Tracked deals
83
83 tracked deals across 2024.
Tracked deals
83
83 tracked deals across 2024.
Buyer mix
PE-led
99 pe · 15 investor
Top trend
Volume peaked in 2021
113 tracked deals announced in 2021.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Trive Capital | 3 | Dallas-based private equity firm focusing on middle-marke... | PE |
| Whistler Capital Partners | 3 | Healthcare-focused private equity firm specializing in gr... | PE |
| 808 Capital Partners | 2 | Independent sponsor focused on consumer-focused sectors i... | Investor |
| Avesi Partners | 2 | Private equity firm focused on lower-middle market invest... | PE |
| Council Capital | 2 | Healthcare-focused private equity firm investing in lower... | PE |
| H.I.G. Growth Partners | 2 | Growth-stage, technology- and healthcare-focused investme... | PE |
| HCAP Partners | 2 | California-based private equity firm and impact investor ... | PE |
| Kain Capital LLC | 2 | Private equity firm focused on technology enablement of h... | PE |
| Leonard Green & Partners | 2 | Large private equity firm focused on investments in marke... | PE |
| TA Associates | 2 | Global private equity firm focused on growth investments ... | PE |
Last 9 years
Supporting Data
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
WindRose Health Investors completed a majority growth investment in SubjectWell, the patient-access marketplace that connects motivated patients to clinical trials and treatments. Terms were not disclosed; SubjectWell's management will remain in place and as active shareholders while WindRose provides growth capital to accelerate product development, machine learning and marketplace expansion.
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.
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