Ridgemont Equity Partners
HemaSource Acquires Source Products
September 19, 2018
Accelerates Expansion in the Dialysis Market
West Jordan, Utah (September 19, 2018) – HemaSource (or the “Company”), a leading provider of consumable products to specialty ambulatory clinics, is pleased to announce the acquisition of Source Products, Ltd. (“Source Products”). Based in Youngstown, OH, Source Products is a national distributor of medical products and equipment to dialysis centers, long term care facilities, oncology centers, hospitals and physician offices. The acquisition enhances HemaSource’s focus in the dialysis market and allows for further adoption of the Company’s cloud-based inventory management software and data analytics capabilities. HemaSource is a portfolio company of Ridgemont Equity Partners, a middle market private equity investor. Financial terms of the transaction were not disclosed.
“Source Products has a longstanding reputation of highly personalized customer service and we are very excited to welcome Source Products to our team. The combined organization will enable customers to drive increased operational efficiencies and cost savings, including a reduction of administrative labor hours, reduced inventory needs and ultimately improved utilization of medical products,” said Tom Jordan, President and CEO of HemaSource.
“Together, HemaSource and Source Products can provide more value to a broader set of customers,” said Bryan Potthoff, Senior VP of New Market Development. “We will continue to develop our proprietary software offering and expand our product portfolio through new partnerships with leading manufacturers.”
HemaSource Intermediate Holdings, LLC (“HemaSource,” or the “Company”), is the leading technology-enabled distributor of medical products to the plasma collection industry. The Company is headquartered in West Jordan, Utah, and distributes consumable products across 1,300 SKUs from two strategically located distribution centers. HemaSource utilizes a proprietary cloud-based inventory management and business intelligence software solution to help its customers gain supply chain efficiencies and decrease their plasma collection costs. Plasma-derived therapeutics like IVIG, Albumin and Factor VIII treat immunodeficiency diseases, neurological disorders and hematology conditions.
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65B of committed capital.