CHICAGO, IL, November 15, 2016 — Sheridan Capital Partners (“Sheridan”) announced today the sale of Denver, CO-based Progenicare, LLC (“Progenicare” or the “Company") to ISTO Group, Inc., a portfolio company of Thompson Street Capital Partners. Progenicare is a leading provider of autologous stem cell therapies and blood management services to orthopedic surgeons and hospitals across the United States. The Company’s comprehensive suite of biologic products is offered to healthcare service providers, predominantly in an operating room setting.
“It has been a pleasure working alongside Chris Farnand, Tom Arnzen and the entire Progenicare team,” said Jonathan Lewis, Managing Partner at Sheridan. “The exit ensures a positive outcome for the Company’s customers, its management team, and its shareholders.”
“Sheridan was instrumental in Progenicare’s development across multiple territories since its investment. Jonathan and the Sheridan team have been incredibly supportive and flexible resources, and, with this transaction, Progenicare is poised for a new stage in its growth,” said Chris Farnand, Chief Executive Officer at Progenicare. “We look forward to continuing to provide top-notch service to all of our customers as a part of ISTO.”
The deal was led by Lewis, Michael Allietta, Sean Dempsey, and Beau Brace. Terms of the transaction were not disclosed.
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