|By Marketwired .||
|September 5, 2013 10:45 AM EDT||
SALT LAKE CITY, UT--(Marketwired - September 05, 2013) - Mercato Partners, a trusted growth capital partner for high growth companies has led an oversubscribed $30M Series B round of financing in Ingram Medical, a technology-enabled healthcare distribution business. Mercato brought together a group of strategic investors including Intermountain Healthcare, an internationally recognized healthcare system, StepStone Group, a global private equity firm and other limited partners.
At its core, Ingram Medical is a chronic care product and sales platform. This financing and partnership will enable the company to continue its rapid growth and expand in other chronic care groups. The company has generated over 400% growth in its customer base over the past two years, driven by a highly automated sales process and exceptional customer service approach. This year Ingram Medical was named one of Utah's fastest growing companies by Utah Business magazine and the founders were awarded the Ernst and Young Entrepreneur of the Year in the Utah region.
"By nearly every measurement from net margin to customer satisfaction, Ingram Medical is the most effective and efficient consumer healthcare distribution business we have ever seen. We are always searching for companies that have a blend of experienced teams, strong sales execution and differentiated technology platforms. Ingram Medical has all three," commented Alison Wistner, Mercato Director and Ingram Medical board member.
Jeff Smith, Ingram Medical CEO, added, "At this stage in our business we had several financing options. We chose Mercato because of its reputation building market leading companies and its ability to assemble a valuable investor group. The Mercato team's unique sales and marketing perspective provides valuable insight into our sales process and growth strategy. We simply want to help even more customers save money and stay healthy."
ABOUT INGRAM MEDICAL
Since 2010, Ingram Medical has helped improve the management of diabetes by providing customers with quality testing supplies and oral medications and then shipping them every month right to their home. Ingram Medical helps diabetics nationwide make sure proper supplies are being used for optimal savings. The company's online Diabetes Health Center offers quality information developed by a staff of expert nurses, nutritionists, educators, and physicians. Please visit www.IngramMedical.com to learn more. For media questions please contact Greg Heaps at 801-727-0174.
ABOUT MERCATO PARTNERS
Mercato Partners is an active growth investor in technology, branded consumer and digital media companies and is one of the top performing funds in the nation. Mercato seeks equity investments in high growth, market leading businesses and has a distinct competency in helping companies accelerate sales, develop new channels and expand to new markets. Recent portfolio successes include Fusion-io, Skullcandy, Control4, and MediConnect Global. For more information about Mercato Partners and its portfolio of companies visit www.mercatopartners.com or contact Joe Grover at 801-252-4888.