in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, Fla. (October 12, 2021) – Farlie Turner & Co., LLC (“Farlie Turner”), a leading investment bank serving middle market companies, announced today that it advised Health Network One and its affiliates (“HNO” or the “Company”) in a recapitalization with H.I.G. Capital. Terms of the transaction, which closed on June 30, were not disclosed.
Based in Fort Lauderdale, Florida, HNO owns and operates a leading family of single specialty medical provider networks in several states and Puerto Rico. The Company’s provider networks deliver healthcare services to over 5 million plan members on behalf of its managed care organization clients. H.I.G. Capital is a leading global alternative investment firm with $45 billion of equity capital under management across several fund strategies.
“We appreciate Farlie Turner’s guidance, healthcare industry expertise and relationships, and deep commitment to HNO during our recapitalization process,” said Luis Mosquera, Chief Executive Officer of the Company. “The Farlie Turner team provided outstanding advice throughout the transaction. Their considerable experience in the healthcare space meant they were able to get up to speed on our business very quickly, and add true value to our search for an experienced partner.” he added.
Craig Farlie, Managing Director of Farlie Turner, observed: “It was a pleasure to work with Luis and the very talented HNO management team to achieve an excellent result for the Company’s shareholders, employees, health plan partners and providers. We wish them the best going forward as they continue to grow and prosper with access to even greater resources.”
Scott Saunders, Managing Director of Farlie Turner, added: “I’m pleased we were selected to assist HNO in choosing the right partner for the business moving forward. H.I.G. Capital’s healthcare investment team has an excellent track record, considerable experience in the payor services sector and was a logical choice for the Company. The HNO transaction represents another successful outcome for our firm’s healthcare advisory practice.”
In addition to Messrs. Farlie and Saunders, the Farlie Turner transaction team included Kyle Jones.