Fulcrum Ventures led a $16.1m recapitalization and spin-out of EnduraCare Acute Care Services (EACS), a national provider of therapy services to acute care hospitals, outpatient clinics and physician practices, from its parent company EnduraCare Therapy Management.
Commenting on the transaction, Chris Barlow, CEO of Mobile, AL-based EACS, said: “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.
“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”.
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.
FinSMEs
12/10/2009