Heritage Capital Group Announces Successful Merger of The Blood Alliance and OneBlood
JULY 2015 -
Heritage Capital Group is pleased to announce the successful merger of The Blood Alliance (TBA) and OneBlood. Founded in 1942, TBA has served its communities for more than seven decades as a non-profit, community blood bank and has provided a vital service to the community by distributing blood products to all area hospitals, for patients who need lifesaving transfusions.
Currently, TBA serves approximately 30 hospitals and medical agencies. The organization’s home office is in Deerwood Park which also houses one of 10 operating donor centers located throughout Northeast Florida. Blood donations are collected at centers in Orange Park, Mandarin, Jacksonville Beach, inside Mayo Clinic, on the Southside and in St. Augustine among others. TBA also has donor centers in St. Mary’s, GA and Beaufort, SC.
OneBlood, which was formed as the result of a merger of three blood banks in 2012, also has a rich history of its own. The combined entity will distribute over one million blood products annually, employ more than 2,400 people, and serve 210 hospitals across Florida, as well as parts of Georgia, Alabama and South Carolina. Don Doddridge, CEO of OneBlood said, “As a community blood bank, it is our responsibility to provide a safe, stable, and affordable supply of blood products when hospitals and patients require it. This merger helps to achieve all of these goals.” Integration of the two organizations is already underway and TBA will undergo a rebranding phase over the coming months to transition to the OneBlood brand.
Heritage Capital Group served as exclusive financial advisor and intermediary to The Blood Alliance’s board of directors. The transaction was led by Doug Kravet, Don Wiggins, and Howard Serkin. Doug Kravet said, “We were honored to have been chosen to advise the board and to assist them in completing this merger. The Blood Alliance and OneBlood have many shared values and the combined entity will be able to build on the legacy that The Blood Alliance has built over the past 70 years.”
Jim Sebesta, board chairman of the Blood Alliance commented, “The decision to pursue this transaction included many difficult decisions for our board. Heritage Capital Group provided sound insight and guidance throughout the process. We could not be happier with the result for our employees, hospitals, donors, and the communities that we serve.”
Heritage Capital Group provides a range of investment banking services, including buy-side and sell-side M&A advisory work, business valuations, litigation support, exit planning, value enhancement and strategic advisory services, including restructuring and reorganization consulting. Heritage Capital Group is a FINRA regulated broker-dealer and a founding member of M&A International Inc., which extends their capabilities on a global scale.