When Dr. Khan Nedd, founder of Infusion Associates, met representatives of Boyne Capital in 2018, he already knew he had tapped into a tremendous opportunity. The infusion treatment center's first location in Grand Rapids, Michigan, was growing fast, and Nedd was focused on finding a partner to help take its services to more communities. It was a critical inflection point for the business.
In just over five years following Boyne's investment, Infusion Associates grew sales and earnings by five times, expandiwng from one to 14 locations in four states across the Midwest and becoming a major industry player. "Boyne Capital wasn't just a partner-they were the missing piece we needed to reach our true potential," Nedd says.
Millions of Americans suffer from chronic health conditions such as Crohn's disease or multiple sclerosis, requiring regular infusions of medication. Historically, hospitals administered these treatments, but ambulatory infusion centers are seeing more demand as a convenient, accessible, and cost-effective alternative. This shift echoes what's happened in other areas of health care, such as the growth of outpatient surgical centers and urgent care clinics.
Seeing this trend, Nedd opened his first infusion center in 2001. As demand began to exceed capacity, he planned a second center but sought a partner to help with operations.
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