Vital Care Receives Strategic Investment From Berkshire Partners, Leonard Green & Partners, and Linden Capital Partners
August 01 2024 - 7:30AM
Business Wire
Partnership Will Offer Growth Opportunities
for Leading Network of Infusion Pharmacy Franchisees
Vital Care, a leading franchisor of infusion therapy pharmacies,
announced today that it has closed a strategic investment from
Berkshire Partners (“Berkshire”) and Leonard Green & Partners
(“LGP”). Financial terms of the private transaction were not
disclosed. Linden Capital Partners (“Linden”), which invested in
Vital Care in 2020, remains an ongoing investor in the Company
alongside management and the Bell family.
Founded in 1986, Vital Care is dedicated to providing
high-quality, safe, convenient, and cost-effective infusion therapy
services for chronic and acute patients across all of its
locations. Vital Care provides a range of infused and injectable
specialty therapies and has more than 160 infusion pharmacy
locations across 35 states.
“We are thrilled to welcome our new partners at Berkshire and
LGP,” said Steve Foreman, CEO and President of Vital Care. “Along
with our existing partners at Linden, we are excited to enhance our
focus on patient care by elevating the resources and capabilities
of franchisees across the country, helping them reinvest in their
local markets and workforces while empowering franchisee expansion.
Berkshire, LGP, and Linden fully support Vital Care’s mission of
expanding access to high-quality infusion therapy and helping drive
the best patient outcomes possible.”
“Throughout our discussions with the Vital Care leadership team,
their commitment and sincere passion for providing patients with
industry-leading infusion treatment fully resonated with us, and we
are thrilled to begin our partnership alongside LGP and Linden,”
said Ben Levy, Managing Director of Berkshire Partners. “Together,
we will seek to unlock additional growth opportunities for Vital
Care and provide the necessary resources to ensure that patient
care remains the top priority across current and future
locations.”
“We are excited to begin collaborating with Vital Care on key
operational enhancements and the expansion of its exceptional
service offerings,” said Mike Greenman, Partner of LGP. “We are
confident in our conviction that our joint investment will improve
patient access of infusion services across the U.S., through Vital
Care’s locally owned and operated franchise network.”
“We are proud of the strong growth achieved by Vital Care and
look forward to continuing to support the Vital Care team,” said
Piyush Shukla, Partner of Linden. “We are excited to partner with
Berkshire and LGP and believe our combined resources and experience
will help drive continued success going forward.”
About Berkshire Partners Berkshire Partners is a 100%
employee-owned, multi-sector specialist investor in private and
public equity. The firm’s private equity team invests in
well-positioned, growing companies across technology &
communications, consumer, healthcare, and services &
industrials. Since inception, Berkshire Partners has made more than
150 private equity investments and has a strong history of
collaborating with management teams to grow the companies in which
it invests. The firm's public equity group, Stockbridge, founded in
2007, manages a concentrated portfolio seeking attractive long-term
investments. For additional information, visit
www.berkshirepartners.com.
About LGP Leonard Green & Partners, L.P. (“LGP”) is a
leading private equity investment firm founded in 1989 and based in
Los Angeles with over $75 billion of assets under management. The
firm partners with experienced management teams and often with
founders to invest in market-leading companies. Since inception,
LGP has completed over 150 investments in the form of traditional
buyouts, going-private transactions, recapitalizations, growth
equity, and selective public equity and debt positions. The firm
primarily focuses on companies providing services, including
consumer, healthcare, and business services, as well as
distribution and industrials. For more information, please visit
www.leonardgreen.com.
About Linden Capital Partners Linden Capital Partners is
a Chicago-based private equity firm focused exclusively on the
healthcare industry. Founded in 2004, Linden is one of the
country’s largest dedicated healthcare private equity firms.
Linden’s strategy is based upon three elements: (i) healthcare
specialization, (ii) integrated private equity and operating
expertise, and (iii) its differentiated human capital program.
Since its founding, Linden has invested in over 45 healthcare
companies encompassing over 350+ total transactions. The firm
currently manages approximately $8 billion of regulatory assets
under management. For more information, please visit
www.linden.com.
About Vital Care Vital Care Infusion Services is a
franchisor of infusion pharmacies, dedicated to serving secondary,
tertiary, and underserved communities across the United States. The
Vital Care franchise network spans the country, with more than 160
infusion pharmacy locations providing high-quality, safe,
convenient, cost-effective infusion therapy services for chronic
and acute patients at a local level. Through Vital Care’s
streamlined, proprietary process and best-in-class support,
pharmacies can thrive while focusing on what matters most: the
patient. Vital Care was founded in 1986 by Johnny Bell. For more
information, visit www.vitalcare.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240801034406/en/
Media: Vital Care Amy Tolley
aetolley@vitalcare.com
Berkshire Partners Greg Winter gwinter@berkshirepartners.com
Leonard Green & Partners, L.P. (“LGP”)
communications@leonardgreen.com
Linden Capital Partners info@lindenllc.com