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National Healing Announces Majority Investment
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November 3, 2008Metalmark Capital BOCA RATON – November 3, 2008 – National Healing Corporation, a leading provider of wound and disease management solutions for hospitals and wound treatment centers, today announced a majority investment by Metalmark Capital, a New York-based private equity firm. National Healing, a privately-held company, accounts for 30 percent of all managed and outsourced wound centers in the United States. Following close, Metalmark will represent a majority of the board, and Scale Venture Partners, an investor in National Healing since 2005, retains an interest in the Company. James Patrick will continue as CEO, and Mark Brooks, Managing Director of Scale Venture Partners, will continue as Chairman of National Healing. "National Healing has been a pioneer in developing successful outpatient wound programs that achieve exceptional healing rates," said James Patrick, CEO of National Healing Corporation. "The next frontier is research in which we can employ our database of thousands of healed patients to study the effectiveness of new therapies. As shareholders of National Healing Corporation, Metalmark Capital and Scale Venture Partners will assist us in creating the pre-eminent wound management company in the country." "National Healing has developed an attractive business model and an exceptional record for clinical excellence and customer service during its 12-year history," said Howard Hoffen, Chairman and CEO of Metalmark Capital. "We look forward to working with Jim Patrick, Jim Tyler, and their talented team to support the company’s efforts to provide exceptional clinical results through the utilization of an outcome-based, systematic approach to the treatment of chronic wounds." "National Healing has effectively demonstrated the success of its approach to high-quality wound care management in hospitals and centers across the country," said Mark Brooks, Managing Director of Scale Venture Partners. "Our continued involvement in the company reflects our belief that Jim and his team can take the company’s model and scale it even more aggressively over the next several years." Broadpoint Capital and Akerman, Senterfitt & Eidson served as financial and legal advisors to National Healing Corporation. UBS and Ropes & Gray served as financial and legal advisors to Metalmark Capital. CapitalSource, as the existing lender to the Company, provided debt financing in support of the transaction. About National Healing Corporation About Metalmark Capital About Scale Venture Partners
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