Harbour Point Capital Completes Investment in Midwest Medical Transport

Rhea-AI Summary

Harbour Point Capital (HPC) has completed a new investment in Midwest Medical Transport (MMT), a leading provider of ambulance services. The investment will enhance MMT's capabilities to accelerate growth across existing and new markets. MMT serves over 200,000 patients annually across 10 states, establishing itself as a market leader in inter-facility transportation. Former Agiliti Health president, Kevin Ketzel, joins MMT's board to help drive this expansion. The recapitalization saw prior investors sell their stakes, with undisclosed details on the transaction.

Positive

• HPC's investment is expected to accelerate MMT's growth in new and existing markets.
• MMT serves over 200,000 patients annually in 10 states, indicating strong operational scale.
• Kevin Ketzel's involvement is anticipated to enhance strategic direction.

Negative

• None.

GREENWICH, Conn. & OMAHA, Neb.--(BUSINESS WIRE)-- Harbour Point Capital (“HPC”), a private equity investment firm specializing in the healthcare services field, today announced completion of a new investment in Midwest Medical Transport (“MMT”), a premier provider of ambulance transportation services. HPC and healthcare industry veteran Kevin Ketzel, former president of Agiliti Health (NASDAQ: AGTI), partnered on the transaction.

Panorama Point Partners (“Panorama”) and its equity partners, Dixon Midland Company (“Dixon Midland”) and ORIX Private Equity Solutions (“ORIX”), prior investors in MMT, have sold their interests as part of the recapitalization. Details were not disclosed.

Founded in Columbus, Nebraska, MMT began providing ambulance services in 1987, focusing on inter-facility transportation (“IFT”) within health systems. The company was acquired in 2015 by Panorama, Dixon Midland, and ORIX, and has since established itself as a clear market leader in the industry, customizing its model to currently serve more than 200,000 patients annually for health systems in 10 states across the country. The new investment will allow MMT to accelerate growth in both existing and new geographic locations, continuing its commitment to superior quality, safety and customer service.

“Panorama, Dixon Midland, and ORIX did an excellent job guiding MMT’s growth from a founder-led company to the industry leader we are today,” said Jeff Shullaw, President & CEO of MMT. “We are looking forward to expanding our footprint nationally to create sustainable access to healthcare, as we gain financial, strategic and operational support from Harbour Point Capital and Kevin.”

“MMT’s service model is unique in the IFT space, delivering customized solutions to its health system partners with unparalleled transparency and accountability,” said Robert Juneja, Co-Founder and Partner of Harbour Point Capital. “We believe the Company’s compelling value proposition has positioned it for accelerated growth. We are excited to partner with Kevin, Jeff and the rest of MMT’s management team for this next phase of development.”

“I am looking forward to working with Jeff and his team to expand MMT’s best in class service to customers and patients across the country,” added Mr. Ketzel, who has joined MMT’s board.

“We are proud to have assisted MMT in its growth, becoming the national leader in inter-facility medical transportation,” said Stephen George, Founder and Managing Partner of Panorama. “I have no doubt the MMT management team will reach its new goal, and I wish the company great success.”

About Midwest Medical Transport

Midwest Medical Transport is a premier provider of ambulance transportation services, completing more than 200,000 missions per year. Currently, the company serves hospitals and health care facilities in 10 states. For more information, please visit: www.midwest-med.com

About Harbour Point Capital

Harbour Point Capital is a private equity investment firm that partners with the founders and executives of innovative, high-growth healthcare services companies. Harbour Point Capital invests in companies that deliver value to the healthcare system by improving access and enabling the provision of higher quality care at lower cost. For more information, please visit: www.harbourpointcapital.com

About Panorama Point Partners

Panorama Point Partners, and its successor firm InterAlpen Partners, is a US based, globally minded growth private equity firm with a mission to combine profitability and purpose. It invests in growth stage, category winning companies at the nexus of technology and ESG impact. For more information, please visit: www.panoramapoint.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220125006174/en/

Media Contacts:

For Midwest Medical Transport:

Rick Sheehy

402-469-6193

Rick@mwmtc.com

For Harbour Point Capital:

Anreder & Company

Steven Anreder

212-532-3232

steven.anreder@anreder.com

For Panorama Point Partners:

Stephen George

402-933-1280

Stephen@panoramapoint.com

Source: Harbour Point Capital

FAQ

What recent investment has Harbour Point Capital made in 2023?

Harbour Point Capital has invested in Midwest Medical Transport to support its growth.

How many patients does Midwest Medical Transport serve annually?

Midwest Medical Transport serves over 200,000 patients each year.

Who has joined the board of Midwest Medical Transport after the investment?

Kevin Ketzel, former president of Agiliti Health, has joined MMT's board.

What market does Midwest Medical Transport operate in?

Midwest Medical Transport operates in the ambulance transportation sector across 10 states.

What was the role of Panorama Point Partners in the investment?

Panorama Point Partners, along with its equity partners, sold their interests in MMT as part of the recapitalization.