The pharmaceutical services industry has piqued the interest of private equity investors over the last five to 10 years as more drugs move into development and high-quality science continues to grow.
On this episode of The Capital Corner, McGuireWoods’ Geoff Cockrell sits down with Dr. Bijan Salehizadeh, managing director at NaviMed Capital, to discuss the latest developments in the pharma services space within healthcare private equity.
Trinity Hunt Partners has announced it has acquired Supreme Optimization.
Supreme, founded in 2015, is a digital marketing agency focused on the life sciences industry. Services include web development and design, digital strategy, paid advertising and social media.
Trinity Hunt, based in Dallas, is a growth-oriented private equity firm that targets small-cap companies in healthcare and a few other industries. Founded in 1993, the firm typically invests between $15 million and $50 million in companies with between $4 million to $25 million of EBITDA.
Terms of the transaction were not disclosed.
HCAP Partners has completed an investment in Xevant, according to a news release.
Xevant, founded in 2016 and based in Lehi, Utah, is the developer of an analytics platform for pharmacy benefit professionals.
HCAP Partners, based in San Diego, is a private equity firm that provides growth capital to lower middle market companies throughout California and the Western United States. Founded in 2000, the firm seeks to invest $2 million to $15 million in businesses generating between $10 million and $100 million in revenues in healthcare and a few other industries.
Terms of the investment were not disclosed.
Patriot Capital has announced it has made a growth capital investment into Turnwell Mental Health Network.
Turnwell, based in Dallas, is an integrated mental health group that operates freestanding outpatient clinics across Arizona and Montana. Services include mental health counseling, primary care, and patient and family education.
Patriot, based in Baltimore, focuses on debt capital and minority equity investments in middle market companies. Founded in 2001, the firm wide flexibility on investment size, targeting companies from a variety of sectors that are typically based in Mid-Atlantic, with a focus on Baltimore area, Midwest and Southern United States.
Terms of the investment were not disclosed.
Gauge Capital has announced it has invested in Streamline Healthcare Solutions.
Streamline, based in Oak Brook, Ill., is a provider of electronic health record software primarily serving behavioral health providers and state and local departments of health. Founded in 2003, the company is the developer of the SmartCare platform and serves a range of behavioral health end-markets, including mental health, substance abuse and developmental disability.
Gauge, based in Southlake, Texas, is a middle market private equity firm that invests in healthcare and other sectors. Founded in 2013, Gauge typically commits $20 million to $100 million in each platform investment and targets companies with $5 million to $40 million in EBITDA.
Terms of the investment were not disclosed.
Arsenal Capital Partners has announced it has sold Airnov Healthcare Packaging to Colorcon.
Airnov, with manufacturing facilities in the United States and a few other countries, is a producer of consumables used to protect healthcare products from moisture and oxygen. The company’s products including drop-ins such as canisters and packets, integrated desiccant systems and plastic bottles containing oxygen barrier materials.
Arsenal, based in New York, is a private equity firm specializing in investments in middle market healthcare and specialty industrials companies. Founded in 2000, the firm seeks control investments in companies with the capacity to use $50 million to $300 million of equity, including add-on acquisitions.
Colorcon, based in Harleysville, Pa., develops, supplies and provides technical support of formulated film coating systems, modified release technologies and functional excipients for the pharmaceutical, nutritional and animal health industries.
Terms of the transaction were not disclosed.
Thompson Street Capital Partners (TSCP) has announced it has completed a growth investment in OpenClinica.
OpenClinica, based in Waltham, Mass., is a clinical research solutions provider. Founded in 2004, the company supports biopharmaceutical companies, contract research organizations, academic institutions and government agencies.
TSCP, based in St. Louis, Mo., targets investments in middle market companies. Founded in 2000, the firm typically invests in healthcare and a few other sectors. Within healthcare, areas of interest include pharmaceutical logistics, connected health, and regulatory and compliance.
Terms of the investment were not disclosed.
On this episode of The Banker’s Corner, McGuireWoods’ Geoff Cockrell invites Mikel Parker, a head of investment banking and managing director at AMB, to discuss current valuation trends in healthcare IT and other subsectors.
During their discussion, Mikel pinpoints four main sectors within the concentrated field and the two types of buyers he comes across in his work. Tune in to learn why healthcare IT continues to prove profitable and why companies are shifting from transaction-based models to recurring-based models.
RLH Equity Partners has completed a growth equity investment in Connors Group, according to a news release.
Connors Group, based in Canonsburg, Pa., is a management consultancy specializing in workforce performance and productivity improvement. Founded in 2008, the company provides services to the healthcare industry and a few other industries.
RLH, with two offices in California, is a private equity firm that pursues investments in healthcare and a few other sectors. Founded in 1982, companies in its portfolio typically have $30 million to $150 million of annual revenue at the time of RLH’s investment.
Terms of the investment were not disclosed.
McGuireWoods has long been an avid supporter of the advancement of professional women. As part of our initiative seeking to expand the leadership of women in private equity, we are continuing our series of profiling women leaders in private equity. We are hopeful that this series will serve to inspire other women to pursue their careers in private equity in a way that best challenges and motivates them, which these impressive women have all done. We are pleased to feature Elizabeth “Liz” Weindruch of Barings. Access her profile.
To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com.