CHICAGO, IL – June 22, 2022 – Sheridan Capital Partners (Sheridan) announced today its investment in RS&A, LLC (“RSA”), an established medical device independent service provider (“ISP”) based out of Rural Hall, NC. Sheridan invested alongside RSA’s founding team, who retained a meaningful ownership stake in the business and will remain active in the operations of the company.
Founded in 1995 by Carl Hill and Kenneth Wolff, RSA has scaled from a regional service team to a well-established independent service provider, serving a blue-chip customer base within radiation therapy. RSA specializes in a wide range of support services needed to maintain radiotherapy equipment used in the treatment of cancer patients, most notably medical linear accelerators (“LINACs”).
“The entire RSA leadership team and I are excited for the next chapter of growth in partnership with Sheridan,” said DJ Conrad, CEO at RSA. “Sheridan’s investment and healthcare expertise will amplify our ability to deliver responsive, professional, and high-quality services to our valued clients and help improve patient care.”
“Sheridan has spent years developing a thesis around and actively evaluating opportunities within the attractive, growing medical equipment ISP space, and RSA represents the right platform and team with which to execute on our shared vision,” said Sean Dempsey, Partner at Sheridan. “We look forward to working with DJ and the rest of the RSA team to continue to positively impact and support clinical communities nationwide.”
“RSA delivers mission-critical support services to a market reliant upon the access to and on-going operations of highly technical and complex medical equipment,” adds Sheridan Partner Nicholas Rowland. “Differentiated by their combination of deep technical capabilities and an unwavering commitment to service excellence, RSA is a company we are excited to partner with and help grow.”
The transaction was led by Sean Dempsey, Nicholas Rowland, Matt Collins, and Liam McDonald at Sheridan Capital Partners. McGuire Woods LLP served as legal counsel to Sheridan Capital Partners. Kroll Inc. served as financial advisor to the Company. Financial terms of the transaction were not disclosed.
RSA is a North Carolina-based medical device independent service provider for radiotherapy equipment, most notably external beam linear accelerators (“LINACs”). Since 1995, RSA has supported the oncology community through equipment life cycle management, maintenance, parts, and removals / installations. RSA built its business by delivering a responsive and professional service to the oncology industry, enabling its clients to deliver quality patient care. Their client base includes hospitals, medical centers, private cancer centers, universities, veterinary clinics, urology clinics, and GPO / asset management groups across North, Central, and South America.
Sheridan Capital Partners is a Chicago-based healthcare private equity firm that focuses on lower middle market buyouts and growth equity in the U.S. and Canada. Sheridan partners with companies in the verticals of providers and provider services, healthcare IT and outsourced services, and consumer health and medical products, bringing strategic resources to accelerate growth, build enduring value, and achieve strong results.