Navigation Links
Riverside Partners Teams with Management to Acquire Innovative Product Achievements
Date:5/28/2008

BOSTON, May 28 /PRNewswire/ -- Riverside Partners, based in Boston, MA, is pleased to announce that it has partnered with management to acquire Innovative Product Achievements ("IPA" or the "Company").

IPA designs and manufactures automated surgical scrub and linen distribution systems sold into leading hospitals and ambulatory surgery centers. The Company is widely viewed as the market leader. Its products are specifically designed to save hospitals money on scrub and linen by reducing losses, decreasing misuse, and minimizing inventories. IPA's platform products include scrubEx, the industry standard for eliminating scrub inventory management issues, and alEx, the industry's first automated solution designed to address linen management issues in hospitals. The Company's products are installed in over 300 leading hospitals throughout North America, including Duke University Medical Center, Johns Hopkins Hospital, Cedars-Sinai Medical Center, and Barnes-Jewish Hospital. IPA is headquartered in Duluth, Georgia.

"IPA's position as the industry leader in scrub and linen automation equipment, its talented management team, and its innovative products backed by deep intellectual property make it a perfect match for Riverside Partners. Bob Stonikas, Dan Weyen, and Ward Broom have positioned the Company for significant future growth," said David Belluck, General Partner at Riverside.

"IPA's scrubEx and alEx platforms offer hospitals a compelling value proposition and return on investment, dramatically reducing the pain of scrub and linen management typically experienced by hospital administrators. We are excited about helping IPA continue to grow and expand its market penetration," said Philip Borden, Principal at Riverside.

"The management team at IPA is extremely excited about our partnership with Riverside Partners. Riverside's focus on founder-owned companies and its creative investment approach made it the perfect partner for IPA. We believe that Riverside's deep experience in the healthcare industry will be a catalyst for accelerating the growth of the Company," said Bob Stonikas, President of IPA.

About Innovative Product Achievements

Founded in 1995, IPA has developed the industry's most complete linen automation platform to address the problems associated with surgical scrubs and linen usage in hospitals. IPA has become the industry leader for surgical scrub and linen automation equipment and currently has over 1,500 units installed with over 300 hospitals and other healthcare facilities. Since it first began selling healthcare linen automation products in 1995, the Company estimates it has saved its customers close to fifty million dollars.

About Riverside Partners

Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund III, L.P. The fund focuses on growth- oriented companies in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. We are currently focused on companies with revenues between $20 - $200 million and with $5 - $25 million of EBITDA.


'/>"/>
SOURCE Riverside Partners
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. New Medicare Equipment Bidding Program for Riverside, California Area is Rife with Errors, Says the American Association for Homecare
2. Berkery Noyes Represented The Riverside Company on the Sale of HCPro Holdings, Inc. to Halyard Capital, LLC
3. Susan G. Komen for the Cure, U.S. Congressman Pat Tiberi, Ohio Senator Tom Niehaus, and OhioHealth Riverside Breast Health Center Call for Action on Breast Cancer
4. Cogdell Spencer Announces a $100 Million Development at St. Lukes Riverside Outpatient Campus In Bethlehem, Pennsylvania
5. Riverside Partners Teams with Management to Acquire GEMCITY Engineering & Manufacturing
6. Riverside First to Offer New Treatment for Peripheral Arterial Disease
7. GenoLogics Releases BioVault Biospecimen Management Software in Partnership With GenVault Corporation
8. Collaborative Drug Discovery and Myelin Repair Foundation Announce Partnership
9. IPLogic Awarded With NetApp Authorized Professional Service Partners Distinction
10. North Castle Partners Names Dennis Lee of Octane Fitness CEO of the Year
11. Equine Partners in Counseling (EPIC) Training Is Changing the Face of Mental Health
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/28/2016)... ... May 28, 2016 , ... SuperCloset is proud to officially launch our ... to day issues, struggles and obstacles veterans’ need to overcome in order to face ... active or retired military veteran(s) with a donated SuperCloset product based on the needs ...
(Date:5/28/2016)... ... ... After a year and a half of planning the Multiple Pathways of Recovery Conference ... of Recovery Conference was held May 2 -4, 2016 at the Mystic Marriott Hotel ... to explore the many pathways individuals use to get into and sustain their recovery. ...
(Date:5/27/2016)... ... ... Southland Log Homes , designer and manufacturer of America’s Favorite Log ... be found on its website at SouthlandLogHomes.com. , The designs of the wood ... craftsmanship of timber post and beam construction. The result is a barn that ...
(Date:5/27/2016)... ... May 27, 2016 , ... An influential resource amongst nurses and ... to shed lights on the variety of topics detailing why we appreciate nurses in ... why this career has gone from being in a major recession to one of ...
(Date:5/27/2016)... New York, NY (PRWEB) , ... May 27, ... ... caregivers to casual readers, this installment is bolstered by inspiring human-interest stories, courtesy ... trends and tech within the industry, from leading advocates, associations and industry leaders ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... 24, 2016 ARANZ Medical  Ltd ... healthcare sector, has been named the Coretex Hi-Tech Emerging Company ... Dr Bruce Davey , CEO of ARANZ ...  It,s really good to be recognised for the work we ... are used in 35 countries around the world from Sub-Saharan ...
(Date:5/24/2016)... 24, 2016 Celsion Corporation (NASDAQ: ... today provided an update on its ongoing OVATION ... combining GEN-1, the Company,s DNA-based immunotherapy, with the ... patients with advanced ovarian cancer who will undergo ... is an IL-12 DNA plasmid vector formulated as ...
(Date:5/24/2016)... KONG , May 24, 2016 ... , the world , s first ... AV fistula intervention   OrbusNeich, a global ... has expanded its portfolio to include products to treat ... are the company,s first entry devices for lower limb ...
Breaking Medicine Technology: