A local provider of medical workstations for the acute health care market has received funding in amounts not disclosed from a Massachusetts-based private equity firm, a deal requiring the investment participation of the local company’s CEO and his management team.
According to a company statement released Monday, Riverside Partners of Boston has “completed its investment” in Stinger Medical, a Murfreesboro-based provider of mobile clinical stations and medical technologies.
Stinger Chief Executive Officer Gary Coonan participated in the funding along with unnamed members of his management team. Stinger officials could not be reached for comment Monday.
"Given the rapidly evolving dynamics of today's healthcare ecosystem, Stinger was looking for an investment partner not only to help us grow, but also to help us navigate the increasingly complex healthcare IT market,” Coonan said in the release.
Riverside Partners typically invests in companies with revenues between $20 million and $200 million and with $5 million to $25 million of EBITDA.