Deal Details

Solara Is Acquired by AdaptHealth

Healthcare

Solara, a portfolio company of Linden, sale to AdaptHealth

Summary

Solara Medical Supplies, LLC (“Solara” or the “Company”), a portfolio company of Linden Capital Partners (“Linden”), was recently acquired by AdaptHealth Corp. (“AdaptHealth”) (NASDAQ-CM: AHCO) for a total purchase price of $425 million, including $362.5 million of cash at closing and $62.5 million in common stock issued to current owners.

Baird served as exclusive financial advisor to Solara Medical Supplies, LLC on this transaction.

About

Solara is a leading direct-to-patient distributor of advanced diabetes therapy products including continuous glucose monitors, durable insulin pumps, and patch insulin pumps. Founded in 2002, the Company operates offices in California, Michigan, Arizona, Texas, North Carolina, South Carolina, Alabama, Ohio, and Illinois. Solara is headquartered in Chula Vista, California.

Linden is a private equity firm focused exclusively on investing in the healthcare industry. Linden’s strategy is based upon three elements: i) healthcare specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms across the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Linden is headquartered in Chicago, Illinois.

AdaptHealth is a leading provider of home medical equipment in the United States. AdaptHealth provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to life, and thrive. Product and services offerings include sleep therapy equipment (CPAP and BiPAP machines and supplies), respiratory equipment (including oxygen, invasive and non-invasive ventilation), mobility equipment, wheelchairs, walkers, and hospital beds. AdaptHealth also provides custom bracing services, hospice focused HME services, wound therapy, and nutritional HME services. AdaptHealth is headquartered in Plymouth Meeting, Pennsylvania.

Healthcare

Solara, a portfolio company of Linden, sale to AdaptHealth