LongueVue Capital Invests In Prime Health Services
$8.0 Million in Debt Financing to Support Growth of Leading Healthcare Cost Containment Provider
NEW ORLEANS, March 20, 2014-- LongueVue Capital ("LVC"), a New Orleans-based private equity firm, announced today it has invested $8.0 million of senior secured debt in Prime Health Services ("Prime Health"), a leading national provider of medical cost containment solutions.
Founded in 2001 and headquartered in Brentwood, Tennessee, Prime Health is a diversified medical cost containment company that offers a full spectrum of services, including a nationwide Preferred Provider Organization ("PPO") as well as leading medical cost containment solutions. Prime Health's cost containment services are tailored to the Workers' Compensation, Auto Liability and Corrections markets. The company's primary customer base includes insurance companies, third party administrators, and self-insured employers.
"Prime Health has become a leading provider of cost containment solutions in a niche market and is recognized for providing high quality and customized solutions for its customer base," said John McNamara, Co-founder and Managing Partner of LongueVue Capital. "We are enthused to partner with the company and provide capital in support of the build out of Prime's capabilities to support the workers' compensation, auto and corrections markets."
"We are excited about our partnership with LongueVue Capital and appreciate the opportunity to partner with an experienced institutional investor like LVC," said Prime Health President and Chief Executive Officer, Brian Sharp. "This financing enables our company to continue to focus on the evolving needs of our customers as we develop a breadth of offerings that will create additional savings within the complex healthcare system."
ABOUT LONGUEVUE CAPITAL
LongueVue Capital is a private equity company focused on making value-oriented equity and debt investments in lower middle market companies (up to $100 million of revenue) to support buy-outs, recapitalizations, acquisitions, and growth. Since its formation in 2001, LVC has made successful investments in a wide variety of industries, including energy services, third-party logistics and electrical and instrumentation services. LVC is based in New Orleans with additional offices in New York and Salt Lake City. For more information, please visit www.lvcpartners.com.
Prime Health was advised by TGP Securities on the transaction (www.tgpsecurities.com).
Venture Capital Database