LongueVue Capital Invests in Prime Health Services
$8.0 Million in Debt Financing to Support Growth of Leading Healthcare Cost Containment Provider
New Orleans (March 20, 2014) - LongueVue Capital (“LVC”), a New Orleans-based private equity firm, announced today it has invested $8.0 million of senior secured debt in Prime Health Services (“Prime Health”), a leading national provider of medical cost containment solutions.
Founded in 2001 and headquartered in Brentwood, Tennessee, Prime Health is a diversified medical cost containment company that offers a full spectrum of services, including a nationwide Preferred Provider Organization (“PPO”) as well as leading medical cost containment solutions. Prime Health’s cost containment services are tailored to the Workers’ Compensation, Auto Liability and Corrections markets. The company’s primary customer base includes insurance companies, third party administrators, and self-insured employers.
“Prime Health has become a leading provider of cost containment solutions in a niche market and is recognized for providing high quality and customized solutions for its customer base,” said John McNamara, Co-founder and Managing Partner of LongueVue Capital. “We are enthused to partner with the company and provide capital in support of the build out of Prime’s capabilities to support the workers’ compensation, auto and corrections markets.”
“We are excited about our partnership with LongueVue Capital and appreciate the opportunity to partner with an experienced institutional investor like LVC,” said Prime Health President and Chief Executive Officer, Brian Sharp. “This financing enables our company to continue to focus on the evolving needs of our customers as we develop a breadth of offerings that will create additional savings within the complex healthcare system.”
About LongueVue Capital:
Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 18-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $500 million of capital spanning three funds coupled with 150 years of combined operating and investing experience, our team is the ideal partner for middle market companies at inflection points and seeking to maximize value.
Our opportunistic investment strategy provides the flexibility to partner with attractive businesses across a variety of industries and situations, and we tailor transaction structures to meet the company and stakeholders’ objectives. While we are selective with our investment strategy, we target growth-oriented companies with scalable, sustainable business models and exceptional leadership teams.
Our proactive, hands-on approach enables us to be thoughtful stewards of our portfolio companies and trusted and dependable strategic partners to all stakeholders. Together with our entrepreneur and management team partners, we help create superior value for our portfolio companies and investors.
To learn more about LongueVue Capital, please visit our website at www.lvcpartners.com.
For inquiries, please contact ccox@lvcpartners.com or call 504.293.3600.