Tracked deals
22
22 tracked deals across 2019-2026.
Private Equity Firm
Other
Welsh, Carson & Stowe
New York, New York, United States
WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. The firm partners with management teams and builds value for investors through operational improvements, growth initiatives, and strategic acquisitions.
- Focus Areas
- Healthcare, Technology, Healthcare services
- Website
- wcas.com
Recent pace
1
1 tracked deal announced in the last 12 months.
Deal mix
Buyout
12 buyout · 5 addon · 5 growth capital
Welsh, Carson & Stowe Acquisition Volume by Year
Last 8 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
Showing the 12 most recent of 22 tracked deals for Welsh, Carson & Stowe.
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July 2, 2026
- Buyer
- Welsh, Carson, Anderson & Stowe (WCAS), Robert A. Ortenzio, Martin F. Jackson
- Target
- Select Medical Holdings Corporation, Select Medical (NovaCare Rehabilitation operating platform)
- Industry
- Healthcare Services
- Location
- Pennsylvania, United States
- Type
- Buyout
Select Medical Holdings Corporation will be taken private in a $3.9 billion transaction, with a consortium led by Executive Chairman Robert A. Ortenzio and Senior Executive VP Martin F. Jackson alongside Welsh, Carson, Anderson & Stowe (WCAS). The deal closed effective July 1, 2026, at $16.50 per share in cash, ending Select Medical’s NYSE listing.
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- Buyer
- Welsh, Carson, Anderson & Stowe (WCAS), The American Institute of Architects (AIA), True Wind Capital
- Target
- AIA Contract Documents
- Seller
- True Wind Capital
- Industry
- Cloud & SaaS
- Location
- District of Columbia, United States
- Type
- Buyout
Welsh, Carson, Anderson & Stowe (WCAS) has made a majority investment in AIA Contract Documents (ACD), the leading risk-management and contract workflow platform for the architecture, engineering, and construction (AEC) industry. WCAS is partnering with The American Institute of Architects (AIA) and existing investor True Wind Capital, which will remain investors and strategic partners; terms were not disclosed.
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- Buyer
- Welsh, Carson, Anderson & Stowe
- Target
- Constitution Surgery Alliance
- Industry
- Healthcare Services
- Location
- Connecticut, United States
- Type
- Growth capital
Welsh, Carson, Anderson & Stowe (WCAS) has made a strategic growth investment in Constitution Surgery Alliance (CSA), an independent developer and operator of ambulatory surgery centers. The investment will provide capital and healthcare scaling expertise to help CSA expand nationally; CSA currently manages 16 facilities across five states and performs over 100,000 procedures annually.
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August 1, 2024
- Buyer
- EnableComp, Welsh, Carson, Anderson & Stowe (WCAS)
- Target
- ANI Healthcare Solutions, LLC
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Addon
EnableComp has acquired ANI Healthcare Solutions, a San Francisco–based denial management and zero-balance review specialist, adding ANI's denial management expertise to EnableComp's E360 RCM intelligent automation platform. Welsh, Carson, Anderson & Stowe (WCAS) is affiliated with EnableComp and Greenberg Advisors served as exclusive M&A advisor on the deal.
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January 18, 2024
- Buyer
- Welsh, Carson, Anderson & Stowe (WCAS), Bank of America, BlackRock, Goldman Sachs, Morgan Stanley, National Bank of Canada, State Street, UBS
- Target
- EquiLend
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Buyout
Welsh, Carson, Anderson & Stowe (WCAS) has completed its majority acquisition of EquiLend, a global financial technology, data and analytics provider for the securities finance industry, following regulatory approvals in the U.S., UK and Ireland. Founding shareholders and customers — including Bank of America, BlackRock, Goldman Sachs, Morgan Stanley, National Bank of Canada, State Street and UBS — joined WCAS as owners; WCAS previously committed $200 million to support EquiLend's organic growth and acquisitions.
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February 10, 2023
- Buyer
- Welsh, Carson, Anderson & Stowe (WCAS)
- Target
- ImageTrend, Inc.
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Growth capital
Welsh, Carson, Anderson & Stowe (WCAS) made an equity growth investment in ImageTrend, Inc., a market-leading provider of public safety and healthcare software, to accelerate growth and product innovation. WCAS partners with ImageTrend’s management and will add investment team members to the board to support continued expansion of the company’s software, analytics, and services across EMS, hospitals, fire, and public safety end markets.
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July 20, 2022
- Buyer
- United Musculoskeletal Partners (UMP), Welsh, Carson, Anderson & Stowe (WCAS), A&M Capital Partners (AMCP)
- Target
- Novum Orthopedic Partners, Panorama Orthopedics
- Industry
- Healthcare Services
- Location
- United States
- Type
- Addon
United Musculoskeletal Partners (UMP), a physician-owned orthopedic platform backed by Welsh, Carson, Anderson & Stowe (WCAS), announced a merger with Dallas-based Novum Orthopedic Partners and the addition of Denver-based Panorama Orthopedics as a co-founding practice. The combined platform, with go-forward sponsorship from WCAS and A&M Capital Partners (AMCP), expands UMP to roughly 190 physician partners and 320 total providers across Colorado, Georgia and Texas as part of a national musculoskeletal care consolidation strategy.
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Welsh, Carson, Anderson & Stowe (WCAS) Majority Stake Acquisition of LIBERTY Dental Plan CorporationMarch 2, 2022
- Buyer
- Welsh, Carson, Anderson & Stowe (WCAS), Anthem, Inc.
- Target
- LIBERTY Dental Plan Corporation (LIBERTY)
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Buyout
LIBERTY Dental Plan Corporation entered into a definitive agreement under which Welsh, Carson, Anderson & Stowe (WCAS) will make an equity investment and become the majority investor in LIBERTY. Anthem will also invest as a minority investor, and the transaction is expected to close later this year following customary regulatory reviews.
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January 12, 2022
- Buyer
- Welsh, Carson, Anderson & Stowe, Banneker Partners
- Target
- LINQ
- Industry
- Education
- Location
- North Carolina, United States
- Type
- Growth capital
LINQ, a Wilmington, North Carolina–based K-12 operations technology provider, received a strategic growth investment from Welsh, Carson, Anderson & Stowe (WCAS). WCAS joins existing backer Banneker Partners to accelerate LINQ’s growth and further develop its K-12 software platform covering cafeteria/nutrition, ERP, grant management, HR, payments, registration and parent communications.
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December 20, 2021
- Buyer
- Argos Health, Welsh, Carson, Anderson & Stowe (WCAS)
- Target
- EnableComp
- Industry
- Healthcare Services
- Location
- Tennessee, United States
- Type
- Addon
Argos Health, a WCAS-backed revenue cycle platform, has merged with EnableComp, a Franklin, Tennessee-based provider of workers' compensation, Veterans Affairs and other complex claims processing solutions powered by its Enforcer360 software. The deal expands Argos' geographic footprint and technology capabilities to strengthen its position as a market leader in complex claims recovery for hospitals and health systems.
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November 9, 2021
- Buyer
- Welsh, Carson, Anderson & Stowe, Intermountain Ventures, Novant Health, Rex Health Ventures, Spectrum Health Ventures, UNC Health, Kaiser Permanente Ventures, Mayo Clinic, Frazier Healthcare Partners, SV Health Investors, H.I.G. BioHealth Partners
- Target
- Leiters
- Seller
- Kaiser Permanente Ventures, Mayo Clinic, Frazier Healthcare Partners, SV Health Investors, H.I.G. BioHealth Partners
- Industry
- Pharmaceuticals
- Location
- Colorado, United States
- Type
- Buyout
Welsh, Carson, Anderson & Stowe (WCAS) acquired a majority ownership stake in Leiters, an FDA-registered 503B outsourced pharmaceutical compounding provider. WCAS invested alongside health system investors including Intermountain Ventures, Novant Health, Rex Health Ventures, Spectrum Health Ventures and UNC Health, while existing investors — including Kaiser Permanente Ventures, Mayo Clinic, Frazier Healthcare Partners, SV Health Investors and H.I.G. BioHealth Partners — made reinvestments to support Leiters' growth, facility expansion and new product development.
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September 23, 2021
- Buyer
- Welsh, Carson, Anderson & Stowe
- Target
- Argos Health
- Industry
- Healthcare Services
- Location
- Texas, United States
- Type
- Buyout
Welsh, Carson, Anderson & Stowe (WCAS) completed the acquisition of Argos Health, a provider of complex claims revenue cycle services for hospitals, health systems and physician groups. WCAS said it will scale Argos organically and via acquisitions to build a specialized revenue integrity platform and drive greater automation and growth.
Related Acquisition Pages
Healthcare Services Buyers & Acquisitions
8 tracked deals by Welsh, Carson & Stowe.
Cloud & SaaS Buyers & Acquisitions
4 tracked deals by Welsh, Carson & Stowe.
Data & Analytics Buyers & Acquisitions
2 tracked deals by Welsh, Carson & Stowe.
IT Services Buyers & Acquisitions
2 tracked deals by Welsh, Carson & Stowe.
Acquisitions in California
3 tracked deals by Welsh, Carson & Stowe.
Acquisitions in Pennsylvania
3 tracked deals by Welsh, Carson & Stowe.
Acquisitions in New York
2 tracked deals by Welsh, Carson & Stowe.
Acquisitions in Texas
2 tracked deals by Welsh, Carson & Stowe.
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