June 5, 2013 03:44 AM | Press Release
Boston, MA – June 5, 2013 – Covington Associates, LLC announced its role as financial advisor to Envoy Health, a nationwide provider of diabetes supplies and patient support services. Covington acted as exclusive M&A advisor to Envoy Health in its sale to Lincare, Inc., a Clearwater, FL. based healthcare services company.
The Lincare, Inc. acquisition of Envoy Health builds upon a service and product suite that already includes ventilator equipment, sleep disorder therapy, home infusion services, enteral therapy, pulmonary rehabilitation and patient education. Lincare’s acquisition of Envoy allows Lincare to continue to support the needs of diabetes suppliers for medicare beneficiaries.
To date Covington Associates has closed well over 100 healthcare transactions with multiple being in the diabetes management arena. Andrew Zaback, Vice President of Envoy Health, had this to say about the transaction experience, “We hired Covington as our financial advisor for their tremendous domain expertise in the diabetes and healthcare services space and ability to close a transaction,” Zaback continues, “Given the challenging environment within the diabetes industry we were glad to have Covington Associates as part of our team.”
About Envoy Health
Founded in 1995, Envoy Health provides diabetes supplies and support, along with the tools and information to help to manage diabetes. Envoy Health is a Medicare-approved and Exemplary Accredited Durable Medical Equipment (“DME”) provider of both branded and generic diabetes supplies, diabetes health education resources, and innovative care management services to approximately 16,000 diabetic patients. Envoy Health is headquartered in Miami Lakes, Florida. To learn more about Envoy Health visit www.envoyhealth.com.
About Covington Associates LLC
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M & A”), capital raising, strategic advisory, fairness opinions, and valuations to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991 with offices in Boston, Chicago, and New York, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Since its inception, Covington Associates has completed more than 200 transactions globally for both private and publicly traded companies with a compiled transaction value in excess of $15 billion. To learn more, please visit www.covllc.com.
ENVOY ACQUIRED BY LINCARE