GLEN ALLEN, Va., April 13, 2021 /PRNewswire/ -- Home Care Delivered, Inc. ("HCD"), a highly regarded provider of reimbursable medical supplies, announced today that it has received a majority equity investment from BPOC, a leading Chicago-based private equity firm focused exclusively on the health care industry. The transaction is effective immediately and financial terms were not disclosed.
"The HCD journey started with caring for chronically-ill family members in our home and realizing the stress and uncertainty that comes with it," stated Gordy Fox, Founder & CEO of HCD. "That experience led to founding HCD in 1996, based on a business philosophy of treating customers and caregivers like you would family." Fox continued, "There's a strong outlook for delivering quality healthcare in the home, and BPOC shares our vision of delivering HCD-quality service on a much larger scale with our customer-first, employee-centric culture."
"HCD has always taken extreme pride in delivering best-in-class service to our customers, and over the years that pride fueled the creation of a remarkable technical and operational foundation to build on," said Dan Monahan, President and COO of HCD. "This is the perfect time to invest in our growth by expanding our customer reach with products and services HCD can provide better than anyone else. We're excited about our new relationship with BPOC, not only through their investment, but also their far-reaching industry expertise and their desire to help HCD build upon its proven client service model."
"There's no question the U.S. healthcare trends will continue to shift toward more care at home, so finding platforms designed specifically to deliver superior services for this segment is critical," commented Troy Phillips, Partner at BPOC. "In our search for the right medical supply provider, it became clear that HCD's unique blend of people, culture, and technology would be an ideal foundation to address this growing market. We look forward to partnering with the HCD team and supporting the company's growth strategies and long-term vision," he concluded.
HCD was represented in the transaction by the law firm of Williams Mullen.
North Point Advisors served as exclusive financial advisor to HCD in connection with the transaction.
Paul Hastings LLP served as legal advisor to BPOC. Lincoln International served as financial advisor to BPOC in connection with the transaction.
About Home Care Delivered (HCD)
Home Care Delivered is a leading direct-to-patient provider of insurance covered medical supplies for diabetes, incontinence, urology, ostomy and wound care products delivered directly to the patient's home. Founded in 1996 and headquartered in Glen Allen, Virginia, Home Care Delivered is dedicated to providing best-in-class customer support and quality supplies for patients and caregivers nationwide. www.hcd.com
Founded in 1996, BPOC is a Chicago-based private equity firm that invests exclusively in healthcare companies and is one of the nation's most experienced investors in the industry having raised five funds with total capital commitments of nearly $1.8 billion. BPOC has invested in numerous provider, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations. www.bpoc.com