Krueger-Gilbert Health Physics Announces Expansion
Blue Sea Capital Announces Affiliation With Leading Medical Physics Organization
TOWSON, Md., May 3, 2019 /PRNewswire/ -- Krueger-Gilbert Health Physics, LLC ("KGHP" or the "Company") is taking on a well-respected financial partner in Blue Sea Capital LLC ("Blue Sea"), which is providing growth capital for KGHP and Apex Physics Partners ("Apex"), a newly formed business services support organization created to facilitate continued growth of KGHP in its existing markets and to complete future partnerships with leading, like-minded medical physics practices in new geographies.
Founded in 1987 and headquartered in Towson, Maryland, Krueger-Gilbert Health Physics is a market-leading, full-service, comprehensive diagnostic medical and health physics consulting group. KGHP's client-focused team of physicists provides critical compliance services to some of the most progressive hospitals, imaging networks, private practices and research facilities nationwide.
"The formation of Apex Physics Partners opens opportunities in new geographic markets through partnerships with top-quality medical physics practices and individual medical physicists in their local markets," said Michael Curry, CEO of Apex Physics Partners. "Blue Sea Capital brings significant resources, a collaborative approach with management and expertise scaling the business services required by multi-state physics practices that will help Apex Physics Partners support the rapid expansion of our organization."
According to Keith Burns, President of Apex Physics Partners, "Apex will provide business services through the Apex Physics Support Group including client services, accounting/finance, sales, marketing, human resources, recruiting, information technology, data analytics, vendor management, purchasing, legal and insurance – all in support of medical physicists."
KGHP will continue to operate in the Mid-Atlantic region serving existing and new clients, with all existing team members maintaining their current roles. New medical physics partner practices will be marketed and positioned in their local geographies emphasizing the strengths that contributed to success to-date. In addition, the partnering medical physics practices will be positioned as Apex Physics Partners affiliates. "There are substantial differences between state regulations, and our medical physicists must be experts in the regulations and local client requirements. That's why we are big believers in the local geography model," said Michele Loscocco, MS, DABR, KGHP Director of Technical Operations.
J.R. Davis, Managing Partner at Blue Sea Capital, commented: "We are energized to partner with Mike, Keith and the talented physicists at Krueger-Gilbert Health Physics, as a leading diagnostic medical physics provider, to provide growth capital and resources in building a top-quality national platform in Apex Physics Partners. The organization's relentless commitment to client-service - manifested in growth, market share gains and a strong reputation with clients - resonated with us from day one. We look forward to building on this culture of excellence to support future growth in the Mid-Atlantic region and in other regions through partnering with other like-minded physicists committed to world-class client-service."
Scott Ames, Vice President at Blue Sea Capital, added, "We seek differentiated, best-in-class companies with a strong value proposition to employees and customers. The team at Krueger-Gilbert Health Physics embodies these qualities. We are thrilled to be partnering with the company and look forward to extending this physicist- and client-centric culture to other regions through mutually beneficial partnerships that advance the vision and ideals of this special organization to deliver these critical services to valued clients across the U.S."
Piper Jaffray acted as financial advisor to KGHP. Goodwin Procter LLP acted as legal counsel to KGHP. McDermott Will & Emery acted as legal counsel to Blue Sea.
About Krueger-Gilbert Health Physics
Founded in 1987 and headquartered in Towson, Maryland, Krueger-Gilbert Health Physics (www.kruegergilbert.com) is a market-leading, full-service, comprehensive diagnostic medical and health physics consulting group. KGHP's client-focused team of physicists provides critical compliance services to some of the most progressive hospitals, imaging networks, private practices and research facilities nationwide.
About Apex Physics Partners
Apex Physics Partners (www.apexphysicspartners.com) is a medical physics business services support organization. Through the Apex Physics Support Group, partner medical physics practices receive an array of support services including client services, accounting/finance, sales, marketing, human resources, recruiting, information technology, data analytics, vendor management, purchasing, legal and insurance.
About Blue Sea Capital
Blue Sea Capital (www.blueseacapital.com) is a private equity firm based in West Palm Beach, Florida, that invests in growth-oriented lower middle market companies valued up to $200 million. The firm has over $450 million in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital's strategy is to partner with talented managers and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation.
Media Contact:
Michael Curry, CEO
Telephone: (410) 339-5447
[email protected]
SOURCE Krueger-Gilbert Health Physics, LLC
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