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:6/25/2016)... ... 2016 , ... Experts from the American Institutes for Research ... June 26-28, 2016, at the Hynes Convention Center in Boston. , AIR experts ... planning, healthcare costs and patient and family engagement. , AIR researchers will be ...
(Date:6/25/2016)... ... ... The temporary closing of Bruton Memorial Library on June 21 due to a possible lice ... overlooked aspect of head lice: the parasite’s ability to live away from a human host, ... a necessary one in the event that lice have simply gotten out of control. , ...
(Date:6/25/2016)... ... 2016 , ... First Choice Emergency Room , the largest network of ... Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased to ... said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/25/2016)... ... 25, 2016 , ... Dr. Calvin Johnson has dedicated his ... implemented orthobiologic procedures as a method for treating his patients. The procedure is ... to perform the treatment. Orthobiologics are substances that orthopaedic surgeons use to help ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits ... terms of the latter, setting the bar too high can result in disappointment, perhaps ... slow progress toward their goal. , Research from PsychTests.com reveals that ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 24, 2016 The Academy of Managed Care ... that would allow biopharmaceutical companies to more easily ... make formulary and coverage decisions, a move that addresses ... medicines. The recommendations address restrictions in the ... the drug label, a prohibition that hinders decision makers ...
(Date:6/24/2016)... 2016 According to a new ... Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, ... Mode of Purchase (Retail, Non-Retail) - Trends & Global ... the market for the forecast period of 2016 to ... Billion by 2021 from USD 1.65 Billion in 2016, ...
(Date:6/23/2016)... June 23, 2016  MedSource announced today that ... e-clinical software solution of choice.  This latest decision ... value to their clients by offering a state-of-the-art ... relationship establishes nowEDC as the EDC platform of ... full-service clients.  "nowEDC has long been a preferred ...
Breaking Medicine Technology: