AVON, Conn., Aug. 9, 2017 /PRNewswire/ -- Women's Health USA,Inc. (Whusa), an Avon, CT-based provider of services to women's health physicians and practices, announced today that it had concluded a majority recapitalization with Sverica Capital Management LLC ("Sverica"), a private
Whusa was founded in 1997 and has built a leading national managed services platform focused on OBGYN and In Vitro Fertilization physicians. Robert E. Patricelli, founder, CEO and majority shareholder of Whusa, said: "Our new partnership with Sverica will give Whusa the capital and backing to grow faster and to be more supportive of women's health physicians who are looking to remain independent but at the same time be part of a national network of high quality professionals. I am particularly pleased that virtually all of the senior management team, who really built this company, are staying on for the next exciting chapter in Whusa's history." Whusa is the third Patricelli-founded company which he has built and successfully sold, following Value Health, Inc. (1987-1997), and Evolution Benefits, Inc. (2000-2010). Patricelli will step down as CEO after a transition period and will retain an equity stake in the company and serve on its board of directors. Nancy P. Bernstein will continue as President and Chief Operating Officer of the company.
David Finley, Managing Director at Sverica said: "We are pleased to partner with Whusa and its management team to continue building the leading women's health organization in the US."
Whusa provides OBGYN, In Vitro Fertilization, and other specialty women's health practices with a full suite of practice management solutions including payor contracting, revenue cycle management, EMR support, financial and human resource management, merger and acquisition support, ancillary services development, and risk management services. Whusa's unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization. See www.whusa.com for more information.
Sverica is a leading lower-middle-market-focused private equity firm that has raised over $700 million of investment capital across four funds. The firm acquires and actively builds companies that are, or could become, leaders in their industries. Since 2001, Sverica has maintained a "high touch" operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.
SunTrust Robinson Humphrey acted as exclusive financial advisor to Women's Health USA, and Dechert LLC acted as Women's Health USA's legal counsel. Sverica was advised by Foley Lardner LLP, The Marwood Group, and Alvarez & Marsal. Financial terms of the transaction were not disclosed.
Leslie StedmanVIce President, MarketingWomen's Health USA(860) [email protected]
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SOURCE Women's Health USA (Whusa)
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