BETHESDA, Md.--(BUSINESS WIRE)--Northlane Capital Partners (“NCP”) announced today the sale of PAR Excellence Systems Inc. (“PAR”, or the “Company”) to OceanSound Partners. NCP and PAR’s management team will continue as investors in the Company.
Founded in 1992, PAR enables government, non-profit, and private healthcare systems and integrated delivery networks to realize meaningful cost savings and operational efficiencies. The Company’s automated supply chain management solutions, comprised of cloud-based software, proprietary hardware products, and value-added services, allow customers to optimize medical supply inventory management to provide real-time visibility into their materials inventory and spending. Through PAR’s proprietary analytics platform, healthcare organizations save millions of dollars annually in supply and labor costs through inventory optimization, with previously manual and time-consuming tasks automated, allowing healthcare professionals to focus on patients. Additional information is available at www.parexcellence.com.
Justin DuFour, Partner at NCP, said, “Since our investment in 2017, we have collaborated closely with the PAR management team to broaden the Company’s product offerings and expand PAR’s commercial and technical capabilities. PAR has clearly established itself as an innovative provider of supply chain management solutions and we are confident in its ongoing success.”
“NCP has been a valued partner, and we are pleased they will continue as investors in this next phase,” said Thad MacKrell, CEO of PAR. “We are grateful to NCP for its strategic and operational support.”
Sean Eagle, Partner at NCP, added, “We have enjoyed working with Thad and the PAR management team and are pleased that we were able to leverage our healthcare industry expertise and executive network to support the Company and position it for continued growth.”
ABOUT NORTHLANE CAPITAL PARTNERS
Based in Bethesda, MD, NCP is a middle market private equity firm focused on key segments within the healthcare and business services sectors, where its principals have invested $1.7 billion of equity capital. NCP’s strategy is to partner with industry leading companies and great management teams, aligning incentives to accelerate growth and build value. For more information, please visit www.northlanecapital.com.
