Halyard Capital Closes Acquisition of HCPro, Inc.
HCPro is the nation's leading provider of integrated informational, educational, training and advisory products and services in the vital areas of healthcare compliance, regulation and management. The company meets the specialized needs of healthcare managers through a wide range of delivery platforms including print and electronic newsletters, e-mail services, magazines, books, online databases, software, broadcast events, seminars, conferences, classroom training, consulting and videos.
"HCPro is a trusted source for mission-critical compliance, regulatory and management content in the healthcare industry," said Robert B. Nolan Jr., managing partner at Halyard Capital. "By combining our industry knowledge with the company's talented management team and diverse portfolio of products and services we look forward to continuing the robust growth of HCPro's leading market position."
Michael Furey, a principal at Halyard, added: "HCPro is an indispensable information source and content delivery vehicle for healthcare managers."
"We are delighted that Halyard is our equity partner and are excited about the opportunity to work closely with them to build on HCPro's significant momentum," said Bruce Guzowski, president and chief executive officer of HCPro. Guzowski added that "There will be absolutely no changes to HCPro's operations as a result of this transaction. Current management continues to be a major investor in the Company's equity with 19 members of the company's management team investing alongside Halyard."
HCPro has completed 20 add-on acquisitions since 2003. "With the support of Halyard, we are well positioned to realize on our long-standing strategy of both organic and acquired growth," added Guzowski.
Halyard Capital received legal counsel from Edwards Angell Palmer & Dodge LLP. GE Capital, Newstar Financial and CapitalSource provided financing for the transaction. Riverside was advised in the transaction by Berkery Noyes Capital Markets.
About Halyard Capital
Halyard Capital is a New York-based private equity firm with over $600 million of capital under management, focused on investing opportunities within the media, communications and business services industries. Halyard specializes in middle-market leveraged buyouts and growth equity investments. The firm has extensive experience and a proven track record within each of these sectors with investments including ImpreMedia, EducationDynamics, WMI, Engauge and Presidio Networks.
Halyard invests in and works closely with exceptional management teams in companies with defensible market positions and franchise characteristics which generate strong cash flows and operate in attractive growth markets. The firm's investment funds will commit up to $40 million to individual portfolio companies with a focus on investments of between $15 million and $40 million. Halyard has the ability to complete larger transactions utilizing its network of investment partners. Additional information regarding Halyard's strategy, principals and investments can be found at www.halyard.com.
HCPro is the largest provider of information, educational, and advisory products and services in the vital areas of compliance, regulation, and management to the U.S. Healthcare Industry. The company delivers its mission-critical content in a wide variety of complementary, integrated formats, including print and electronic newsletters, e-mail services, magazines, books, online products, software, broadcast events, seminars, conferences, classroom training, consulting, membership programs and videos to meet the specialized needs of healthcare managers. The Company's leading brands, HCPro, HealthLeaders Media, and The Greeley Company, are well-known and highly respected by healthcare managers.
Robert B. Nolan
President and CEO
(212) 279-3115 ext 245
- CEO Exchange: Preparing for Population Health
- EHR Systems 'Immature, Costly,' AMA Says
- Advocate, NorthShore Deal Would Create 16-Hospital System
- Better HCAHPS Scores Protect Revenue
- Narrow Networks Cut Costs, Not Quality, Economists Say
- 3 Strategies for Retaining Millennial Employees
- 'Early Offer' Malpractice Programs May Spur Reform
- Interstate Medical Licensure Effort Advances
- Power of price: In South FL and the nation, healthcare costs often are shrouded in secrecy
- Two NY hospitals to offer free hip and knee replacement surgeries for qualifying patients in December