Marks Fourth Add-On Acquisition Completed by Covalent Health Family of Companies
BOSTON– BUSINESS WIRE — New Heritage Capital (“Heritage”) is pleased to announce that its portfolio company Covalent Health (“Covalent”), through its subsidiary Century Ambulance, has acquired St. Vincent Ambulance Service (“SVAS”), the dedicated transport provider for St. Vincent HealthCare facilities in the Jacksonville, Florida market. As part of the transaction, Covalent subsidiary Century Ambulance will become the primary ambulance provider to St. Vincent HealthCare and other local healthcare facilities previously served by SVAS.
Covalent Health is the nation’s leading provider of innovative patient logistics solutions to hospitals, payors, physicians and health systems that transform non-emergent patient transport from a task into an opportunity for increased revenue, reduced costs, and increased patient satisfaction. Covalent’s tools for more effective patient flow include dedicated transfer centers, on-site transport coordinators, and phone-app ordering, among others. Covalent operates throughout several key metropolitan areas across the United States.
“The acquisition of SVAS further ingrains Covalent as a leading patient logistics provider in the Northern Florida market,” said Melissa Barry, Partner at New Heritage Capital. “Through its subsidiary Century Ambulance, Covalent will provide the highest quality patient care and innovative logistics solutions to the St. Vincent HealthCare hospital system as it has for many other leading health systems in the U.S. We at Heritage continue to enthusiastically support Covalent as it continues its growth in new and existing markets.”
About New Heritage Capital
Heritage is a Boston-based private equity firm with a 20-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives.
About Covalent Health
Founded in 2000 and headquartered in Cotati, California, Covalent Health is the nation’s leading provider of innovative outsourced patient logistics services. The company operates through subsidiaries ProTransport-1, PRN Ambulance, Century Ambulance, and ATS Ambulance in the Northern California, Southern California, Northern Florida and the Metropolitan Chicago / Indianapolis markets. Visit www.covalenthealthsolutions.com for more information about the company and its innovative suite of services.