Cressey & Company LP and Health Enterprise Partners (HEP) announced on January 5 that funds affiliated with the two private equity firms have acquired The InterMed Group, a provider of healthcare technology management services, from Granite Bridge Partners.
Harris Williams LLC served as financial advisor to InterMed. Terms of the deal were not disclosed.
The partnership with Cressey and HEP will expand InterMed’s ability to help hospitals and healthcare systems manage inventories of complex medical equipment efficiently and cost effectively.
The InterMed Group provides end-to-end healthcare technology and equipment management services to hospitals and health systems across the U.S., with a focus on biomedical and imaging equipment.
Based in Chicago and Nashville, Cressey & Company is focused on investing in leading healthcare services and information technology businesses.
HEP is a healthcare-focused investment firm whose investors include some of the largest health systems and health insurance plans in the U.S. The company invests primarily in privately held, lower-middle-market healthcare services and information technology companies.
The transaction marks the first acquisition of a medical practice management service (MPMS) provider of 2023. There were 48 MPMS transactions announced in 2022.
