Correctional Medical Group Companies, an H.I.G. Capital Portfolio Company, Completes Strategic Investment in TransformHealthCS
SAN FRANCISCO – May 23, 2016 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with $19 billion of equity capital under management, is pleased to announce that its portfolio company, Correctional Medical Group Companies, Inc. (“CMGC”) has completed a strategic investment in TransformHealthCS, Inc. (“Transform”). Transform is a leading provider of outsourced healthcare services for county jail inmates in Georgia and North Carolina.
As part of the CMGC family, Transform will benefit from CMGC’s national scale, and over 30 years of expertise in delivering best-in-class correctional healthcare that is focused on clinical excellence. CMGC and Transform are providing responsive, innovative, high quality, and cost effective healthcare services across the Western, Southwestern, Midwestern, and Southeastern United States. As the latest member of the growing family of CMGC, Transform is being re-branded as Southeast Correctional Medical Group (“SECMG”).
Allison Judge, the CEO and founder of Transform, said the following about the partnership: “The strength and depth of CMGC and its senior management team will enable us to improve our infrastructure, expand our footprint, and most importantly, positively impact the lives of more patients. Further, CMGC’s commitment to high quality clinical care aligns perfectly with the mission and values that Transform was founded upon.”
Kip Hallman, the CEO of CMGC, commented that: “Transform represents a model partner for CMGC. Allison and her team have built a great company with an intense focus on clinical quality and improving the lives of the inmates in their care. They share our passion for providing great care and commitment to “Always Do the Right Thing.” While most of our growth at CMGC has been organic to maintain our consistently high standard of care, service, and stewardship, Transform is a perfect extension of CMGC because their team consistently lives up to these values. We are truly excited about the partnership and are looking forward to working with the Transform team to serve more customers and provide compassionate care to more patients.”
TransformHealthCS is a Statesboro, GA based provider of correctional healthcare services to county jails in Georgia and North Carolina. Founded in 2003, Transform has been delivering clinical based healthcare services to inmates for over 12 years. Transform’s management team believes that a combination of community engagement, technological innovation, and ongoing partnership with county customers is the only way to address the challenges and difficulties counties face with managing the healthcare of their inmates.
About Correctional Medical Group Companies
Correctional Medical Group Companies (“CMGC”) provides comprehensive medical and behavioral healthcare services to corrections facilities throughout the United States through a family of regionally-focused companies. Each regional operating company focuses on meeting the unique needs of its market, ensuring we provide responsive service to our corrections partners and care to our patient / inmate customers. This is accomplished by a careful combination of local leadership, autonomy, service and stewardship with national scale, systems, resources and best practices. The first CMGC member, California Forensic Medical Group (“CFMG”), was founded in 1983 and serves almost 90% of California’s outsourced counties. Southwest Correctional Medical Group (“SWCMG”), Northwest Correctional Medical Group (“NWCMG”), Southeast Correctional Medical Group (“SECMG”) and Midwest Correctional Medical Group (“MWCMG”) serve counties across the United States living by a simple code: Always Do the Right Thing. CMGC’s enduring success is built on a passionate commitment to its patients and its county partners.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $19 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- Other H.I.G. funds invest in various real assets, including real estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.hig.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.