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Sterling Partners, a growth-oriented private equity firm with approximately $5 billion of assets under management, announced today its partnership with Surgical Solutions, an industry-leading provider of support and equipment for surgical procedures, whose customized, cost-effective approach is designed to improve efficiency, ensure physician and staff satisfaction, and deliver a superior patient experience. Sterling Partners will work closely with the company's owners and founders, Eric Stinson and Alex Kellen, who will remain a part of the executive team. Financial details surrounding this transaction were not disclosed.
Surgical Solutions was founded in 2007 to help hospitals and clinicians improve spending and operating efficiencies within the U.S. healthcare system. The new partnership allows Surgical Solutions to maintain its exceptional delivery of services and savings to its customers, while scaling its market presence and service offering within the U.S.
"Hospital administrators are eager to find new ways to save money while promoting 'physician-friendly' facilities and delivering the highest quality of care. That is exactly what Surgical Solutions allows them to do," says Kim Vender Moffat, principal at Sterling Partners. "We're thrilled to partner with Eric and his team, to take what they've built and help them to further scale that service while not losing focus of the company's founding mission and service orientation."
Surgical Solutions provides hospitals, doctors and staff with state-of-the-art products and equipment and the skilled personnel to facilitate workflow and inventory management in the operating room, resulting in substantial reduction of operating costs. Surgical Solutions provides unionized and non-unionized hospitals 24/7 access to highly trained technicians who can support surgical procedures, provide preoperative setup, intraoperative technical support, and postoperative room turnover, maintain surgical instruments, and reduce medical waste, among other services.
"Because Surgical Solutions provides a unique, niche service within the marketplace, we've become an industry leader by increasing efficiencies, boosting volume, and cutting costs, without sacrificing quality," says Stinson. "But in order to scale our business and become the company we know we can be, we needed a partner. Sterling Partners not only brings an entrepreneurial mindset to the table, they also bring the financial and intellectual capital we need to reach our goals."
"Only those innovative healthcare services companies that consistently deliver quality and value to patients at a lower cost to the system will have staying power in this industry," says Danny Rosenberg, managing director at Sterling Partners. "Surgical Solutions is one of those companies."
Surgical Solutions is now the eighth company in Sterling's active healthcare services portfolio, with an additional six companies previously exited.
Source: Sterling Partners