Cressey & Company has announced it has acquired HealthDrive from Bain Capital Double Impact.
HealthDrive, based in Framingham, Mass., is a multi-specialty clinical services organization to patients residing in long-term care facilities. Founded in 1989, the company states it employs more than 500 clinicians in more than 3,800 facilities,
Cressey, with offices in Chicago and Nashville, seeks control and minority equity investments exclusively in healthcare. Established in 2008, the firm considers a wide range of investments in middle market companies.
Bain Capital Double Impact, based in Boston, makes control and minority equity investments in middle market companies within healthcare and a few other industries. Founded in 1984, the firm prefers to make more substantial investments from a dollars perspective. Within healthcare, Bain Capital Double Impact targets the provider services, hospital/major facilities, and non-reimbursement industries.
Terms of the acquisition were not disclosed.