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Promus Equity Partners and Generation3 Capital acquire LogicMark

The Chicago-based private equity firms Promus Equity Partners and Generation3 Capital have purchased certain assets of LogicMark, a company that makes personal medical alarm systems.Terms of the transaction have not been disclosed.

Logicmark produces communication devices for the personal emergency response system (PERS) industry, including two-way emergency communication pendants and related accessories. The company was founded by Mark Gottlieb in 2006 and has rapidly gained new customers in the security dealer, durable medical equipment distributor and governmental agency channels. Promus partnered with Generation3 Capital, LLC to complete this acquisition on 30 December, 2011.

“The company’s differentiated products and diverse customer base made this an attractive investment opportunity for us,” says Andy Code, Managing Partner of Promus Equity Partners.

“Logicmark is well positioned to continue gaining share in a high growth, cost-conscious industry,” added Sarah Wuellner, a Principal at Promus.

The PERS industry has recently posted 10 – 15% annual growth as a result of increased trends in independent living and the rising cost of skilled nursing centers. PERS devices enable elderly and disabled adults to continue living independently while maintaining peace of mind that assistance from friends, family or emergency services is only a phone call away.  

“We are excited about Promus Equity Partners and Generation3 Capital making an investment in our business and believe this will help expand our market coverage and enable us to focus on introducing new products” says Gottlieb, who will continue his employment with the company as Chief Creative Officer.

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