MTS Health Investors Announces the $175 Million Sale of Portfolio Company Alere Medical
Posted on: Tuesday, 3 April 2007, 12:00 CDT
MTS Health Investors, LLC ("MTS"), a healthcare private equity firm, announced today the sale of one of its portfolio companies, Alere Medical, Inc., to TA Associates for $175 million.
Alere, headquartered in Reno, Nevada, is a leader in specialized disease management services that focus on selected high-cost diseases, such as congestive heart failure, coronary artery disease, respiratory disease and diabetes. Through its integrated care monitoring system, Alere delivers unparalleled clinical outcomes and substantial healthcare cost savings for its customers, which include managed care companies, employers and other third party payers of healthcare costs.
MTS and its affiliates originated, helped structure and provided equity financing for the add-on acquisition of a major customer's disease management business, which was a transforming event for Alere that broadened its service offering and substantially increased its size. Since then, MTS has played an active role on Alere's board of directors due to the involvement of Curtis Lane and Kenton Rosenberry, Senior Managing Director and Managing Director, respectively, of MTS.
"MTS has been fortunate to partner with a great company like Alere that delivers unparalleled healthcare cost savings," said Curtis Lane, founder of MTS and an Alere director. "Alere's strong management team, led by Ron Geraty, has done a spectacular job positioning Alere in this rapidly growing industry, and we wish them and TA much continued success."
"MTS has played an instrumental role in Alere's recent success", added Ron Geraty, Chief Executive Officer of Alere. "Its healthcare knowledge and extensive healthcare industry relationships have helped create significant value for Alere's investors and management."
About MTS
MTS Health Investors, LLC, located in New York, New York, is a healthcare private equity firm that makes equity investments in the buyout, recapitalization or growth financing of healthcare operating companies. MTS focuses on businesses that operate in services sectors of the healthcare industry -- managed care/health insurance, providers of healthcare services, distributors of medical products and providers of outsourced services to the healthcare industry. The firm also invests in manufacturers of low-technology medical products. For further information, please go to: www.mtshealthinvestors.com.
Source: Business Wire
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