Daily News: February 5, 2014

Pamlico Capital Provides VRI Equity Investment

Pamlico Capital III and the management team of Valued Relationships announced that Pamlico acquired a majority interest in the company. Chris Hendriksen, CEO, and Andy Schoonover, president, will retain significant ownership of VRI and will continue to manage the growth of the company in partnership with Pamlico. Detailed terms of the transaction have not been disclosed.

VRI was advised by Triple Tree (financial advisor) and McDermott Will & Emery (legal counsel). Pamlico was advised by Alston & Bird LLP (legal counsel).

VRI will represent the first investment in Pamlico Capital III, a recently raised fund with $650 million of aggregate commitments.

Hendriksen said, “Andy and I are proud of the growth and success that the business and our employees have achieved and are excited about taking this next step with Pamlico. The team at Pamlico has significant knowledge of our business and a strong appreciation for VRI’s core goal of helping to extend and improve quality of life for our clients.”

Schoonover added, “We believe that VRI is well-positioned for future growth through new strategic customer relationships and the ongoing adoption of remote-patient monitoring as a solution for providing high- quality, cost-efficient care for seniors and persons living with disabilities or illness. The Pamlico team brings knowledge of the space and ongoing capital for additional investment and acquisitions, and we are excited about what this could do for VRI’s employees and customers.”

Pamlico Partner Art Roselle said, “Having invested in several related healthcare businesses over time, we were immediately impressed with the company’s high-quality service offering, unique channel strategy and focus on improving outcomes for a growing demographic of elderly, ill and disabled clients. We are thrilled about the opportunity to partner with Chris and Andy and look forward to working with the VRI team to grow the business.”

Headquartered in Franklin, Ohio and founded in 1989, VRI is one of the country’s largest providers of telehealth monitoring, monitored medication adherence solutions and medical alert systems.