Case Study

Supporting an Early Stage, Founder-Owned Healthcare Technology Company

holding hand in support

“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
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