Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, announced today a majority investment in Vital Care, Inc. (“Vital Care” or the “Company”) alongside current shareholders (the Bell family) and management. Founded in 1986 and headquartered in Meridian, Mississippi, Vital Care is the premier franchisor of home infusion services, with franchises serving a wide range of patients including those with chronic conditions as well as acute conditions. The Company supports over 50 franchises across 20 states with a focus on the underserved secondary markets.
Johnny Bell, founder of Vital Care, stated “We are proud of the business we have built at Vital Care, which enables our franchises to provide critical infusion services to seriously ill patients in more convenient and lower cost of care settings. Our tagline that ‘at home is better, at home is safer’ continues to ring true. We chose to partner with the Linden team due to their exclusive focus on healthcare investing, their unique relationships and insights, and their high-integrity practical approach.”
“We are very excited to enter into this strategic partnership with Linden, who brings deep healthcare expertise, human capital support, and a value-creation mindset, which we look forward to leveraging to grow the Vital Care system and support our existing and new franchisees for even greater success,” said Ed Eiland, CEO of Vital Care.
“Johnny Bell, Ed Eiland, and the entire management team at Vital Care have built a fantastic franchise-based infusion business. We look forward to supporting and partnering with the team and franchisees to continue the attractive growth trajectory of the system,” said Michael J. Sicilian, Operating Advisor at Linden, and incoming Chairman of Vital Care. Mr. Sicilian brings a wealth of experience, with prior roles in the pharmacy and infusion space as the President/CEO of Managed Healthcare Associates (MHA) and President of BioScrip.
Piyush Shukla, a Partner at Linden, and incoming board member at Vital Care, added “Our investment in Vital Care is a direct result of our dedicated pharmacy services sector effort developed in conjunction with our deep pool of operating advisors. We look forward to supporting the entire Vital Care team and franchise system to further build on the tremendous business built by Johnny Bell.” Linden’s Brian Miller and Prab Chawla have also joined the Board of Vital Care, alongside Ed Eiland (Vital Care CEO), Jonathan C. Bell (Bell family representative), David Crisalli (former CEO of Massage Envy), and Steve Foreman (CEO of Solara Medical Supplies).
Kirkland & Ellis LLP and Houlihan Lokey served as legal advisor and financial advisor to Linden, respectively. Deloitte Corporate Finance served as the exclusive financial advisor to Vital Care. Twin Brook Capital Partners provided debt financing for the transaction.
October 19, 2020