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H.I.G. Capital Announces Strategic Investment in California Forensic Medical Group
SAN FRANCISCO, CA – January 7, 2013 – H.I.G. Capital, LLC, a leading global private equity investment firm, is pleased to announce that its affiliate has made a strategic investment in California Forensic Medical Group, Inc. (“CFMG” or the “Company”). CFMG is the leading provider of outsourced healthcare services for county jail inmates in California. Since 1983 the Company has provided California counties with high quality healthcare services for county jail inmates. CFMG is based in Monterey, California, and has operations throughout California.
H.I.G. has partnered with Dr. Taylor Fithian, President and Medical Director, Elaine Hustedt, Vice President of Operations and Personnel, and Dan Hustedt, Vice President of Finance, to continue to ensure that CFMG is the leading outsourced provider of healthcare services to county correctional facilities.
“We have found a wonderful partner in H.I.G., who understands how important CFMG is to our customers and employees and shares our vision for continued prosperity for the Company,” said Dr. Taylor Fithian. “We are excited to work with H.I.G. given their experience investing in the healthcare and corrections sectors,” noted Elaine Hustedt.
Rob Wolfson, a Managing Director at H.I.G. Capital commented, “We are very excited to invest in CFMG alongside its founding management team. Taylor, Elaine, and Dan are exceptional people and have built a best-in-class company that has differentiated itself by lowering healthcare costs while improving quality, enabling them to establish true partnerships with their county customers. CFMG and its employees place their customers (inmates and county corrections personnel) first and that focus will continue to be the key to CFMG’s success.”
About California Forensic Medical Group
CFMG is the leading provider of outsourced healthcare services for county jail inmates in California. Headquartered in Monterey, California, the company delivers full-service healthcare services for thousands of county jail inmates across California. Since being founded in 1983, the Company has provided responsive, innovative, high quality and cost effective correctional healthcare services to California counties. CFMG’s programs are accredited through the California Medical Association, Institute of Medical Quality for both adult and juvenile correctional facilities.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $10 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 70 companies. For more information, please refer to the H.I.G. website at www.higcapital.com.