Hyde Park Capital Announces Sale Of MedFleet To PatientCare
Tampa, Florida - February 12, 2020 - Hyde Park Capital Advisors, LLC (“Hyde Park Capital”) is pleased to announce the sale of MedFleet, Inc. (“MedFleet”), a leading provider of advanced life support, basic life support and stretcher transportation services, to Paramedics Logistics Holding Company, LLC d/b/a PatientCare Logistics Solutions (“PatientCare”). Hyde Park Capital served as the exclusive investment banker to MedFleet for this transaction.
“This is the right partner at the right time for our family to hand off a company that we have put our heart and soul into creating,” said Andrew Williams, COO of MedFleet. “MedFleet has built an outstanding reputation spanning four decades as a caring employer, a high quality and reliable care partner to hospitals and the healthcare community, and an abundantly competent provider of clinical care to the residents of the communities it serves. It is with the highest confidence that I can say that our customers and patients are in very good hands under the leadership of PatientCare.”
John McDonald, Senior Managing Director of Hyde Park Capital, added “We are pleased with the outcome of our process and are glad that MedFleet will continue to operate under its well-known brand with the same team of employees. The strategic alignment with PatientCare’s expanding footprint in the Southeast was evident from our earliest conversations and we believe the platform’s resources will be instrumental in MedFleet’s continued growth. We thank the Company and family for entrusting Hyde Park Capital with advising them on this very important sale-of-company transaction.”
“We recognize the valuable role MedFleet plays in the communities it serves and we are excited to partner with a well-established, successful operator in the Western and Central regions of Florida,” said Herman Schwarz,CEO of PatientCare. “An essential component of our acquisition strategy is to partner with family owned ambulance providers like MedFleet where the family wants to stay involved in the business, is looking to expand services to their communities and can serve as a regional foundation for further growth. In addition, this acquisition complements our existing Florida operations and offers us a stronger market position in the interfacility ambulance service in the area which is also a key element of our growth plan.”
Since its inception in 1973, MedFleet has been committed to providing basic life support ambulance service and over the years has expanded services into advanced life support transports in its geographic coverage area of Pasco, Hernando, Pinellas and Polk Counties in Florida. MedFleet has focused largely on interfacility transports, providing a needed service in the Western and Central regions of Florida. MedFleet is based in New Port Richey, Florida and has multiple contracts with the area’s hospitals, nursing homes and other healthcare facilities. For more information, please visit www.medfleet.com.
PatientCare Logistics Solutions is a leading provider of ground-based 911 emergency ambulance services and other critical healthcare logistics solutions. The company operates growing partnerships with representative customers in Florida, Texas, Indiana, South Dakota, Mississippi and New York. PatientCare is responsible for transporting more than 350,000 patients annually and is committed to providing compassionate quality care and service built around the needs of the patients and communities in which it serves. For more information, please visit www.patientcarelogistics.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused investment banking firm specializing in mergers and acquisitions and serving the corporate finance needs of middle market public and private companies. Its principals have extensive investment banking experience executing merger and acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine and senior debt. Hyde Park Capital is headquartered in Tampa, Florida and is a member of FINRA and SIPC. For additional information, please visit www.hydeparkcapital.com.