Quality Biomedical Announces Completion of External Financing to Power Its Phase 2 Growth Strategy.
Boulder, CO based Quality Biomedical, a provider of biomedical equipment management and service solutions to distributed healthcare providers nationwide, today announced the close of an external financing by Aeonic Partners, a New York private equity fund. The company is poised to continue its national expansion of service centers supporting the growing post-acute and acute care, and medical transportation industries.
Boulder CO, September 10, 2019 — Quality Biomedical, the leading provider of biomedical equipment management and service solutions, today announced the completion of an external investment, by Aeonic Partners of New York. This financing represents the first institutional investor in Quality Biomedical.
“In assessing the service and asset management industry supporting distributed healthcare, my colleagues and I concluded the industry was underserved in many respects by existing providers who had failed to innovate and invest in critical infrastructure needed by clinical providers. The industry in our mind was therefore in need of disruption with a comprehensive suite of solutions that operated everywhere the distributed healthcare industry operated. With this premise, we developed Q-Connect, an industry-first, cloud-based technology platform allowing our customers to manage every aspect of non-clinical care of their biomedical equipment. In addition, we started a national build out of service centers and warehouses as well as regional logistics networks, to support this vision. We are very fortunate that we found Aeonic Partners, who shared our vision. Together we will power the next phase of our growth, to support our customers nationwide.”, said PK Bala, CEO of Quality Biomedical.
Headquartered in Boulder, CO, the company operates service centers in 5 states, CO, FL, GA, MO and TX, offering distributed healthcare companies such as, home medical equipment companies, emergency services companies and skilled nursing facilities, a comprehensive suite of supply chain solutions integrating warehousing, biomedical equipment service and asset management and tracking technology applications. These solutions improve the care providers’ workflows and equipment fleet utilization, drives business process efficiencies, reduces turnaround time for equipment services and capital outlays and supports FDA compliance for our customers.
These distributed healthcare companies operate tens of thousands of clinical locations all over the country that deploy biomedical equipment to patients in the home and local community. Quality Biomedical’s suite of solutions directly address this market that has been underserved and overlooked for a very long time. The company’s phase two expansion includes opening service centers and warehouses over the next 12 to 18 months, to more efficiently cover the north east, mid-west, and west, which together with its current footprint provides nationwide coverage and reinforces its position as the leading provider of biomedical services in distributed healthcare in the country.
“ We are thrilled to partner with Quality Biomedical to support the company’s growth. The management team has executed on its vision of developing a technology-enabled equipment management solution that addresses the needs of healthcare providers and equipment manufacturers. Quality Biomedical’s unique combination of proprietary software, national and expanding service footprint, and customer-focus deliver demonstrable value to its customers and industry partners and is recognized by some of the healthcare industry’s largest and most sophisticated providers. We look forward to working with the Quality Biomedical team to continue to innovate and add new value-added services to existing and new customers and other key stakeholders”, said Brad Resnick, Managing Partner at Aeonics Partners.
The company’s national expansion from 5 to 12 service centers includes a major expansion of its focus from home medical equipment (HME) to include the EMS (emergency services) and skilled nursing industries. In addition, this expansion will enable the company to provide OEM’s (original equipment manufacturers) of biomedical equipment with a national reach, offering more comprehensive services to their clinical customers.
About Quality Biomedical
Quality Biomedical Inc. is a privately held technology-enabled services company providing nationwide service and management solutions for distributed and acute healthcare companies in operating large fleets of biomedical equipment. The company provides an integrated logistics, warehousing, service / repair, documentation management and other related services underpinned by its technology platform called Q-Connect. Please visit www.qualitybiomedical.com.
About Aeonics Partners
Founded in 2019, Aeonic Partners is a private investment firm investing in middle-market businesses across North America. Aeonic Partners takes a long-term approach, and partners closely with the management teams of the companies in which it invests. The firm’s principals have deep experience in private equity, operations and capital markets.
Please visit www.aeonicpartners.com