Advised on Recapitalization of CompanyHealthcare
Acquired Majority Control of Business Operations
Advised Accurate Monitoring, a leading provider of outsourced Intraoperative Neurophysiological Monitoring (IONM) services to hospitals and surgical groups, on its recapitalization with private equity firm Housatonic Partners.
Accurate’s highly-skilled technologists and customized multimodality neuromonitoring protocol play a vital role in reducing the incidence of post-operative complications. Additionally, the Company is lauded for its philosophical approach to neuromonitoring centered on the individual patient and focusing on risk factors that are specific to each surgical procedure. The Company is well regarded for the quality and clinical expertise of its staff, and has cultivated long-standing relationships with leading hospitals and top surgical teams in its market. Accurate was also one of the first IONM providers to secure Joint Commission Accreditation.
Housatonic Partners is a private equity investment firm with more than $1.3 billion in capital under management. The Company has backed exceptional management teams in more than 90 small to mid-sized companies over the last 22 years.
Accurate sought a growth equity partner to continue regional and national expansion. Housatonic's expertise and capital enables Accurate to expand their ability to provide high quality outsourced clinical services to new markets. This partnership between Accurate and Housatonic comes at a time when specialized outsourced clinical service companies are benefiting from increased emphasis on patient outcomes, greater number of insured individuals and increased healthcare utilization resulting from the Affordable Care Act, and the migration towards value-based reimbursement models from Medicare and private payers.
"Healthcare providers are increasingly relying on outsourced service providers with the experience and clinical skill sets to help enhance patient safety, lower costs through reduced patient stays, respond quickly to fluctuating patient levels/demand, and avoid expensive and resource consuming hospital readmissions. Thus, we expect the outsourced clinical services sector to experience heightened M&A activity as private equity and strategic suitors look to capitalize on favorable demographic and industry trends,” said Eric Williams, Managing Director of the Philadelphia-based Capstone deal team.