MedOptions Announces a Recapitalization Led by Summit Partners and Point Judith Capital

April 29, 2015

Old Saybrook, CT & Boston, MA – MedOptions, LLC (“MedOptions” or the “Company”) www.medoptionsinc.com, completed a recapitalization led by Summit Partners, (“Summit”), a Boston-based growth equity firm and return investor Point Judith Capital (“Point Judith”), a Boston-based venture capital firm.  Terms of the transaction were not disclosed.

MedOptions is the nation’s leading provider of behavioral health services to skilled nursing and assisted living facilities. The company provides comprehensive assessments and interventions through a multidisciplinary team of psychiatrists, psychologists, nurse practitioners, and licensed clinical social workers.  The management team of MedOptions, led by CEO Ed Mercadante R.Ph., CFO Donna Dooley and Douglas Brandt M.D., will continue to lead the company. With the backing of Summit and Point Judith, the company is well positioned to continue its rapid expansion in the growing behavioral health services sector.   

“We are delighted to partner with Ed, Donna and the entire MedOptions team,” said Mark deLaar, a Managing Director with Summit Partners, who has joined the Board of Directors.  “There is strong demand in the post-acute setting for the behavioral health services provided by MedOptions’ coordinated clinical teams. Many patients in long-term care facilities suffer from cognitive and mental health conditions that can hinder their ability to improve medically and can further deteriorate their general conditions often leading to hospital re-admissions.”  

“Summit and Point Judith will support our commitment to providing high-quality clinical services to our customers and our patients,” Mr. Mercadante said.  “We believe they are the right partners to support our continued growth and success, and we are enthusiastic about the opportunities that lie ahead for MedOptions.”

David Martirano, co-founder and a General Partner at Point Judith Capital added, “The team at Point Judith has watched the current management group develop MedOptions into the dominant player in the market.  We welcomed the opportunity to continue working with such a world class team and organization.” Martirano also joined the company’s Board of Directors.

About MedOptions

MedOptions, based in Old Saybrook, Connecticut, is the Nation’s leading provider of behavioral health services to the long-term care market. The company has more than a decade of experience and serves over 800 post-acute facilities with a team of over 300 behavioral health clinical specialists (including Psychiatrists, Nurse Practitioners, Psychologists and Licensed Clinical Social Workers) throughout the Eastern United States. For additional information, visit www.medoptionsinc.com

About Summit Partners

Founded in 1984, Summit Partners is a growth equity firm that has raised more than $16 billion in capital. Summit has invested in more than 400 companies in healthcare, technology and other growth sectors.  Summit maintains offices in North America and Europe and invests in companies around the world.  For more information, visit www.summitpartners.com

About Point Judith Capital

Point Judith Capital is a leading early stage venture capital firm based in Boston, MA.  The firm focuses on investments in software and technology enabled services.  Point Judith has invested in over 50 companies that have collectively achieved over $12.5 billion of value.  For more information, visit www.pointjudithcapital.com

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.