CRG Provides $65 Million Commitment, Positioning HNI Healthcare for Transformation
NEW YORK, NOVEMBER 2, 2018 /PRNewswire/ — CRG, a premier healthcare-focused investment firm, today announced a $65 million commitment to HNI Healthcare (“HNI”), a technology-enabled physician practice management company focused on the delivery of full-service facility-based physician programs. HNI recently completed the acquisition of Martin Healthcare Group (“MHG”), a 40-year-old privately held company dedicated to the delivery of inpatient care and staffing solutions to acute and post-acute care hospitals across the Midwest and Florida.
“As the country’s healthcare system continues its shift towards value-based care models, hospitals are being asked to deliver better outcomes at a lower cost,” said Scott Li, Managing Director at CRG. “HNI’s technology-enabled care strategies drive superior results for hospitals and their patients. Using comprehensive management practices and data-rich work flow tools that guide decision making, HNI helps physicians meet and exceed the most critical indicators of hospital quality and financial performance. We are excited to partner with a Company and management team that is committed to helping hospitals deliver excellence in a challenging and uncertain time.”
Mike Gonzales, HNI’s Founder and Chief Executive Officer commented, “As a healthcare-focused investor, CRG understands the unique aspects of today’s marketplace. They were thoughtful and pragmatic around financing the continued growth of HNI, which gives us the scale we need to make a positive impact on hospitals and health systems on a national level. We are pleased to work with CRG and believe their patient and long-term approach to investing makes them an ideal partner for the next phase in HNI’s growth.”
CRG continues to offer innovative healthcare companies, and leading equity sponsors, a competitive growth capital alternative that is less costly and dilutive than traditional equity financing and more flexible and less restrictive than other forms of capital.