National Healing Corporation Acquires Medical Multiplex, Inc.
BOCA RATON, Fla. - Two of the nation's leaders in the $7 billion global wound care industry have merged to promote advances in the fields of research, education and technology with the acquisition of Louisville-based Medical Multiplex, Inc.(MMI) by National Healing Corporation (NHC), headquartered in Boca Raton, Fla. The transaction was financed by majority stockholders Morgan Stanley Venture Partners and Scale Venture Partners (formerly BA Venture Partners) with new investment from BNY Mezzanine Partners and CapitalSource Finance LLC.
Both privately-owned companies offer development and management of outsourced wound healing centers and hyperbaric oxygen facilities. MMI, which partners with 22 centers in 11 states, will become a division of NHC which accounts for more than 23 percent of the nation's managed wound healing centers. Through the merger, the combined company holds 113 contracts with hospitals in 30 states. As a result of the acquisition, NHC will be able to customize a variety of services for its hospital clients including management, development, consulting, clinical training and education and technical expertise.
NHC CEO James Patrick made the announcement saying, "While National Healing Corporation and Medical Multiplex, Inc. expect to experience economies of scale due to the acquisition, the driving force of this merger is to marry leading edge research and technology with unparalleled clinical education programs. Together we have the wound outcome databases, clinical pathways, software and established research partnerships to create what we believe will become the new gold standard in wound care and hyperbaric oxygen therapy services."
The two firms are already recognized individually for their clinical leadership with NHC holding a Joint Commission on Accreditation of Healthcare Organizations (JCAHO) Disease-Specific Care Certification for wound care and MMI accredited by the Undersea and Hyperbaric Medical Society for its hyperbaric medicine program.
"Over the last few years, our focus at Medical Multiplex has been three-fold -- implementing new centers, delivering outstanding clinical and financial performance for our hospital partners and assembling the best team of technical experts in the industry," said MMI President and CEO Michael J. Mueller. "That's why joining forces with National Healing is such a perfect fit as MMI becomes part of a company that will define excellent clinical care and unequalled center management in the wound care industry."
In the area of promoting research, MMI has partnered with the Mayo Clinic to establish a unit on its Rochester campus to study the benefits of hyperbaric oxygen therapy. NHC is an official partner of the Wound Healing Research Program at The Ohio State University in Columbus in an agreement that includes clinical trials at NHC centers and sponsorship of international wound healing conferences. An ongoing gene study and its resulting database of tissue samples will result in what may be the world's largest catalog of healing and non-healing responses across a wide variety of wound types and patient conditions. The OSU campus is also home of the firm's National Healing Institute where physicians, nurses and technicians from around the country receive specialized training.
NHC wound healing centers follow a proprietary clinical pathway which results in wound outcomes at the forefront of the industry for heal rates. To ensure the clinical excellence of its patient care, NHC took the unprecedented step of establishing a Medical Advisory Board of leading wound healing specialists. The board is currently chaired by Dr. Robert S. Kirsner, founding member and past president of the Association for the Advancement of Wound Care and director of the Wound C.U.R.E Center at Cedars Medical Center in Miami.
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About National Healing Corporation
Founded in 1996 and headquartered in Boca Raton, Fla., National Healing Corporation provides management services and the latest technology and expertise in wound healing to its client hospitals to establish quality wound healing programs. The Joint Commission on Accreditation of Healthcare Organizations has awarded NHC Disease-Specific Care Certification for wound care. Committed to health care compliance and best practice medicine, NHC emphasizes these priorities in its extensive clinical and business training programs. Morgan Stanley Venture Partners and Scale Venture Partners are majority shareholders in the privately held company, which accounts for 23 percent of all managed and outsourced wound centers in the United States. Visit www.nationalhealing.com.
About Medical Multiplex, Inc.
Medical Multiplex, Inc., based in Louisville, Ky., is a consulting and management firm specializing in the development of wound care and hyperbaric medicine programs. MMI provides client support ranging from program development consultation to complete outsourced comprehensive wound center operation. Visit www.medicalmultiplex.com.
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About National Healing Corporation
Founded in 1996 and headquartered in Boca Raton, Fla., National Healing Corporation
provides management services and the latest technology and expertise in wound healing
to its client hospitals to establish quality wound healing programs. The Joint Commission
has awarded National Healing Disease-Specific Care Certification for Wound Care.
Committed to health care compliance and best practice medicine, National Healing
emphasizes these priorities in its extensive clinical and business training programs.
The privately-held company accounts for 30 percent of all managed and outsourced
wound centers in the United States. For more information, please visit
www.nationalhealing.com.
