Great Hill Partners Acquires HealthFair USA
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Boston, MA and Orlando, FL — September 6, 2006 — Great Hill Partners announced today the acquisition of the assets of HealthFair USA, Inc., a provider of mobile medical screenings. In partnership with Jeff Burton, who will assume the CEO position, Great Hill acquired the company through a newly-formed entity, FirstCall HealthCare, Inc. The company’s founders have retained a minority stake in the business.
Founded in 1999, HealthFair offers individuals and corporations affordable, non-invasive medical screenings. The company currently operates in 13 states and offers diagnostic screenings for heart attacks, strokes and aneurysms, utilizing advanced biometrics and state-of-the-art technology to detect early signs of disease and illness.
“We are excited to partner with Jeff and the current management team,” stated Mark Taber, Partner at Great Hill. “The HealthFair team has done a tremendous job tapping a huge, unmet need in a cost-effective manner. We look forward to expanding their service offering across the U.S.”
HealthFair’s screenings address the largest health risks to people aged 45 years and older:
-heart attacks are the #1 killer in the U.S. with 1.1 millions episodes and 460,000 deaths annually;
-strokes are the #3 killer with 700,000 episodes and 275,000 deaths;
-1 in 5 Americans have some form of cardiovascular disease.
Jeff Burton had met Matt Vettel, a Managing Partner at Great Hill, years earlier following his departure from Blockbuster Entertainment, where he oversaw the operations of over 260 stores with combined revenue of $150 million. Prior to forming FirstCall with Great Hill, Jeff was the CFO of Pulse Systems, Inc., an electronic records management company.
“HealthFair has demonstrated its ability to grow while maintaining a very high level of quality of service,” added Burton. “HealthFair has received accreditation from the Joint Commission on Accreditation of Healthcare Organizations (JCAHO), which ensures that our clients, and their medical providers, receive the same quality services received at accredited hospitals and clinics.”
As part of this transaction, Matt Vettel, Mark Taber and Nick Cayer of Great Hill Partners will join Jeff Burton on the Board of Directors of the company. Current HealthFair President Terry Diaz will remain with the company as VP of Operations.
About HealthFair USA, Inc.
A national leader in mobile screening, HealthFair USA serves both individuals and corporations with affordable, pain-free medical screenings. Featuring cutting-edge mobile units we call “health coaches,” HealthFair USA brings state-of-the-art testing, including advanced biometrics, right to your door. For individuals, that means peace of mind is finally attainable. For corporations, it means a healthier workforce and lowered healthcare costs. HealthFair USA tests hundreds of thousands of men and women each year at community centers, religious institutions and retail stores. This early detection of illness and disease using the best technology saves countless lives each year. HealthFair USA is proud to be JCAHO accredited. For more information, visit www.healthfair.com.
About Great Hill Partners
Great Hill Partners is a private equity firm that manages over $1.5 billion in capital and focuses on investing in growth companies operating in the business and consumer services, media, communications, and education industries. Great Hill Partners is currently investing its $750 million fund, Great Hill Equity Partners III, L.P., and targeting investments of $20 million to $100 million. For more information, visit www.greathillpartners.com.