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Mission Health was featured in an article in the Tampa Bay Business Journal, written by Margie Manning, Print Editor.


Tampa Investors Quietly Build Healthcare Powerhouses

May 7, 2015, Tampa, FL – Mission Health Communities nearly doubled in size, when the company took over management and operation of 14 skilled nursing and health care facilities in Kansas.

It was a big step for Mission, one of the portfolio companies of Windward Health Partners, a Tampa-based private equity firm co-founded by Bryan Crino and Scot Feuer of Skyway Capital Partners.

Mission Health took over the Kansas facilities in March from Deseret Health Group, working closely with the Kansas State Department for Aging and Disability Services. On May 5, the Kansas agency took control of a separate Deseret facility, after Deseret told the state it was insolvent, according to the Wichita Business Journal.

Mission now manages a total of 32 companies, up from 13 in 2010, and has operations in six states. Mission closed two major deals in 2014, including a $40 million purchase/leaseback of the North Ridge Communities in Minneapolis and a long-term lease of three communities in Wisconsin.

The Kansas acquisition “is part of Mission Health’s plan for careful, controlled growth in senior housing facilities over the next five years,” Stuart Lindeman, president and CEO, said in a statement posted on Mission’s website.

In an interview, Crino credited Lindeman with driving growth at Mission. Lindeman previously was senior vice president of the U.S. division at Revera Inc. in Ontario, Canada. “He ran a half-billion dollar organization and we recruited him away two years ago,” Crino said.

Crino likes the senior living sector because it is fragmented — a large industry with a lot of small operators — and “we didn’t view the standard for operating across the industry to be very high,” he said. “We didn’t think the industry was very progressive. It didn’t use technology well. It didn’t have particularly sophisticated operational or financial systems.”

Mission Health brings those types of changes.

“With scale, you can do a lot more interesting things. Stuart has helped us get to the scale where we can begin to take a leadership role,” Crino said.

Mission does not disclose its financial information, but Crino said it would rank among the largest privately held firms in Tampa Bay, and among the fastest-growing companies locally.

Mission is one of five portfolio firms for Windward, which was funded by the personal earnings the founders received from Skyway’s investment banking business, Crino said. Harmony Healthcare, one of the largest temporary and permanent employment firms in Tampa Bay and headed by Christopher Brown, is another Windward portfolio firm. Other portfolio companies hold real estate assets around the country, Crino said.

Windward has a couple of acquisitions it is considering, he said.

“We continue to look for companies where we can add value through operational and financial system improvements and sales and market impacts, working closely with our executive leaders,” Crino said.

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