Private Equity Firm Healthcare

Linden Capital Partners

Chicago, Illinois, United States

Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life sciences industries, investing in middle-market platforms across medical products, specialty distribution, pharmaceuticals, and services.

Focus Areas
Healthcare and life sciences leveraged buyouts, Medical products, Specialty distribution
Website
www.linden.com

Tracked deals

60

60 tracked deals across 2018-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Addon

40 addon · 13 buyout · 4 growth capital

Linden Capital Partners Acquisition Volume by Year

Last 9 years

Acquisition volume by year Annual acquisition counts for the last 9 years for Linden Capital Partners. 1 2018 7 2019 10 2020 14 2021 11 2022 9 2023 5 2024 2 2025 ~2 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

Showing the 12 most recent of 60 tracked deals for Linden Capital Partners.

  • Buyer
    Chicago Pacific Founders
    Target
    Nexben

    Chicago Pacific Founders (CPF) announced a strategic investment in Nexben, an end-to-end benefits utility hub focused on defined contribution and ICHRA strategies. As part of the investment, Mark Smith (operating partner at CPF) was appointed CEO of Nexben.

  • Buyer
    SightMD, Sight Growth Partners, Chicago Pacific Founders
    Target
    Sambursky Eye & Esthetics
    Type
    Addon

    SightMD (via Sight Growth Partners) has acquired Sambursky Eye & Esthetics, integrating the long-established ophthalmology practice into its New York network. The deal expands SightMD's clinical footprint in the Southern Tier of New York and adds experienced cataract and LASIK surgeons and related surgical capabilities to the platform.

  • Buyer
    SightMD Connecticut, Sight Growth Partners, Chicago Pacific Founders
    Target
    Doctor & Associates
    Type
    Addon

    SightMD Connecticut has acquired Doctor & Associates, a three-location ophthalmology practice serving Fairfield County (Westport, Wilton and Norwalk), bringing three physicians and expanded cataract, cornea and LASIK capabilities into the SightMD Connecticut network. The practice will integrate with SightMD Connecticut’s clinical and ambulatory surgery center resources and administrative support from Sight Growth Partners, which is backed by private equity firm Chicago Pacific Founders.

  • Buyer
    Berkshire Partners, Leonard Green & Partners, Linden Capital Partners
    Target
    Vital Care

    Vital Care, a Brentwood, Tennessee-based franchisor of infusion therapy pharmacies with more than 160 locations, received a strategic investment from Berkshire Partners and Leonard Green & Partners alongside existing investor Linden Capital Partners. The capital will support franchisee reinvestment, operational enhancements, and continued expansion to increase access to infusion therapy across the U.S.; financial terms were not disclosed.

  • Buyer
    Linden Capital Partners
    Target
    Alcresta Therapeutics, Inc.
    Seller
    Athyrium Capital, Bessemer Venture Partners, Frazier Healthcare Partners, HealthQuest Capital
    Industry
    Medical Devices
    Type
    Buyout

    Chicago-based private equity firm Linden Capital Partners has completed its acquisition of Alcresta Therapeutics from a group led by Athyrium Capital, with Bessemer Venture Partners, Frazier Healthcare Partners and HealthQuest Capital also selling (HealthQuest reinvested as a minority shareholder). Linden will work with Alcresta's management and a newly assembled board to support the commercial launch of the next-generation RELiZORB device and accelerate R&D and growth.

  • Buyer
    Cardinal Health, Inc.
    Target
    Specialty Networks, LLC
    Seller
    Linden Capital Partners, Nautic Partners
    Type
    Buyout

    Cardinal Health has entered into a definitive agreement to acquire Specialty Networks, a technology-enabled multi-specialty group purchasing and practice enhancement organization, from Linden Capital Partners for $1.2 billion in cash. The deal adds Specialty Networks' GPOs, PPS Analytics platform and life-sciences/research capabilities to Cardinal Health's Specialty business to accelerate capability expansion across urology, gastroenterology and rheumatology.

  • Buyer
    SightMD New York, Sight Growth Partners, Chicago Pacific Founders
    Target
    Clearview Eye Surgery
    Type
    Addon

    SightMD New York has acquired Clearview Eye Surgery, bringing three practice locations (Bronx, Flushing, Upper Manhattan) and five providers into the SightMD network. The deal expands SightMD's New York footprint to 40+ locations and 85+ providers; administrative support is provided by Sight Growth Partners, which is backed by Chicago Pacific Founders.

  • Buyer
    ARC Health, Thurston Group
    Target
    Mindsoother Therapy Center
    Type
    Addon

    ARC Health, a portfolio company of private equity firm Thurston Group, has acquired Mindsoother Therapy Center, a mental health practice in Livingston, New Jersey founded by Danna Markson, LCSW. Mindsoother — established in 2011 and offering evidence-based therapies such as DBT, CBT and ERP — will join the ARC Health network to expand clinical capacity and local behavioral-health services; the transaction was facilitated by Mertz Taggart.

  • Buyer
    ARC Health, Thurston Group
    Target
    Manhattan Psychology Group (MPG)
    Type
    Addon

    ARC Health, a Thurston Group portfolio company, has acquired Manhattan Psychology Group (MPG), a multi-location behavioral health practice serving the Greater New York City metro area. The add-on strengthens ARC Health's provider network and expands its clinical capabilities — notably combining mental health and Applied Behavior Analysis services — and was facilitated by Mertz Taggart.

  • Buyer
    ARC Health, Thurston Group
    Target
    GROW Counseling
    Type
    Addon

    ARC Health, a portfolio company of Thurston Group, has acquired GROW Counseling and its GROW Counseling Network, expanding ARC Health’s mental health practice footprint across the Atlanta metro area and extending its employer-facing network across the United States and Canada. The deal was facilitated by healthcare M&A advisor Mertz Taggart and strengthens ARC Health’s provider network and employer mental-health capabilities.

  • Buyer
    SGA Dental Partners, Thurston Group
    Target
    Lane Perio
    Seller
    Lane Perio, Dr. John Lane
    Industry
    Dental
    Type
    Addon

    SGA Dental Partners, a portfolio company of Thurston Group, has affiliated with Lane Perio, a two-location periodontal practice led by Dr. John Lane in Northern Alabama. The transaction brings Lane Perio into SGA’s DSO platform as an add-on to expand clinical and geographic coverage while preserving clinical autonomy for Dr. Lane.

  • Buyer
    ARC Health, Thurston Group
    Target
    Silver Lake Psychology
    Type
    Addon

    ARC Health, a Thurston Group portfolio company, has acquired Silver Lake Psychology, a multi-state mental healthcare provider founded by Dr. Brandy Engler. The transaction expands ARC Health’s provider network and geographic footprint across California, Tennessee, Colorado and Virginia while reinforcing a provider-centric operating model.

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