SeaFort Capital Announces First Investment Under Mable Health Platform
HALIFAX, NS, June 3, 2024 /CNW/ - SeaFort Capital ("SeaFort") announces today that it has made a majority investment in The Medicus Group ("Médicus"), which represents Mable Health Inc.'s ("Mable") inaugural investment in the orthotics, prosthetics, and mobility aids industry. Headquartered in Montreal, Quebec, Médicus has been a leading provider of orthotics, prosthetics and mobility aid devices since 1957. The Company operates 19 clinics and employs more than 250 staff, including 145 orthotists, prosthetics, technicians, and other healthcare professionals.
Médicus' General Manager, Michel Lanctôt, will now serve as the President of Mable Health and Médicus and will oversee Mable Health's rollout of a national platform. Mr. Lanctôt commented, "We are very excited to be partnered with SeaFort Capital and to support the growth of the Mable Health business. We have a successful track record of operating an industry leading business which we are excited to leverage in expanding Mable Health across Canada."
Rob Normandeau, SeaFort's Managing Partner and President, commented, "This is SeaFort's second investment in SeaFort Capital Fund II and SeaFort's first investment in the healthcare sector. We have put a strong team in place to allow us to execute on a national buy-and-build strategy in the orthotics and prosthetics ("O&P") space and we are excited about future partnerships in Mable Health."
Mable Health acquired Médicus from Metro Inc. and the Bleau Family. In addition to SeaFort Capital Fund II LP, Michel Coutu, Jacinte Bleau, and Michel Lanctôt are now shareholders in Mable Health with Médicus existing as a wholly-owned subsidiary. Michel Coutu will serve as Board Chair for Mable Health. Mr. Coutu previously served as the President and CEO of The Jean Coutu Group USA, was a member of the Board of Directors of the National Association of Chain Drug Stores in the United States, and was Co-Chair of the Board of Directors of Rite Aid Corporation.
Mable Health will continue to focus on building a national platform, expanding across Canada through strategic acquisitions, partnerships, and greenfield expansion.
Based in Montreal, Quebec, Médicus has been a leading provider of orthotics, prosthetics and mobility aid devices since 1957. Médicus employs more than 250 staff who are focused on delivering exceptional patient outcomes through a network of 19 locations. During its more than 65-year operating history, the business has grown to become a leader in O&P care and is committed to the well-being and quality of life of customers by improving their mobility, performance, and comfort. For more information, please visit www.medicus.ca.
Mable Health is focused on making investments and acquiring businesses in the orthotics, prosthetics, bracing, and mobility aids industries. Mable Health was formed in partnership with SeaFort Capital in early 2023. Mable Health is focused on delivering best-in-class patient outcomes through each of its partnerships across Canada. For more information, please visit www.mablehealth.ca.
Based in Halifax, Nova Scotia, SeaFort Capital is a private equity firm that invests in lower-mid-market Canadian businesses with EBITDA ranging from $2 million to $15 million. SeaFort is a growth-oriented investor that seeks to establish long-term partnerships to help grow industry-leading Canadian companies. SeaFort targets investments in the business services, value-added distribution, specialty manufacturing, and health services sectors. SeaFort Capital is investing SeaFort Capital Fund II LP, which currently has committed capital of approximately $189 million. For more information, please visit www.seafortcapital.com.
SOURCE SeaFort Capital Inc.
Rob Normandeau, Managing Partner & President, SeaFort Capital Inc., E-mail: [email protected], Website: www.seafortcapital.com
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