Healthcare Services Recapitalizations in 2021
Acquisition Volume in Healthcare Services Recapitalizations in 2021 by Year
Last 5 years
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December 22, 2021
- Buyer
- NewSpring Healthcare
- Target
- Verisma
- Seller
- NewSpring (existing investor), Blue Heron, Other legacy investors and limited partners
- Industry
- Healthcare Services
- Location
- Georgia, United States
- Type
- Recapitalization
NewSpring Healthcare led a GP-led secondary recapitalization of Verisma on December 22, 2021, providing liquidity to existing investors (including Blue Heron) and admitting new investors via a continuation vehicle. The transaction injects growth capital to accelerate Verisma's healthcare disclosure management technology and platform while Verisma's management team and board remain largely in place.
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December 20, 2021
- Buyer
- Cinven, Cobepa S.A.
- Target
- BioAgilytix
- Seller
- GHO Capital Partners (GHO Capital)
- Industry
- Healthcare Services
- Location
- North Carolina, United States
- Type
- Recapitalization
International private equity firm Cinven has agreed to acquire a majority stake in BioAgilytix through a recapitalization, with current investor Cobepa remaining a significant minority investor. GHO Capital has realised its investment and will exit; the transaction will provide funding to support BioAgilytix’s international expansion, capacity and capability investments, and buy-and-build strategy in large-molecule bioanalytical services. BioAgilytix is headquartered in Durham, North Carolina and employs about 870 staff across the United States, Europe and Australia.
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December 16, 2021
- Buyer
- Interlang, Inc. d/b/a Montgomery DME, Monument MicroCap Partners, LLC
- Target
- Premier Medical Equipment & Supply
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Recapitalization
On December 16, 2021, Interlang, Inc. d/b/a Montgomery DME (a portfolio company of Monument MicroCap Partners) recapitalized Premier Medical Equipment & Supply. Premier, based in Colton, California, provides durable medical and home medical equipment rentals to hospice and home health providers in San Bernardino County and other parts of Southern California; the transaction expands MDME's geographic footprint and resources.
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- Buyer
- Seaside Equity Partners
- Target
- Cascade Healthcare Services
- Seller
- Evolution Capital Partners
- Industry
- Healthcare Services
- Location
- Washington, United States
- Type
- Recapitalization
Seaside Equity Partners completed a majority recapitalization of Cascade Healthcare Services in December 2021, acquiring the company from majority owner Evolution Capital Partners. Cascade, headquartered in Seattle, is a technology-enabled provider of certification training and continuing education to healthcare professionals across the Western U.S.; Seaside plans to invest in the platform's technology and pursue complementary service and content acquisitions to drive growth.
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December 1, 2021
- Buyer
- Pine Tree Equity IV, LP (Pine Tree Equity)
- Target
- Summit Health Pharmacy, LLC
- Seller
- Existing management (partnered with Pine Tree Equity)
- Industry
- Healthcare Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Pine Tree Equity IV, LP recapitalized Summit Health Pharmacy, LLC in December 2021, partnering with the existing management team to support the company's growth. Summit, headquartered in Brookhaven, Pennsylvania and founded in 1995, is a specialty compounding pharmacy focused on rare pediatric metabolic medications; the recapitalization is intended to accelerate geographic expansion and enable complementary add-on acquisitions.
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November 30, 2021
- Buyer
- Kohlberg & Company
- Target
- Trinity Life Sciences
- Seller
- Parthenon Capital
- Industry
- Healthcare Services
- Location
- Massachusetts, United States
- Type
- Recapitalization
Kohlberg & Company will recapitalize Trinity Life Sciences, replacing Parthenon Capital as the company’s capital partner. The transaction provides Trinity with new growth capital to support global expansion, technology and data-driven capability investments while Trinity’s management team, led by CEO David Fitzhenry, will remain in place.
-
November 22, 2021
- Buyer
- WindRose Health Investors, LLC
- Target
- StateServ Medical
- Seller
- Blue Wolf Capital Partners LLC
- Industry
- Healthcare Services
- Location
- Arizona, United States
- Type
- Recapitalization
WindRose Health Investors completed a recapitalization of StateServ Medical, partnering with the company’s management to provide growth capital and support national expansion. Blue Wolf Capital Partners sold its stake in StateServ following its investment and transformation of the business since 2017; terms were not disclosed.
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November 1, 2021
- Buyer
- GI Partners, TA Associates
- Target
- Rectangle Health
- Industry
- Healthcare Services
- Location
- New York, United States
- Type
- Recapitalization
GI Partners has completed a recapitalization investment in Rectangle Health alongside existing investor TA Associates. The capital will support Rectangle Health's growth initiatives, product development and M&A strategy as the healthcare payments and patient engagement platform scales its business serving medical, dental and specialty practices.
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November 1, 2021
- Buyer
- Martis Capital, NaviMed Capital, Lighthouse management team
- Target
- Lighthouse Lab Services
- Industry
- Healthcare Services
- Location
- North Carolina, United States
- Type
- Recapitalization
Martis Capital has made a majority growth recapitalization investment in Lighthouse Lab Services, alongside existing investor NaviMed Capital and the company's management team. Lighthouse, headquartered in Charlotte, North Carolina, provides end-to-end lab build-out, management, staffing, and consulting services to clinical laboratories across the United States; financial terms were not disclosed.
-
October 29, 2021
- Buyer
- Mountain Crest Acquisition Corp II, Farallon Capital Management, RS Investments, Sectoral Asset Management, Monashee Investment Management
- Target
- Better Therapeutics, Inc.
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Recapitalization
Mountain Crest Acquisition Corp II completed a business combination with Better Therapeutics, taking the prescription digital therapeutics company public on Nasdaq under the ticker BTTX. The transaction generated approximately $70 million in gross proceeds (including a PIPE led by Farallon Capital Management, RS Investments, Sectoral Asset Management and Monashee Investment Management) and included a contingent credit facility from Hercules Capital to fund clinical development and regulatory efforts for Better Therapeutics' lead product, BT-001.
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October 28, 2021
- Buyer
- FINVASIA
- Target
- Gini Health
- Seller
- TechStars, Rangle, Uken, Other prior investors
- Industry
- Healthcare Services
- Location
- Ontario, Canada
- Type
- Recapitalization
FINVASIA has made an investment in Canada-based digital health company Gini Health, with previous investors exiting and FINVASIA and founder Gurjot Narwal becoming the company’s key stakeholders. The deal positions FINVASIA to expand into preventive and personalized healthcare services while providing Gini Health with capital, operational resources and platform support to accelerate product and market growth.
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- Buyer
- Flourish Research, NMS Capital
- Target
- Excel Medical Clinical Trials, LLC
- Industry
- Healthcare Services
- Location
- Florida, United States
- Type
- Recapitalization
NMS Capital portfolio company Flourish Research partnered with Excel Medical Clinical Trials in a recapitalization. The Boca Raton, Florida-based clinical research site, founded by Dr. Seth Baum and focused on cardiology indications, will join Flourish's site network to expand the platform's geographic footprint and therapeutic capabilities; terms were not disclosed and management will remain in place.
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October 7, 2021
- Buyer
- H.I.G. Capital
- Target
- Health Network One
- Industry
- Healthcare Services
- Location
- Florida, United States
- Type
- Recapitalization
H.I.G. Capital completed a recapitalization of Health Network One, a Ft. Lauderdale-based provider of specialty benefit management and provider network services for health insurers. The investment will support platform investment, capability enhancement, and accelerated growth organically and through M&A.
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- Buyer
- Linden Capital Partners
- Target
- BioIVT
- Seller
- Arsenal Capital Partners, BioIVT management team
- Industry
- Healthcare Services
- Location
- New York, United States
- Type
- Recapitalization
Linden Capital Partners has completed a majority recapitalization of BioIVT, a Westbury, New York-based provider of mission-critical biological specimens and value-added services, alongside continuing investor Arsenal Capital Partners and BioIVT management. Financial terms were not disclosed; Linden will support BioIVT’s plans to accelerate organic growth and pursue acquisitions, with debt financing provided by funds managed by Ares Management’s Credit Group and Golub Capital.
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October 4, 2021
- Buyer
- Parthenon Capital, Blue Venture Fund
- Target
- Smart Data Solutions
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Recapitalization
Parthenon Capital completed a recapitalization of Smart Data Solutions (SDS), a provider of payer-focused claims automation, workflow and data management solutions. The Blue Venture Fund, representing 35 Blue Cross Blue Shield plans, also invested to support SDS's growth, product innovation and strategic acquisitions; terms were not disclosed.
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September 8, 2021
- Buyer
- Mastern Partners
- Target
- Preedlife
- Seller
- VIG Partners
- Industry
- Healthcare Services
- Location
- Seoul, South Korea
- Type
- Recapitalization
Mastern Partners, the private equity unit of Mastern Investment Management, has purchased a 10% stake in South Korea's largest funeral services provider Preedlife for about 50 billion won. The minority stake sale to Mastern, together with a recently completed 150 billion won recapitalization, will help diversify Preedlife's investment portfolio into alternative assets and allow VIG Partners to return capital to its limited partners.
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September 1, 2021
- Buyer
- GHO Capital Partners LLP
- Target
- ClearView Healthcare Partners
- Seller
- RLH Equity Partners, ClearView management (founding partners)
- Industry
- Healthcare Services
- Location
- Massachusetts, United States
- Type
- Recapitalization
GHO Capital Partners LLP has acquired a majority ownership position in ClearView Healthcare Partners in a majority recapitalisation from RLH Equity Partners and ClearView management. The investment will support ClearView’s international expansion (particularly into Europe) and the broadening of its life-sciences consulting capabilities, including data analytics and pricing & market access services.
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August 26, 2021
- Buyer
- Webster Equity Partners
- Target
- Reproductive Gynecology & Infertility (RGI)
- Seller
- RGI legacy/physician shareholders (including David M. Nash, MD; Priya B. Maseelall, MD; Akas Jain, MD)
- Industry
- Healthcare Services
- Location
- Ohio, United States
- Type
- Recapitalization
Webster Equity Partners completed a majority recapitalization of Reproductive Gynecology & Infertility (RGI), a leading Ohio-based fertility and reproductive medicine practice. The transaction provides liquidity to RGI’s physician shareholders and positions the practice to pursue growth and expansion across its Ohio locations; terms were not disclosed.
-
August 25, 2021
- Buyer
- Vesey Street Capital Partners, LLC
- Target
- Safecor Health
- Industry
- Healthcare Services
- Location
- Ohio, United States
- Type
- Recapitalization
Funds managed by Vesey Street Capital Partners completed a recapitalization of Safecor Health, the national leader in pharmaceutical unit-dose packaging services for hospitals, health systems, manufacturers and digital pharmacy companies. The recapitalization (terms undisclosed) is intended to support Safecor's growth, investment in capabilities and expansion via add-on acquisitions; JP Morgan provided debt financing.
-
August 24, 2021
- Buyer
- Clearview Capital Fund IV, L.P. (Clearview Capital)
- Target
- LTC Consulting Services, LLC
- Industry
- Healthcare Services
- Location
- New Jersey, United States
- Type
- Recapitalization
Clearview Capital Fund IV, L.P. completed a recapitalization of LTC Consulting Services, LLC on August 9, 2021, partnering with the company's management team. LTC, a Lakewood, New Jersey–based provider of revenue cycle management, finance, accounts payable, credentialing and related office management services to skilled nursing facilities, will continue to be led by co-founders Michael Bauman and Mark Josefovic who retained significant equity.
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August 17, 2021
- Buyer
- WestView Capital Partners
- Target
- Framework Solutions
- Industry
- Healthcare Services
- Location
- Connecticut, United States
- Type
- Recapitalization
WestView Capital Partners, a Boston-based private equity firm, completed a growth recapitalization investment in Framework Solutions, a Danbury, Connecticut-based provider of outsourced MLR/PRC and regulatory support services for life sciences and pharmaceutical companies. The capital will support Frameworks' growth plans, expand capabilities and resources, and WestView partners Greg Thomas and Thomas Vo will join the company's board.
-
- Buyer
- NMS Capital, Flourish Research
- Target
- Clinical Trials of Texas
- Industry
- Healthcare Services
- Location
- Texas, United States
- Type
- Recapitalization
NMS Capital formed a new platform, Flourish Research, and completed a recapitalization of Clinical Trials of Texas (CTT) in partnership with founder Kay Scroggins and company management. The deal makes CTT the inaugural partner in a buy-and-build strategy to create a nationwide network of clinical research sites; CTT is headquartered in San Antonio, Texas, operates a 20,000+ sq. ft. facility and has conducted over 1,000 trials across more than 15 therapeutic areas.
-
- Buyer
- WestView Capital Partners
- Target
- Kymanox Corporation
- Industry
- Healthcare Services
- Location
- North Carolina, United States
- Type
- Recapitalization
Boston-based private equity firm WestView Capital Partners completed a growth recapitalization investment in Kymanox, a Morrisville, North Carolina life-science professional services company. WestView partners Jonathan Hunnicutt and Jeff Clark will join Kymanox's board as the company looks to expand the depth and breadth of its engineering, scientific, regulatory, and project management service offerings. The transaction included debt financing from Abacus Finance Group and was supported by legal advisors (Latham & Watkins for WestView; Connor Law Group for Kymanox).
-
July 29, 2021
- Buyer
- Great Hill Partners
- Target
- Labor First, LLC
- Industry
- Healthcare Services
- Location
- New Jersey, United States
- Type
- Recapitalization
Great Hill Partners completed a recapitalization of Labor First to support the company's growth and expand its group retiree Medicare benefit management capabilities. The investment will fund expansion of Labor First’s salesforce and broker channels, new product introductions, member advocacy and technology; Great Hill partners will join Labor First’s board. Financial terms were not disclosed.
-
- Buyer
- Carousel Capital, Cadrillion Capital
- Target
- Legacy Data Access, LLC
- Industry
- Healthcare Services
- Location
- North Carolina, United States
- Type
- Recapitalization
Carousel Capital has partnered with Cadrillion Capital to recapitalize Legacy Data Access, LLC, a Charlotte-based provider of healthcare data lifecycle management and legacy EHR/EMR archiving solutions. The recapitalization will provide capital to support LDA's growth and platform development, with Carousel funding the transaction from its sixth investment fund.
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July 7, 2021
- Buyer
- NMS Capital
- Target
- DirectMed Parts & Service, LLC
- Seller
- DirectMed management
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Recapitalization
NMS Capital has completed a recapitalization of DirectMed Parts & Service, a San Diego-based provider of medical imaging parts and repair services. The investment will support DirectMed's growth initiatives including acquisitions, expansion into new diagnostic imaging modalities, and enhancement of inventory, engineering and data-driven sales capabilities; terms were not disclosed.
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June 30, 2021
- Buyer
- H.I.G. Capital
- Target
- Health Network One
- Industry
- Healthcare Services
- Location
- Florida, United States
- Type
- Recapitalization
H.I.G. Capital completed a recapitalization of Health Network One (HNO), a Fort Lauderdale-based operator of single-specialty provider networks. Financial terms were not disclosed; the recapitalization is intended to provide HNO with additional resources to support growth and continued network expansion.
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June 23, 2021
- Buyer
- Cressey & Company LP, Lifeway Mobility Senior Management
- Target
- Lifeway Mobility
- Seller
- Rockwood Equity Partners
- Industry
- Healthcare Services
- Location
- Connecticut, United States
- Type
- Recapitalization
Cressey & Company LP has completed a recapitalization of Lifeway Mobility alongside Lifeway senior management, with Rockwood Equity Partners exiting the investment. Lifeway, a Hartford-based provider of home accessibility equipment and installation services, will use the new capital to accelerate organic growth, pursue add-on acquisitions and expand its regional footprint across the United States.
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June 8, 2021
- Buyer
- Periscope Equity
- Target
- MAS Medical Staffing LLC
- Seller
- Founder and management team (Ken Johnson)
- Industry
- Healthcare Services
- Location
- New Hampshire, United States
- Type
- Recapitalization
Periscope Equity completed a recapitalization of MAS Medical Staffing LLC, partnering with management as the first platform investment from Periscope Equity II. MAS is a tech-enabled medical staffing agency based in New Hampshire that serves long-term care, acute, and home-based care markets via its MAESTRA marketplace platform and will use the partnership to expand geographically, accelerate technology development, and pursue strategic acquisitions.
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- Buyer
- MSouth Equity Partners, Fulcrum Equity Partners
- Target
- Summit Spine & Joint Centers
- Industry
- Healthcare Services
- Location
- Georgia, United States
- Type
- Recapitalization
Atlanta-based private equity firm MSouth Equity Partners completed the acquisition of Summit Spine & Joint Centers, a Lawrenceville, Georgia operator of ambulatory surgery centers and pain management clinics. The transaction was executed in partnership with Summit's management team and existing sponsor Fulcrum Equity Partners, with financing provided by Audax Private Debt to support MSouth's investment and growth plans across the Southeast.
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May 19, 2021
- Buyer
- The Vistria Group, LHC Group, Amedisys, Encompass Health
- Target
- Medalogix, Muse Healthcare
- Industry
- Healthcare Services
- Location
- Tennessee, United States
- Type
- Recapitalization
The Vistria Group led a recapitalization and growth investment in Medalogix and Muse Healthcare, consolidating the two data-science and machine-learning businesses under the Medalogix brand to expand clinical decision‑support capabilities for home health, palliative and hospice providers. Minority equity investors in the transaction include LHC Group, Amedisys Home Health and Hospice, and Encompass Health, which will help accelerate adoption across a large nationwide provider footprint.
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- Buyer
- Vistria Fund IV, Apollo Impact Mission (Apollo Global Management)
- Target
- Supplemental Health Care
- Seller
- Vistria Fund, LP (Vistria Fund I), The Vistria Group
- Industry
- Healthcare Services
- Location
- Utah, United States
- Type
- Recapitalization
Vistria Fund IV and Apollo Impact Mission (Apollo Global's impact fund) will become equal owners of Supplemental Health Care as The Vistria Group liquidates its prior Fund I holding. The recapitalization creates a strategic partnership to accelerate growth of Supplemental Health Care, a leading healthcare staffing and workforce solutions provider that manages roughly 4,000 clinicians on assignment daily.
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- Buyer
- Nordic Capital
- Target
- United Veterinary Care
- Seller
- Atlantic Street Capital
- Industry
- Healthcare Services
- Location
- Florida, United States
- Type
- Recapitalization
Nordic Capital has agreed to invest in United Veterinary Care (UVC), acquiring the shareholdings controlled by Atlantic Street Capital and joining UVC's veterinary owner-practitioners as a major shareholder. UVC is a Palm Beach Gardens, Florida–based multi-location veterinary group operating more than 60 hospitals across 13 U.S. states with over 1,200 employees; the transaction supports the company's continued organic and acquisitive growth.
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April 23, 2021
- Buyer
- Healthcare Outcomes Performance Company (HOPCo), Audax Private Equity, Linden Capital Partners, Frazier Healthcare Partners
- Target
- Spine Nevada
- Industry
- Healthcare Services
- Location
- Nevada, United States
- Type
- Recapitalization
Healthcare Outcomes Performance Company (HOPCo), backed by private equity investors Audax Private Equity, Linden Capital Partners and Frazier Healthcare Partners, completed a recapitalization partnership with Spine Nevada. The deal, which closed April 23, 2021, positions Spine Nevada as the HOPCo Nevada care platform to expand musculoskeletal, orthopedic, sports medicine, spine, vein and related services across Nevada.
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- Buyer
- WindRose Health Investors
- Target
- Bluestone Physician Services
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Recapitalization
WindRose Health Investors completed an equity recapitalization of Bluestone Physician Services to provide growth capital and support expansion. Bluestone — a provider of on-site primary care, care coordination, and behavioral health services for high-risk, geriatric and disabled patients — will continue to be led by founder Dr. Todd Stivland, who and the executive team retain a significant minority stake.
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- Buyer
- WindRose Health Investors, LLC
- Target
- Veristat Group Inc.
- Seller
- Variance Development Partners
- Industry
- Healthcare Services
- Location
- Massachusetts, United States
- Type
- Recapitalization
WindRose Health Investors completed an equity recapitalization of Veristat Group Inc., a global clinical research organization, with Veristat management retaining a significant minority stake. The investment will provide capital and strategic resources to support Veristat's growth and expansion across clinical development, regulatory affairs, biostatistics, data management and pharmacovigilance; terms were not disclosed.
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March 17, 2021
- Buyer
- Clayton, Dubilier & Rice (CD&R), Merck Global Health Innovation Fund (Merck GHI), McKesson Ventures
- Target
- M2GEN
- Industry
- Healthcare Services
- Location
- Florida, United States
- Type
- Recapitalization
Clayton, Dubilier & Rice (CD&R) led a recapitalization of oncology data and informatics company M2GEN, with strategic investments from Merck Global Health Innovation Fund and McKesson Ventures. The transaction — which closed with terms undisclosed — positions CD&R as the largest shareholder and will fund growth of M2GEN's linked clinical and genomic data assets and expanded technology and informatics capabilities.
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- Buyer
- Wellspring Capital Management
- Target
- HealthPRO Heritage
- Seller
- BPOC
- Industry
- Healthcare Services
- Location
- Maryland, United States
- Type
- Recapitalization
Wellspring Capital Management has closed a recapitalization of HealthPRO Heritage, a Hunt Valley, Maryland-based provider of contract therapy and clinical services to post-acute and home health providers. The transaction was a purchase from BPOC; HealthPRO Heritage management retains a significant equity stake and Wellspring plans to support the company's next phase of growth and add-on activity.
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March 1, 2021
- Buyer
- Pine Tree Equity IV, LP (Pine Tree Equity)
- Target
- Madame Rx, LLC d/b/a Chemistry Rx
- Industry
- Healthcare Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Pine Tree Equity IV, LP recapitalized Madame Rx, LLC d/b/a Chemistry Rx in March 2021, partnering with the founder and management team. The recapitalization will support Chemistry Rx’s geographic expansion and enable pursuit of complementary add-on acquisitions to grow the compounding and specialty pharmacy platform.
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February 10, 2021
- Buyer
- Cimarron Healthcare Capital
- Target
- CareAccess MSO
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Recapitalization
Cimarron Healthcare Capital has completed a recapitalization of CareAccess MSO in partnership with the company's management team to provide capital for the business's next phase of growth. CareAccess is a Los Angeles County–based management services organization that helps independent physician groups establish and manage value-based risk contracts with Medicare Advantage plans; financial terms were not disclosed.
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- Buyer
- Latour Capital
- Target
- Funecap Groupe
- Seller
- Charterhouse Capital Partners LLP
- Industry
- Healthcare Services
- Location
- Île-de-France, France
- Type
- Recapitalization
Latour Capital has acquired a minority stake in Funecap Groupe from Charterhouse Capital Partners as a partial realisation of Charterhouse's investment. Charterhouse will retain an interest in Funecap and continue to support the company's next phase of growth alongside management and Latour Capital; Funecap operates a nationwide network of funeral agencies, funeral homes and crematoria in France.
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February 3, 2021
- Buyer
- SV Health Investors, LLC
- Target
- Health Payment Systems, Inc.
- Seller
- Caltius Equity Partners
- Industry
- Healthcare Services
- Location
- Wisconsin, United States
- Type
- Recapitalization
SV Health Investors has completed a recapitalization of Caltius Equity Partners' investment in Health Payment Systems (HPS). The investment will support HPS' expansion in the Upper Midwest and beyond and includes leadership additions with Tom Policelli named CEO and Tom Flynn joining HPS' board.
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- Buyer
- Bridgepoint Development Capital
- Target
- Prescient Healthcare Group
- Seller
- Baird Capital
- Industry
- Healthcare Services
- Location
- England, United Kingdom
- Type
- Recapitalization
Bridgepoint Development Capital led a recapitalization of Prescient Healthcare Group, a London-based product strategy consultancy serving the global biopharmaceutical industry; the transaction closed January 19, 2021. Baird Capital (the exiting majority investor) provided a full exit but reinvested as a minority shareholder alongside Bridgepoint to support Prescient's next phase of growth and international expansion.
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January 19, 2021
- Buyer
- Advent International, Great Hill Partners
- Target
- RxBenefits
- Industry
- Healthcare Services
- Location
- Alabama, United States
- Type
- Recapitalization
Advent International has completed a recapitalization of RxBenefits alongside existing investor Great Hill Partners, valuing the technology-enabled pharmacy benefits optimizer at approximately $1.1 billion. Advent and Great Hill now each hold equal stakes alongside a significant management investment; the financing will fund expansion of the salesforce, broker channels and technology and support continued organic growth and M&A.
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January 13, 2021
- Buyer
- Brentwood Associates
- Target
- MedBridge
- Seller
- LLR Partners, Senior management / existing shareholders
- Industry
- Healthcare Services
- Location
- Washington, United States
- Type
- Recapitalization
Brentwood Associates has recapitalized MedBridge, a SaaS provider of patient engagement and clinical education solutions, with LLR Partners and senior management retaining significant minority stakes. The investment will fund continued organic growth, support future acquisitions, and enable expansion into additional healthcare specialties and care settings.
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January 12, 2021
- Buyer
- Clearview Capital Fund IV, L.P.
- Target
- MBI Industrial Medicine, Inc.
- Industry
- Healthcare Services
- Location
- Arizona, United States
- Type
- Recapitalization
Clearview Capital Fund IV, L.P. recapitalized MBI Industrial Medicine, a Phoenix-based provider of occupational injury care, in a transaction that closed December 18, 2020. The investment — completed in partnership with MBI management — provides capital to support the company's organic growth, acquisition strategy and geographic expansion beyond Arizona.
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January 12, 2021
- Buyer
- LongueVue Capital, Adrian Otte
- Target
- KPS Life, LLC
- Industry
- Healthcare Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
LongueVue Capital partnered with Life Sciences Operating Partner Adrian Otte to provide a structured debt and preferred equity recapitalization and growth investment in KPS Life, LLC, the Malvern, Pennsylvania-based functional service provider (FSP) for clinical trials. The investment is KPS's first institutional capital and will support the company's global expansion and capability development in clinical monitoring, data management, eTMF, and medical writing.
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January 6, 2021
- Buyer
- Main Street Capital Corporation
- Target
- Northeast Nebraska Vet Services, PC, Heritage Animal Health, LLC
- Seller
- Existing owners and senior management
- Industry
- Healthcare Services
- Location
- Nebraska, United States
- Type
- Recapitalization
Main Street Capital Corporation provided $17.0 million of debt and a minority equity investment to facilitate a minority recapitalization of Northeast Nebraska Vet Services, PC (NVS) and Heritage Animal Health, supporting the companies’ growth and acquisition strategy. Bridgepoint Investment Banking acted as exclusive financial advisor to the companies on the transaction.
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