INTRAFUSION RECEIVES STRATEGIC INVESTMENT
FROM LAKE CAPITAL
Capital to Support Growth of Physician Practice Management Services Firm
PITTSBURGH, PA, August 1, 2008 – intraFUSION™, a Houston-based specialized physician practice management company, has received a strategic investment from Lake Capital to support the company’s ongoing growth plans. intraFUSION provides turnkey management services to physicians who administer outpatient infusion therapies within their practice. From the initial set-up and staffing of the infusion center to billing, collections, materials management services, and more, this unique service allows doctors to practice medicine and focus more on patient care instead of running a business.
The Braff Group (TBG) initiated the transaction, conducted negotiations, and served as exclusive merger and acquisition advisor for intraFUSION.
Founded in 1999, intraFUSION manages physician office-based infusion centers ("OICs") in 14 states. The company’s management team is skilled and dedicated to serving its customers. Paul Provost, R.Ph., founded intraFUSION with a singular focus on providing the highest quality management service available for physicians. Carl Lampart, the company’s CEO, brings over 18 years of experience in infusion therapy in both the home and OIC setting. The company’s seasoned executives and strong client base position the company well for future growth opportunities.
"We have seen the demand for office-based infusion centers continue to grow. There are several additional attractive opportunities to serve our clients that we can pursue," said Provost. "With the investment and additional resources Lake Capital provides, we will be able to accelerate our plan to bring additional value-added services to our existing clients, including new areas of expertise, as well as pursue growth opportunities in our current and adjacent markets."
"intraFUSION has distinguished itself as a leader in physician practice management. We look forward to working with Paul and his team to continue to expand intraFUSION’s reach and capabilities," said Tony Broglio, a principal at Lake Capital. "intraFUSION’s client-focused approach and experienced management team has positioned the company to capitalize on growth opportunities while expanding their suite of service offerings."
"With an investment focus on service businesses – and a particular appetite for health care services – Lake Capital was an ideal partner for intraFUSION," commented Chuck Gaetano, TBG Managing Director for Infusion Therapy and Specialty Pharmacy Services, who led the transaction. "Moreover, this represents another in a series of platform investments by private equity in the pharmacy services market – a trend we expect to continue over the next 12-18 months."
About intraFUSION
Headquartered in Houston, TX, intraFUSION provides the solution both for physicians and their patients who need outpatient intravenous therapy. As a single-source manager for all aspects of office-based infusion services, intraFUSION leads the way in outpatient infusion management by affording a higher level of patient care while creating a new source of revenue for physicians. More information about intraFUSION is available at www.intrafusion.com
About Lake Capital
Lake Capital is a private equity firm that focuses on investments in service-based enterprises across various industries. The firm currently manages more than $1.3 billion in equity commitments and seeks to build leading services companies through organic and acquisition-enhanced growth. More information about Lake Capital is available at www.lakecapital.com
About The Braff Group
The Braff Group is the leading investment banking firm specializing in thehome health care, hospice, infusion therapy, specialty pharmacy, health care staffing, and home medical equipment market sectors. The firm provides an array of transactional advisory services including sell side representation, debt and equity recapitalizations, strategic planning, and valuation. Since being founded in 1998, The Braff Group has completed more than 115 transactions. In 2006, the firm was awarded Healthcare Deal of the Year by the M&A Advisor, a leading publication dedicated to middle market merger and acquisition activity – the third consecutive year The Braff Group received this award. The firm was also recognized as a finalist for Boutique Investment Banking Firm of the Year in 2005, 2006 and 2007. Additionally, the firm has been honored as one of the fastest growing companies in the Pittsburgh Region by the Pittsburgh Business Times. More information about The Braff Group is available at www.thebraffgroup.com
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