Medindia » Press Release » PartsSource Brings in Minority Partners to Leverage Future Growth Opportunities

PartsSource Brings in Minority Partners to Leverage Future Growth Opportunities

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AURORA, Ohio, Aug. 19 PartsSource, the nation's leadingsupplier of replacement medical repair parts for hospital equipment, hascompleted a minority transaction with Boston-based Polaris Venture Partnersand Cleveland-based Primus Capital. PartsSource's existing management teamwill leverage this new relationship to continue its fast and profitablegrowth.

"We are excited to bring on board two investment firms as highly regardedas Polaris and Primus," said President & CEO A. Ray Dalton. "We are confidentthat both of our new partners will be instrumental in accelerating thecompany's growth in 2008 and beyond. We were interested in a business partnerthat could provide more than just capital and both of these firms fit the billperfectly."

PartsSource has been the recipient of multiple local, regional andnational awards for growth, community service and profitability over the pastfive years. PartsSource was ranked the #1 company in Northern Ohio on theprestigious Weatherhead 100 for 2006 in addition to being placed on the IncMagazine 500 in 2006 and 2007. President and CEO A Ray Dalton was given the"Entrepreneur of the Year" award by the accounting firm of Ernst & Young for2004 & 2007 and also published his inspirational autobiography; "Proceed withConfidence" in 2005.

SOURCE PartsSource

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