In this episode of The Corner Series, Geoff Cockrell, McGuireWoods partner and host, is joined by Chris Day, CFO of Growth Orthopedics. Chris shares how Growth Orthopedics’ platform is expanding into underserved markets through a hub-and-spoke model, extending clinics up to two hours from surgical centers to increase access to care.

Tune in for his insights about how private equity investment improves healthcare access and why the wave of retiring baby boomer physicians will fuel continued consolidation.

Bain Capital and Kohlberg have completed a strategic investment in PCI Pharma Services, according to a news release.  

PCI, established in 1971 and trading as Packaging Coordinators Inc. (PCI), is a Philadelphia-based global contract development and manufacturing organization that provides drug development, manufacturing and packaging solutions. 

Kohlberg, the existing lead investor in PCI, was founded in 1987 and is based in Mount Kisco, New York. It is a private equity firm that invests in healthcare services, pharmaceutical/medical products and services, and several other sectors. The firm pursues a range of investment types and seeks to invest in companies with an enterprise value of $500 million to $4 billion that generate $50 million to $250 million in EBITDA.

Bain Capital Private Equity, founded in 1984 and based in Boston, focuses on making control and minority equity investments and prefers to make more substantial investments from a dollars perspective. The firm invests in healthcare and several other industries. Within healthcare, Bain Capital Private Equity targets companies in the provider services, hospital/major facilities, life sciences/pharmaceutical and non-reimbursement industries.

Bain and Kohlberg were supported with significant reinvestment by Mubadala Investment Company and a minority investment from Partners Group, according to the release.

Terms of the investment were not disclosed.

Northlane Capital Partners (NCP) has announced the sale of The Difference Card (TDC) to funds managed by Stone Point Capital.

TDC, founded in 2001 and based in Mount Kisco, New York, is a provider of solutions designed to enable employers to reduce healthcare insurance costs without reducing employees’ benefit levels or increasing employees’ out-of-pocket expenses.

NCP, founded in 2003 and based in Bethesda, Maryland, is a middle market private equity firm focused on healthcare and business services. The firm seeks to make equity investments of $25 to $150 million in North American companies with EBITDA of $5 million to $30 million. 

Stone Point, founded in 1985 and based in Greenwich, Connecticut, is a private equity firm, investing in businesses within the global financial services industry.

Terms of the transaction were not disclosed.

HealthpointCapital has announced the acquisition of ImmersiveTouch.

ImmersiveTouch, founded in 2005 and based in Chicago, is the developer of suite of solutions for surgical planning and skills training using virtual and augmented reality.

HealthpointCapital, founded in 2002 and based in San Diego, is a private equity firm focused exclusively on musculoskeletal healthcare.

Terms of the acquisition were not disclosed.

What is a white-hot market in healthcare tech? Governance, risk and compliance (GRC), says Bill Watts, who leads the healthcare tech group at Brown Gibbons Lang & Company. He also lists supply chain for pharma and drug commercialization and employer tech.

In this conversation with McGuireWoods partner and host Geoff Cockrell, Bill unpacks how today’s health tech investment landscape has evolved post-pandemic, with investors pursuing different strategies as deal volume normalizes. Tune in for his insights about mixed business models, deal activity so far this year and the commercial prospects for AI.

JLL Partners has announced an investment in Vascular Technology (VTI).

VTI, founded in 1985 and based in Nashua, New Hampshire, develops, manufactures and sells surgical devices, including intraoperative Doppler products and surgical suction irrigation systems.

JLL Partners, founded in 1988 and based in New York, is a middle market private equity firm that targets companies in healthcare and a few other sectors.

Terms of the investment were not disclosed.

VeraNorth Capital Management has announced the launch of VeraNorth Healthcare Private Equity Fund.

The fund targets U.S. lower middle market healthcare services providers through growth equity and traditional buyout strategies.

Coinciding with the launch of the fund, VeraNorth has acquired RN Express Registry. RN Express, founded in 2009 and based in New York, is a clinical staffing company serving healthcare facilities across Manhattan, New York.

VeraNorth, founded in 2017 and based in Houston, is a private equity and investment management firm specializing in control-oriented healthcare investments.

Terms of the acquisition were not disclosed.

The Riverside Company has announced it has sold The Marena Group to CenterGate Capital.

Marena, founded in 1994 and based in Lawrenceville, Georgia, is a manufacturer of medical-grade compression garments, specializing in post-surgical recovery solutions for invasive and non-invasive surgeries, mastectomy, maternity and post-pregnancy, and lipedema. 

Riverside, founded in 1988 and co-headquartered in Cleveland and New York, focuses on acquiring and investing in growing businesses valued at up to $400 million. The firm seeks control, non-control and growth equity investments across several industries, including healthcare. Riverside pursues companies across multiple segments of healthcare, including services, information technology, products and distribution.

CenterGate, founded in 2014 and based in Austin, Texas, is a private equity firm that specializes in lower mid-market investments in healthcare and a few other sectors. The firm targets companies with between $5 million and $30 million in EBITDA and focuses on control equity investments.

Terms of the transaction were not disclosed.