Medical Guardian announced that the company has received a growth investment from Water Street Healthcare Partners, a strategic investor focused exclusively on healthcare. The company will leverage Water Street's deep expertise in healthcare and significant capital commitment to pursue acquisitions and organic initiatives that will further its expansion and aggressively grow its leadership position in the personal emergency response service (PERS) industry.
With the number of Americans aged 65 years and older increasing along with seniors' desire to live in their own homes as they age, demand for Medical Guardian's medical alert services continues to rise. The company is one of the nation's leading PERS providers with more than 160,000 active subscribers across the country. Medical Guardian offers a suite of connected care solutions that enable seniors to live their day-to-day lives safely and independently. Its products are fully integrated with customer support services, providing seniors with 24/7 protection and deploying emergency personnel if an alert is received.
"Medical Guardian has developed our products and services to meet the needs of a growing senior population that is focused, now more than ever, on aging in place," said Geoff Gross, founder and CEO, Medical Guardian. "Water Street's investment strongly positions Medical Guardian to strategically expand our healthcare partnerships and services, and advance our mission of empowering our customers to live their lives without limits."
He added, "Water Street has an impressive track record of investing in successful healthcare services companies and building them into market leaders. I recognized right away the caliber of their team and their depth of knowledge in healthcare."
Medical Guardian has grown rapidly since its founding in 2005. Named to Inc. Magazine's Fastest Growing Private Companies list for the past eight years, the company is a recognized leader in direct-to-consumer PERS strategies. Working with Water Street, Medical Guardian will invest in acquisitions and organic initiatives to expand its healthcare partnerships and channels, and extend its offering into complementary services.
"Medical Guardian has demonstrated that its senior health solutions are a leading choice for consumers directly selecting their PERS provider," said Max Mishkin, partner, Water Street. "Working with Geoff and his team, we will collaborate with organizations across the healthcare industry to aggressively expand the company's presence, and we will pursue strategic acquisitions and additional growth initiatives to further enhance the company's suite of offerings."
Financial terms of Water Street's investment in Medical Guardian are not being disclosed. Imperial Capital served as the exclusive financial advisor to Medical Guardian.