WARRENVILLE, Ill., Aug. 28, 2015 /PRNewswire/ -- Patterson Medical,
formerly the medical business of Patterson Companies, Inc. (Nasdaq:
PDCO), is now an independent company with today's completion of the
previously announced acquisition of Patterson Medical by Madison
Dearborn Partners (MDP).
Patterson Medical will retain its name for a transition period
before rebranding as the world's leading independent distributor of
rehabilitation and sports medicine products. With the focused
resources and expertise of MDP, Patterson Medical is well
positioned to continue to serve its strong and growing market and
capitalize on the numerous growth opportunities before it.
Michael J. Orscheln will continue to
lead Patterson Medical as the newly independent company's chief
executive officer. The current Patterson Medical leadership
team will continue in its role of driving growth and value for the
company and its customers.
"Today marks an exciting beginning for our employees and our
customers," said Michael J.
Orscheln, chief executive officer of Patterson
Medical. "We are now singularly focused on remaining the
leader in our chosen markets. We have the dedicated resources and
expertise to provide our customers superior service and help them
meet the challenges of delivering healthcare in the 21st
century. Today is day one and I'm excited to get to work with
our new partners at MDP and my talented colleagues at the new
Patterson Medical."
Founded in 1995 as Sammons
Preston and later renamed AbilityOne, the company joined
Patterson Companies in 2003. Since its inception, Patterson
Medical has grown to become the leading global specialty
distributor of rehabilitation supplies and equipment to acute care
facilities, outpatient clinics, long-term care facilities and
select dealers. Its U.S. sales force ranks among the
rehabilitation industry's largest, bringing occupational therapists
and physical therapists in hospitals, long-term care facilities and
clinics the most comprehensive range of products, brand names and
services available. These include more than 30,000 top-name
rehabilitation supplies, equipment and assistive living products.
Additionally, Patterson Medical's widely recognized Medco
sports medicine division provides more than 12,000 products to
athletic trainers in professional sports, high school and college
teams and recreational sports organizations.
Patterson Medical's business is global, with offices in
Canada, the United Kingdom, France, Australia and New
Zealand. Patterson Medical also serves rehabilitation
distributors in over 100 countries.
MDP has a long history of successfully investing in health care
across a range of sub-sectors, including health care distributors
such as VWR International, specialty pharmaceuticals and medical
products, hospitals, home and community-based care, skilled nursing
facilities and life sciences. The firm's recent investments
include Ikaria, Kaufman Hall, Option Care and Sage Products.
Over the past 30 years, the principals of MDP have focused on
investing in companies in partnership with outstanding management
teams to achieve significant long-term appreciation in equity
value.
"Mike Orscheln and his team have
re-invigorated growth in recent quarters and we are supportive of
the game plan they have developed to continue this momentum and
achieve sustained success over the long term," said Tim Sullivan, a managing director at MDP.
"We are excited to partner with the Patterson Medical team as
it embarks on this exciting new phase."
About Patterson Medical
Patterson Medical is the
world's leading distributor of rehabilitation, sports medicine and
assistive patient products to the physical and occupational therapy
markets. This customer base includes hospitals, long-term
care facilities, clinics and dealers. Visit
www.pattersonmedical.com.
About Madison Dearborn Partners
Madison Dearborn
Partners (MDP), based in Chicago,
is a leading private equity investment firm in the United States. Since MDP's formation
in 1992, the firm has raised six funds with aggregate capital of
over $18 billion and has completed
approximately 130 investments. MDP invests in businesses
across a broad spectrum of industries, including health care; basic
industries; business and government services; consumer; financial
and transaction services; and telecom, media and technology
services. Notable health care investments include Option
Care, Sage Products, Kaufman Hall, Sirona Dental, Team Health, and
VWR International. For more information, please visit
www.mdcp.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/patterson-medical-positioned-for-continued-growth-as-a-newly-independent-company-300134713.html
SOURCE Madison Dearborn Partners; Patterson Medical