CLEARWATER, Fla., Oct. 3 /PRNewswire/ -- Warburg Pincus, the global
private equity firm and a leading healthcare investor, has acquired CCS
Medical for approximately $360 million and MP TotalCare for approximately $270
million in separate transactions. The newly combined company will operate
under the CCS Medical name. The merger creates one of the largest and fastest
growing direct-to-consumer providers of diabetes and other medical supplies in
the United States.
"This transaction brings together the strength and experience of two great
companies," said David Wenstrup, a Warburg Pincus Managing Director. "Both
companies have built leadership positions in their markets through a
commitment to excellence in patient care and in developing strong
relationships with healthcare professionals, which is clearly the most
effective way to market healthcare services."
CCS Medical's combined sales force now includes more than 180
professionals, making it the largest in the industry. The sales force remains
focused on developing and maintaining referral relationships with physicians,
diabetes educators and other healthcare professionals.
CCS Medical will continue to provide the highest quality products and
services to people living with chronic conditions. The company provides
patients with a comprehensive portfolio of diabetic, insulin pump, wound care,
urological, ostomy, incontinence and respiratory supplies, and prescription
medications. The company's broadly diversified product offering and its
reimbursement expertise in the Medicare, Medicaid and commercial insurance
markets position the company extremely well to serve a large and growing
market of patients suffering from diabetes and other chronic conditions.
Howard Deutsch, former Chairman and CEO of MP TotalCare, and new Executive
Chairman of CCS Medical commented: "The combination of these two, market-
leading companies creates a unique platform that is focused on key trends in
the delivery of healthcare services." He added: "The continued rapid growth
of chronic conditions in the United States, especially diabetes, coupled with
demographic trends and the increasing preference of mail-order fulfillment,
make CCS Medical's combined scale, expertise and product breadth a powerful
platform for future growth."
Joe Capper, who is now CEO and President of the combined CCS Medical
organization, said: "We have brought together two of the strongest management
teams and most efficient operations in the industry." He added: "Our unique
ability to assist healthcare professionals as they seek to provide high
quality care and a dedication to customer service will enable us to become the
leading home-delivery company of diabetes and other medical supplies."
About CCS Medical
Founded in 1994, CCS Medical has become a leading direct-to-consumer
provider of medical supplies to patients suffering from chronic conditions
such as diabetes and chronic obstructive pulmonary disease ("COPD").
Dedication to providing patients the best medical supplies available and
unmatched customer service have earned CCS Medical a reputation for quality
among healthcare professionals and patients. CCS Medical has developed strong
relationships and select co-marketing agreements with many of the world's
leading medical products manufacturers. CCS Medical is headquartered in
Clearwater, Fla. with other major locations in Roanoke, Va., Pittsburg, Pa.
and Santa Anna, Calif. For more information on CCS Medical, please visit
About MP TotalCare
MP TotalCare is one of the nation's leading specialty distributors of
diabetes testing supplies, respiratory medications, urological and ostomy
products and wound care supplies directly to customers throughout the United
States. MP TotalCare also provides pharmacy outsourcing services to third
parties, including retail pharmacies, insurance companies and healthcare
service providers. MP TotalCare is a market leader in each of the product
categories it serves. MP TotalCare's mission is to improve patient outcomes
and quality of life through a comprehensive range of services which include:
delivery of product to customers' homes; disease state education and
counseling; a prescription regimen compliance program; and acceptance of
Medicare and other governmental and third party payor assignment of benefits.
MP TotalCare, founded in 1990, is headquartered in Tampa, Fla. with other
major locations in Columbus, Ohio, Atlanta, Ga. and Denver, Colo. For more
information on MP TotalCare, please visit www.mptotalcare.com.
About Warburg Pincus
Warburg Pincus has been a leading private equity investor since 1971. The
firm currently has approximately $12 billion under management and an
additional $8 billion available for investments in a range of sectors,
including healthcare, information and communication technology, financial
services, energy, industrial, media and business services and real estate.
Warburg Pincus has invested approximately $1.3 billion in 41 Healthcare
Services companies, including Coventry Health Care, Medical Staffing Network,
Spheris, Value Health and United HealthCare, An experienced partner to
entrepreneurs seeking to create and build durable companies with sustainable
value, the firm has offices in North America, Europe and Asia and an active
portfolio of more than 100 companies. For more information please visit
SOURCE Warburg Pincus