SALT LAKE CITY, Feb. 13 /PRNewswire/ -- DW Healthcare Partners (“DWHP”), a healthcare focused private equity firm, announced today the sale of one of its portfolio companies, Genesis Technology Partners (Genesis) to Masterplan, one of the nation’s largest providers of technology services for healthcare organizations. The terms of the transaction were not made public.
Genesis, based in San Dimas, California, is a medical technology management firm focused on partnering with hospitals and integrated health systems to provide them with innovative asset management solutions and objective advice with respect to technology-related issues. DWHP acquired a majority interest in the business in November 2003.
“Genesis is a great example of DWHP’s two-step investment approach and represents an attractive return to DWHP investors,” said Andrew Carragher, a Founding Partner of DWHP and member of the Board of Directors. “DWHP and Genesis partnered together to execute strong growth initiatives and positioned the company for a greater final exit. We are all pleased with the end result of this transaction.”
“We are very excited about the combination of the two companies,” said Bruce Cree, CEO and Chairman of Masterplan. “The addition of Genesis will benefit the customers of both companies by allowing Masterplan to offer a wide range of maintenance and information services unparalleled in our industry. Masterplan is now the country’s largest independent service provider focused solely on delivering high quality, cost-effective equipment maintenance service to the healthcare industry.”
“The management and employees at Genesis are equally excited about the future success of the combined company going forward,” stated Sandy Morford, former President & CEO of Genesis Technology Partners. “By bringing together the best practices of each company, the result will be the formation of an even stronger service organization, both financially and operationally, that has never before existed in the healthcare marketplace.”
About DW Healthcare Partners
DW Healthcare Partners (“DWHP”) is a private equity firm focused exclusively on the healthcare industry. The firm is led by three seasoned healthcare executives with more than 80 years of combined industry experience. DWHP invests in profitable healthcare companies with proven management teams. For more information, please visit www.dwhp.com.
About Genesis Technology Partners
Genesis Technology Partners is a medical technology management firm focused on partnering with hospitals and integrated health systems to provide them with innovative asset management solutions and objective advice with respect to technology-related issues. More information about Genesis can be found at www.genesispartners.net.
About Masterplan
Masterplan’s network of over 500 technicians nationwide provide healthcare facilities with quality service on sophisticated medical devices such as CT and MRI. Masterplan’s innovative maintenance programs are designed to keep up with the financial, technical and regulatory needs of today’s healthcare providers. For more information, please visit www.masterplan-inc.com
DW Healthcare Partners
CONTACT: Lance Ruud of DW Healthcare Partners, +1-801-365-4004
