Atlanta, Georgia – Edge Healthcare Partners is pleased to announce that Palmetto Infusion Services, L.L.C. (“Palmetto”), one the nation’s largest independent ambulatory infusion center (“AIC”) operators, has been recapitalized by Carousel Capital (“Carousel”), a leading middle market private equity firm. The terms of the transaction, which closed on April 16, 2019, were not disclosed. Edge Healthcare Partners originated the transaction and served as the exclusive financial advisor to Palmetto.
“Our partnership with Carousel will allow Palmetto to accelerate its strategic mission of providing high quality, compassionate infusion services to patients throughout the Southeast and beyond,” said Gary Cooper, Founder and Managing Member of Palmetto. “Having worked with and known the team at Edge Healthcare Partners for many years, we felt confident that they were the trusted advisor we needed to help us facilitate such a transformational transaction for our company.”
“We look forward to partnering with Carousel and believe that combined with the efforts of our talented and dedicated employees, Palmetto will continue to be a leader in providing quality infusion services for patients with complex and chronic conditions,” added David Goodall, Chief Executive Officer of Palmetto.
“We are very excited to partner with the Palmetto management team to further enhance and grow the platform. We believe the confluence of industry fundamentals, the payor landscape and patient preference will further supplant Palmetto as the leading AIC operator in the nation,” said Charles Grigg, Managing Partner of Carousel. “This is the fourth transaction that we have worked on with the Edge Healthcare Partners team, and we continue to be impressed by the dedication, experience and expertise that the professionals at Edge possess.”
Based in Pawley’s Island, South Carolina, Palmetto is a leading provider of high-touch specialty infusion services to patients with complex, acute and chronic conditions. The company primarily delivers care to its 4,500 patients through its dense network of ambulatory infusion centers. As the nation’s largest independent and most well-respected AIC operator, Management has developed the clinical and operational programs to focus on providing the highest quality, compassionate care for patients, payors and referring physicians. For more information, visit www.palmettoinfusion.com.
About Carousel Capital
Carousel Capital is a private equity investment firm that invests in companies located in the Southeastern United States and has received commitments of more than $1.2 billion in capital across its funds.
Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs across the region. Since its inception, Carousel has invested in 37 companies primarily in three service sectors: business, consumer and healthcare. For more information about Carousel Capital, visit www.carouselcapital.com.
About Edge Healthcare Partners
Edge Healthcare Partners is an independent Atlanta based investment banking firm focused on providing merger and acquisition services to leading private and public healthcare companies and private equity firms. Edge Healthcare Partners also assists companies with raising capital for growth, acquisitions, recapitalizations, going-private and management buy-out transactions. The professionals of EdgeHealthcare Partners have over 65 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare, with a particular focus on post-acute, multi-site and outsourced healthcare services providers. Securities are offered through EHCP Corporate Finance, Member FINRA and SIPC. For more information, visit www.edgehcp.com.