Ambulatory Services of America, the local holding company for several healthcare ventures, has secured $75 million in capital from New York firm Lindsay Goldberg.
Brentwood-based ASA was founded in 2006 by Timothy Martin, a former executive at Renal Care Group. The company late last year bought a dialysis company with more than 30 centers from Ohio to Guam. Its other outpatient businesses, which market cardiology and radiation oncology services, operate about a dozen sites.
Martin said his team will use Lindsay Golberg's cash to wrap up several undisclosed acquisitions and expand its footprint.
"We have a great opportunity to continue our growth," Martin said. "We look forward to working with Lindsay Goldberg to build dynamic businesses in radiation therapy and dialysis services and to identify other sectors in which we can succeed."
As part of its investment, Lindsay Goldberg will take three board seats and is first in line for potential future investments. The firm, which bills itself as a conservative, long-term investor, manages more than $5 billion in capital. It has 11 U.S. offices – including one in Nashville, where it is aligned with turnaround experts Rand Krikorian and Steve Crider – as well as European outposts in Oslo and Düsseldorf.
Among Lindsay Goldberg's recent investments are Brightstar, a Florida-based wireless supply chain management company with more than $3 billion in revenue, and marketing company Rosetta, which had 2007 revenue of about $50 million.In addition to its funding, ASA today announced it has formed a joint venture with a group of Texas doctors that will run the docs' center. It is the fourth of its kind.
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