Avante Health Solutions has emerged from bankruptcy under new ownership by an affiliate of Staple Street Capital, appointing David Anbari as CEO to lead its next phase.
Summary:
Avante Health Solutions has exited bankruptcy and been recapitalized under the ownership of an affiliate of Staple Street Capital Group, leaving the company with a debt-free balance sheet. As part of the transition, CEO Jim Leitl has stepped down and been replaced by David Anbari, who brings experience in medical equipment service and management. Under its new financial structure and leadership, Avante plans to focus on expanding its service offerings and improving customer support.
Key Takeaways:
- Financial Restructuring Completed: Avante Health Solutions has emerged from bankruptcy with a debt-free balance sheet following its acquisition by an affiliate of Staple Street Capital Group.
- Leadership Transition: Jim Leitl has stepped down as CEO, with David Anbari taking over to lead the company’s next phase of growth.
- Strategic Growth Focus: Backed by Staple Street Capital, Avante aims to enhance its service and parts capabilities while strengthening customer support.
Avante Health Solutions, a provider of aftermarket parts, service, repair, and refurbishment for medical equipment, announced it has exited bankruptcy and been acquired by an affiliate of Staple Street Capital Group, LLC, a private equity firm.
As a result, Avante has extinguished its previous liabilities and operates with a strong balance sheet to position itself for long-term growth, according to a release from the company.
After leading the business through the bankruptcy process, Jim Leitl has decided to step down as CEO and will serve as an advisor to the board of directors. Leitl will be replaced by David Anbari who joined the company as chief executive officer, effective Feb 10.
New CEO Takes the Helm
Anbari brings experience in the medical equipment service industry, having previously served as CEO of Mobile Instrument Service and Repair, a national provider of repair and maintenance services for surgical equipment. Following this role, he served as head of strategy and head of operations at Agiliti Health, an integrated medical equipment management company. At Agiliti, Anbari played a key role in commercial and operational strategy across multiple business segments, helping nearly double the company’s revenue while overseeing clinical engineering services, diagnostic imaging, medical-surgical rentals, and hospital bed and surface manufacturing.
“I am honored to join Avante at this pivotal moment,” says Anbari, CEO of Avante Health Solutions, in a release. “Avante has a strong foundation, talented employees, and a tremendous opportunity to become a bestin-class service and parts provider in the industry. With the support of Staple Street Capital, we will focus on delivering exceptional service to our customers. I look forward to working closely with the team to position Avante for long-term success.”
Leitl adds in a release, “Avante is well-positioned for the future, and I am confident that David’s leadership, experience, and strategic vision will accelerate the company’s growth. I want to thank the entire Avante team for their hard work and commitment through this transition.”
The partners at Staple Street Capital comment in a release, “As we turn the page to a new chapter for Avante, we are excited to be partnered with David as Avante’s new CEO and to invest in Avante’s operational capabilities, service offerings, and customer service. David’s leadership, deep industry knowledge, and operational expertise will be instrumental in driving the next phase of growth. With a strong balance sheet and a focused strategy, Avante is well-positioned to enhance its service and parts capabilities and continue delivering high-quality solutions to its customers. We want to thank Jim Leitl for his stewardship of the business during this transition.”
With Staple Street Capital’s investment and expertise, Avante will focus on customer service enhancements and long-term strategic growth.
ID 353659506 | Acquisition © Ramirezom | Dreamstime.com
