Healthcare Services Acquisitions in 2021

Cobepa S.A. has extended its partnership with BioAgilytix and entered into a recapitalization of the company in conjunction with private equity firm Cinven. Cobepa, which became BioAgilytix’s majority shareholder in 2018, will remain a significant investor as Cinven joins as a new shareholder.

Afterburn Holdings, a leading Orangetheory Fitness franchisee, acquired a Washington state area representative, including eighteen owned studios, thirteen sub-franchised studios, and area development rights for Washington. Brentwood Associates, Afterburn’s existing partner, teamed with Garnett Station Partners to finance the acquisition and support Afterburn’s continued expansion.

Alcami Corporation, a pharmaceutical and biotech contract development and manufacturing organization (CDMO), completed the acquisition of Masy Systems Inc. (Masy BioServices), a provider of cGMP biostorage and pharma support services. The deal adds complementary biostorage capacity and related validation/calibration services to Alcami’s offerings; financial terms were not disclosed.

Care Options for Kids (OCI Holdings, LLC d/b/a Care Options for Kids) acquired The Missing Peace Autism Therapy Center, LLC, effective October 1, 2021. The Missing Peace will partner with Care Options for Kids to coordinate pediatric therapy and Applied Behavior Analysis (ABA) autism services across Texas, with founders Beth Worman and Megan Haupert continuing to lead the business.

The Vistria Group sold its Fund II portfolio company FullBloom to American Securities LLC. American Securities will acquire 100% of FullBloom, a provider of special education and behavioral health solutions for children and families.

Empower Community Care ("Empower") acquired F.F.T. LLC ("FFT"), which provides training and support services for the Functional Family Therapy evidence-based intervention model. FFT, founded in 1998 and headquartered in Seattle, Washington, will partner with Empower to expand FFT’s reach while continuing to operate as an independent model. Empower’s existing investors include its management team and Northlane Capital Partners.

ImageFIRST Healthcare Laundry Specialists acquired the HLAC-accredited linen processing facility and private sector operations of Puget Sound Laundry Services, a division of Northwest Center Services. The deal expands ImageFIRST’s healthcare laundry footprint in the Pacific Northwest and adds to its network of HLAC-accredited plants; terms were not disclosed.

CellCarta announced the acquisition of Biogazelle, a Ghent, Belgium-based provider of genomic testing solutions, to strengthen CellCarta’s genomic capabilities and expand into digital PCR (dPCR) services. Biogazelle will become CellCarta’s Center of Excellence for complex genomic biomarker assay development, enhancing support for biopharma and biotech clients across discovery through clinical settings.

Paradigm announced that it has acquired HomeCare Connect, a specialty network focused on home health, durable medical equipment (DME), and related services for catastrophic and complex cases. The acquisition expands Paradigm’s specialty network and clinical solutions and extends its accountable specialty care management model into the home health market.

Emerald Textiles, a portfolio company of Pacific Avenue Capital Partners, acquired the West Coast assets of Angelica Corporation, a national healthcare linen service provider. The deal includes nine facilities and expands Emerald’s footprint into the Phoenix and Las Vegas markets while strengthening its presence in Northern and Southern California.

GenNx360 Capital Partners announced the sale of its portfolio company, CRS Temporary Housing, to Reverence Capital Partners. CRS provides tech-enabled relocation and temporary housing solutions for insurance policyholders on behalf of insurance carriers. Financial terms of the transaction were not disclosed.

The IMA Group (IMA) acquired Exemplar Research, Inc. (ERI), a community-based specialty clinical research clinic serving the North Central region of West Virginia. The acquisition expands IMA Clinical Research’s network and access to diverse patient populations for Phase II–IV clinical trials across multiple therapeutic areas. Financial terms were not disclosed and ERI will continue operating under its current name with existing leadership and staff.

CareSource, a nonprofit managed care organization, acquired The Columbus Organization, a provider of services for individuals with intellectual/developmental disabilities (I/DD). The Columbus Organization was sold by private equity owner HealthEdge Investment Partners, which had owned the company for approximately five years and supported growth through operational investments and multiple add-on acquisitions.

ADDvise Group AB entered into a share purchase agreement to acquire 100% of the shares of Southern Life Systems, Inc. (SLS), with closing occurring the same day. The total purchase price is approximately USD 11.0 million, consisting of an initial cash payment and potential earn-outs tied to performance targets in fiscal years 2022 and 2023. ADDvise financed the acquisition with its own funds and expects it to be accretive to earnings per share.

Physical Rehabilitation Network (PRN) acquired California-based Albany Physical Therapy, adding its outpatient physical therapy clinic in Albany, California. The deal expands PRN’s California presence to 59 clinics. PRN is a portfolio company of Gryphon Investors.

The Riverside Company has invested in Executive Home Care Franchising (Executive Care), a franchisor and provider of non-medical, in-home care services for seniors and individuals needing daily living support. Executive Care, founded in 2004 and headquartered in Hackensack, New Jersey, operates 13 franchise locations and Riverside expects to support growth through operating expertise and potential add-on acquisitions.

Help at Home, a Chicago-based provider of in-home care for seniors, acquired Ohio home health agency Prime Home Care, marking Help at Home’s first entry into Ohio. Prime Home Care provides skilled and non-skilled care across nine locations in Ohio, and deal terms were not disclosed. Help at Home is backed by Centerbridge Partners and Vistria Group.

MindCare Solutions Group, a Nashville-based telepsychiatry provider, announced the acquisition of Florida-based Virtual Impatient Psychiatry Physicians Behavioral Network ("VIPPBN"). The deal expands MindCare’s presence in central Florida and combines VIPPBN with MindCare’s previously acquired Tri County Telebehavioral Services in the Orlando market.

CareATC, an employer-sponsored healthcare provider, acquired direct primary care provider CareTeam to expand proactive and comprehensive care offerings for employers and employees across the United States. CareATC will retain the CareTeam brand as a middle-market solution and continue CareTeam’s leadership with Sam Jones as CEO and Scott Parks as President. The transaction closed on October 26, 2021.

Tjoapack, a Netherlands-based contract packaging organization serving the pharmaceutical industry, has acquired US-based Pharma Packaging Solutions (PPS) in Clinton, Tennessee. The deal expands Tjoapack’s footprint into the United States and strengthens its contract packaging and related supply chain services offering for pharmaceutical and medical device customers. The acquisition was funded by Ampersand Capital Partners, which invested in Tjoapack in 2020.

ICV Partners, LLC announced the sale of Outpatient Imaging Affiliates (OIA), an outpatient imaging platform that develops and operates joint-venture outpatient imaging centers with health systems. The Cranemere Group acquired OIA; OIA is headquartered in Nashville, Tennessee and operates 56 imaging centers across 18 markets.

Ridgemont Equity Partners announced the acquisition of Agape Care Group, a leading provider of hospice and palliative care services in the Southeast. Agape Care has a strong presence across South Carolina and Georgia and plans to expand further, including through hospice and palliative care acquisitions across the region. The Vistria Group was identified as Agape Care’s prior financial sponsor; financial terms were not disclosed.

Versant Diagnostics was formed through a partnership among Alliance Pathology Consultants, healthcare entrepreneurs Jim Billington and Brian Carr, and private equity firm Iron Path Capital to build a national, technology-enabled anatomic pathology practice. As part of the formation, Versant also added Chicago-based Addison Central Pathology, expanding its footprint and creating one of the largest independent physician-led pathology groups in the Midwest. Financial terms were not disclosed.

Laser MD Medspa acquired Young Medical Spa, expanding its footprint into Pennsylvania by adding four locations in the Bala Cynwyd, Center Valley, Lansdale, and Wilkes-Barre areas. The deal increases Laser MD Medspa’s total presence to 15 locations across the Northeastern and Mid-Atlantic United States and adds Young Medical Spa’s cosmetic and aesthetic treatment offerings to the platform.

Global Healthcare Exchange (GHX) acquired Chicago-based Explorer Surgical Corp., which provides a digital and remote case support platform connecting healthcare suppliers with provider teams. Explorer Surgical will operate as a wholly owned subsidiary of GHX, combining its procedure playbooks, telementoring, and performance tracking tools with GHX’s cloud-based supply chain network and data assets. Financial terms were not disclosed.

NMS Capital portfolio company Flourish Research partnered with management to complete the recapitalization of Excel Medical Clinical Trials, LLC, a cardiology-focused clinical research site. Excel will join Flourish’s growing clinical trial site network alongside Clinical Trials of Texas, with founder Dr. Seth Baum and the management team continuing to lead the business. Financial terms were not disclosed.

Wellspring Capital Management acquired Pentec Health Inc., a Philadelphia-based provider of patient-specific sterile compounding and specialty infusion therapies. The investment is intended to support Pentec Health’s continued leadership in the specialty infusion market and accelerate both organic growth and future M&A.

Pharos Capital Group, LLC acquired THEMA Health Services, a provider of hospice, skilled home health, and palliative care services across Arizona. THEMA founder Theresa Lungwitz will retain a minority stake and serve as Executive Chairperson; financial terms were not disclosed. Pharos intends to use THEMA as the foundation for a new hospice and home health platform with organic growth and targeted acquisitions.

St. Croix Hospice acquired three Missouri-based hospice and home care entities formerly owned by LifeCare Collective: HomeCare of Mid Missouri, Nurses & Company, and Transitions Hospice. The deal adds four new branch locations (Bolivar, Moberly, Nixa, and St. Peters), expanding St. Croix Hospice’s Missouri footprint to six offices.

Kepro has completed the acquisition of eQHealth Solutions, LLC. The deal expands Kepro's population health management and technology-enabled solution offerings, adding eQHealth’s cloud-based eQSuite and community-based eQCare capabilities to better serve priority populations.

1315 Capital acquired a majority interest in Homestead Smart Health Plans, an employer-focused healthcare cost-containment company providing reference-based pricing solutions. MoonSail Capital joined the investment to provide growth capital to help Homestead scale its proprietary technology platform and services, including third-party administration, reference-based pricing, and stop-loss insurance, to a national market.

Health Perspectives Group (HPG) closed a majority investment from 424 Capital in early August 2021. The investment is intended to support HPG’s continued growth and expansion of its patient engagement solutions for pharmaceutical and biotechnology companies. Eagle Private Capital, Plexus Capital, and Enterprise Bank participated alongside 424 Capital.

Kohlberg & Company, LLC acquired Ob Hospitalist Group (OBHG), a provider of obstetric hospitalist programs, from Gryphon Investors. OBHG’s management team will remain in place and retain a significant ownership stake as the company continues to expand its women’s health and hospital-based obstetric coverage services.

Vision Innovation Partners announced it has acquired See Clearly Vision, an eye care practice with locations in Tysons Corner and Arlington, Virginia. The deal expands Vision Innovation Partners’ footprint in the Washington, D.C. metro area and strengthens its Mid-Atlantic network of ophthalmology practices and ambulatory surgery centers. Vision Innovation Partners is backed by private equity firm Centre Partners.

Amulet Capital Partners, LP acquired Remedy Health Media, a digital health information platform serving patients, caregivers, and healthcare providers through a portfolio of trusted health websites. Remedy was acquired from Topspin Consumer Partners, and Amulet plans to support growth both organically and through strategic acquisitions. Financial terms were not disclosed.

Pharos Capital Group, LLC acquired Vantage Outsourcing, a cataract surgical services logistics support provider headquartered in Effingham, Illinois. Vantage’s co-founder and CEO Ann Deters and President Chris Swing will retain a minority stake as Pharos partners with industry veteran Bradley Hill to build a broader surgical support services platform through acquisitions and organic growth. Financial terms were not disclosed.

Sedgwick acquired Managed Care Advisors, Inc. (MCA), a Bethesda, Maryland-based government contracting firm providing workers’ compensation and specialty health plan products and services to the U.S. federal government. The deal expands Sedgwick’s public sector claims and risk management capabilities, with MCA operating as a wholly owned subsidiary of Sedgwick Public Sector.

Velocity Clinical Research acquired VitaLink Research and the National Research Institute (NRI) for an undisclosed amount. The acquisitions add 11 clinical trial sites to Velocity’s network, expanding its scale and therapeutic reach and making it the largest fully integrated site management organization globally.

Edifecs, Inc., a health information technology solutions company, has acquired Talix, an IT company providing risk and quality solutions for healthcare payers and providers. The combination expands Edifecs’ encounter management and risk adjustment offerings by integrating Talix’s NLP- and machine-learning-enabled risk adjustment coding, retrieval, and analytics capabilities.

Monte Nido & Affiliates completed its acquisition of Walden Behavioral Care, an eating disorder and psychiatric treatment provider headquartered in Waltham, Massachusetts. The deal expands Monte Nido & Affiliates’ national footprint and adds Walden as its fifth affiliate brand. Walden’s founder and CEO, Stuart Koman, will also take on the role of Chief Strategy Officer at Monte Nido & Affiliates.

Latticework Capital Management made a strategic investment in Healthcare Building Solutions (HBS). Headquartered in Langhorne, Pennsylvania, HBS provides project management, transition planning, facility activation, and medical equipment planning services for healthcare facility construction, renovation, and remodeling projects. The partnership is intended to support HBS’s continued growth and potential future acquisitions.

VIG Partners sold a 10% stake in Preedlife, a Seoul-based South Korean funeral service provider, to Mastern Partners for about 50 billion won (approximately $43 million). The transaction values Preedlife at roughly 500 billion won and is intended to help diversify Preedlife’s investment portfolio into alternative assets such as real estate and real assets.

Laser MD Medspa announced the acquisition of Luxe Beauty Lounge, a medical spa based in Peabody, Massachusetts. The transaction adds Luxe Beauty to the Laser MD Medspa platform as the company continues expanding its footprint in Massachusetts, alongside the opening of new de novo locations in Seekonk and Waltham.

Physical Rehabilitation Network (PRN) acquired 360 Physical Therapy (360 PT), which operates 19 outpatient physical therapy clinics across Arizona and Oklahoma. The deal expands PRN’s footprint in Arizona and marks its entry into Oklahoma, bringing PRN to 181 clinics across 16 states. PRN is a portfolio company of Gryphon Investors.

Provation, backed by Clearlake Capital Group, acquired the endoPRO endoscopy informatics and software portfolio from PENTAX Medical in a carve-out transaction (terms undisclosed). The deal expands Provation’s clinical productivity software offering, adding endoscopy image and information management and workflow/EHR integration capabilities; Provation also signed a sales agreement with Pentax Canada Inc. for Canadian distribution of endoPRO.

Alpaca Audiology acquired Hearing and Tinnitus Center Long Island, an audiology clinic located in Woodbury, New York. The target provides hearing evaluations and tinnitus and other sound sensitivity disorder management services. Financial terms of the transaction were not disclosed.

Reproductive Gynecology & Infertility (RGI), an Ohio-based provider of infertility and gynecological services, completed a majority recapitalization with Webster Equity Partners. Terms were not disclosed; RGI will continue operating its fertility and reproductive medicine practice across multiple locations in Ohio.

Eye Health America (EHA) announced the acquisition of Eye Centers of Florida (ECOF), a multi-location ophthalmology practice based in Fort Myers, Florida. The deal expands EHA’s presence in Southwest Florida and adds ECOF’s physicians, locations, and ambulatory surgery center capabilities to EHA’s regional network. Eye Health America was formed in 2018 through a partnership that includes LLR Partners.

Valet Living acquired NFinite Pursuit, an Austin, Texas-based on-site fitness and personal training provider serving multifamily communities and other organizations. NFinite Pursuit will be integrated into Torch Fitness by Valet Living, expanding Valet Living’s in-person, live virtual, and on-demand fitness and event amenities footprint across Texas and additional states.

Unified Women's Healthcare, backed by Altas Partners, Ares Management and Oak HC/FT, has acquired Women's Health USA (WHUSA), a provider of practice management and value-based care services for women's health practices. Sverica Capital Management, WHUSA’s majority shareholder, reinvested a portion of its proceeds into the combined company; financial terms were not disclosed. The combination creates a larger women’s healthcare practice management platform serving thousands of providers across the United States and North America.

Discovery Behavioral Health acquired the Memorial Hermann Prevention & Recovery Center (PaRC) and its network of outpatient locations from Memorial Hermann Health System. The Houston-area addiction treatment provider will continue operating under the PaRC name, with the transaction completed following customary closing conditions and regulatory review.

Unite Us announced the acquisition of Carrot Health to expand its nationwide platform integrating health and social care. Carrot Health’s large consumer and health dataset and predictive analytics models will be combined with Unite Us’ care coordination and payments capabilities to help organizations proactively identify needs, engage clients, and track outcomes across communities.

Pinnacle Dermatology, a portfolio company of Chicago Pacific Founders, acquired Dermatology Associates and Skin Surgery Center, a dermatology practice with eight locations across West Virginia and Maryland. The deal expands Pinnacle Dermatology’s footprint in the greater Washington, DC region and supports its strategy to build an integrated, multi-market dermatology platform.

The IMA Group (IMA) acquired MedPlus Disability Evaluations, a regional provider of Social Security Disability consultative examinations across the Southeast and Southwest United States. The deal expands IMA’s geographic coverage by adding operations in additional states and supports IMA’s strategy of growing organically and through strategic acquisitions. Financial terms were not disclosed, and MedPlus will continue operating under its current name with leadership and staff remaining in place.

Palladium Equity Partners, LLC acquired Health Connect America, Inc., a multi-state behavioral health services platform headquartered in Tennessee. The company was purchased from Harren Equity Partners, and terms of the transaction were not disclosed.

Surgical Notes announced the acquisition of Zulu Health, a revenue cycle management (RCM) provider focused on the ambulatory surgery center (ASC) market. Zulu Health, headquartered in Los Angeles, California, provides RCM outsourcing, consulting, coding and compliance, and accounts receivable follow-up services across the United States. Surgical Notes is a portfolio company of The Capstreet Group, and Zulu Health’s leadership team will join Surgical Notes in expanded operating roles.

FOX Rehabilitation acquired Taylored Rehab LLC, a provider of physical, occupational, and speech therapy services for patients in assisted living communities, group homes, and in-home settings across Wisconsin. The acquisition is expected to expand FOX’s clinician base and strengthen its ability to serve aging adults in Wisconsin using FOX’s proprietary technology and care model.

Eurofins Scientific has completed the acquisition of bioskin GmbH, a full-service dermatology-focused contract research organization (CRO) conducting clinical trials for drugs, medical devices, food supplements, and advanced cosmetics. The deal expands Eurofins’ dermatology clinical testing footprint and strengthens its cosmetics and personal care testing offering, including enhanced capabilities in Germany.

RV Health, a Red Ventures business, acquired Healthgrades.com from Mercury Healthcare. Following the sale, Mercury Healthcare will continue as a separate enterprise software, technology, and data analytics company focused on health systems, while Healthgrades.com’s team and operations remain primarily based in Denver and Atlanta.

Upstream Rehabilitation completed the acquisition of Results Physiotherapy, expanding Upstream to more than 1,000 owned and managed outpatient physical therapy clinics across 28 U.S. states. The deal is Upstream’s largest acquisition to date and further scales its national outpatient physical and occupational therapy platform, backed by Revelstoke Capital Partners.

National Seating & Mobility (NSM) acquired Eagle Accessibility Solutions & Equipment (EASE) of Sacramento to expand its home accessibility services footprint in California. The deal brings EASE’s installation and service capabilities for ramps, stairlifts, ceiling lifts and related bathroom accessibility solutions into NSM, with founder Steve Weaver and employees transitioning to NSM.

Mission Healthcare, a San Diego-based home health, hospice, and palliative care provider, announced the acquisition of three home health and hospice organizations: Tender Care, Hands of Hope, and Sun Tree (operating in Utah and Idaho). The acquired organizations will continue operating under their existing brands as Mission Healthcare companies, expanding Mission’s footprint into Utah and marking its first location in Idaho.

iFIT has acquired 29029, the creator of ultra-endurance hiking events that simulate climbing Mount Everest through repeated ski-mountain ascents. The deal marks iFIT’s entry into the experiential events and wellness tourism segment while expanding its community and offerings for endurance athletes. 29029’s founding partners will remain involved, with Marc Hodulich continuing as CEO.

Healthcare Financial Resources (HFRI) announced the acquisition of STAT Revenue, an Emeryville, California-based provider of zero balance (closed) claims review and recovery services for hospitals and health systems. The deal expands HFRI’s healthcare accounts receivable recovery and resolution capabilities by adding the final stage of claims recovery, leveraging STAT Revenue’s forensic-style reviews to identify underpayments from government and commercial payers. HFRI is backed by private equity firm Housatonic Partners.

Orthopedic Care Partners (OCP), an orthopedic practice management platform backed by Varsity Healthcare Partners, announced a strategic practice affiliation with Tucson Orthopaedic Institute. The affiliation expands OCP’s platform into Arizona, adding a 33-physician multi-subspecialty orthopedic group with eight clinic locations.

Help at Home acquired Community Care Systems Inc. (CCS), an in-home care provider with 13 branch locations across Illinois. The deal expands Help at Home’s presence and service capabilities in Illinois and supports its growth strategy focused on local market density and broader home-based care delivery.

The Riverside Company has invested in eMindful, a provider of evidence-based mindfulness programs for everyday life and chronic conditions. The transaction is an add-on investment to Riverside’s portfolio company Wondr Health (formerly Naturally Slim), expanding Wondr Health’s digital behavioral change offering in the employer-sponsored health space. eMindful is headquartered in Orlando, Florida.

Granite Bridge Partners sold its portfolio company, The Wellness Network (TWN), to WebMD Health Corp., an Internet Brands company. TWN provides patient education and engagement solutions used in hospital settings, and Granite Bridge had owned the business since its initial investment in 2015.

PartsSource, an online B2B marketplace for medical equipment maintenance parts and services, has signed a definitive agreement to be acquired by Bain Capital Private Equity. The company will continue operating under its current management team, and the purchase from current owner Great Hill Partners is expected to close in the third quarter of 2021, subject to customary conditions; financial terms were not disclosed.

Advarra acquired Watermark Research Partners, Inc., an independent provider of data safety monitoring board (DSMB), data monitoring committee (DMC), and endpoint adjudication committee (EAC) services. The deal expands Advarra’s integrated clinical trial research oversight offerings and broadens its global reach, adding additional biostatistical and endpoint-related consulting capabilities.

Premier Research announced that it has acquired Health Decisions, a contract research organization (CRO) focused on clinical development in women’s health and diagnostics. The combination expands Premier Research’s capabilities in female-centric clinical trials and diagnostic/IVD studies, leveraging Health Decisions’ network of women’s health sites and regulatory experience.

Velocity Clinical Research, a portfolio company of GHO Capital Partners, added two new U.S. clinical trial sites to its network: Clarity Clinical Research in Syracuse, New York, and Providence Clinical Research in North Hollywood, California. The acquisitions expand Velocity’s geographic footprint and therapeutic capabilities, supporting faster patient recruitment and data delivery for clinical trial sponsors.

American Health Partners entered into a new ownership agreement to become a subsidiary of the Mitchell Family Office, a Michigan-based investor with significant healthcare holdings. The transaction makes American Health Partners privately held, with its existing executive team expected to remain in place; financial terms were not disclosed.

St. Croix Hospice acquired the Des Plaines, Illinois operations of Silverado Hospice, expanding its hospice care footprint in the state. The deal marks St. Croix Hospice’s second Illinois branch following an earlier acquisition in Rockford in 2021.

Onex Partners V, an affiliate of Onex Corporation, agreed to acquire Newport Healthcare in partnership with the company’s management team, becoming a majority investor. Newport Healthcare is a U.S. provider of evidence-based mental health treatment programs for teens and young adults, including residential and outpatient services. The transaction is expected to close in the third quarter of 2021, subject to customary conditions and regulatory approvals, with terms undisclosed.

St. Croix Hospice acquired CNS Hospice, based in Troy, Michigan, expanding St. Croix Hospice’s footprint into Michigan for the first time. The acquisition adds CNS Hospice’s clinical staff and enables the Troy branch team to serve much of the Detroit metropolitan area.

Ro, a healthcare technology company, acquired at-home diagnostics company Kit (Kit.com) to expand Ro’s at-home medical exam, diagnostics, and preventative care capabilities. The deal adds Kit’s self-administered testing products and its CLIA-certified, CAP-accredited lab infrastructure, strengthening Ro’s vertically integrated primary care platform and in-home care offerings.

Physical Rehabilitation Network (PRN) announced it has acquired Synergy Therapies, marking PRN’s entry into Missouri. Synergy Therapies operates two outpatient clinics in Independence and Oak Grove, and the deal brings PRN’s nationwide clinic total to 156 across 15 states. PRN is a portfolio company of Gryphon Investors.

The IMA Group acquired Orchard Medical Consulting, expanding IMA’s clinical programs with nurse case management, catastrophic case management, and disability/injury management capabilities. The deal strengthens IMA’s service offering and geographic coverage; terms were not disclosed and Orchard will continue operating under its current name with key leadership retained.

wecare Group has acquired GAMA Altenhilfe, adding four nursing homes in the Hesse region with over 400 care places, 25 assisted living units, and approximately 360 employees. The deal supports wecare Group’s strategy to become a leading nationwide care services provider through targeted acquisitions and new builds, bringing the group to 20 facilities across Germany.

Questex announced it has acquired The Spa Industry Association, a for-profit business organization serving the spa and international medical spa industries. The deal expands Questex’s wellness information-services footprint and is intended to amplify the association’s voice and grow its community through Questex’s events and platforms. The Spa Industry Association will continue under the leadership of Allan Share.

PathGroup announced the acquisition of SkinDx, a dermatopathology laboratory based in Birmingham, Alabama. The deal expands PathGroup’s dermatopathology footprint in the Southeastern United States and enables SkinDx clients to access enhanced molecular and clinical pathology services.

Patriot Capital announced the sale of its portfolio company, D&S Community Services, to The MENTOR Network. Headquartered in Austin, Texas, D&S provides residential and community-based services for individuals with intellectual and developmental disabilities, and the combination is intended to expand nationwide service capabilities.

Calibre Scientific acquired LINARIS Biologische Produkte GmbH (LINARIS), a life science distributor headquartered near Frankfurt, Germany. Following the acquisition, LINARIS will be integrated with BIOZOL Diagnostica GmbH, Calibre Scientific’s German subsidiary, to expand sales capabilities and broaden the product portfolio for customers across the DACH region.

Northlane Capital Partners (NCP) made an investment in EB Employee Solutions, LLC d/b/a The Difference Card, a provider of healthcare cost containment solutions for employers. The investment was completed in partnership with the company’s existing management team led by CEO Gregg Lehman, and Richard Fleder joined the board in connection with the transaction.

Hospice Source acquired Respiratory Therapy Home Care (RTHC), a provider of durable medical equipment for hospice patients based in Bellflower, California. The deal expands Hospice Source’s presence in California and represents its 14th acquisition in the past five years. Hospice Source is a portfolio company of Transition Capital Partners.

Golden Bear Therapy Partners acquired Greater Therapy Centers (GTC), a Texas-based outpatient physical therapy provider with 27 clinics in the Dallas–Fort Worth area, on June 6. Co-owners Dena Aitken and Richard Kelly will remain in leadership roles for the GTC brand while leveraging Golden Bear’s administrative support and network to drive continued growth and expansion in Texas.

HCAP Partners announced a follow-on investment in AMFM Healthcare, a provider of intensive mental health treatment. The capital will support employee development and engagement initiatives and help AMFM expand into markets including San Diego, California and metropolitan Washington, D.C. Investment terms were not disclosed, and HCAP Managing Partner Tim Bubnack will join AMFM's board with HCAP Principal Bhairvee Shavdia serving as a board observer.

Professional Physical Therapy acquired Freehold Physical Therapy, an outpatient physical therapy practice located in Freehold, New Jersey. The acquired clinic will operate as a Professional Physical Therapy location and continue with the current staff, expanding Professional’s patient care footprint in the region.

Professional Physical Therapy announced it has acquired PRO Sports Physical Therapy of Westchester, a single-clinic outpatient physical therapy practice in Scarsdale, New York. Founder Tim Tyler will remain with the business as Clinic Director following the acquisition.

HealthPRO Heritage, LLC (HealthPRO) has acquired Goodfellow Occupational Therapy, a pediatric therapy provider offering occupational, speech, and physical therapy services. The deal expands HealthPRO’s presence in California’s Central Valley and Central Coast and adds to its network of pediatric OT, PT, and SLP providers.

Audax Private Equity signed a definitive agreement to sell Axia Women's Health to Partners Group on behalf of its clients. Axia Women's Health is a U.S.-based women's healthcare provider headquartered in Voorhees, New Jersey, operating a network of care centers and providing integrated support services to affiliated physician practices.

ClareMedica Health Partners, LLC completed the acquisition of Anona Medical Center, the primary care practice of Dr. William T. Keweshawn, Dr. Allison Howard, and Dr. Chris Patterson, in Pinellas County, Florida. The deal marks ClareMedica’s ninth acquisition and is intended to expand its senior-focused primary care footprint and deepen its relationship with Humana Medicare Advantage members in the region.

The Stepping Stones Group acquired The Futures Health Group, LLC, a Massachusetts-based provider of therapeutic and behavioral services serving schools. The deal expands Stepping Stones’ service offerings and geographic footprint, particularly in Massachusetts, Michigan, and Arizona. Stepping Stones is a portfolio company of Five Arrows Capital Partners (Rothschild & Co. Merchant Banking).

Apex Physics Partners (APP) announced a new partnership with D. Harris Consulting to expand APP’s medical physics services footprint in Texas, particularly in the Austin and Houston markets. D. Harris Consulting will work alongside APP’s existing Texas practice, Radcom Associates, to support local and regional medical physics and radiation safety needs.

Modernizing Medicine announced that its wholly-owned subsidiary, Modernizing Medicine Podiatry Systems, acquired TRAKnet and other assets from podiatric EHR vendor NEMO Health. The acquisition adds TRAKnet’s specialty-specific technology and team to strengthen Modernizing Medicine’s podiatry offerings and accelerate innovation in EHR, practice management, and related solutions for podiatrists.

Physical Rehabilitation Network (PRN) acquired Professional Rehabilitation Associates, PSC (PRA), expanding PRN’s footprint into Kentucky. The deal includes PRA’s three outpatient physical therapy clinics and PRN assuming management accountability for PRA’s inpatient physical therapy care center at Clark Regional Medical Center. PRN is a portfolio company of Gryphon Investors.

Balance Point Capital announced an investment to support the combination of PatientPoint and Outcome Health, forming a new entity called PatientPoint Health Technologies. The transaction was led by existing sponsors L Catterton and Littlejohn & Co, who sponsored the combination alongside the new Balance Point capital.

RiverGlade Capital formed a new partnership with H.H. Franchising Systems Inc., the Cincinnati-based operator of the Home Helpers Home Care in-home senior care franchise system. Transaction terms were not disclosed, and CEO Emma Dickison will continue to lead the business.

Vālenz, a portfolio company of Great Point Partners II, announced that it has acquired Kozani Health. The deal adds Kozani’s medical-claim bill review and audit capabilities to Vālenz’s data and solutions ecosystem, with Kozani rebranded as Valenz ProteKHt to serve self-funded employers and the self-insured market.