Westcove Advises Eco Sound Medical Services in its Acquistion by Federated Healthcare Supply Holdings, Inc.
LOS ANGELES, CA – September 3, 2021 – Westcove Partners LLC (“Westcove”), an emerging and highly specialized investment bank, announced that it acted as the exclusive financial advisor to Eco Sound Medical Services (“Eco Sound”) in its sale to Federated Healthcare Supply Holdings (“Federated”, or “FHS”). Eco Sound, based in Tracy, California, is the leading wholesale distributor of healthcare products to the assisted living and skilled nursing community across six states in the Western United States. The terms of the transaction were not disclosed. Westcove’s deal team included Justin Hand, Managing Director, Scott Schulkin, Associate, and Dimitri Michalakis, Associate.
Eco Sound was founded in 1995 and serves communities across the healthcare continuum in assisted living, long-term-care, post-acute care, behavioral health, continuing care retirement communities, and residential care homes. Eco Sound sources over 6,000 products from over 200 manufacturers and distributes them to over 6,000 customers. Eco Sound’s exceptional customer service model and deep industry relationships have established it as a trusted source for top-of-the-line, brand-name healthcare products from national and independent brands and manufacturers.
With the integration of Eco Sound, Federated will expand its national footprint in the Western United States. Federated is a leading national provider of healthcare supplies offering an extensive inventory from over 600 vendors. Buying directly from major manufacturers allows Federated to address the needs of its diverse healthcare customers at competitive prices.
“We are very excited to welcome the Eco Sound team and Eco Sound customers to the Federated family and to grow our presence on the West Coast. Federated and Eco Sound share a common vision for providing superior customer service and being a reliable source of supply. This is an important acquisition for Federated and is another step in executing our expansion strategy focused on organic growth and strategic M&A” said Gregg Rivkind, CEO of Federated.
“Trust is at the core of any transaction. Westcove Partners exhibited this core value throughout all aspects of this acquisition. The team’s leadership and patience was key – it was through experience and guidance that facilitated and successfully brought this complex transaction to completion” said Mark Hineser, co-founder of Eco Sound.
“We gratefully appreciate Westcove Partners, Justin Hand and his team of professionals for guiding the transition and acquisition of our distribution company. Justin’s accomplished business knowledge and communication skills were instrumental factors to all parties’ successful closing” said Don Huhn, co-founder of Eco Sound.
Justin Hand of Westcove comments, “Eco Sound’s management team has built a highly successful, customer service-oriented organization which is proven by the strong relationships it has established with its vendors and the communities it serves. We believe that Eco Sound’s tremendous reputation in the market together with Chief Operating Officer Patrick Meadows’ tenure and leadership will allow Federated to quickly establish a strong presence on the West Coast.”
About Eco Sound Medical Services
Eco Sound is a leading, independently owned wholesale distributor of healthcare products in the Western United States. Eco Sound serves communities across the healthcare continuum in assisted living, long-term-care, post-acute care, behavioral health, continuing care retirement communities, and residential care homes. The Company distributes over 6,000 products from over 200 manufacturers across six states providing best-in-class customer service and support to all of its 6,000 customers.
About Federated Healthcare Supply Holdings
FHS is one of the largest independent healthcare distributors focusing primarily on the non-acute market in the U.S. FHS believes that independent distributors are stronger when they come together and work as one. The company offers products, capital equipment, services, and technology and supply chain solutions to the entire continuum of care with divisions and experienced professionals dedicated to physician offices, clinics, ambulatory surgery centers, long term care facilities, rural hospitals, community health centers, occupational health, correctional healthcare, EMS, labs, government facilities, home care, hospice, schools and universities, and pharmacies.
About Westcove Partners
Westcove Partners is a leading healthcare-focused investment bank that specializes in advising its clients through mergers & acquisitions, debt and equity financings, as well as other complex corporate finance transactions. The team focuses on founder-operated businesses and seeks to curate its advisory services according to the intricacies that come with these types of businesses.