Kinderhook Industries Acquires GlobalHealth, Inc.
NEW YORK, NY, February 3, 2014-- Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of GlobalHealth, Inc. (“GlobalHealth”), a leading HMO in the state of Oklahoma. GlobalHealth is Kinderhook’s [sixth] healthcare platform investment and [twelfth] purchase in the space, including add-on acquisitions. Financial terms of the transaction were not disclosed.
Headquartered in Oklahoma City, GlobalHealth is a leading health maintenance organization (HMO) in Oklahoma, serving over 40,000 members. The Company is the largest private HMO serving Oklahoma’s state, education and municipal employees. GlobalHealth also offers several Medicare Advantage plans and is one of five companies to offer health plan options on the Federal Healthcare Marketplace in Oklahoma.
“We are excited about our new partnership with Kinderhook which will enable us to expand our affordable health plans to more citizens in Oklahoma,” said Scott Vaughn, CEO of GlobalHealth. “Our mission is to make quality health care more affordable for the communities we serve. The Kinderhook team shares our strategic vision of bringing our unique healthcare delivery model to more Oklahomans and creating more consumer choices in the marketplace.”
Chris Michalik, Managing Director at Kinderhook Industries, stated that, “Under Scott's leadership, GlobalHealth has served its members very well and has made great strides toward bending the healthcare cost curve through its common sense approach to healthcare delivery. The combination of GlobalHealth’s unique delivery model and the significant changes to the U.S. healthcare industry creates a tremendous opportunity for GlobalHealth to offer affordable health plans to more citizens in Oklahoma. We are very excited to partner with Scott and his management team and to accelerate the success of GlobalHealth.”
Kirkland & Ellis LLP served as legal counsel to Kinderhook. McAfee & Taft served as legal counsel to GlobalHealth. Allegiance Capital Corporation served as financial adviser to GlobalHealth.
About Kinderhook Industries
Founded in 2003, Kinderhook Industries is a private equity firm with $770 million of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies in which the firm can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook Industries has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com .
GlobalHealth, Inc. is an Oklahoma based health maintenance organization (HMO) with offices in Tulsa and Oklahoma City. It provides affordable health insurance coverage for individuals, employers, Medicare beneficiaries, federal employees, and state, education and municipal government employees. For more information please visit: www.globalhealth.com.
Venture Capital Database
Venture Capital Deals Spreadsheet