West Palm Beach, Florida, June 1, 2007 – The ComVest Group has provided $24 Million in financing to Accelerated Care Plus Corp. (“ACP”) in the form of Convertible Preferred Stock through its ComVest Investment Partners III Fund. The proceeds will be used to retire subordinated debt and expensive lease financing arrangements, fund growth, purchase currently licensed patents, and provide a partial liquidity event for the co-founder and non-management shareholders. ACP is well-positioned for continued revenue growth by expanding its market share in an underserved market. ACP provides cost-efficient, non-invasive treatment programs to skilled nursing facilities and other rehab providers for pain, wounds, incontinence and other prevalent conditions.
About ACP
Headquartered in Reno, Nevada, Accelerated Care Plus is the leading provider of specialized rehabilitation programs for long-term care facility operators and other rehabilitation service providers. With 2300 partnering facilities nationwide, ACP’s comprehensive clinical programs provide superior treatment outcomes for patients and allow rehab providers to treat a broader range of prevalent conditions. The programs include patented medical devices, evidence-based clinical protocols, on-site therapist training and on-going support to client facilities.. ACP is also the “therapeutic modality of choice” for 100 professional and collegiate sports teams around the country. The devices are used to enhance performance and accelerate recovery among elite athletes. For more information, visit www.acplus.com or contact Tony Taylor at 1-800-350-1100.
About ComVest
The ComVest Group is a Leading Private Equity Firm focused on investing in middle-market companies. Since 1988 ComVest has invested more than $2 billion of equity capital in over 200 public and private companies worldwide. Through our extensive financial resources and broad network of industry experts, we are able to offer our companies total financial sponsorship, critical strategic support, and business development assistance. Their focus is centered on building industry leading companies and creating long term value for equity holders. For more information on ComVest, visit www.comvest.com.