinics and physician practices. The Company's offerings include physical, occupational, and speech therapy services as well as special rehab programs for sports injuries, work hardening, wound care and spinal injuries. EACS currently has 31 hospital contracts for 47 acute care locations in 15 states. The Company was founded in 1981 and is based in Mobile, AL.

Fulcrum Ventures

Fulcrum Ventures is an Atlanta-based private equity firm focused on providing expansion capital to rapidly growing companies. The firm provides equity investments up to $5 million for a wide variety of industries with a special emphasis on healthcare; information technology, business services and technology enabled operating companies. Fulcrum provides financing to meet a wide range of needs, including internal growth initiatives, acquisitions, management buy-outs, and recapitalizations. The three founding partners have significant operating experience in senior leadership positions of successful, rapidly growing companies, and collectively have over sixty years of related industry expertise. To learn more please visit www.fulcrumvp.com.

MedEquity Capital, LLC

MedEquity Capital, LLC is a private equity firm providing equity financing to growing healthcare-related companies. Their team utilizes a sector-based investment approach, identifying companies within attractive areas of the healthcare industry. MedEquity pursues equity investments in companies with a history of growth and profitability, invests between $10 and $30 million per transaction and will consider both control and non-control transactions. To learn more please visit www.medequity.com.

SOURCE Fulcrum Ventures

Source: PR Newswire

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