MINNEAPOLIS (January 11, 2015) — Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce its support of Schryver Medical (“Schryver” or the “Company”) in its add-on acquisitions of Quality Mobile X-Ray Services (“Quality”), On-Site Imaging Solutions (“On-Site”), Main Street Clinical Laboratory (“Main Street”), B.O.N. Clinical Laboratories (“B.O.N.”), Community Portable X-Ray (“Community”), and MetroStat Clinical Laboratory and Diagnostic Services (“MetroStat”).
Schryver, headquartered in Denver, Colorado, is a JCAHO accredited provider of mobile imaging diagnostics, clinical laboratory services, oxygen therapy, and durable medical equipment rental. The Company is a current portfolio company of Yukon and is led by Revelstoke Capital Partners (“Revelstoke”), a Denver based private equity investment firm.
The investment thesis of the Schryver platform is to execute a buy and build strategy to accelerate growth in new geographies, and create a national accredited provider that delivers high-quality and convenient services to its patients while also providing a minimized cost solution to the healthcare system. Schryver now serves over 3,500 long term post-acute facilities, assisted-living centers, and skilled nursing facilities, as well as numerous homecare patients. The following provides an overview of the acquired entities:
January 2015 – Quality is a provider of mobile x-ray and other imaging services. Quality services long term care facilities, correctional facilities, assisted living centers, home health companies, and various public institutions across Middle and Western Tennessee, as well as certain counties in Kentucky, Alabama, Mississippi, and Arkansas.
July 2015 – On‐Site is a provider of mobile x‐ray and other imaging services. It services nursing homes, healthcare facilities, hospice centers, correctional facilities, and home health patients across Arkansas. On-Site offers state of the art mobile x-ray and digital ultrasounds, which permit any type of study including vascular, abdomens, and echocardiograms.
July 2015 – Main Street provides customized laboratory services from its licensed CLIA Moderate Complexity laboratory located near Memphis Tennessee from which it is able to service physicians and healthcare providers across Mississippi, Tennessee, and Arkansas.
July 2015 – B.O.N., provides customized laboratory services from its laboratories in Las Vegas, Nevada, and Burbank, California, which are licensed with CLIA High Complexity certifications. B.O.N. services physicians across California.
December 2015 – Community is a provider of mobile x‐ray and other imaging services based in Plano, Texas, with branch locations in Fort Worth, Houston, and San Antonio. The company services long-term care facilities, home care patients, psychiatric hospitals, industrial sites, dialysis centers and athletic teams across Texas.
December 2015 – MetroStat is a provider of clinical laboratory services, mobile x‐ray, and other mobile imaging services in the state of Texas. MetroStat services facilities across Texas.
“The Schryver management team continues to execute on our strategy of becoming a leading national provider through a disciplined buy and build approach,” commented Simon Bachleda, Co-Founder and Managing Partner of Revelstoke. “Schryver has completed six acquisitions since our initial investment expanding the Company’s reach into 16 states.”
“We are excited to be partnering with Revelstoke and the management team in executing its value-added strategy,” said Michael Hall, Managing Partner of Yukon. “With Revelstoke’s hands-on approach and experience within the healthcare industry alongside the operational expertise and leadership of the senior management team, Schryver will continue its impressive growth in the mobile imaging and laboratory diagnostics market.”
About Schryver Medical
Based in Denver, Colorado, and employing over 1,000 professionals, Schryver is a leading provider of mobile imaging, clinical laboratory, and oxygen therapy equipment outsourcing across sixteen U.S. states serving the long term care market, hospitals, assisted-living centers, and homecare patients. For more information on Schryver, please visit www.schryvermedical.com.
About Yukon Partners
Yukon Partners is an independent and unaffiliated mezzanine firm primarily serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.
About Revelstoke Capital Partners
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies. Revelstoke strives to partner with management teams to execute on a disciplined organic and acquisition strategy to build exceptional companies. Revelstoke’s Managing Partners, Mark King, Dale Meyer and Simon Bachleda, have completed over 100 platform and add-on acquisitions, representing approximately $6 billion of total enterprise value. For more information, please visit www.revelstokecp.com.
For more information, please contact: