MONTREAL, Jan. 10, 2012 /CNW Telbec/ - Persistence Capital Partners LP
("PCP"), a private equity fund exclusively focused on high-growth
opportunities in the healthcare field, is pleased to announce that it
has sold the Independent Medical Assessment division ("Medisys IMA") of its portfolio company, Medisys Corporate Health LP ("Medisys") to SCM Insurance Services, a leading provider of claims management,
risk management, and related services to Canada's insurance and
corporate industries. SCM Insurance Services is a portfolio company of
Medisys IMA is a leading Canadian provider of independent medical
examinations to the automotive, disability, liability and workers'
compensation markets. PCP acquired Medisys IMA in March, 2008. Since
that time, Medisys IMA has achieved significant organic revenue and
EBITDA growth with compound annual growth rates in excess of 19% and
33%, respectively. PCP achieved a return of 3.6x on invested capital
and a gross IRR of 42%.
Commenting on the transaction, Stuart M. Elman, Managing Partner at PCP,
said, "Medisys IMA has been an outstanding investment for PCP, but more
than achieving an excellent result for our investors, we have been
privileged to work with Medisys IMA's management team to build a great
business, and we wish them continued success as they now become a part
of SCM Insurance Services to capitalize on a new set of opportunities."
Medisys is a leading Canadian provider of healthcare services to
corporations. Through its national network of facilities, including
offices in Montreal, Toronto, Ottawa, Calgary, Vancouver and Quebec
City, it delivers preventive, diagnostic and consultative healthcare
services to more than 4,000 corporations, including 320 companies of
the Financial Post 500. Following the sale of Medisys IMA, Medisys will focus exclusively on
its executive and occupational health clinic businesses.
About Persistence Capital Partners
Persistence Capital Partners is a private equity fund exclusively
focused on high-growth opportunities in the healthcare field. With
deep healthcare industry expertise, PCP aims to create significant long
term capital appreciation for its investors by identifying and
developing attractive investment opportunities in the healthcare
market, with a focus on healthcare services businesses across a broad
spectrum of the healthcare sector.
SOURCE Persistence Capital Partners
For further information:
Persistence Capital Partners
Stuart M. Elman