Bridgepoint Advises Diabetes Supply Center of the Midlands on Impact Sale to AdaptHealth
Transaction will cement Company as one of the largest diabetes supply companies in the Midwest and spur important nonprofit investments into education and research to support the diabetes community.
Aug. 31, 2020 – OMAHA, Neb. – Bridgepoint Investment Banking is pleased to announce it advised Diabetes Supply Center of the Midlands (DSCM) on its sale to AdaptHealth (Nasdaq:AHCO), a leading full-service medical equipment distribution company.
DSCM is wholly owned by Diabetes Education Center of Midlands (DECM), a nonprofit with a 30-plus year legacy dedicated to improving the lives of diabetics. DSCM is a distributor of diabetes devices and ancillary products throughout the Midwest. This transaction will allow DECM to increase diabetes awareness and have a greater impact by using the proceeds to promote diabetes education, research and compliance throughout the region.
As 34.2 million or 10.5% of Americans currently live with diabetes and an additional 88 million or 34.5% are pre diabetic, the need to operate on a level playing field with national providers was essential for DSCM to provide the highest number of patients the optimal treatment solutions. DSCM’s new partner will further augment its national footprint and provide more cutting-edge diabetes products to the region.
“After 29 years of consistent growth, DSCM had outgrown our nonprofit and needed a partner to compete in the ever-changing diabetes and payor reimbursement market. I am proud of what the board of directors at DECM and the management team at DSCM have accomplished,” said Mark Huber, Chairman of the Board. Huber added, “Bridgepoint has served as a trusted advisor to the Board on this critical decision and has helped accomplish all of the Board’s goals. Bridgepoint’s process-oriented approach has resulted in a tremendous outcome for the Board. We are excited to deploy the endowment funds to continue to impact the lives of diabetes patients throughout Nebraska, the region and nationwide.”
“Our industry is experiencing rapid, significant changes. Bridgepoint’s dedicated healthcare team, through its deep industry relationships, brought to bear multiple, highly attractive partnership opportunities to help us remain competitive into our next phase of growth. Bridgepoint has found us the ideal buyer through a thoughtful approach and relentless persistence that will ensure an excellent patient experience long into the future.” said John Pryor, President of DSCM.
“It was a pleasure to work collaboratively with such a professional management team and a respected board of directors to arrive at a fantastic outcome for a values-focused business. We are proud of the impact the proceeds of this transaction will have on the lives of diabetics in our region and are excited to watch the DSCM management team work with its new partner as they bring more solutions to diabetic patients across the country,” said Bridgepoint Managing Director Gary Grote. “We truly believe this next step in the company’s life cycle will not only fund an important Nebraska nonprofit but spur great growth and advancements within the diabetes arena, potentially providing lifesaving research.”
“This is the type of impact that we’re proud to be associated with as impact investment bank – one that is aligned with our core values and mission of paying it forward,” said President & CEO Matt Plooster. “We, along with DSCM, firmly believe that this is part of our responsibility to the communities in which we work and live.”
About Bridgepoint Investment Banking
Bridgepoint Investment Banking, a division of Bridgepoint Holdings, LLC, is a market-leading boutique impact investment bank. The Bridgepoint team, through their broker dealer relationship with M&A Securities Group, Inc., an unaffiliated entity, serves clients over their corporate lifecycles by providing capital raising and M&A advisory solutions. Bridgepoint serves clients globally across a range of focus sectors including healthcare. To learn more about Bridgepoint Investment Banking, please visit bridgepointib.com.
About Diabetes Supply Center of the Midlands
The Diabetes Supply Center of the Midlands began with the request of patients attending classes at the Diabetes Education Center. Patients were in need of help obtaining certain unique diabetes products, like continuous glucose monitoring systems. DSCM was formed in 1991 to help fund the nonprofit Diabetes Education Center of the Midlands. It grew quickly with a reputation as the place to turn to in the Nebraska/Iowa area for diabetes products. In 1997, DSCM expanded by adding on-staff pharmacists to assist with drug card orders. For more information about DSCM, please visit https://diabetes-supply.com/.