Houston, TX, October 3, 2006 – PRNewswire — Avista Capital Partners, a leading private equity firm, today announced it has committed to purchase up to $50 million in MedServe, Inc. to fund a national consolidation of small operators in the medical waste industry. Based in Houston, Texas, MedServe provides medical waste removal and destruction and related environmental services to hospitals, health care clinics, doctors’ offices and other generators of medical waste. MedServe also offers proprietary mobile processing as an alternative to the traditional collection, transfer, hauling, treatment and disposal methodology for servicing the medical waste customer. No other national competitor can offer both onsite processing and centralized collection and processing to its customers.
MedServe was formed in 2005 by the merger of two of the country’s leading providers of medical waste solutions, Med-Shred, Inc., and Enserv LLC. MedServe is led by Roger Ramsey, Med-Shred’s former Chairman and CEO, and Mike Fields, Enserv’s former Chairman and CEO. The management team represents one of only two management teams in the medical waste industry that have managed a multi-state organization of more than $35 million in revenues.
Steve Webster, Co-Managing Partner of Avista Capital, said, “MedServe’s full service offering to its healthcare client base is the most complete in the industry. Avista is excited to work with this very experienced management team to build a national platform in this growing industry.”
Roger Ramsey, MedServe’s CEO, said, “We look forward to a very successful and collaborative partnership with Avista as we continue to grow our business. Avista’s extensive experience in the consolidation of fragmented industries, both as operators and as investors, will be a great asset to us as we pursue our acquisition strategy.”
MedServe Inc., through its Med-Shred and Enserv subsidiaries, is headquartered in Houston, TX, and currently services hospitals and smaller quantity medical waste generators across the Southern, Southeastern, and Midwestern portions of the United States. For additional information, please visit: www.medserveinc.com
About Avista Capital Partners
Avista Capital Partners is a private equity firm with offices in New York, NY and Houston, TX. Founded in 2005, Avista’s strategy is to make controlling or influential minority investments primarily in growth-oriented media, healthcare and energy companies. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. www.avistacap.com
Diana Postemsky, Kekst and Company, 212-521-4805