HST Pathways Acquires J.L. Morgan & Associates

Novo Holdings Makes Strategic Growth Investment in HST Pathways (Alongside Bain Capital and Nexxus Holdings)

June 5, 2026

Cloud & SaaS

HST Pathways, a provider of cloud-based software purpose-built for ambulatory surgery centers (ASCs), announced a strategic growth investment from Novo Holdings. Novo Holdings joins existing investors Bain Capital and Nexxus Holdings to support HST’s next phase of growth, including accelerating its AI and agentic product roadmap for ASC operations.

TSG Consumer Partners Acquires Majority Stake in Pathway Vet Alliance

May 20, 2023

Veterinary

TSG Consumer Partners has acquired a majority stake in Pathway Vet Alliance from investment funds managed by Morgan Stanley Capital Partners (MSCP); Pathway management will continue to lead the company and retain a significant minority interest. Pathway is a multi-site operator of more than 270 general practice, specialty and emergency veterinary hospitals and 86 THRIVE clinics in the United States, and also operates Veterinary Growth Partners, an MSO serving ~5,500 member hospitals.

HST Pathways Acquires Simplify ASC

April 29, 2022

Cloud & SaaS

HST Pathways, a Bain Capital company and provider of end-to-end software for ambulatory surgery centers, has acquired Simplify ASC, a Nashville-area software firm offering revenue cycle management and ASC management tools. The deal expands HST Pathways' ASC product suite and combines product development efforts to accelerate innovation and improve outcomes for ambulatory surgery center customers.

HST Pathways and Casetabs Merge; Bain Capital Tech Opportunities Leads Majority Investment

November 10, 2020

Cloud & SaaS

HST Pathways and Casetabs combined their businesses to create a unified, cloud-based software platform serving ambulatory surgery centers (ASCs). The transaction is backed by a majority investment from Bain Capital Tech Opportunities with a minority investment from Nexxus Holdings to accelerate product development, broaden capabilities, and expand market reach.

MultiPlan Corporation Acquires HST

November 9, 2020

Healthcare Services

MultiPlan Corporation (NYSE: MPLN) acquired HST, a healthcare technology company that enables value-based health benefit plan designs, for $140 million. The transaction closed on November 9, 2020 and expands MultiPlan's analytics and front-end engagement capabilities for payors and employer-sponsored plans.

TSG Consumer Partners Acquires Majority Stake in Pathway Vet Alliance

April 3, 2020

Healthcare Services

TSG Consumer Partners has acquired a majority stake in Pathway Vet Alliance from investment funds managed by Morgan Stanley Capital Partners. Pathway management will remain in place and retain a significant minority stake; TSG intends to leverage its consumer and branding expertise to scale Pathway's multi-site veterinary and MSO platform across the U.S.