Jordan Co. Sells HGI
CD&R, GS Capital team up in healthcare secondary deal.
July 27, 2010
While strategic bids have been increasing in the healthcare space, it seems that regularly, financial buyers are stepping up to make investments. Buyers including Cerberus Capital Management, Irving Place Capital and Avista Capital have sought to make deals all over the sector through various plays.
The Jordan Co. sold its HGI Medical Holdings Inc., a mail-order distributor of medical supplies for chronic disease patients, to private equity firms Clayton Dubilier & Rice and GS Capital Partners.
Based in Ohio, HGI operates two separate divisions, Edgepark Medical Supplies and Independence Medical, covering thousands of patients and commercial customers.
Adam E. Max, managing principal for The Jordan Company, worked on the deal. Terms were not disclosed and calls seeking comment were not acknowledged by press time.
Jefferies & Co. acted as financial advisor to HGI. Mayer Brown acted as legal advisor to The Jordan Company. GS Capital Partners is a private equity firm backed by Goldman Sachs.
Among the Jordan Company’s other healthcare investments are Harrington Holdings, a products distributor, Zest Anchors, Wound Care Holdings and Worldwide Clinical trials.
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