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The Healthcare Investor

Insights on Issues & Trends that Impact Investments in Healthcare & Life Science Businesses

Healthcare & Life Sciences Private Equity Deal Tracker: Pharos Capital Acquires Controlling Stake in TechLab

Posted in Healthcare Services Investing

Pharos Capital Group has announced it has acquired a controlling position in TechLab.

Pharos is acquiring its stake from Alere and TechLab’s founders, who will remain with the company and maintain a minority investment. Terms of the transaction were not disclosed.

Pharos, with offices in Dallas and Nashville, considers a variety of investments in lower- and middle-market companies primarily in healthcare and business services.

Alere is a Waltham, Mass.-based maker of medical diagnostics products.

TechLab, based in Blacksburg, Va., develops and manufactures intestinal diagnostics.

Learn more about Pharos and other leading private equity firms that invest in healthcare here.

Healthcare & Life Sciences Private Equity Deal Tracker: Altamont Sells Modern Healthcare, Inc., to Kroger

Posted in Healthcare Services Investing

Altamont Capital Partners has announced it sold Modern Healthcare, Inc., to The Kroger Co.

Altamont, based in Palo Alto, Calif., is focused on investing in middle-market businesses across a range of industries, including healthcare.

Kroger, based in Cincinnati, is one of the world’s largest grocery retailers.

Modern Healthcare, Inc. (also referred to as ModernHEALTH), with offices in Orlando, Fla., and Garden Grove, Calif., is a specialty pharmacy focused on patients with chronic illnesses.

Terms of the transaction were not disclosed.

Healthcare & Life Sciences Private Equity Deal Tracker: Frazier Healthcare Partners to Acquire Matrix Medical Network

Posted in Healthcare Services Investing

Frazier Healthcare Partners will acquire a majority equity interest in Matrix Medical Network, according to a press release.

Following completion of the transaction, Frazier will own a 60% equity interest, with The Providence Service Corp., a Stamford, Conn.-based holding company, retaining a 40% equity interest.

Frazier, with offices in Seattle and Menlo Park, Calif., is a provider of growth capital to healthcare companies, focusing on life sciences and growth buyout investments.

Matrix, based in Scottsdale, Ariz., provides in-home assessments and care management.

The transaction values Matrix at $537.5 million.

Healthcare & Life Sciences Private Equity Deal Tracker: Kelso Acquires Physicians Endoscopy From Pamlico Capital

Posted in Healthcare Services Investing

Pamlico Capital has announced it has sold Physicians Endoscopy to Kelso & Company.

Pamlico Capital, based in Charlotte, N.C., and formerly Wachovia Capital, is an independent PE firm focused on buyout and growth equity investments in lower-middle-market businesses.

Kelso, based in New York, is a private PE firm focused on North American middle-market investing.

Physicians Endoscopy (PE), based in Jamison, Pa., is a developer, owner and manager of endoscopic surgery centers. PE currently owns and manages 42 facilities in partnership with over 300 gastroenterologists and 18 health systems.

Terms of the transaction have not been disclosed.

Healthcare & Life Sciences Private Equity Deal Tracker: Linden Capital Partners Acquires Pinnacle Treatment Centers

Posted in Healthcare Services Investing

Linden Capital Partners has announced it has completed its acquisition of Pinnacle Treatment Centers.

Linden, based in Chicago, focuses on leveraged buyouts in the healthcare and life sciences industries.

Pinnacle, based in Mt. Laurel, N.J., is a provider of inpatient and outpatient treatment for people suffering from substance abuse addiction.

Terms of the transaction were not disclosed.

HIPAA Hat Trick: Security Violations Lead to Three Major Settlements

Posted in Healthcare Services Investing

A recent piece published by our McGuireWoods colleagues Nathan Kottkamp and Lauren Ramos is a good reminder for investors about the real risk of HIPAA violations.

HIPAA violations are among the most frequent issues we see in healthcare private equity deal diligence, and we are very comfortable taking a practical and realistic approach to rectifying the noncompliance.

To access the column, click here.

Chicago Pacific Founders Closes Inaugural Fund at $325 Million

Posted in Healthcare Services Investing

Chicago Pacific Founders has announced it has closed its debut fund.

The fund was oversubscribed at its $325 million hard cap.

Chicago Pacific Founders, based in Chicago, primarily invests in middle-market healthcare companies focusing on care service delivery.

The firm has deployed capital along three investment platforms to date: CPF Living Communities, Marquee Dental Partners and Recovery Ways.

Healthcare & Life Sciences Private Equity Deal Tracker: Warburg Pincus to Acquire Stake in Hygenia

Posted in Life Sciences Investing

Warburg Pincus has announced it will invest in Hygenia.

Warburg Pincus, headquartered in New York, is a PE firm that takes a long-term perspective and invest in businesses at all stages of development. It invests healthcare and several other sectors.

Hygenia, based in Camarillo, Calif., is a microbiology and life science company that serves healthcare and other sectors. It manufactures and sells a range of rapid hygiene monitoring systems, environmental collection systems and rapid dilution devices.

Terms of the transaction were not disclosed.

Healthcare & Life Sciences Private Equity Deal Tracker: Thoma Bravo to Acquire Healthcare IT Security Company Imprivata for $544 million

Posted in Healthcare Services Investing

Thoma Bravo has announced it will acquire Imprivata for approximately $544 million.

Thoma Bravo, with offices in Chicago and San Francisco, is a PE firm that invests with a particular focus on application and infrastructure software and technology-enabled services.

Imprivata, based in Lexington, Mass., is a healthcare IT security company founded in 2002. The company says its platform addresses critical compliance and security challenges while improving productivity and the patient experience.

Healthcare & Life Sciences Private Equity Deal Tracker: RoundTable Healthcare Partners Completes Acquisition of Symmetry Surgical

Posted in Healthcare Services Investing

RoundTable Healthcare Partners has announced it has closed on its acquisition of Symmetry Surgical.

RoundTable is an operating-oriented firm focused exclusively on the healthcare industry. The company, based in Lake Forest, Ill., targets middle-market investments.

Symmetry Surgical, based in Antioch, Tenn., is a marketer of reusable, reposable and single-use surgical instrumentation and specialty devices.

Symmetry represents the second equity investment from RoundTable’s $650 million Fund IV.

Learn more about RoundTable and other leading PE firms that invest in healthcare here.