Sarnova Announces Acquisition of CVC, Inc. to Expand Portfolio of Specialty Medical Products
LINCOLNSHIRE, Ill., Jan. 12 Sarnova, Inc., the nation's leading specialty distributor of health care products in the emergency medical services (EMS) and respiratory markets, announced today that it has acquired CVC, Inc. Headquartered in Arlington, Texas, CVC is a supplier of products to the acute care respiratory and emergency medical services markets.
The privately negotiated transaction further expands Sarnova's portfolio of specialty medical products and its distribution network in the Southwestern United States. The acquisition is Sarnova's third since it partnered with Water Street Healthcare Partners, a leading private equity firm focused exclusively on health care, in 2008.
"Acquiring CVC provides us with access to several attractive, exclusive product lines that support our goal of offering our customers leading technologies that help them achieve improved patient outcomes," said Greg Robitaille, executive vice president, corporate development, Sarnova. "CVC's experienced sales force and strong presence in its ten-state market also enhances our clinical expertise and deepens our customer relationships in the Southwest."
Richard Manley, co-owner and president of CVC, added: "Sarnova's clinical expertise and commitment to serving its customers is the reason it is the leading provider of products to the acute care respiratory and EMS markets. We are excited to bring together our experienced sales force and customer support team with Sarnova to bring more clinically differentiated products to customers in the Southwest and across the country."
Since Water Street's investment in Sarnova in 2008, the company has grown to become the nation's leading specialty health care distributor, offering more than 100,000 products to thousands of emergency medical providers and acute care respiratory centers across the country.
"Our goal is to continue to extend Sarnova's leadership position," said Kevin Swan, a member of Sarnova's board of directors and a partner with Water Street Healthcare Partners. "We are focused on identifying additional acquisition opportunities that will build on Sarnova's strong foundation, and expand its portfolio of leading medical products and technologies."
About Sarnova, Inc.
Sarnova is the nation's leading specialty distributor of health care products to the emergency medical services (EMS) and acute care respiratory markets. It sells and distributes more than 100,000 health care products to thousands of emergency medical providers, hospitals and surgery centers through distribution centers located across the country. The company is comprised of two major brands: Bound Tree Medical and Tri-anim Health Services. To learn more, please visit www.boundtree.com or www.tri-anim.com.
About Water Street Healthcare Partners
Water Street Healthcare Partners is a leading private equity firm focused exclusively on health care. With more than $1 billion of capital under management, Water Street is one of the most active investors in the health care industry. The firm has a strong record of building market-leadership companies across key growth sectors in health care. It has partnered with some of the world's leading companies on its investments including: Johnson & Johnson, Medtronic and Smith & Nephew. Water Street's team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.
SOURCE Sarnova, Inc.
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