Deal List

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DEALS BY INDUSTRY

DEALS BY SERVICES

  • Anthem Inc.

    Healthcare: Other

    Largest provider of private health insurance in the U.S.

    $2 billion initial public offering of common stock

  • Bindley Western Industries Inc.

    Healthcare: Other

    Pharmaceutical distribution and services company

    $65 million offering of convertible subordinated debentures

  • Choice Care

    Healthcare: Other

    HMO

    $14 million initial public offering of common stock

  • Cole National Corporation

    Healthcare: Other

    Provider of optical products and services and personalized gifts

    $122 million follow-on offering of common stock

  • Cole National Corporation

    Healthcare: Other

    Provider of optical products and services and personalized gifts

    $28 million follow-on offering of common stock

  • Collaborative Clinical Research

    Healthcare: Other

    Clinical research organization

    $41 million initial public offering of common stock

  • Collaborative Clinical Research

    Healthcare: Other

    Clinical research organization

    Sold to: West Company, Inc. (Lionville, PA)

  • Continental Pharmacy Inc.

    Healthcare: Other

    Pharmacy services provider

    Sold to: MIM Corporation (Pearl River, NY)

  • DATATRAK International, Inc.

    Healthcare: Other

    Provides software applications to the clinical trials industry

    Provided valuation services

  • Molina Healthcare, Inc.

    Healthcare: Other

    Provide Medicaid-related solutions to meet the health care needs of families and individuals and to assist state agencies in their administration of the Medicaid program

    Sale leaseback of the company's corporate headquarters and satellite office

    Molina Healthcare, Inc.

    Western Reserve served as a co-advisor and placement agent to Molina Healthcare, Inc. (NYSE: MOH) in its sale and lease back of its corporate headquarters in Long Beach, California and satellite office in Columbus, Ohio.  Molina closed the transaction on June 13, 2013, conveying both properties to AG Net Lease Acquisition Corp., the dedicated net lease group of Angelo, Gordon & Co., for $158.6 million in proceeds.  The transaction was led by Managing Director Victor Faris, supported by Associate Matthew Reus and Analyst Andrew Foster.

    Molina Healthcare, Inc., a FORTUNE 500 company, provides quality and cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program. Molina’s licensed health plans in California, Florida, Michigan, New Mexico, Ohio, Texas, Utah, Washington, and Wisconsin currently serve approximately 1.8 million members, and Molina’s subsidiary, Molina Medicaid Solutions, provides business processing and information technology administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, and West Virginia, and drug rebate administration services in Florida. More information about Molina Healthcare is available at www.molinahealthcare.com.

    “We were delighted to represent Molina and to work with McKinney Advisory Group and Molina’s management team on this transaction,” said Mr. Faris.  “This partnership allowed Molina to cost-effectively monetize the value of its real estate and is a great outcome for both parties.”

    “We thoroughly enjoyed working with Western Reserve Partners, McKinney Advisory Group and Molina on this sale lease back. We look forward to a long and mutually beneficial relationship with all of the involved parties,” said Fort Parker, a Director at Angelo, Gordon & Co.

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

  • NCS Healthcare Inc.

    Healthcare: Other

    Long-term healthcare pharmacies

    $70 million initial public offering of common stock

  • NCS Healthcare Inc.

    Healthcare: Other

    Long-term healthcare pharmacies

    $121 million follow-on offering of common stock

  • NCS Healthcare Inc.

    Healthcare: Other

    Long-term healthcare pharmacies

    Acquired: Corinthian Health Care (Indianapolis, IN)

  • Quincy Bioscience, Inc.

    Healthcare: Other

    Developer and commercializer of novel technologies to support good brain health in aging

    Private offering of senior subordinated notes provided by CapitalSouth Growth Fund (Charlotte, NC)

    Quincy Bioscience, Inc.

    Western Reserve Partners served as the exclusive investment banker to Quincy Bioscience, Inc.  in its successful private offering of senior subordinated notes. Proceeds from the offering will be used to finance Quincy’s rapid growth and refinance existing debt. The sole investor in the transaction is CapitalSouth Growth Fund.

    Headquartered in Madison, Wisconsin, Quincy is a leading biotechnology company focused on the discovery, development and commercialization of novel technologies to address brain health and other age-related health challenges, including memory loss.  The Company utilizes an innovative protein to manufacture its flagship product, Prevagen®, which is sold directly to consumers through direct response marketing campaigns and major drug store chains in the United States.

    Mike Beaman, CEO of Quincy, said, “We are very pleased to be partnering with CapitalSouth and very appreciative of Western Reserve’s dedication to structuring a creative financing solution.  Western Reserve delivered a successful outcome to Quincy’s shareholders, as we are now well-positioned with a strong financial partner to capitalize on our growth strategy.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

  • Verisma Systems, Inc.

    Healthcare: Other

    Provider of technology-enabled Release of Information (ROI) services to healthcare organizations

    Received: growth equity capital from NewSpring Capital (Radnor, PA) and Blue Heron Capital (Richmond, VA)

    Verisma Systems, Inc.

    Western Reserve Partners announced that it served as the exclusive investment banker to Verisma Systems, Inc. in the healthcare technology company’s first institutional capital raise. The growth equity financing was led by Radnor, PA-based NewSpring Capital and Richmond, VA-based Blue Heron Capital, among other investors, including Jim Crook, former President of IDX Systems Corporation, and Jim Riley, former President of Capario. The growth capital will be used to fund the Verisma’s marketing, technology and management expansion initiatives.

    Verisma is a leading provider of technology-enabled Release of Information (ROI) services to healthcare organizations across the country. The company’s patented, cloud-based software platform allows healthcare systems to securely manage the release of medical records, improve workflow efficiency, decrease error rates and lower administrative costs. Verisma is a recognized innovator in the ROI market, known for developing next generation functionalities related to HIPAA compliance, audit reporting and dashboard analytics.

    Verisma’s executive chair, Ken Thompson, said, “We are greatly appreciative to Western Reserve Partners for advising us through this transaction process, which resulted in our partnering with two excellent healthcare investment firms in NewSpring and Blue Heron. This is the third transaction I have engaged Western Reserve Partners on and greatly value our longstanding relationship.”

    “We are very pleased to have assisted Verisma in this transformative financing. With NewSpring and Blue Heron’s strategic and financial backing, Verisma can accelerate the inflection-point growth it is experiencing and meet providers’ increasing demand for highly compliant, secure and efficient patient health information,” said Mr. Male.

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

  • Vision Care Holdings (Eyeglass World LLC subsidiary) (portfolio company of Summit Partners)

    Healthcare: Other

    Chain of eyewear retail stores

    Sold to: National Vision, Inc. (Lawrenceville, GA), a portfolio company of Berkshire Partners, LLC (Boston, MA)

    Vision Care Holdings (Eyeglass World LLC subsidiary) (portfolio company of Summit Partners)

    Western Reserve acted as exclusive financial advisor to Vision Care Holdings, a portfolio company of Summit Partners, in the sale of its Eyeglass World, LLC subsidiary to National Vision, a portfolio company of Berkshire Partners.

    Headquartered in Lake Worth, Florida, Eyeglass World provides retail optical products and services through 62 vision superstores in 24 states.  According to Vision Monday Magazine, Eyeglass World is the 14th largest optical retail chain in the U.S.  Eyeglass World’s strategy is to offer value-conscious customers a large selection of high-quality, brand name eyewear and superior customer service at discount prices.

    Vision Care was in need of additional capital to execute its strategic plan in a difficult economic environment and engaged Western Reserve to assist in the sale of the business.  Western Reserve leveraged its expertise in specialty retail, and the optical sector in particular, to orchestrate a sale process that included conversations with the leading domestic and international strategic buyers as well as private equity groups with related interests.

    In January 2009, Eyeglass World was acquired by National Vision, the fifth largest optical retail chain in the U.S.  Western Reserve’s delivery of an effective and timely solution maximized the outcome for Summit and Vision Care’s other stakeholders despite a challenging economic environment.

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