Cleveland-based Martin Healthcare Group has been acquired by HNI Healthcare Inc. for $25 million. By January 2019, the groups will market themselves jointly under the HNI Healthcare mantle.
MHG is a 40-year-old privately held company dedicated to the delivery of inpatient care and staffing solutions to acute and post-acute care hospitals across the Midwest and Florida. Its sale to HNI enables Martin operators and clients to extend their reach beyond their concentrated geography and implement technology-rich strategies within their hospital medicine programs.
“We are excited about this transaction as it allows us to leverage the depth and skill sets of both organizations, providing industry-leading technology, staffing and expanded services for our clients,” said John Martin III, founder and CEO of Martin Healthcare Group, in a statement.
The influence of a combined total of 700 providers practicing in more than 70 inpatient facilities will further enable mission-driven HNI in the transformation of health care. HNI’s proprietary HM VitalSigns software platform is utilized by physicians and partner hospitals to improve clinical quality, operational effectiveness and economic performance.
HNI, with headquarters in Austin, Texas, will retain MHG’s offices in Cleveland as a regional hub. MHG’s leadership will remain, with CEO John Martin III staying on as a strategic adviser to HNI and President Anthony Bernardo assuming the role of division president within HNI.
“We are excited to partner with MHG physicians, employees, leadership and client hospitals,” said Michael Gonzales, founder and CEO of HNI, in a statement. “This acquisition combines MHG’s long-standing tradition of service quality with HNI’s innovative solution set. Our expansion into the Midwest will only strengthen our ability to support our national health system relationships. While the size and scale of this acquisition is unprecedented in HNI’s history, this is the first step in our aggressive growth plan fueled by the confidence health systems and physician practices have put into our differentiated approach to inpatient care.”