Satori Capital, a Dallas-based private equity firm, has invested in Longhorn Health Solutions, a direct-to-home provider of consumable medical supplies, durable medical equipment and pharmaceutical prescriptions serving the Medicaid, Medicare and privately insured populations across Texas.
“Longhorn is intently focused on reducing total cost-of-care for managed care organisations by streamlining billing processes, improving patient utilisation and compliance, enhancing product quality, and heightening transparency throughout the patient, provider, and payor ecosystem,” says Sunny Vanderbeck, managing partner at Satori. “We believe in the team’s service-based approach, and look forward to partnering with them to further serve the growing needs of their stakeholders.”
Longhorn offers customers a range of high-quality disposable medical products, incontinence supplies, durable medical equipment, enteral nutrition products, and diabetic testing supplies. The company is a contract provider for managed care organisations within Texas Medicaid STAR+PLUS, STAR, and Medicare. Longhorn also recently launched a pharmacy division that serves the entire state of Texas. The company employs nearly 150 team members, and leverages its ten branch locations to utilise a high-touch delivery model. Britt Peterson, founder and chief executive of Longhorn, will continue to lead the company.
“Longhorn has earned a reputation for excellence through its reliable performance, dedicated customer service, statewide presence, and commitment to integrity and kindness across everything that we do,” says Peterson. “Our partnership with Satori provides access to a deeper network of healthcare expertise, a valuable collection of operational best practices, and ample resources for both organic expansion and growth via acquisition. Collectively, these resources strengthen Longhorn’s ability to provide higher quality products and services that improve patient outcomes, while also providing manufacturers with cost-effective access to a highly fragmented home health patient base.”
The Brookside Group provided debt financing for the transaction, and Allegiance Capital Corporation acted as exclusive financial adviser to Longhorn. Patton Boggs and Munsch Hardt Kopf & Harr acted as legal counsel to Satori Capital and Longhorn Health Solutions, respectively. Specific terms of the transaction were not disclosed.
