Edgemont Partners, a healthcare investment bank and M&A and capital raising advisor exclusively serving healthcare companies, announced that it acted as exclusive financial advisor in the sale of Precision Healthcare to IVX Health. Precision was a division of BAI Healthcare Services. The terms of the transaction, which closed on October 14, 2020, were not disclosed.
Precision, headquartered in Nashville, Tennessee, is a provider of infusion and injection therapy for patients with autoimmune disorders and complex chronic conditions. It operates 12 infusion centers across Tennessee and northern Arkansas and has built a strong reputation within its community of patients and referring specialist physicians.
IVX Health is a provider of infusion and injection therapy for those with complex chronic conditions such as rheumatoid arthritis, Crohn’s disease, multiple sclerosis, and other conditions. The acquisition of Precision accelerates IVX Health’s national growth strategy, improving access for patients by adding to its already extensive footprint in the Southeast. With the completion of the acquisition, IVX Health is now one of the largest providers of infusion and injection therapy, operating more than 40 ambulatory infusion centers across the United States. Precision’s corporate operations will rebrand as IVX Health immediately, with plans to rebrand designated Precision sites over the coming year.
The acquisition was led by a preferred equity investment from Linden Capital Partners and joined by existing institutional investors McKesson Ventures, Health Velocity Capital, and others.
Kyle Motley, CFO at BAI Healthcare Services and Precision Healthcare, said, “Edgemont’s strong infusion services and transaction expertise guided us through the sale process culminating with the selection of IVX Health as the best strategic partner for our business and its stakeholders.”
Read the original press release here.