The Promptcare Companies, Inc.: Clark, NJ: a former MidMark Capital portfolio company.
Infusion and respiratory services in a home setting.
PromptCare was an orphan division of a European-based company with one location in Clark, NJ. A local deal broker introduced us to the opportunity and we acquired the business.
We spent considerable energies building a strong management team. Once this team was in place, we helped strategically realign the company’s business model away from PromptCare’s traditional commodity product lines and toward highly complex therapies focused on specific disease states. We initiated and closed on numerous acquisitions which enlarged PromptCare’s footprint and furthered our strategic transformation of the business. We also launched an aggressive organic growth campaign in which we opened 15 new locations and entered six new states.
PromptCare became the fastest growing ventilator provider in the country and one of the leading specialty infusion companies in the mid-Atlantic region. From its one location in New Jersey, the company grew to 17 respiratory branches and four infusion pharmacies in a footprint covering nine states. During our ownership, revenue grew from $15 million to $103 million. PromptCare was sold to a financial buyer that was attracted by and intent on continuing our growth strategy.