CHICAGO, IL – Sheridan Capital Partners (“Sheridan”), a Chicago-based lower middle-market private equity firm, announced today the addition of Progenicare to its portfolio through the completion of a leveraged buyout.
Progenicare, headquartered in Austin, TX, is a leading provider of autologous stem cell therapies to orthopedic surgeons and hospitals across the Western U.S. Progenicare’s extensive staff of highly trained clinicians allows Progenicare to provide responsive services to its technology partners and customers alike.
“Progenicare has an exceptional track record of growth due to the company’s clinical excellence and data-driven and solutions approach towards sales. The Company’s services consistently deliver superior patient outcomes, and the team has developed an unwavering focus on customer service at every level of the organization,” said Jonathan Lewis, Partner of Sheridan Capital Partners. “We are excited to partner with Jesse Sandstad, Dr. Brooklyn Robertson, and the entire management team to support the company’s ongoing success and accelerate its expansion initiatives.”
Jesse Sandstad, Chief Executive Officer of Progenicare, said, “Sheridan Capital Partners represents a great strategic partner for us. Their operational focus and resources will help us leverage our continued growth while maintaining our focus on partnership and service to key stakeholders.” Dr. Brooklyn Robertson, Chief Science Officer also added, “Sheridan’s unique ability to quickly understand our value proposition in a highly complex and rapidly evolving stem cell market made them the perfect partner. They not only grasped why our approach was different; they were able to articulate new ideas and outline the key drivers for our next phase of growth.”
Also included in the recapitalization was the purchase of Advanced Transfusion Services, Inc. of Spokane, WA, a company providing autologous stem cell therapies and blood management services in the Northwest. ATS will be rolled into Progenicare and serve as its blood management division. “We believe ATS will complement and expand Progenicare’s core capabilities and provide a one-stop, outsourced solution to hospitals while creating significant cost savings,” said Mike Allietta, Partner.
The transaction was led by Lewis, Allietta, and David Jacob of Sheridan Capital Partners.
About Sheridan Capital Partners
Sheridan Capital Partners, headquartered in Chicago, Illinois, focuses on making private equity investments in leveraged buyouts, recapitalizations and large minority financings of growing lower middle market growth companies with enterprise values between $20 million and $150 million within the healthcare and consumer sectors.
Jonathan Lewis, Partner