Deloitte Corporate Finance LLC advises Millennium Healthcare Management, Inc. on its sale to Ochsner Health System
CHARLOTTE, N.C., Mar. 1, 2017 — Deloitte Corporate Finance LLC acted as exclusive financial advisor to Louisiana-based Millennium Healthcare Management, Inc. (MHM) on its sale to Ochsner Health System (Ochsner). MHM, based in Metairie, Louisiana, is a leading urgent care and occupational medicine healthcare provider in Louisiana. The transaction closed Jan. 10, 2017.
MHM maintains 12 strategically located state-of-the-art urgent care clinics and four occupational medicine clinic locations. The transaction will support continued growth and expansion of access for patients as MHM becomes part of Ochsner’s comprehensive medical network in southern Louisiana.
“Deloitte Corporate Finance was an invaluable partner for us, offering comprehensive knowledge of the healthcare sector that was integral to the success of this transaction. MHM could not be more pleased with the outcome,” said Zach Wooldridge, CEO of Millennium Healthcare Management, Inc.
Aaron Handler, founding partner at Elm Creek Partners (Elm Creek), echoed the sentiment, “In late 2010, we saw an opportunity to build the dominant chain of urgent care clinics in New Orleans, which at the time was still suffering from a lack of medical care providers in the aftermath of Katrina. This is a validation of that thesis and supports our broader theme of investing in consumer-driven healthcare.”
“MHM worked to set the standard for urgent care in Louisiana and now, as part Ochsner, can continue to grow as a leading healthcare provider,” said Tom Spivey, managing director, Deloitte Corporate Finance LLC.
“Ochsner and MHM both have stellar reputations in New Orleans and southeast Louisiana. We look forward to both companies’ continued success,” added Simon Gisby, managing director, Deloitte Corporate Finance LLC.
About Millennium Healthcare Management, Inc.
MHM is a leading provider of urgent care and occupational medicine in Louisiana. The Metairie-based company is dedicated to providing the greater New Orleans community with first-class care and treatment at its conveniently-located offices. MHM’s skilled staff treat patients for common illnesses and injuries and provide services such as sports physicals, drug screenings, and x-rays. As a result of MHM’s many service offerings and quality care, the network fosters repeat business from its patrons and is a recognized name in the New Orleans area. For more information, visit www.mhmurgentcare.com.
About Ochsner Health System
Ochsner is Louisiana’s largest non-profit, academic, healthcare system. Driven by a mission to serve, heal, lead, educate and innovate, coordinated clinical and hospital patient care is provided across the region by Ochsner's 30 owned, managed and affiliated hospitals and more than 60 health centers. Ochsner is the only Louisiana hospital recognized by U.S. News & World Report as a “Best Hospital” across three specialty categories caring for patients from all 50 states and more than 80 countries worldwide each year. Ochsner employs more than 17,000 employees and over 1,000 physicians in over 90 medical specialties and subspecialties, and conducts more than 600 clinical research studies. For more information, visit www.ochsner.org.
About Elm Creek Partners
Elm Creek was founded in 2007 in Dallas, Texas, as a middle market private equity firm. The firm partners with talented and entrepreneurial individuals or management teams to transform companies. Healthcare Services is one of Elm Creek’s industries of expertise. Elm Creek’s principals leverage decades of experience and a patient, disciplined investment style in order to deliver strategic guidance and resource allocation to its portfolio companies. For more information, visit www.elmcreekpartners.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC (DCF) provides strategic advisory services and M&A advice that help corporate, entrepreneurial, and private equity clients create and act upon opportunities for liquidity, growth, and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.