Location: Saint Paul, MN
Industry: Biomedical Services- Medical Equipment Testing & Repair
DVS Role: Buy-Side Advisory to Strategic Corporate Buyer
The Buyer: HMS Health offers comprehensive medical equipment service and maintenance to hospitals and healthcare facilities. Services include inventory management, preventive maintenance, and repair of all patient-based technologies including biomedical, imaging, laboratory, and specialty equipment. Their experienced technicians allow them to provide to their clients efficient repairs and maintenance, effective inventory management and prompt, professional service.
The Seller: Advanced Clinical Technology Services (http://www.actservice.net) was founded in 2001 by Sue Finney, CBET. ACT Services started out as a small home-based business and over ten years later with a long list of satisfied clients it grew into a full-service biomedical services leader. ACT services all types of medical equipment with a mission to offer clients and the healthcare community the very best in biomedical services.
The Close: DVS initially spoke to Sue Finney in the summer of 2013 during the initial outreach that led to the purchase of Crawford Diversified Services by HMS Health. DVS followed up with Ms. Finney in 2014 to see if the time was right for her to reconsider selling, and in fact she had gone through the process of listing the business for sale. Working with Ms. Finney, her broker, and management at HMS Health, DVS was able to negotiate a deal that paid a fair price as well as gave her the chance to earn significant upside as she assisted with integration and growth. The transaction expanded the reach of both organizations by combining the best-in-class operations in their respective markets.