Healthcare Services Acquisitions in Indiana

Bradford Health Services has acquired Parkdale Center, a Chesterton, Indiana addiction treatment provider specializing in confidential care for licensed professionals. The acquisition expands Bradford’s clinical footprint into the Midwest and preserves Parkdale’s specialized Professionals Program and continuum of care services.

VMG Health, a portfolio company of Incline Equity Partners, has acquired Burrows Consulting, a specialist in funding strategy and reimbursement optimization for community-based healthcare organizations. The add-on expands VMG Health's capabilities serving Federally Qualified Health Centers, rural health clinics and other community providers and broadens its national presence.

Lumelight, a benefits compliance provider, has acquired BMI Audit Services, a specialist in dependent eligibility verification and medical and pharmacy claims audits. The acquisition expands Lumelight’s oversight capabilities and enhances its ability to help employers, brokers, TPAs and health plans reduce costs and manage fiduciary and compliance obligations.

Truven by Merative has acquired Springbuk, a cloud-native health intelligence platform used by employers and benefits advisors. The acquisition integrates Springbuk’s Health Intelligence Platform and Activate Marketplace with Truven’s MarketScan data and Health Insights, adding more than 7,500 small- and mid-market employer customers and expanding Truven’s employer-market capabilities.

GEOH, an Indianapolis-based provider of practice management software and revenue cycle services for home care agencies, raised over $30 million in a growth round led by Council Capital and affiliates. Existing investors Boomerang Ventures, First Leaf Capital, and VisionTech Partners participated; proceeds will accelerate GEOH’s expansion of its integrated software + services platform and revenue cycle management capabilities.

Allied OMS, a doctor-owned management services organization (MSO), has partnered with Oral Surgery Michiana to expand its doctor-led model into Indiana. The partnership brings Oral Surgery Michiana’s two surgical centers in South Bend and Elkhart into Allied OMS’s platform to support growth while preserving the practice’s clinical autonomy and identity.

Chord Specialty Dental Partners, a multi-specialty dental support organization based in Nashville, announced an affiliation and acquisition of Dr. J Pediatric Dentistry, a three-practice pediatric dental group serving greater Indianapolis. The partnership will integrate the practices into Chord's pediatric network and provide operational support while preserving clinical autonomy for Dr. J's teams.

New Day Healthcare has acquired Dunes Hospice, marking the operator’s first entry into Indiana as part of its tuck‑in growth strategy. The acquisition expands New Day’s hospice and home‑health footprint and positions the company to build density in northwest Indiana through additional personal care and skilled home‑health services.

Cressey & Company LP has entered into a partnership and recapitalization with Paradigm Health, a leading hospice and palliative care provider based in Indianapolis. Existing investor Havencrest Capital Management completed a majority exit while reinvesting alongside Paradigm Management and Cressey to support the company's next phase of geographic and service expansion across Indiana.

Help at Home, a Chicago-based national provider of in-home personal care, has acquired two Indiana-based home care providers: LovAbility Home Care and BB's Heaven on Earth Home Care Services. The acquisitions expand Help at Home's capacity and geographic presence in central Indiana to better serve the aging-in-place population.

PAM Health has acquired Southern Indiana Rehabilitation Hospital in New Albany, Indiana; the facility will operate as PAM Health Rehabilitation Hospital of Greater Indiana North. The acquisition expands PAM Health's post-acute network in Indiana, adding a second state location alongside its Clarksville rehab hospital.

Honor Health Care Network, a Ridgefield Park, New Jersey-based home care organization, acquired Indianapolis-based First Horizon Management, LLC (doing business as First Horizon Home Health Care) in a transaction that closed June 28, 2024. First Horizon, founded in 2017, provides skilled and unskilled in-home care and operates a Certified Nursing Assistant school serving over 200 individuals; Generational Group advised the seller on the sale.

Priority Health, a Michigan-based health plan, has acquired Physicians Health Plan of Northern Indiana (PHPNI), a Fort Wayne-based commercial health plan serving about 50–52,000 members across Indiana and Ohio. The transaction, announced in June 2024 and completed December 1, 2024, expands Priority Health's footprint into northern Indiana and Ohio while providing financial proceeds to support the PHP Foundation.

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.

Remodel Health has acquired PeopleKeep to combine complementary ICHRA and benefits-administration capabilities and expand its offering to small and midsize employers. The deal positions Remodel Health as the leading ICHRA provider by combining Remodel's white‑glove service for larger groups with PeopleKeep's automated solutions for smaller groups, broadening product capabilities and market reach across the U.S.

Petauri, a pharmaceutical services platform backed by Oak Hill Capital, has acquired FORCE Communications and its three independent agencies — DRIVE, MOMENTUM, and PROPEL. The add-on expands Petauri's scientific communications and medical education capabilities as the platform continues to build scale in medical affairs, market access, patient services, and data and analytics.

Real Chemistry has acquired Avant Healthcare, a Carmel, Indiana-based medical communications firm, to expand its medical education, medical affairs and HCP communications capabilities. The acquisition, which closed Feb. 1, 2024 for undisclosed terms, more than doubles Real Chemistry’s medical team and enhances its scientific, data-driven medical communications offering for life sciences clients.

Cresset Partners, Cedar Pine and American Discovery Capital completed a recapitalization of American Pain Consortium (APC). APC, based in Indianapolis, is a growing network of interventional pain management practices and pain-focused ambulatory surgical centers; the transaction is intended to support APC's platform growth and expansion in the interventional pain management sector.

Fountain Life, a preventative health and advanced diagnostics membership company, has acquired LifeOmic, a health data technology firm, obtaining LifeOmic's platform, mobile apps, IP, and engineering team to power Fountain Life's data-driven diagnostics and membership services. The acquisition will integrate LifeOmic's cloud data, genomic analysis, EHR integration, and AI/ML capabilities into Fountain Life's digital and at-home offerings to expand its precision and preventive care services.

Novacap has made a significant growth investment in Harmony Healthcare IT (HHIT) to accelerate the development and adoption of HHIT's HealthData cloud platform, expand its use of AI for data handling and analytics, and support broader commercial growth. Triple Tree served as HHIT's exclusive financial advisor for the transaction.

Versiti, a Milwaukee-based blood health organization, has acquired Pearl Pathways, an Indianapolis-area life science consulting firm that provides regulatory affairs, quality compliance, CRO services and an independent IRB. The acquisition expands Versiti's clinical trial and life-sciences service capabilities, enabling earlier and deeper support for product development across biopharmaceutical, medical device, and diagnostics clients.

TPG Growth will acquire a majority stake in Crowe Healthcare Consulting and establish it as an independent company rebranded as Kodiak Solutions, with Crowe LLP retaining a minority ownership stake. The deal positions Kodiak to accelerate growth and expand its technology portfolio while continuing to serve healthcare provider organizations nationwide; the company has more than 350 employees and serves thousands of hospitals and practice-based physicians.

ENT Partners, a physician practice management company, has acquired Southern Indiana ENT & Indianapolis Sinus Center, a four-location ENT practice headquartered in Columbus, Indiana. The acquisition expands ENT Partners' Midwest footprint and aims to improve operational efficiencies, recruit talent, and support the practice's growth while maintaining clinical autonomy.

Versiti, a national blood health organization headquartered in Milwaukee, has acquired Quantigen, a specialty laboratory and contract research organization based in Fishers, Indiana. The acquisition expands Versiti’s clinical-trials and diagnostic capabilities—adding assay development, biomarker validation, and regulatory support for preclinical and clinical research.

Signet Leadership, backed by Lead Capital Partners, and its clinical partner Ladd Dental Group have acquired Elsner Family Dentistry in Westfield, Indiana. The acquisition is an add-on to the Ladd platform, expanding its clinic footprint in central Indiana and bringing Elsner access to Signet/Ladd administrative resources and technologies.

Birch Swing Capital has acquired Universal Med Apparel LLC, which does business as Scrubs on Wheels, a mobile-based provider of medical apparel serving long-term care and healthcare facilities. Spring Capital Partners IV invested subordinated debt and minority equity alongside Birch Swing and Scrubs on Wheels' management; Dennis Carrico will remain President and retain an ownership stake. Birch Swing intends to scale the business organically and via add-on acquisitions while investing in technology and service initiatives.

Rising Medical Solutions has acquired Preferred Disability Management (PDM), a Carmel, Indiana-based case management firm, to expand Rising's case management and clinical capabilities in the Midwest. The acquisition adds PDM's telephonic, field-based and catastrophic case management services to Rising's national managed care offerings, deepening its presence in Indiana, Illinois, Missouri, Ohio and Michigan.

Capitol Pain Institute (CPI), backed by Iron Path Capital, has acquired Wellspring Pain Solutions to expand CPI's interventional pain management platform into Indiana. The deal adds Wellspring’s clinics and ambulatory surgical center footprint across central Indiana and strengthens CPI’s regional network and operational capabilities.

LongRange Capital, a private investment firm, has completed the acquisition of Batesville (Batesville Services / Batesville Casket Company) from Hillenbrand, Inc. Batesville, headquartered in Batesville, Indiana, is a leading provider of burial and cremation products, memorialization options and technology solutions; LongRange plans to support the company as a standalone business and pursue growth and capability expansion.

Rockville, Maryland-based healthcare technology company DrFirst has acquired select assets of Indianapolis-based Diagnotes to integrate Diagnotes' secure messaging and care coordination capabilities into DrFirst's Backline platform. The deal is intended to expand Backline's clinical communication functionality, improve cross-system clinician collaboration, and accelerate time-to-market for combined solutions.

Center for Pain Management, supported by American Pain Consortium, acquired Indiana Spine & Pain Institute—three interventional pain clinics in southern Indiana (Evansville, Jasper and Rockport). The deal expands Center for Pain Management's Indiana footprint to seven clinics and is complemented by an affiliated ambulatory surgery center acquisition by American Pain Consortium to support minimally invasive pain procedures.

NMS Capital portfolio company U.S. Urology Partners has announced an affiliation with Urology of Indiana, expanding the U.S. Urology network into Indiana and bringing the platform to more than 150 providers across 40+ locations in four states. Terms were not disclosed; Urology of Indiana is a market-leading multi-specialty urology practice with roughly 40 physicians and 20 advanced practice providers and will operate as an affiliate of the U.S. Urology platform.

The Care Team (TCT), a Revelstoke Capital Partners portfolio company, completed the acquisition of 1st Care Home Health and Care Hospice, regional providers based in Carmel, Indiana. The transaction (terms not disclosed) expands TCT's hospice and home health footprint into Indiana; select 1st Care leadership, including founder Hari Nagireddy, will continue in management roles.

Euson Lindsay Health LLC completed the acquisition of The Green House Cottages of Carmel (closed November 30, 2022). The 72-bed skilled nursing campus in Carmel, Indiana will be rebranded The Restoracy of Carmel as Euson Lindsay expands its small-home skilled nursing platform in the state; the seller was represented by Green House Senior Living.

Rhythm Management Group has acquired Equis Consulting Group, an Indiana-based provider of clinical and consultative remote cardiac monitoring and remote patient management services. The deal, which closed September 30, expands Rhythm’s national footprint—especially across the Midwest—and integrates Equis into Rhythm’s operations as part of the Aldrich Capital Partners-backed platform.

Solaris Health Holdings announced that Urology Associates (east central Indiana urology practice) has joined Solaris as an affiliate practice and will operate as a division of The Urology Group, Cincinnati. The affiliation adds nine providers who care for over 15,000 unique patients annually; terms were not disclosed and Solaris is backed by financial partner Lee Equity Partners.

Fulcrum Equity Partners led a $13 million Series A growth investment in Olio Health, a care coordination and population health software platform, with participation from Mutual Capital Partners. The capital will be used to accelerate product development, hire key staff, and expand Olio's market reach across health systems, payers, and post-acute providers.

Vālenz has acquired Certus Management Group Stop Loss, Inc. (CMG), which will become a Valenz Affinity Company and join the Valenz Healthcare Ecosystem Optimization Platform. The deal creates a private-label medical stop loss solution (Valenz V-Rated) and keeps CMG's underwriting services and 18-person team operating from Indianapolis; Vālenz is backed by Great Point Partners.

Bennie, an employee benefits platform, has acquired third-party administrator People 1st Health Strategies to expand its product suite and introduce a self-funded offering called Better Health Plan. The deal enables Bennie to offer self-funded Medical, Dental, and Vision plans integrated with its app, targeting small and mid-sized employers.

TridentCare, a national provider of portable diagnostic services based in Sparks, Maryland, has acquired Midwest X-Ray, a regional mobile imaging and cardiology services provider. The acquisition expands TridentCare’s footprint and service offerings across Kentucky, Illinois and Indiana and brings Midwest X-Ray’s clinical team and customers into TridentCare’s national platform.

Owens & Minor completed its acquisition of Apria, Inc. for approximately $1.6 billion in cash, funded with a combination of debt and cash on hand. Apria will be combined with Owens & Minor's Byram Healthcare business to form a new Patient Direct segment to expand the company's presence and capabilities in the home healthcare market.

Avista Capital Partners has acquired Probo Medical, a global supplier of refurbished diagnostic imaging equipment and related services, from Varsity Healthcare Partners. The transaction (terms undisclosed) will support Probo’s growth and international expansion of its repair, rental, sales and service capabilities across multiple imaging modalities.

BayMark Health Services, through its AppleGate Recovery brand, has acquired Lucina Treatment Centers, a group of five office-based opioid treatment (OBOT) programs in Central and Northeastern Indiana (two Indianapolis locations, plus Kokomo, Muncie and Fort Wayne). The acquisition expands BayMark/AppleGate's OBOT footprint and brings these clinics into BayMark's network of outpatient medication-assisted treatment services across the United States.

Medical Technology Associates, Inc. (MTA) has acquired GasMedix, LLC, a Midwest medical gas services and compliance testing provider headquartered in Evansville, Indiana. The acquisition deepens MTA’s Midwest presence, adds medical gas testing and service capabilities, and will integrate GasMedix into MTA’s reporting platform while keeping key management in place.

Chicago-based private equity firm BPOC made a strategic growth investment in Networking Packaging Group, LLC ("Network Partners"), a U.S.-based life sciences consulting firm that supports medical device and pharmaceutical companies. The capital will be used to accelerate growth by expanding into new verticals, adding services and increasing geographic reach; financial terms were not disclosed.

Fortis Home Health & Hospice, a Grant Avenue Capital portfolio company, acquired Select Home Health of Indianapolis (Carmel), Indiana, with Select's founders reinvesting alongside other investors. The deal expands Fortis' home-based care platform into the Midwest as part of Grant Avenue Capital's buy-and-build strategy for Fortis.

Berenson Capital made a growth investment in Interactive Digital Solutions (IDS) and will support the company’s plan to separate its MedSitter virtual patient observation business into an independent, privately held company. The capital will be used to accelerate IDS’s market reach for next-generation communication solutions while enabling MedSitter to focus exclusively on patient safety and virtual observation in healthcare settings.

Sentinel Capital Partners made a strategic growth investment in Midwest Eye Consultants, a Wabash, Indiana-based management services organization supporting optometry and ophthalmology practices in Indiana and northwest Ohio. Midwest Eye operates a network of affiliated practices across 54 locations with more than 74 healthcare specialists; terms were not disclosed and Physician Growth Partners advised Midwest Eye.

Advarra has acquired Watermark Research Partners, a specialist provider of independent data safety monitoring board (DSMB), data monitoring committee (DMC) and endpoint adjudication committee (EAC) services. The deal adds biostatistics, protocol endpoint design, and data safety monitoring capabilities to Advarra's integrated IRB/IBC and research oversight offerings and expands its global research oversight footprint.

Dallas-based private equity firm Havencrest Capital Management announced an investment in Paradigm Health, a hospice and palliative care provider headquartered in Indianapolis. The partnership will support Paradigm's growth and geographic expansion across Indiana, with Havencrest partnering alongside the company's founder and management; financial terms were not disclosed.