Blue Ox Healthcare Partners Exits Delphi Behavioral Health Group
NEW YORK, October 11, 2017 /PRNewswire/ --
Blue Ox Healthcare Partners, LLC, a specialized private equity firm investing growth capital in the healthcare industry, has exited Delphi Behavioral Health Group, LLC, a portfolio company investment, through a sale to private investment firm The Halifax Group. Delphi is a growing leader in providing chemical dependence and addiction treatment services with 11 boutique-style recovery centers in FL, CA and MD.
The chemical dependence and addiction treatment industry is estimated to be $35 billion according to the National Survey on Drug Use and Health, but is highly fragmented and difficult to navigate. In working with the predecessor companies that eventually formed Delphi as it stands today, Blue Ox was early in recognizing the potential synergies and attractiveness of combining a growing boutique treatment program with an advanced technology engagement platform.
Blue Ox, led by Managing Partner Oded Levy, with its collaborative, hands-on approach in working with the management teams resulted in a company proven to be highly scalable and profitable. The combined platform of Delphi provides differentiated high-touch, evidenced-based therapy and aftercare services that is positioned to continue to succeed and grow in today's marketplace.
"Oded Levy and the Blue Ox team were great partners and provided valuable financial insight and expertise during the initial phases of our growth," said Delphi CEO, Dominic Sirianni. "They brought a depth and breadth of healthcare knowledge to the company that helped us navigate the first three years of growth."
Blue Ox played a pivotal role in the formation of Delphi and guided it to value over a three-year period. The original investment began in Q3 2014 in the creation of Delphi's predecessor company, DHG, with Blue Ox contributing capital and other founders led by Ryan Collison and current Delphi CEO Dominic Sirianni contributing assets in the form of two treatment centers. In March 2016, Blue Ox shepherded a merger with three private companies and a $26 million debt recapitalization by KeyBanc, to form the present Delphi. Blue Ox held an active board seat throughout its involvement and an executive position internally supporting Delphi's financial progress during the inception.
"The Delphi team is in an outstanding position for growth," said Oded Levy, Managing Partner of Blue Ox. "Building innovative businesses is what we love to do and Delphi has been one of our most successful investments. We are delighted to have been involved from the ground up and played a part in the success of Delphi as they ready for their next phase."
Blue Ox Healthcare Partners, LLC is a specialized private equity firm investing in middle market growth-stage companies in the healthcare sector, with an emphasis on healthcare services, HCIT, and medical and life sciences technologies. The Blue Ox team has extensive expertise in building and exiting profitable, sustainable healthcare businesses, and Blue Ox's platform provides its investors with the best features of direct investing and traditional private equity management. For more information, please visit www.blueoxhcp.com or contact info@blueoxhcp.com.
Media inquiries:
Hyacinth Chu
Citigate Dewe Rogerson
E: hyacinth.chu@citigatedr.com
D: +1-(917)-362-8798
Share this article