Livingstone supplies partner for PAR Excellence Systems

  • Jan 2017
  • Healthcare
  • M&A: Sell-Side
  • US

Livingstone’s Healthcare team is pleased to announce the sale of PAR Excellence Systems, Inc. (“PES”) to Northlane Capital Partners (“Northlane”). Livingstone was the Company’s exclusive financial advisor.

Founded in 1992 and headquartered in Cincinnati, Ohio, PES is a leading provider of automated supply chain management systems and related support services to hospitals across the United States ranging in size from 25 to 1,000+ beds. The Company’s systems integrate with existing healthcare facility infrastructure (e.g., accounting systems, materials ordering systems, etc.) to: (i) fully-automate inventory replenishment activities; (ii) record patient-specific billable revenue; (iii) generate real-time, system-wide inventory visibility; and (iv) provide data-driven analytics to optimize inventory levels.

“We relied on Livingstone’s experience and knowledge of the healthcare sector and relevant buyers to secure an outstanding result for the Company’s customers, employees, management team, and shareholders,” said PES’s Founder and Chief Executive Officer, Joseph Dattilo. “The management team looks forward to continuing to innovate the PAR Excellence service offering and expanding our geographic coverage under Northlane’s ownership.”

“Current macroeconomic trends and population demographics continue to bolster the healthcare sector, leading to favorable conditions for sellers,” said Jim Moskal, Partner at Livingstone. “We expect robust valuations to continue as acquirers seek assets that reduce overall healthcare costs and/or improve patient outcomes.”

With the sale of PES, Livingstone’s Healthcare team adds another closing to its extensive resume of successful healthcare transactions, having completed seven deals in the sector over the last 18 months.  Other recent transactions include the sales of DuvaSawko to Ancor Capital Partners, Home Helpers to Linsalata Capital Partners, and Cardiac Science to Aurora Resurgence.

Dinsmore & Shohl LLP served as legal counsel to PAR Excellence Systems, Inc.

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