Satori Capital Invests in Austin-based Longhorn Health Solutions
DALLAS, February 20, 2013-- Satori Capital (“Satori”), a Dallas-based private equity firm, announced today that it has invested in Longhorn Health Solutions, Inc. (“Longhorn”). Headquartered in Austin, Texas, Longhorn is a leading direct-to-home provider of consumable medical supplies, durable medical equipment, and pharmaceutical prescriptions serving the Medicaid, Medicare, and privately insured populations across Texas.
“Longhorn is intently focused on reducing total cost-of-care for managed care organizations by streamlining billing processes, improving patient utilization and compliance, enhancing product quality, and heightening transparency throughout the patient, provider, and payor ecosystem,” said Sunny Vanderbeck, Managing Partner at Satori. “We believe in the team’s service-based approach, and look forward to partnering with them to further serve the growing needs of their stakeholders.”
Longhorn offers customers a comprehensive range of high-quality disposable medical products, incontinence supplies, durable medical equipment, enteral nutrition products, and diabetic testing supplies. The company is a contract provider for managed care organizations within Texas Medicaid STAR+PLUS, STAR, and Medicare. Longhorn also recently launched a pharmacy division that serves the entire state of Texas. The company employs nearly 150 team members, and leverages its ten branch locations to utilize a high-touch delivery model. Britt Peterson, founder and CEO of Longhorn, will continue to lead the company.
“Longhorn has earned a reputation for excellence through its reliable performance, dedicated customer service, statewide presence, and commitment to integrity and kindness across everything that we do,” said Britt Peterson, Longhorn CEO. “Our partnership with Satori provides access to a deeper network of healthcare expertise, a valuable collection of operational best practices, and ample resources for both organic expansion and growth via acquisition. Collectively, these resources strengthen Longhorn’s ability to provide higher quality products and services that improve patient outcomes, while also providing manufacturers with cost-effective access to a highly fragmented home health patient base.”
The Brookside Group provided debt financing for the transaction, and Allegiance Capital Corporation acted as exclusive financial advisor to Longhorn. Patton Boggs LLP and Munsch Hardt Kopf & Harr, P.C. acted as legal counsel to Satori Capital and Longhorn Health Solutions, respectively. Specific terms of the transaction were not disclosed.
About Satori Capital
Dallas, Texas-based Satori Capital is the preferred capital partner for companies building significant long-term value through a sustainable approach. Satori’s team has a long and successful track record as private equity investors and founders and CEOs of both private and public companies. Satori partners with talented management teams to accelerate the growth of companies that are "built to last" and meet a set of criteria described as “sustainability.” These businesses deliver strong returns by operating with a long-term perspective, committing to their mission or purpose, and focusing on creating value for all stakeholders. For more information, please visit www.satoricapital.com.
About Longhorn Health Solutions
Longhorn Health Solutions is a leading service-oriented, direct-to-consumer distributor of durable medical equipment, consumable medical supplies, and pharmaceutical prescriptions to home-based Medicaid, Medicare, and privately insured patients across Texas. Based in Austin, Texas, the company offers statewide distribution from its ten locations in Austin, Beaumont, Corpus Christi, El Paso, Fort Worth, Harlingen, Houston, Lubbock, San Antonio, and Waco. For more information, please visit www.longhornhealth.com and www.lhsrx.com. Contact:
Satori Capital, LLC
Colin McConnell, 214-390-6279
Investor Relations
colin@satoricapital.com
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