IVX Health, a national provider of infusion and injection therapy for patients with complex chronic conditions such as rheumatoid arthritis, multiple sclerosis, and Crohn’s disease, announced its acquisition of Precision Healthcare. Precision operates 12 infusion centers across Tennessee and northern Arkansas.
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 Nueterra Capital.
For more than 20 years, Precision has cared for patients with autoimmune disorders and other conditions. The company employs a team of dedicated and highly skilled nurses, nurse practitioners, and other conditions who administer a formulary of biologic infusions and injection therapies similar to that delivered by IVX Health.
“The Precision team has built an amazing company that shares the same passion and commitment as IVX Health for caring for those with complex chronic conditions,” said IVX Health CEO Doug Ghertner. “Together we have the opportunity to meaningfully impact the lives of even more patients by investing in Precision’s investing footprint in ways that expand patient access and enhance the overall patient experience.”
The acquisition of Precision accelerates IVX Health’s national growth strategy, improving access for patients by adding to its already expansive footprint in the Southeast. With completion of the acquisition, IVX Health is now one of the largest providers of infusion and injection therapy in the nation, operating more than 40 ambulatory infusion centers across the U.S.
“It’s been a challenging year for the nation, but also a remarkable one for healthcare innovation, particularly those focused on patient safety in an ever-connected world,” said Dave Schulte, managing director of McKesson Ventures. “As care continues to transition away from the hospital, this acquisition enables IVX Health to better support the growing population of patients receiving biologic infusion or injection therapy.”
Precision’s corporate operations will rebrand as IVX Health immediately, with plans to rebrand designated Precision sites over the next year.
Read the original press release here.