May 23, 2017 – Primus Capital (“Primus”) announced that it has closed the sale of its portfolio company, PartsSource, an Aurora, Ohio-based provider of medical parts procurement solutions for hospitals, outpatient clinics, and physician offices to Great Hill Partners. Primus co-invested with Polaris Partners in the prior re-capitalization of PartsSource.
Founded in 2001, PartsSource’s core electronic spend management platform automates the procurement process of medical parts and supplies from product sourcing to financial settlement, incorporating proprietary analytics to optimize compliance, efficiency, cost, and quality. In addition to automating the highly complex workflow associated with procurement, the Company created and maintains the industry’s only online, fully integrated medical parts procurement marketplace. PartsSource facilitates more than 1.5 million transactions annually by connecting thousands of suppliers and OEMs to over 3,300 hospitals worldwide. For more about PartsSource, please visit http://www.partssource.com.