Capital Infusion to Propel Company’s Digital Leadership in Point of
Care
MONTVALE, N.J.–(BUSINESS WIRE)–Health
Monitor Network (“HM” or the “Company”), the leading
direct-to-patient (DTP) / patient engagement company in the United
States, today announced that it has received a significant growth
capital investment, led by private equity firm WestView Capital Partners.
For over 35 years, HM has been the leader in delivering innovative and
effective patient education and engagement products that foster dialogue
between patients and their healthcare professionals. The Company has a
network of over 400,000 healthcare professionals (HCPs) across 200,000
physician offices nationwide, providing award-winning content to tens of
millions of patients. The Company’s product line has expanded from
unique condition specific guides and other print publications to one of
the fastest growing digital point-of-care (POC) businesses in the
industry.
Health Monitor achieved record performance in 2018 and remains poised
for unprecedented growth. The Company has added dozens of new customers
and has seen robust growth in its digital business. Physicians and
health systems around the country are seeing value in HM’s best-of-breed
content and products. New 3D tools, charts and diagrams have become an
essential part of healthcare professional practices in its network.
Innovative technologies that will help further transform physician
offices and healthcare systems are in development.
“I couldn’t be more excited about our future. Health Monitor Network has
experienced significant growth over the past several years and I believe
this is just the beginning,” said HM CEO Ken Freirich. “I am thrilled to
partner with WestView Capital, a top performing and well-regarded growth
equity firm with deep experience in healthcare including pharma
services. Their capital, resources and stellar track record will help
take our organization to the next level. For the first time, we’ll have
the arsenal to strategically scale the business and the rocket fuel for
explosive growth. Rick and team are fantastic partners.”
“Ken Freirich and his team are the exact type of entrepreneurs we look
to partner with. They have built Health Monitor into a POC leader and
have the vision to maintain that leadership in this strategically
important category moving forward,” said Rick Williams, Managing Partner
at WestView. “In the point-of-care space, Health Monitor has an
unmatched focus, reputation and track-record of consistent growth. We
see a very significant opportunity ahead in this marketplace,” added
Jeff Clark, Vice President at WestView.
Freirich added, “there continues to be tremendous interest and
investment in the point-of-care channel. Both pharmaceutical advertisers
and private equity / strategic investors recognize the value of being
able to effectively and efficiently reach patients in healthcare
professional waiting and exam rooms. Health Monitor Network is well
positioned to capitalize on the exceptional growth in this channel.”
Health Monitor was represented by Covington & Associates, C7 Advisors,
and WilmerHale, while WestView was represented by Latham & Watkins.
Senior debt financing was provided by BBVA Compass, Stellus Capital
Management and Evolution Credit Partners.
Health Monitor Network is the leading direct-to-patient (DTP) company in
the United States. It has provided high-quality patient education
through digital, print, and mobile platforms to over tens of millions of
condition sufferers through 200,000+ medical offices and more than
400,000 healthcare professionals over its 35-year history. For more
information, please visit www.healthmonitornetwork.com
About
WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused
exclusively on middle market growth companies, manages approximately
$1.7 billion in capital across four funds. WestView partners with
existing management teams to sponsor minority and majority
recapitalizations, growth and consolidation transactions in industries
such as healthcare technology and outsourcing, business services,
software and IT services, consumer, and growth industrial. For more
information, please visit www.wvcapital.com
Contacts
For more information, interviews, or images:
Rodnell
Workman, 201-649-9697, [email protected]
