The Center for Wound Healing, Inc. (Pink Sheets: CFWH) (“CFWH”), a leading operator of comprehensive wound care treatment centers that offer hyperbaric oxygen therapy as well as other wound care treatment modalities, today announced a $17.5 million investment by Bison Capital Equity Partners II, LP (“Bison Capital”). Terms of the investment were not disclosed.
In commenting on its investment, Douglas Trussler, a partner at Bison Capital, said, “We are extremely impressed with The Center for Wound Healing’s track record in operating wound care centers of excellence. The Company’s legacy of clinical outcomes and the strength of its hospital partner relationships are a testament to its commitment to the highest quality of care, coupled with highly professionalized operational management. Through our investment, The Center for Wound Healing will be able to expand the number of centers it develops and operates, furthering the tremendous benefit it provides to its hospital partners and their patients.”
The Center for Wound Healing’s CEO, Andrew Barnett, added, “Bison exerted enormous time and effort to understand our business and the markets we serve. Eighty percent of the patients treated in the Company’s comprehensive wound care centers are diabetic, a population that today exceeds 20 million patients throughout the country and is growing by one million new patients per year. Bison has provided us with substantial long-term capital that will allow us to continue our expansion and provide superb care to this important demographic. We are delighted to have Bison Capital as a critical member of our team. We would also like to thank our shareholders for their support of the Company during this last year and look forward to continuing our efforts to serve a greater share of domestic wound care market.”
About The Center for Wound Healing
The Center for Wound Healing, Inc. manages 36 wound care centers in the eastern United States in partnership with local acute care hospitals. CFWH was founded by physicians in 1997 with a focus on establishing in-hospital centers of excellence to treat the growing incidence of severe grade diabetic wounds of the lower extremities and wounds that are unresponsive to general wound care treatments. The Company’s centers have consistently achieved high treatment success rates, resulting in a dramatic increase in patient quality of life and significant cost savings to the healthcare system.
Forward-Looking Statements
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors. The Center for Wound Healing undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in The Center for Wound Healing's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.Factors that may impact The Center for Wound Healing's success are more fully disclosed in The Center for Wound Healing's most recent public filings with the U.S. Securities and Exchange Commission.
Contacts:
Andrew Barnett, Chief Executive
Officer
732-726-3200
andrew.barnett@centerwh.com
or
Lippert/Heilshorn
& Associates, Inc.
Anne Marie Fields, afields@lhai.com
Ben
Carmichael, bcarmichael@lhai.com
212-838-3777
www.lhai.com
