Health Monitor Network Announces Recapitalization Transaction

Health Monitor Network Announces Recapitalization Transaction

Montvale, NJ and Boston, MA - Health Monitor Network (“HMN,” “Health Monitor,” or the “Company”), a healthcare marketing platform that provides innovative, high-quality medical education to patients and healthcare professionals directly at the point-of-care and beyond, today announced that it completed a majority recapitalization led by Gridiron Capital, LLC (“Gridiron”). As part of the transaction, WestView Capital Partners (“WestView”) received liquidity for its 2019 investment in Health Monitor, and will remain a material shareholder in the Company.

Through its network of over 450,000 healthcare professionals across 250,000 physician offices nationwide, Health Monitor provides award-winning content to over 20 million patients. The Company’s product line includes unique condition specific guides and one of the fastest growing portfolios of digital point-of-care solutions in the industry.

HMN CEO David Paragamian and the entire management team will continue to lead Health Monitor in its next chapter of growth. Gridiron is investing alongside the current management team, with substantial reinvestment from the current ownership group, including WestView. Gridiron will support the HMN management team to accelerate and unlock growth opportunities in current and new channels across both existing and new products.

“WestView has been fantastic to work with over the past few years. They supported us in making the necessary investments to build our team, launch new products, modernize and expand our network, and build lasting relationships with our customers,” said Health Monitor CEO David Paragamian. “We look forward to their continued involvement in the Company and the addition of Gridiron and their expertise and resources, which will enable us to continue on our rapid growth trajectory.”

“We are most proud of the team Health Monitor has built, led by David and President Howard Halligan. The Company’s senior leadership team has built a growth-oriented business that is an established leader in this growing point-of-care category. We are excited to be involved in Health Monitor’s next chapter,” said Rick Williams, Managing Partner at WestView. Added Jeff Clark, a Principal at Westview, “Health Monitor continues our success investing in the outsourced pharmaceutical services area, which continues to be a focus area for us. Congratulations to all involved on a great outcome.”

Health Monitor and WestView Capital Partners were advised by Cain Brothers, a division of KeyBanc Capital Markets, and Latham & Watkins LLP.

About Health Monitor Network

Health Monitor Network is the leading direct-to-patient (DTP) company in the United States. It has provided high-quality patient education through digital, print, and mobile platforms to over tens of millions of condition sufferers through 250,000+ medical offices and more than 450,000 healthcare professionals over its 40-year history. Additional information is available on HMN’s website: www.healthmonitornetwork.com.

About WestView Capital Partners

WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages $2.7 billion in capital across five funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in several sectors, including: software and IT services, healthcare technology and outsourcing, business services, and growth industrial. WestView targets investments of $20 to $100 million in companies with revenue of at least $10 million and operating profits between $3 and $25 million. For more information, please visit www.wvcapital.com.