Healthcare Services Growth Capital Investments in 2024

Acquisition Volume in Healthcare Services Growth Capital Investments in 2024 by Year

Last 5 years

Acquisition volume by year Annual acquisition counts for the last 5 years for Healthcare Services Growth Capital Investments in 2024. 106 2022 68 2023 82 2024 63 2025 ~65 est. 17 2026
Actual Full-year estimate
  • Buyer
    Flexpoint Ford
    Target
    Apollo Care

    Flexpoint Ford has made a minority growth equity investment in Apollo Care through Flexpoint Fund V. The capital will be used to accelerate Apollo Care's technology and commercial solutions—expanding its patient copay, hub solutions, data warehousing, and commercial analytics offerings; Flexpoint principals Jonathan Oka and Elliot Lauzen will join Apollo Care’s board.

  • Buyer
    Whistler Capital Partners
    Target
    GXP-Storage

    Whistler Capital Partners has made a strategic growth investment in GXP-Storage to accelerate the company's technology development and expansion of its regulated material management and biorepository services. GXP-Storage founder and CEO Jeff Johnson remains a significant shareholder; the capital will support capacity expansion at GXP's Middlesex, North Carolina campus and further development of the GXP-Guardian platform.

  • Buyer
    SRM Equity Partners
    Target
    Mid-Florida Endodontics

    SRM Equity Partners has entered a strategic partnership with Mid-Florida Endodontics (MFE), providing capital and operational support to accelerate MFE's regional expansion. The dentist-led MFE will retain significant ownership while leveraging SRM's programmatic M&A and operational expertise to add providers and new locations across the Southeast; the partnership became effective December 10, 2024.

  • Buyer
    Mubadala Investment Company, Norwest, HarbourVest
    Target
    Zelis

    Zelis, a Boston-based healthcare technology company, sold a minority stake to a group of investors led by Mubadala Investment Company and including Norwest and HarbourVest, with Parthenon and Bain Capital remaining the majority owners. The transaction closed November 26, 2024 and brings strategic capital and investor support to fuel Zelis's continued growth in healthcare payments and financial technology.

  • Buyer
    TA Associates
    Target
    Vee Healthtek

    TA Associates completed a strategic growth investment in Vee Healthtek to support the company's expansion of technology-enabled services for healthcare organizations. The partnership will help Vee Healthtek enhance its technology capabilities, expand offerings (organically and via M&A) across revenue cycle management, health information management, analytics, risk adjustment and claims management; financial terms were not disclosed.

  • Buyer
    H.I.G. Growth Partners
    Target
    Carebox

    H.I.G. Growth Partners completed a significant growth equity investment in Carebox to help scale the company’s AI-driven clinical trial matching platform, CareboxConnect. The capital will support product and commercial expansion to connect more patients and physicians with relevant clinical trials and deepen partnerships with life sciences firms and research organizations.

  • Buyer
    Periscope Equity
    Target
    Reservoir Communications Group
    Location
    District of Columbia, United States

    Chicago-based private equity firm Periscope Equity has entered an investment partnership with Reservoir Communications Group, a Washington, D.C.-based healthcare consultancy, to accelerate Reservoir's growth and scale. The partnership will support investments in technology, infrastructure, and staffing to expand Reservoir's public affairs, corporate communications, and market-readiness capabilities.

  • Buyer
    Kian Capital Partners, RF Investment Partners, Lakewood Healthcare Capital
    Target
    US VisionMed Partners
    Location
    United States

    Kian Capital Partners and RF Investment Partners have invested in and launched US VisionMed Partners, a nationwide management services organization (MSO) focused on medically specialized optometry practices. The investment was made alongside Lakewood Healthcare Capital and the practitioners leading each location; US VisionMed will pursue add-on acquisitions and organic expansion to build a platform delivering specialty optometric care and operational support.

  • Buyer
    Trive Capital, 808 Capital Partners
    Target
    Crunch Canada Holdings Inc.
    Location
    Ontario, Canada

    Trive Capital and 808 Capital Partners have invested in Crunch Canada Holdings Inc., the primary Crunch Fitness master franchisee in Canada headquartered in Cambridge, Ontario. The capital will support Crunch Canada’s club development and expansion plans across Ontario and Alberta and enable selective acquisitions to grow membership and footprint.

  • Buyer
    Eagle Merchant Partners
    Target
    AYA Medical Spa

    Atlanta-based private equity firm Eagle Merchant Partners has acquired a stake in AYA Medical Spa, a nine-unit medical spa headquartered in Atlanta. The investment is a platform/growth capital transaction intended to accelerate AYA's geographic expansion and support strategic acquisitions to scale the business.

  • Buyer
    ACON Investments
    Target
    Fitness Ventures, S.A.P.I. de C.V. (Commando)
    Location
    Mexico City, Mexico

    ACON Investments, a Washington, D.C.-based private equity firm, closed an investment in Fitness Ventures, S.A.P.I. de C.V. ("Commando"), a boutique fitness studio operator headquartered in Mexico City. The growth investment will support Commando's domestic and international expansion as the company scales its multi-studio, group-fitness and health-and-wellness offerings.

  • Buyer
    U.S. Physical Therapy, Inc.
    Target
    Unnamed management services organization (MSO) managing 50 outpatient physical therapy clinics
    Location
    United States

    U.S. Physical Therapy, Inc. closed the previously announced acquisition of a 50% equity interest in an unnamed management services organization that provides management and administrative services to 50 outpatient physical therapy clinics, the majority of which are in New York, with plans to expand further in New York and adjacent states. The managed clinics deliver physical, occupational and speech therapy in outpatient and in-home settings and the business generates approximately $64.0 million in annual revenue and approximately $12.0 million in annual EBITDA.

  • Buyer
    Patient Square Capital, The Carlyle Group
    Target
    CorroHealth

    CorroHealth, a Plano-based provider of clinically led revenue cycle management (RCM) and healthcare analytics, has signed definitive agreements for a strategic investment from Patient Square Capital. Current shareholders including Carlyle will remain investors, and Patient Square and Carlyle will share joint control as CorroHealth pursues further organic and inorganic growth.

  • Buyer
    PSG, GV (Google Ventures), Addition, Samsung Next, Dynamic Loop Capital, Bessemer Venture Partners, Tiger Global, Zach Weinberg, Nat Turner
    Target
    Nym

    Nym, a New York–based developer of an autonomous medical coding engine, raised $47 million in growth capital led by PSG with participation from GV (Google Ventures), Addition, Samsung Next, Dynamic Loop Capital and existing investors. The funding will accelerate expansion of Nym’s multi-specialty autonomous coding solution across new care areas and scale its AI-driven revenue cycle management offering for health systems, hospitals and physician groups.

  • Buyer
    LDC
    Target
    Bullen Healthcare
    Location
    Merseyside, United Kingdom

    LDC, the private equity investor affiliated with Lloyds Banking Group, has invested in Liverpool-based Bullen Healthcare to support the company's growth plans and secure its independence. The investment will back management, led by Paul Bullen, to scale clinical services, product innovation and home-delivery capabilities across the UK; Muzinich & Co provided debt financing and several advisers supported the deal.

  • Buyer
    5th Century Partners
    Target
    My Favorite Therapists

    5th Century Partners, a purpose-driven private investment firm, made a strategic growth investment in My Favorite Therapists, a Florida-based multi-center therapy provider for children with autism and developmental delays. The founders retain significant ownership and management control, and the capital will be used to strengthen operations, expand the team and open additional therapy centers across Florida.

  • Buyer
    Revelstoke Capital Partners
    Target
    MediQuant, LLC

    Revelstoke Capital Partners, a Denver-based healthcare private equity firm, announced a significant growth investment in MediQuant, a provider of cloud-based data archiving and interoperability solutions for hospitals and health systems. The investment (Revelstoke Fund III) will support expansion of MediQuant's DataArk platform and capabilities; terms were not disclosed.

  • Buyer
    Fulcrum Equity Partners
    Target
    Physician Services Group

    Fulcrum Equity Partners completed a growth equity investment from its Fund V in Physician Services Group (PSG), a Greenville, South Carolina-based provider of transitional and geriatric care for residents of skilled nursing and assisted living facilities. The capital will be used to strengthen PSG's management team, expand service offerings, and support new market expansion while leveraging PSG's high-touch model that has reduced 30-day rehospitalizations.

  • Buyer
    Falfurrias Management Partners
    Target
    Jumo Health

    Charlotte-based private equity firm Falfurrias Management Partners announced an equity investment in Jumo Health, a patient-centric clinical trial solutions and health-literacy company. The investment will support Jumo Health's product development, data-driven capabilities, and expansion of patient engagement to accelerate clinical trial enrollment and retention; Falfurrias will also appoint advisors and board members to Jumo's board.

  • Buyer
    Water Street Healthcare Partners
    Target
    MedSpeed

    Water Street Healthcare Partners has made an equity investment in MedSpeed, a national provider of same‑day logistics services for the health care sector. The partnership will provide capital and resources to expand MedSpeed's hub network, broaden service offerings for specimen, pharmaceutical and supply delivery, and accelerate growth into new customers and markets.

  • Buyer
    Lightyear Capital LLC
    Target
    CuraLinc Healthcare

    Lightyear Capital completed a strategic growth investment in CuraLinc Healthcare to support the company's next phase of growth. CuraLinc is a Chicago-based provider of employee assistance and workforce/student mental health programs serving roughly 9 million employees and students across more than 4,200 clients; terms were not disclosed.

  • Buyer
    HCAP Partners
    Target
    Aarista LLC

    HCAP Partners, a California-based private equity firm, has made a growth investment in Aarista LLC, a tech-enabled healthcare services provider focused on post-acute care. The capital will support Aarista's technology development, growth initiatives, and enable strategic acquisitions to expand its impact across long-term care, skilled nursing, and assisted living markets.

  • Buyer
    Berkshire Partners, Leonard Green & Partners, Linden Capital Partners
    Target
    Vital Care

    Vital Care, a Brentwood, Tennessee-based franchisor of infusion therapy pharmacies with more than 160 locations, received a strategic investment from Berkshire Partners and Leonard Green & Partners alongside existing investor Linden Capital Partners. The capital will support franchisee reinvestment, operational enhancements, and continued expansion to increase access to infusion therapy across the U.S.; financial terms were not disclosed.

  • Buyer
    Integrity Growth Partners, Topmark Partners
    Target
    CoachCare

    CoachCare, a New York-based remote patient monitoring (RPM) and virtual care management company, raised a $48 million growth investment led by Integrity Growth Partners with participation from Topmark Partners. The capital will be used to accelerate product, commercial and M&A-driven growth while keeping CoachCare founder-led.

  • Buyer
    Silver Economy Fund (Quadrivio Group), Brexia Med S.r.l.
    Target
    CareHub
    Location
    Lombardy, Italy

    The Silver Economy Fund, the private equity vehicle of Quadrivio Group, has invested in CareHub to create a national outpatient diagnostics and proximity-care platform in Italy. The fund will support Brexia Med S.r.l. as an investor partner to execute a buy-&-build "Hub & Spoke" model using AI-enabled screening tools, with a target of building a group with €100 million in revenue.

  • Buyer
    NorthEdge
    Target
    Latus Group
    Location
    United Kingdom

    NorthEdge has made a growth investment in Latus Group, a Hull-based occupational health service provider, to accelerate organic growth and support a strategic M&A programme. The funding will be used to invest in people, technology (including Latus's Yodha platform), commercial capabilities and to execute add-on acquisitions to expand service lines and geography.

  • Buyer
    Beringea U.S.
    Target
    Sovato

    Beringea U.S. has made an initial growth capital investment in Sovato, a Santa Barbara–based healthcare technology company developing a platform to enable remote robotic-assisted surgery. The funding supports Sovato as it validates its Sovato Platform through preclinical demonstrations and prepares to scale commercialization and adoption by healthcare providers.

  • Buyer
    Peloton Capital Management
    Target
    Lakefield Veterinary Group
    Seller
    Desmarais family

    Peloton Capital Management, a Toronto-based private investment firm, has made a strategic minority investment in Lakefield Veterinary Group to support the company's disciplined M&A strategy and next phase of growth. Lakefield, a family-owned multi-site veterinary hospital operator with over 70 locations, will remain majority-owned by the Desmarais family and will use the partnership to expand its regional footprint and service offerings.

  • Buyer
    Exponent
    Target
    Kingsbridge Healthcare Group
    Location
    Northern Ireland, United Kingdom

    Exponent, a European private equity firm, has agreed to invest in Kingsbridge Healthcare Group (KHG), a private healthcare provider operating hospitals and medical centres across Northern Ireland and the Republic of Ireland. The investment will fund expansion of KHG's capabilities, facilities and services while co-founders Dr. Suresh Tharma and Ashok Songra remain significant shareholders and management remains in place.

  • Buyer
    Cressey & Company LP, .406 Ventures, Echo Ventures, Kindred Ventures, Optum Ventures
    Target
    Heartbeat Health, Inc.

    Cressey & Company has closed a significant growth investment in Heartbeat Health, with existing investors including .406 Ventures, Echo Ventures, Kindred Ventures and Optum Ventures participating. The capital will help Heartbeat expand its virtual-first cardiovascular care services, enhance clinical capabilities, and increase access to patients across the United States.

  • Buyer
    Parthenon Capital
    Target
    Medical Review Institute of America
    Seller
    Summit Partners

    Parthenon Capital has made a strategic growth investment in Medical Review Institute of America (MRIoA), a Salt Lake City–based provider of utilization management and clinical review solutions for payers. Summit Partners and MRIoA management will retain significant positions following the transaction; financial terms were not disclosed. Mizuho (and affiliate Greenhill & Co.) served as MRIoA's financial advisor and Kirkland & Ellis advised Parthenon.

  • Buyer
    The Rise Fund (TPG)
    Target
    Foodsmart

    The Rise Fund, the multi-sector impact investing strategy of TPG, has signed definitive documentation to lead an investment of over $200 million in Foodsmart, a U.S. telenutrition and food benefits management platform. The deal terms were not disclosed and is expected to close in July 2024, subject to customary closing conditions.

  • Buyer
    Trive Capital, 808 Capital Partners, JF Fitness of North America
    Target
    JF Fitness of North America, Team Roldan
    Seller
    Team Roldan

    Dallas-based private equity firm Trive Capital and independent sponsor 808 Capital Partners have made an investment in JF Fitness of North America, a Crunch Fitness franchisee headquartered in Richmond, Virginia. In connection with the investment, JF Fitness acquired Team Roldan, adding eight gyms and bringing the combined chain to 24 locations; the capital will support further club openings and selective acquisitions in the Southeastern U.S.

  • Buyer
    FFL Partners, FFL Capital Partners
    Target
    Apex Infusion

    FFL Partners has completed an investment in Apex Infusion, a Signal Hill, California-based provider of ambulatory infusion therapy services that operates 11 locations in California. Financial terms were not disclosed; FFL said the capital will support geographic expansion through de novo locations and strategic acquisitions to build a diversified specialty infusion platform.

  • Buyer
    H.I.G. Growth Partners
    Target
    Mobile Health Consumer, Inc.

    H.I.G. Growth Partners, the growth capital affiliate of H.I.G. Capital, has completed the acquisition of Mobile Health Consumer, Inc., an end-to-end digital health, wellness, and virtual care SaaS platform. Mobile Health serves more than 4.5 million lives and 90,000+ customers; H.I.G. Growth will partner with management to scale the platform, expand capabilities, and accelerate adoption through channel partners and direct-to-employer deployments.

  • Buyer
    TPG (TPG Growth)
    Target
    K2 Medical Research

    TPG (TPG Growth) has made a strategic growth investment in K2 Medical Research to partner with management and scale K2’s integrated clinical trial site platform. K2, headquartered in the Orlando/Maitland, Florida area, operates several de novo sites focused on CNS and other complex therapeutic-area trials and has participated in more than 150 studies for over 35 pharma and biotech sponsors; terms were not disclosed.

  • Buyer
    Leonard Green & Partners, Francisco Partners
    Target
    RedSail Technologies

    RedSail Technologies, a pharmacy technology and solutions provider, announced a strategic growth investment from Leonard Green & Partners (LGP). Francisco Partners (FP)—which created RedSail in 2020 via divisional carve-outs—will also reinvest alongside management, with the transaction subject to regulatory approvals.

  • Buyer
    Zenyth Partners
    Target
    LifeCare Home Health Family

    Zenyth Partners has made a minority growth investment in LifeCare Home Health Family, a home health provider headquartered in Irving, Texas, partnering with the company’s management team. LifeCare operates 10 affiliated branches across Texas, Florida and Nevada and plans to expand its geographic footprint and broaden service lines to build an integrated post-acute care platform.

  • Buyer
    Permira (via a company backed by Permira funds)
    Target
    PharmaCord LLC

    Permira (via a company backed by Permira funds) has signed a definitive agreement to make a substantial growth investment in PharmaCord, a Jeffersonville, Indiana-based tech-enabled patient services provider for specialty pharmaceuticals. Founder and CEO Nitin Sahney and the management team will remain significant investors and operators; terms were not disclosed and the deal is expected to close by Q4 2024.

  • Buyer
    Red Iron Group
    Target
    100% Chiropractic

    Red Iron Group, a Menlo Park-based private investment firm, made a significant growth investment in 100% Chiropractic to provide financial, operational, and strategic support for nationwide expansion. The founders and current management remain significant shareholders as the firm plans to scale the franchised clinic network, invest in technology and analytics, and expand patient access across the health and wellness market.

  • Buyer
    TA Associates, BV Investment Partners
    Target
    Solarity

    Solarity, a St. Louis-based provider of automated clinical data processing software for hospitals and physician practices, received a strategic growth investment from TA Associates. Existing private equity partner BV Investment Partners and Solarity management rolled substantial ownership stakes; TA executives will join Solarity's board to support product and market expansion.

  • Buyer
    Water Street Healthcare Partners
    Target
    Hansen Hunter

    Water Street Healthcare Partners has made a strategic growth investment in Hansen Hunter to provide capital and resources to expand the firm's business office and technology services for post-acute care and senior living organizations. The partnership will support expansion of Hansen Hunter's reimbursement, clinical consulting, compliance, reporting, accounting, auditing and tax management services and help extend its national footprint.

  • Buyer
    KKR, Norwest Venture Partners
    Target
    Infinx Services Private Limited
    Location
    Maharashtra, India

    KKR (via a fund managed by the firm) has agreed to make a minority investment in Infinx Services Private Limited, an AI-driven healthcare revenue cycle management (RCM) provider based in Mumbai. Norwest Venture Partners, an existing investor, participated in the financing; proceeds will be used to accelerate growth, expand AI and analytics capabilities, broaden market reach in the U.S., and support bolt-on acquisitions.

  • Buyer
    InTandem Capital Partners, LLC
    Target
    Adams Clinical
    Seller
    Founders and management team of Adams Clinical

    InTandem Capital Partners, a healthcare-focused private equity firm, has partnered with the founders and management team of Adams Clinical, a Watertown, Massachusetts–based clinical trial site network focused on psychiatric and neurologic indications. The investment will support Adams Clinical’s growth and development of its site network and patient recruitment capabilities to better serve pharmaceutical sponsors and CROs.

  • Buyer
    Balance Point Capital Advisors, LLC, SG Homecare
    Target
    SG Homecare, Western Drug

    Balance Point Capital Advisors provided debt financing to SG Homecare to support SG's acquisition of Western Drug, retire existing debt and fund working capital. SG Homecare (a portfolio company of Sverica Capital) combines its 16 California locations with Western's nine locations to strengthen its position as a leading durable medical equipment (DME) and medical supplies provider in California.

  • Buyer
    ChrysCapital
    Target
    Centre for Sight
    Seller
    Mahindra Holdings Limited
    Location
    Delhi, India

    ChrysCapital is investing up to $100 million in New Delhi-based Centre for Sight in a mix of primary infusion and a secondary purchase of the entire stake held by Mahindra Holdings Limited, giving ChrysCapital a significant minority position. The capital will support CFS’s accelerated expansion across Tier 1 and Tier 2 Indian cities and enable Mahindra Holdings to exit its investment.

  • Buyer
    Quadria Capital
    Target
    NephroPlus
    Seller
    Investcorp, Bessemer Venture Partners, IFC, IIFL Private Equity
    Location
    Telangana, India

    Quadria Capital led a $102 million funding round in NephroPlus that combines primary capital and a secondary purchase of stakes from existing investors, including Investcorp, Bessemer Venture Partners, IFC and IIFL Private Equity. Investcorp retains a significant minority stake; the new capital will be used to fund organic growth in India and further international expansion of NephroPlus, Asia's largest dialysis service network headquartered in Hyderabad.

  • Buyer
    APAC HR Tech Pty Ltd, BPEA Fund VIII
    Target
    Fitness Passport
    Seller
    The Growth Fund, Founders and management team
    Location
    New South Wales, Australia

    BPEA Fund VIII has capitalised APAC HR Tech Pty Ltd — an APAC‑focused HR technology investment vehicle — which has made an initial growth investment in Fitness Passport, supporting the management team, founders and existing shareholder The Growth Fund. The investment is intended to help build an interconnected HR tech and workplace wellbeing offering across the Asia‑Pacific region.

  • Buyer
    Kain Capital LLC
    Target
    Essen Health Care

    Kain Capital LLC has made a growth investment in Essen Health Care, the largest independent healthcare provider in the Bronx, to fund new clinics and expand access to care. Kain will deploy its Kain Analytics team to support Essen's transition to value-based care and to scale services such as House Calls for underserved Bronx residents.

  • Buyer
    Shore Capital Partners
    Target
    PRO-spectus

    Shore Capital Partners has completed a partnership with PRO-spectus, a Huntington Beach, California-based market access and patient support services firm. Shore will support PRO-spectus' next phase of growth through investments in team, technology, and capabilities while the company's founder Charmie Chirgwin and leadership team remain in place.

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