Business Overview
Founded in 1995, IPA has developed the industry's most complete linen
automation platform to address the problems associated with surgical scrubs
and linen usage in healthcare facilities. The company is widely viewed as the market leader and its products are specifically designed to save facilities money on scrub and linen management by reducing losses, decreasing misuse, and minimizing inventories. IPA's platform products include scrubEx, the industry standard for eliminating scrub inventory management issues, and alEx, the industry's first automated solution designed
to address linen management issues in hospitals. The Company's products are
installed in over 300 leading hospitals throughout North America.
Investment Summary
IPA has a rich history of developing innovative products that provide a high ROI for their customers. As IPA’s products gained market share, the founders and management team were in need of a financial partner with significant experience scaling up a healthcare equipment business. In addition to providing partial liquidity for the shareholders of IPA, the partnership with Riverside has accelerated and enhanced the reconfiguring of IPA’s sales strategy, the recruitment of additional management and the implementation of new systems which will be needed to support the company’s growth. IPA’s products continue to provide a high return on investment for their customers and the company is poised to grow meaningfully by rolling out its new linen automation system and by augmenting its sales and marketing function.