HealthEdge Completes Acquisition of The Corridor Group
Tampa, FL – December 31, 2012 – HealthEdge Investment Fund II, L.P. (“Fund II”) announced today that it has acquired a majority interest in The Corridor Group (“TCG”), its second portfolio company in Fund II.
Headquartered in Overland Park, Kansas and founded in 1989, TCG provides consulting, compliance services, executive search, and education tools to the home care and hospice industries. The Company’s consulting services include regulatory compliance, strategic positioning, executive search, interim management, leadership development, products, and web-based education courses. Since inception, TCG has provided businesses advice through a virtual delivery model to more than 10,000 clients — ranging from large health systems and national chains to small, independently owned agencies, and health insurance companies. This model allows the Company to match expertise to client needs, creating sustainable and long term client relationships.
In connection with the transaction, TCG has appointed Jeannee Parker Martin as its Chief Executive Officer. Ms. Martin is an internationally known leader in the development of innovative healthcare programs and has served as the Company’s president since 1995. Active in health service planning, development, and delivery of care for 30 years, Ms. Martin has extensive organizational, operational, financial, and regulatory experience and knowledge in the alternate-site home care delivery industry, with a particular focus on home care and hospice. According to Ms. Martin, “I am very pleased and enthusiastic about beginning this new partnership with HealthEdge. The HealthEdge team brings a wealth of knowledge and relationships to our business, and their support will bolster our position as a leading platform in the post-acute consulting, executive search, and education space.”
HealthEdge Managing Partner Brian Anderson said, “We are thrilled with our investment in The Corridor Group and look forward to continuing our work with Jeannee and the team to grow the business, both organically and through acquisitions of similar offerings. Compliance services is a space we have long targeted for Fund II, and we intend to work closely with TCG’s management team to enhance the Company’s customer capabilities and product space, including using the infrastructure to enhance its consulting, executive search, compliance, and education business lines.”
Former CEO and board member Kathy Dodd will serve as Chair Emeritus on a going-forward basis and, over the next year, assist TCG with business development and transition activities. HealthEdge Operating Partner Guy Bryant has been appointed Chairman of TCG’s Board of Directors. Guy most recently served as Chairman and Chief Executive Officer of Fund I portfolio company Dispensing Solutions, which was sold in 2011 to PSS World Medical (NASDAQ: PSSI).
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience and network of relationships of its partners. HealthEdge’s partners have more than 85 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
About The Corridor Group
TCG, headquartered in Overland Park, Kansas and founded in 1989 is the nation’s leading provider of consulting services, executive recruiting, educational products, and CHEX eLearning to the home care and hospice industry. The Company’s consulting services include regulatory compliance, strategic positioning, executive searches, leadership development, and web-based education courses. Since inception, TCG has provided businesses advice through a virtual delivery model to more than 10,000 clients ranging from large health systems and national chains to small, independently owned agencies. For more information on The Corridor Group, visit www.corridorgroup.com.
For more information, please contact Brian Anderson at HealthEdge Investment Partners at (813) 490-7100.