Private equity exit: One Equity sells InfuCare Rx back to founder

One Equity Partners has completed an exit from InfuCare Rx through a strategic, founder-led equity repurchase, marking a return of control to management. Financial terms were not disclosed, but the move underscores a broader trend of private equity sponsors monetising investments in mature healthcare services platforms.

Founded in 2014, InfuCare Rx operates a national specialty infusion platform that treats complex and chronic conditions. The business runs three core verticals—immunoglobulin therapy, specialty infusion and bleeding-disorders services—and reports servicing roughly 14,000 patients across all 50 states with about 800 employees. That footprint has positioned the company as one of the larger independent providers in the U.S. home-infusion space.

According to Inna Etinberg, a partner at One Equity Partners, the firm partnered with management to optimise revenue-cycle processes and operational efficiency, initiatives she credited with driving the company’s value during the hold period. Initiatives included supporting regional expansion — notably backing the acquisition of a Florida-based infusion provider to establish a brick-and-mortar foothold in that market — and strengthening back-office infrastructure to scale care delivery.

Deven Patel, InfuCare’s founder and CEO, said the repurchase positions the business for an independent growth chapter focused on expanding clinical reach and competing against national consolidators. The founder-led buyback structure is increasingly used in healthcare when founding teams want to retain strategic direction after a period of institutional ownership.

Analysts and industry reports place the U.S. home-infusion and specialty infusion segment in the low billions by revenue, growing at a mid-single-digit compound annual rate as payors and providers shift care from hospital to outpatient and home settings. That secular tailwind—together with favourable demographic trends and chronic-disease prevalence—helped make InfuCare an attractive platform for private equity capital earlier in the cycle.