NDC's platform provides access to an inventory of approximately 53,000 different products from more than 400 manufacturers serving the primary care, acute care, dental, physical therapy, long-term care, home care, and other specialty end markets.
FREMONT, CA: Platinum Equity acquires NDC, a healthcare supply chain company and distributor of consumable healthcare supplies, from an affiliate of Court Square Capital Partners.
Headquartered in Nashville, Tenn., NDC is one of the largest master distributors in healthcare and serves as an essential intermediary between medical supply manufacturers and a highly-fragmented base of regional and specialty distributor customers.
"NDC has built an impressive national distribution platform with substantial opportunity for growth," said Platinum Equity Managing Director Jason Price. "The company has strong leadership, a service-oriented culture and a unique value proposition that makes the delivery of medical supplies more efficient. Our plan is to continue building scale organically and through additional partnerships or M&A activity to grow the company's footprint and expand its base of customers and suppliers."
NDC's platform provides access to an inventory of approximately 53,000 different products from more than 400 manufacturers serving the primary care, acute care, dental, physical therapy, long-term care, home care, and other specialty end markets.
"We are proud to have partnered with Mark Seitz and the NDC management team over the past five years to grow its diverse customer base, product lines and end markets," said Jeff Abramoff, Partner at Court Square. "The success of this transaction is a result of the differentiated position NDC has in the healthcare supply chain and outstanding work from the NDC management team."
NDC President and CEO Mark Seitz, who has been with the company for 16 years, will continue to lead the business under Platinum Equity's ownership.
"This exciting and transformational partnership with Platinum Equity better positions our company to meet the demands of our dynamic industry," said Mr. Seitz. "NDC's culture is the foundation for our success and we will continue to serve you as your trusted supply chain partner to deliver efficiency to healthcare."
Latham and Watkins served as legal advisors to Platinum Equity on the acquisition of NDC. BMO Harris Bank provided financing for the transaction. William Blair & Company, Cantor Fitzgerald & Co., and Robert W. Baird & Co. served as financial advisors to Court Square, and Dechert served as its legal advisor on the transaction.
