Platform Partners Completes Investment in Principle Health Systems, LLC

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Jan 03, 2023, 10:36 ET

HOUSTON, Jan. 3, 2023 /PRNewswire/ -- Platform Partners LLC ("Platform"), a private investment company headquartered in Houston, announced that it completed an investment in Principle Health Systems, LLC ("Principle"), a leading healthcare services provider specializing in premium laboratory testing and pain management.

Founded in 2016, Principle is one of the fastest-growing laboratory service providers in Texas with a focus on providing a full suite of testing capabilities for the long-term care industry and other healthcare providers with unparalleled customer service. Principle offers its pain management services through three facilities in greater Houston and treats over 2,400 patients a month to alleviate chronic pain.

"We are honored that Principle chose Platform as their partner to help accelerate and execute on its growth strategy to become the leading independent laboratory services company in Texas, " said Fred Brazelton, CEO of Platform. "We are excited to partner with the founding management team of James Dieter, Chris Light and Brian Langen and appreciate the trust they have put in Platform to be the right partner to build on the great foundation they have developed at Principle," noted Jeremy Newsom, Executive Vice President at Platform.

Principle's founders, led by CEO James Dieter, will continue to manage the business and retain a majority ownership stake in the company. "We are proud of the value that Principle provides to our clients and patients through the critical services we offer and are excited to have a bigger impact in Texas with the addition of available capital and Platform's expertise in helping companies achieve greater success." said Dieter.

About Principle Health Systems, LLC

Principle is a leading health care services provider in Texas serving the laboratory needs for a diverse customer base, including long term care providers with over 2,000 provider relationships in Texas. Principle also operates three pain management clinics with a long-term history of alleviating pain for patients through its spine and pain practice. Principle serves it clients and patients with a focus on service and quality that is driven by the founders and executed by its more than 200 employees. For more information, visit www.principlehs.com.

About Platform Partners LLC

Founded in 2006, Platform Partners LLC is a private investment company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. The company manages total assets of approximately $950 million. For more information, please visit www.platformllc.com.

SOURCE Platform Partners LLC