On May 11, Clearview Capital Fund IV, L.P. and its affiliates announced the acquisitions of two Colorado-based occupational healthcare providers, WorkWell Occupational Medicine, LLC and HealthQuest Medical Inc. & Conspire!, by MBI Industrial Medicine, Inc.
According to the LevinPro HC database, the acquisitions of WorkWell and HealthQuest mark the fifth and sixth transactions announced within the occupational health subsector during 2022, and the second and third private equity transaction within the space, respectively. Another PE buyer making moves into occupational health is Chicago-based Seven Hills Capital, which backed Associates in Pediatric Therapy’s purchase of Jones Therapy Services on January 13, 2022. Additionally, the acquisitions of WorkWell & HealthQuest mark BMI’s first two acquisitions, just eight and sixteen months, respectively, following Clearview’s investment in the company.
MBI is a leading provider of occupational injury care services in the Southwestern U.S. with 10 clinics in Arizona, and now an additional eight clinics in Colorado through the acquisitions of WorkWell and HealthQuest. MBI was acquired by private equity firm Clearview Capital LLC in December 2020 and is now a platform investment in Clearview Capital Fund IV, a $550 million committed fund raised in 2018.
Founded in 1997, Workwell Occupational Medicine, LLC is a specialized medical provider that operates seven clinics across Colorado, spanning from Fort Collins to Englewood. It treats work-related injuries and provides occupational health services for the employment-related needs of businesses in northern Colorado and the Denver metro area.
Founded in 1997, HealthQuest Medical, Inc. is a specialized medical provider that operates a clinic in Colorado Springs, Colorado. HealthQuest has teamed up with Conspire! to provide a full suite of drug, alcohol and background checking services to its customers.
