HNI Healthcare Announces Robust Series E Funding

Business Wire

AUSTIN, Texas--(BUSINESS WIRE)-- HNI Healthcare (HNI) announces closing $32.64 million Series E financing on December 22, 2017. The substantial funding was provided by New York-based Bison Capital and Austin-based Spindletop Capital.

Founded by CEO Michael Gonzales, HNI is dedicated to leveraging its proprietary technology and hospital medicine management expertise in the transformation of care delivered throughout the inpatient episode. HNI improves operational efficiencies and the economic performance of client hospitals, while measurably improving patient outcomes.

“The funding from Bison will enable us to invest heavily in the continued evolution of our proprietary technology, VitalSigns™, while we continue to expand our geographic footprint and participation in alternative payment models,” said Gonzales. “We couldn’t be happier to see Spindletop continue and deepen their financial sponsorship, while welcoming Bison to the partnership.”

This is the sixth investment for Bison Capital from their $377 million Fund V. “Bison Capital is thrilled to partner with the team at HNI,” said Bison Capital Partner Andreas Hildebrand. “Their organization has developed an outstanding reputation for helping hospitals improve both their clinical and financial performance. We believe HNI’s proprietary technology solution has positioned it for continued success and rapid growth.”

Founder and Managing Director of Spindletop Capital, Dr. Evan Melrose, added, “With our focus on value-based healthcare, we first invested in HNI in 2015 to help drive growth of their technology-enabled service business. We have seen the company grow significantly over the last few years, which we believe positions HNI to become a market leader, driving improved patient outcomes and lowering costs across the healthcare system.”

About HNI Healthcare (HNI)

HNI is a technology-enabled physician practice management company focused on the delivery of full-service facility-based physician programs to improve the quality of patient care. The Company’s physicians, processes and technologies enable hospitals to improve key quality and performance metrics through a more clinically integrated care model. HNI is based in Austin, Texas. Visit our website at www.hnihealthcare.com.

About Bison Capital

Bison Capital is a Los Angeles and New York based private equity firm that makes growth-oriented investments in middle-market companies for expansion, acquisitions and balance sheet recapitalizations. The firm’s primary investment approach is partnering with entrepreneurs and management teams seeking capital to grow their businesses. www.bisoncapital.com

About Spindletop Capital

Spindletop Capital, founded in 2011, is a healthcare investment firm focused on providing expansion capital for commercial stage healthcare companies. Based in Austin, Spindletop is managed by an unrivaled team of investment professionals and advisors with deep operating, technical, and transactional experience. Spindletop Capital leverages the organization's deep experience, broad network, and proprietary access to Texas resources to enhance value for management teams and financing syndicates. Spindletop Capital invests nationally across all sectors of healthcare including medical devices, diagnostics, healthcare services, healthcare IT, specialty pharmaceuticals and biotechnology. For more information, visit www.spindletopcapital.com.