Panorama Point Partners, Dixon Midland and ORIX have sold Midwest Medical Transport to Harbour Point Capital
Midwest Medical Transport
Midwest Medical Transport (MMT) is one of the largest, independently owned providers of private ground ambulance services with operations currently in seven states and nearly 1,000 employees. The company provides advanced life support and basic life support inter-facility transports (IFT) and specialty transports to large and mid-sized health systems, critical access hospitals and long-term care facilities with an industry-leading safety record. MMT is led by Jeff Shullaw, Chief Executive Officer, and a team of seasoned industry veterans with deep ambulance industry expertise. Management partners with customers, typically large hospitals and health systems, to solve their transportation needs by leveraging its state-of-the-art ambulance fleet and proprietary, customer-facing transport management software, offering voiceless, end-to-end transport coordination, data integration, transparency and high customer satisfaction rates.
After years of producing high rates of organic and acquisition based growth, MMT sought a new partner to help continue the momentum and support the multiple opportunities available to grow its geographic footprint, support expansion with new customer relationships, complete more tuck-in acquisitions and augment its proprietary software capabilities. Harbour Point Capital (HPC) entered into a definitive agreement to acquire MMT. HPC will continue supporting the management team and employees to pursue leadership’s vision to establish the leading, IFT-focused, technology-enabled ground medical transportation company.
Stephen George, Founder and Managing Partner at Panorama Point Partners, reflected,”When Panorama and its equity partners, Dixon Midland and Orix Capital, acquired MMT from its founder in 2015, it was a one-state operation serving the Nebraska market. Over the past six years, we have worked closely with MMT’s management team to transform MMT into a premier regional provider serving major healthcare systems across seven states. MMT’s strong reputation for exceptional patient care, paired with their collaborative, customer-centric approach, has empowered industry leading growth and sets the stage for even broader expansion in the years ahead. It is with great pride and enthusiasm that we watch MMT embark on this next chapter with Harbour Point Capital.”
Barry Freeman, Managing Director and Co-head of Lincoln’s Healthcare Group, commented, “We are proud to have delivered an exceptional result for our client in their exit of MMT. We are also pleased to have secured a great, new private equity partner for management as they continue their incredible growth trajectory. Management has built a truly differentiated model in the ground medical transportation industry marrying high-touch, technology-enabled service with exceptional professionals seeking to deliver great care consistently to patients.”
As part of this transaction, we recognize and appreciate the efforts of the Lincoln International team, who provided excellent advice and orchestrated a well-run sale process.
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