“We will always engage Newport on every future healthcare deal we review going forward, as our PE firm sources and invests in new deals.”
Private Equity Managing Partner
Insights
- A private equity firm was seeking to add healthcare companies as a new vertical to their developing portfolio
- The Newport Healthcare Group was introduced to the PE firm through a close investment banking relationship
- Newport was retained to perform diligence and assess an early stage, founder-owned technology services management healthcare firm that provides services technology and telemedicine to senior living communities
Action
- A Newport partner was engaged to source the management team after concluding that existing team was substantially inexperienced to grow the business
- The existing management team was privately assessed and placed in positions which best utilized their skills
- Key leadership positions were identified and filled
- A growth-oriented strategy was developed which highlighted key areas where resources were needed to leverage and grow the business
- New market verticals were identified and selected
Results
- The Newport partner was retained by the founder to serve on the Board to continue to reshape the organization and provide CEO advisory services
- Revenue grew 75% and profitability grew 50% over 18 months
- Market share increased by 30% and value of business nearly doubled in 18 months
