Target: Healogics Inc
Price: $1 bln
Sponsor: Metalmark Capital
Financial adviser: Goldman Sachs
Private equity firm Metalmark Capital has tapped Goldman Sachs Group to find a buyer and is preparing to send detailed financial information to interested parties in the next several weeks, the people said, asking not to be named because the matter is not public.
Representatives for Metalmark and Healogics did not respond to requests for comment. A Goldman Sachs spokesman declined to comment.
Healogics and its affiliated companies partner with more than 550 hospitals in the United States to provide advanced wound care services and treat about 200,000 patients annually, according to its website.
The Jacksonville, Florida-based company is expected to attract interest from private equity buyers, which have shown strong appetite for healthcare services assets in recent years, according to the people familiar with the matter.
Large industry peer Kinetic Concepts Inc, a maker of medical devices used in wound care, was taken private in 2011 for $6.3 billion by a consortium comprised of Apax Partners and Canadian pension funds.
New York-based Metalmark, the former private equity unit of Citigroup Inc, was divested last year as the bank sought to comply with the Volcker Rule, which limits investment bank investments in illiquid asset classes.
Metalmark has $2.5 billion of committed capital in its latest fund, and focuses investments in energy and natural resources, industrials and health care industries, according to its website.
Soyoung Kim, Greg Roumeliotis and Jessica Toonkel are reporters for Reuters News in New York