Wakabayashi Fund invests in MIT Holding
Wakabayashi Fund, a private equity firm based in Tokyo and New York, has invested in US healthcare firm MIT Holdings. The financial details of the transaction were not disclosed.
Through its subsidiaries, Georgia-based MIT provides a range of healthcare-related products and services.
Its Medical Infusion Technologies division specializes in out-patient services for residents in Southeast Georgia and the South Carolina Low Country areas. These include the rental of home medical equipment such as walkers, wheelchairs and respiratory equipment as well as the provision of intravenous therapy and 24/7 on-call nursing.
The company also distributes wholesale pharmaceuticals both in the US and overseas. According to a release, MIT has initiated government contacts to obtain approvals needed to import pharmaceutical products into the Dominican Republic, Haiti, Costa Rica, the Bahamas, Argentina, and Brazil.
"Bringing multiple funding sources to the table enables MIT to explore the best options available for the company. Wakabayashi offers unique funding sources that we believe will compliment the MIT expansion using an acquisition revenue growth strategy," said Walter Drakeford, co-CEO and co-President of MIT.
Wakabayashi Fund typically invests in profitable and emerging small-cap and mid-cap companies providing growth capital and early-stage financing as well as engaging in management buyouts.
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