Chicago, IL – January 5, 2006
Flexpoint Partners, LLC (Flexpoint) announced today that its newly formed affiliate has acquired the assets of Midatlantic Home Infusion, Inc. (Midatlantic) in Fairfield, NJ. Donald A. Carlberg has joined the new Company, American Infusion Holdings, LLC, as Chief Executive Officer. Mr. Carlberg recently served as Senior Vice President, Infusion Services for Apria Healthcare and previously was Senior Vice President of Sales and Marketing for OptionCare. The Company will do business under the Midatlantic name.
Midatlantic is a leading provider of home infusion pharmacy services offering a full range of intravenous and other specialty therapies to patients in New Jersey and the New York metropolitan area. The Company has particular expertise in treating complex patients requiring inotropic/cardiac therapies, intravenous immunoglobulin (IVIG), total parenteral nutrition and intravenous pain management. Midatlantic has been accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO) for over ten years. Midatlantic was founded by Harvey Sussman, who will continue working with the Company under a consulting agreement.
“Midatlantic is a high quality company and Don Carlberg is an outstanding executive,” said Flexpoint Principal Ethan A. Budin. “We are tremendously excited about bringing them together. Consistent with our investment strategy, we identified home infusion as an attractive area for investment almost a year ago and have been working on finding the right situation ever since. We believe we found it.”
“I am thrilled about this opportunity,” said Mr. Carlberg. “Midatlantic has established an impressive record of patient service and clinical excellence. With Flexpoint’s experience working with growing healthcare companies and willingness to invest additional capital, I believe we can take Midatlantic’s already strong base and make it even stronger.” The Company plans to expand through a combination of selective acquisitions and de novo center openings.
According to Mr. Sussman, ensuring continued quality of care at Midatlantic was a central concern in selecting a buyer for his company: “I decided to sell to Flexpoint because I believed that Don Carlberg was the right person to take over for me. As a bonus, I found that Flexpoint completed their work quickly, efficiently and with minimal disruption to our business.” Paragon Ventures represented Midatlantic in the sale.
Flexpoint’s Principals have previously invested in a variety of healthcare businesses, including CuraScript, a leading specialty pharmacy. Mr. Budin currently sits on the board of Ovation Pharmaceuticals.
American Infusion Holdings, LLC provides home infusion pharmacy services offering a full range of intravenous and other specialty therapies to patients in New Jersey and the New York metropolitan area. American Infusion operates under the name Midatlantic Home Infusion. For more information, visit www.americaninfusion.com.