Daily News: March 19, 2013

ICV Partners Acquires Atlantis Healthcare Group


ICV Partners, an investment firm focused on lower middle-market companies, announced it has established a kidney dialysis treatment platform with the acquisition of Atlantis Healthcare Group Puerto Rico.

Concurrent with the transaction, ICV, in partnership with Dr. Randall Maxey, Dr. Otegbola Ojo, and Ms. Ruby Harford, is forming American Alliance Dialysis Holdings (AAD) to identify and evaluate strategic investment opportunities in North America and the Caribbean.

Cory Mims, managing director of ICV, said, “We are excited to have AAD as our first investment for ICV Partners III. Dr. Ojo has built Atlantis into a strong player within its current market. We look forward to leveraging Dr. Maxey’s medical expertise and strong relationships with nephrologists throughout the U.S. to develop a significant position for AAD in the U.S. dialysis market over the next several years. AAD is now well-positioned as a platform investment and we expect to grow the business by pursuing a number of strategic and organic expansion opportunities while, at the same time, identifying new ways to continue providing the highest quality patient care.”

Dr. Maxey said, “Atlantis has a successful track record of growth in Puerto Rico and integrating new facilities into its network. We will continue to grow in Puerto Rico by adding new dialysis treatment facilities. In addition, because of the fragmented nature of the industry in the U.S., we will be able to tap into a rich pipeline of opportunities as we execute strategic acquisitions and grow AAD into new geographic areas.”

Dr. Ojo, said, “Atlantis is an outstanding company and our highly skilled management team, outstanding physicians, and compassionate medical staff provide the highest standards of patient care with a unique integrated focus on quality of life to over one thousand patients each year. There continues to be a growing need for dialysis treatment and I believe our new partnership with ICV will prove to be extremely valuable as we seek ways to ensure better patient outcomes.”