DETROIT, Dec. 7 /PRNewswire/ -- Huron Capital Partners LLC, a Michigan- based private equity firm, announced today that it has launched a healthcare industry initiative to search for and acquire a platform company serving the medical device or healthcare services markets. The industry initiative will be led by Mr. Mark S. Smith, a healthcare industry veteran with over 15 years experience in acquiring and operating a variety of medical products and healthcare services companies. The initiative follows Huron's successful investment in Prism Enterprises, L.P. ("Prism"), a manufacturer of obstetrical and gynecological medical devices where Mr. Smith served as Chief Executive Officer. Mr. Smith and Huron sold their interests in Prism to CooperSurgical, a subsidiary of The Cooper Companies, Inc. in 2003.
Michael R. Beauregard, a Partner at Huron Capital, stated, "Mark Smith is a top tier business executive with exceptional leadership skills and a proven track record in driving organic and acquired growth initiatives in a variety of markets. We believe Mark can build middle-market organizations into successful market leaders in a host of industries and we look forward to backing his efforts once again."
Huron's search efforts will be focused on identifying and acquiring companies focused on manufacturing, marketing and servicing Class I & Class II medical devices and products in addition to healthcare service companies providing outsourced data processing and equipment handling services. Investment candidates will be focused on serving niche markets where intellectual properties provide for unique growth opportunities. The initiative will target recapitalizations and business sales where management teams need to be supplemented due to a change of control and exiting owner- operators. The initiative will also focus on corporate spin-offs of non-core divisions or product lines.
Prior to serving as CEO of Prism, Mr. Smith held senior leadership positions at National Account Service Company (NASCO), a national 3rd-party administrator of health claims for Blue Cross/Blue Shield Plans, and Norrell Health Care, a national provider of business services to healthcare markets. Mr. Smith is a graduate of Texas A&M University (B.A.) and The University of Houston (M.B.A.).
About Huron Capital Partners LLC
Huron Capital is one of the leading private equity firms investing in lower middle-market companies. The firm typically invests between $5 million and $20 million in equity to sponsor management buyouts, recapitalizations, and corporate spin-offs of well-positioned companies having revenues between $20 million and $200 million. Through its operational approach, Huron's strategy is to partner with strong management teams at niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth. Since 2000, Huron Capital has acquired 12 companies and has generated top quartile returns for its investors. Please visit Huron's website at http://www.huroncapital.com/ .
Huron Capital Partners LLCCONTACT: Michael R. Beauregard, Partner, +1-313-496-1055,mbeauregard@huroncapital.com , or Mark S. Smith, +1-210-256-3104,mssmith@pristech.com , both of Huron Capital Partners LLC
Web site: http://www.huroncapital.com/