Court Square Capital Partners has acquired medical supply distributor company NDC from Silver Oak Services Partners LLC. Financial terms were not disclosed.
NDC, headquartered in Nashville, provides health care fulfillment and delivery services such as dental products and vaccines. The company receives the supplies from manufacturers and ships them either directly to customers or other local distributors. Silver Oak purchased NDC in 2010 and has expanded the target through add-on acquisitions.
Court Square, based in New York, has experience investing in the health care sector. In 2015, the firm sold generic drug distirbutor Harvard Drug Group to Cardinal Health Inc. (NYSE: CAH). Silver Oak, located in Evanston, Illinois, focuses on businesses that have up to $20 million in Ebitda and $150 million in revenue across the business services, health care and consumer sectors.
An aging population has been requiring more patients to receive treatments outside of hospitals and physicians offices, which has been driving up demand for medical suppliers. In 2015, C.R. Bard Inc. (NYSE: BCR) agreed to buy Liberator Medical Holdings Inc. For more, see Aging Population Drives Home Nursing Deals.
William Blair and Locke Lord LLP advised the sellers. Dechert LLP represented Court Square Capital Partners.