Periscope Equity, a lower middle-market private equity firm focused on investments in technology-enabled service and software companies, has added MAS Medical Staffing LLC to its portfolio through a recapitalization in partnership with management. This is the first platform investment to be deployed from Periscope Equity II LP.
MAS is a tech-enabled medical staffing agency primarily serving long-term care facilities in the Northeast region of the U.S.
MAS Founder and CEO, Ken Johnson said, “We are thrilled to have selected Periscope as our new financial partner. As we leverage our Maestra platform to enter new geographies, our growth is accelerating. Having a partner that not only understands how to support a rapidly expanding business and technology platform but also has expertise in our specific sector is critical. The Periscope team has demonstrated that they understand our needs, employ a partnership approach, and have the capabilities, experience, and resources to help propel MAS to its fullest potential.”
“As a leading tech-enabled medical staffing agency, with a long history of serving long-term care, we believe MAS has a unique capability—and responsibility—to appropriately deploy innovative new technologies via its hybrid service model that ensures reliable, compliant, and efficient service is delivered,” said Periscope partner John Findlay. “Leveraging MAS’ business, team, culture, technology, and brand recognition, we expect MAS to expand its geographic footprint to become the leading provider of these services to long-term care facilities throughout the country.”
Periscope vice president Joe Mcilhattan said, “MAS’ growth has been a direct result of its ability to recruit, retain, and match talented nurses to staffing needs through their Nurse-First approach. The culture of continuous improvement has developed high-performing, highly engaged, and motivated team members that are committed to serving the needs of the nurses and facilities by leveraging an innovative marketplace platform. We are excited to work with Ken and the management team on the next phase of the Company’s growth and drive innovation.”