City Capital Advisors completes sale of Fisher Solutions to NovaMed Corporation
Chicago, IL – December 15, 2014; City Capital Advisors, a results-oriented investment bank serving closely held private companies, announced today that it advised the owners of Fisher Solutions, LLC in the sale of the company to NovaMed Corporation. The transaction was led by City Capital Managing Directors Tim Coleman and Matt Phillips.
Fisher Solutions, founded in 1990 and headquartered in Troy, Michigan, offers customized turn-key maintenance and service solutions for diagnostic imaging, laboratory and biomedical equipment to community and regional hospitals and healthcare systems as well as independent surgery and imaging centers and physician practices. Fisher prides itself on providing an attractive alternative to costly OEM service contracts through solutions tailored to each client’s specific needs and circumstances. Founded in 1983, Connecticut-based NovaMed Corporation uses a combination of trained in-house technicians and outside service partners to provide flexible equipment solutions at a savings to OEM service contracts to a broad range of healthcare and research organizations.
“The combination of Fisher Solutions and NovaMed Corporation will create a strong and value-added resource for healthcare providers throughout the country,” said Craig Bush, President of Fisher Solutions, “we share a common dedication to providing our customers with equipment services and solutions that maximize uptime while efficiently managing their costs.” While Fisher Solutions serves clients across 8 states, it has strong and long-standing relationships in the Midwest. NovaMed Corporation, with 250 customers in 18 states, primarily along the eastern seaboard, welcomes the opportunity to expand their geographic coverage. “The Midwest is an important geographic market for us,” said Robert Constantine, President of NovaMed Corporation, “and Fisher Solutions’ strong customer relationships and flexible and cost-effective service offerings align well with our mission at NovaMed.”
About Fisher Solutions, LLC
Fisher Solutions, LLC was founded with the goal of cost-effectively managing healthcare equipment repair and maintenance costs for hospitals, clinics, outpatient facilities and physician offices through a unique model that offers both OEM and service provider neutrality. Fisher Solutions leverages its proprietary database of service records covering hundreds of makes and models of healthcare and medical equipment along with its extensive knowledge of equipment OEMs and independent service organization to provide flexible, value-added solutions to clients.
About NovaMed Corporation
Originally founded in 1983 as a subsidiary of the Southern Connecticut and Yale New Haven Health Systems, NovaMed today operates as an independently owned service organization helping healthcare facilities and providers and research establishments maintain and repair their imaging, biomedical and research equipment cost-effectively with minimal downtime. In addition to comprehensive maintenance services, NovaMed also offers new and refurbished equipment sales as well as equipment installation, relocation and disposal services.
About City Capital Advisors, LLC
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment banking firm focusing on closely held private companies. Client engagements are managed exclusively by experienced senior investment bankers who provide business owners with unparalleled strategic advice and transaction execution that allows them to capitalize on the value of their companies while achieving their objectives as shareholders. City Capital’s investment bankers have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.