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The Healthcare Investor

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

Focus Healthcare Partners Closes $312 Million PE Fund

Posted in Healthcare Services Investing

Focus Healthcare Partners has announced the closing of its first discretionary private equity fund with $312 million.

Focus Senior Housing Fund I LP will target senior housing properties across the continental United States. It expects to invest approximately $900 million into senior housing assets over the next several years.

Focus, based in Chicago, is real estate investment firm that targets the North American healthcare real estate sector. The firm primarily makes direct equity, mezzanine debt and preferred equity investments in senior housing, skilled nursing, medical office and other specialty healthcare properties.

Healthcare & Life Sciences Private Equity Deal Tracker: Pamlico Invests in Becker’s Healthcare

Posted in Healthcare Services Investing

Pamlico Capital has announced it has invested in Becker’s Healthcare.

Becker’s Healthcare, based in Chicago, is an information and media platform targeting specific healthcare verticals: hospitals, ambulatory surgery centers, spine and orthopedics, and infection control and clinical quality. It is well known for its Becker’s Hospital Review and Becker’s ASC Review publications and conferences.

Pamlico, based in Charlotte, N.C., is a private PE firm that considers a wide range of investments in the lower to middle market. The firm seeks minority and control equity investments in healthcare and other industries.

Terms of the investment were not disclosed.

Healthcare & Life Sciences Private Equity Deal Tracker: Intelligent Retinal Imaging Systems Closes Round of Series B Financing

Posted in Healthcare Services Investing

Intelligent Retinal Imaging Systems (IRIS) has announced it has successfully closed a round of Series B financing.

IRIS, based in Pensacola, Fla., is a developer of early detection systems for diabetic eye disease.

The financing round was led by Ballast Point Ventures, a later-stage venture capital and growth equity firm based in Tampa, Fla. Ballast Point invests in privately owned companies in the healthcare and technology industries.

IRIS indicated that the funds raised will be used to support the company’s expansion and growth strategy.

Baird Capital Closes Global Fund at $310 Million

Posted in Healthcare Services Investing

Baird Capital has announced it has closed its first global fund with a total of approximately $310 million.

The fund invests in lower middle-market companies in healthcare and other sectors in the United States, United Kingdom and Asia.

Baird Capital, based in Chicago, is the direct investment arm of Robert W. Baird & Co. It makes private equity, venture capital and growth equity investments in healthcare and other targeted sectors.

Healthcare companies in Baird’s current portfolio include Alpha Source, a provider of solutions for medical equipment maintenance and service, medical device battery manufacturing and medical equipment parts distribution, and New Vitality, a direct marketer of supplements and personal care products.

Healthcare & Life Sciences Private Equity Deal Tracker: GTCR Acquires GreatCall

Posted in Healthcare Services Investing

GTCR has announced it will acquire GreatCall.

GTCR, founded in 1980 and based in Chicago, is a PE firm that invests in a number of sectors, including healthcare. Since its inception, GTCR has invested more than $12 billion in over 200 companies.

GreatCall, headquartered in San Diego, is a provider of connected health and personal emergency response services for active aging.

The transaction is expected to close in the third quarter of 2017. Terms were not disclosed.

Healthcare & Life Sciences Private Equity Deal Tracker: Cressey Acquires StatLab Medical Products from Prairie Capital

Posted in Healthcare Services Investing

Cressey & Co. has acquired a majority ownership position in StatLab Medical Products from Prairie Capital, according to a news release.

StatLab, based in McKinney, Texas, is a developer and manufacturer of diagnostic supplies for the anatomic pathology laboratory industry.

Cressey & Co., with offices in Chicago and Nashville, seeks control and minority equity investments exclusively in healthcare. The firm considers a wide range of investments in middle-market companies.

Prairie Capital, based in Chicago, is a PE firm focusing on the lower end of the middle market. It seeks to make control and select minority investments, typically in support of companies undergoing an ownership change.

No financial terms were disclosed.

Outcome Health Raises $5 Billion in Financing

Posted in Healthcare Services Investing

Outcome Health has announced it has completed its first round of funding, raising $5 billion in financing.

Outcome Health, based in Chicago and founded in 2006, serves health information and health intelligence intended to help patients and physicians make educated healthcare decisions.

The company says the financing will be used to support the expansion of its health intelligence platform, with a goal of expanding “its impact from 20% to 70% of all U.S. physician practices by 2020.” Products include the Digital Anatomy Board, an exam room technology designed to facilitate communication through 3D anatomical diagrams that physicians can annotate during patient consultations.

Investors included Goldman Sachs Investment Partners, CapitalG (Alphabet’s growth equity investment fund), Leerink Transformation Partners, Pritzker Group Venture Capital and Balyasny Asset Management.

Healthcare & Life Sciences Private Equity Deal Tracker: Shore Capital Partners Recapitalizes Behavioral Innovations

Posted in Healthcare Services Investing

Shore Capital Partners has announced the completed recapitalization of Behavioral Innovations and formation of SCP Behavioral Innovations HoldCo.

This is the first platform investment out of Shore Capital Partners Fund II, a $190 million PE fund raised in April 2017.

Behavioral Innovations (BI) provides center-based and in-home applied behavior analysis therapy, speech therapy and occupational therapy services to children ages birth through 18 with autism spectrum disorder and other related developmental disabilities. BI has 13 centers in Texas and in-home services in the Oklahoma City area.

Shore Capital Partners, founded in 2009 and based in Chicago, is a PE firm focused exclusively on microcap healthcare investments.

Healthcare & Life Sciences Private Equity Deal Tracker: Mediware Acquires Kinnser Software

Posted in Healthcare Services Investing

Mediware Information Systems has announced it will acquire Kinnser Software from Insight Venture Partners.

The transaction is backed by TPG Capital.

Mediware, based in Lenexa, Kan., is a supplier of software for human and social services, blood solutions, cellular therapy, homecare, medication management, rehabilitation, and respiratory therapy.

Kinnser, based in Austin, Texas, is a provider of software solutions for home health and hospice providers.

Insight Venture Partners, based in New York, is a PE and venture capital firm founded in 1995. It targets investments in growth-stage software, internet and data services companies.

TPG Capital, headquartered in Fort Worth, Texas and San Francisco, targets investments in middle-market companies in healthcare and a number of other industries.

The transaction is expected to close at the end of the second quarter. Terms were not disclosed.

Healthcare & Life Sciences Private Equity Deal Tracker: Harvest Partners Acquires EyeCare Services Partners Holdings

Posted in Healthcare Services Investing

Harvest Partners has announced it has acquired the majority ownership interest in EyeCare Services Partners Holdings from Varsity Healthcare Partners.

Harvest Partners, based in New York, is a PE firm investing in middle-market companies. The firm targets investments in healthcare services and a few other industries.

EyeCare Services Partners Holdings, headquartered in Dallas, provides practice management services to more than 100 ophthalmologists and optometrists in its 46 clinics and seven ambulatory surgery centers across five states.

Varsity Healthcare Partners, with offices in Los Angeles and Stamford, Conn., is a healthcare-focused PE firm targeting investments in lower middle-market companies.

Financial terms of the transaction were not disclosed.