Header graphic for print

The Healthcare Investor

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

Healthcare & Life Sciences Private Equity Deal Tracker: Sixth Street Leads $830 Million Investment Into Caris Life Sciences

Posted in Life Sciences Investing

Sixth Street has led an $830 million growth equity investment into Caris Life Sciences, according to a news release.

Caris, based in Irving, Texas, develops molecular profiling assays for oncology that scan DNA, RNA and proteins to reveal a molecular blueprint intended to help physicians and patients make more precise and personalized cancer treatment decisions.

Sixth Street, based in San Francisco, is a global investment firm. Founded in 2009, the firm’s healthcare and life sciences team provides strategic growth capital tailored to healthcare and pharma business timelines including to develop or launch new medicines, make asset acquisitions and fund strategic projects.

Silver Lake, Fidelity Management & Research Company and Coatue were significant participants in the Caris funding round. Additional investors included Columbia Threadneedle Investments, Canada Pension Plan Investment Board, Millennium Management, Neuberger Berman Funds, Highland Capital Management, Rock Springs Capital, OrbiMed, ClearBridge Investments, Tudor Investment Corp., Eaton Vance Equity (Morgan Stanley), Pura Vida Investments and First Light Asset Management.

Caris indicated in the release that it intends to use the funding for commercial expansion and investment toward delivering a liquid biopsy platform with high concordance to tissue across different modalities, including therapy selection, recurrence monitoring and early screening across all cancer types.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: Sixth Street Leads $830 Million Investment Into Caris Life Sciences

Healthcare & Life Sciences Private Equity Deal Tracker: Ascend Partners Invests in Rendr

Posted in Healthcare Services Investing

Ascend Partners has completed an equity investment in Rendr, according to a news release.

Rendr, based in New York, is multi-specialty physician group serving Asian American patients in New York City. The group states that it serves about 100,000 patients via locations across Brooklyn, Manhattan, and Queens.

Ascend Partners, based in New York, is a growth-oriented, healthcare-focused private equity firm. The firm was co-founded in 2019 by In Seon Hwang, former global head of healthcare at Warburg Pincus, and Dr. Richard Park, founder and former CEO of CityMD.

Terms of the investment were not disclosed.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: Ascend Partners Invests in Rendr

Healthcare & Life Sciences Private Equity Deal Tracker: Partners Group to Acquire Axia Women’s Health From Audax

Posted in Healthcare Services Investing

Partners Group has announced it will acquire Axia Women’s Health from Audax Private Equity.

Axia, based in Vorhees, N.J., is a national women’s healthcare provider. The company provides a platform of non-clinical business and administrative support services to a network of physician practices across the United States. Axia states it has partnered with more than 80 care centers comprising 150 locations.

Partners Group is a global private markets firm with U.S. offices in Denver, Houston and New York. The firm states that its private equity team has invested $5 billion in healthcare-related businesses since inception.

Audax, with private equity offices in Boston, New York and San Francisco, focuses on investments in middle market companies and has a wide flexibility on investment size. Founded in 1999, the firm targets companies within healthcare and several other industries, specifically those generating between $10 million and $50 million in annual EBITDA.

Terms of the acquisition were not disclosed.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: Partners Group to Acquire Axia Women’s Health From Audax

Up-and-Coming Women in PE to Know: Amanda Kim

Posted in Healthcare Services Investing

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 Amanda Kim of Avante Capital Partners. Access her profile.

To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com.

Healthcare & Life Sciences Private Equity Deal Tracker: WindRose Completes Sale of myNEXUS To Anthem

Posted in Healthcare Services Investing

WindRose Health Investors has announced it has completed the sale of myNEXUS to health benefits company Anthem.

myNEXUS, based in Brentwood, Tenn., is a post-acute benefits management company. The company states that it delivers integrated clinical support services for Medicare Advantage members in 20 states.

WindRose, based in New York, pursues control equity investments in healthcare companies. Founded in 2000, the firm invests in a broad range of industry segments, including outsourced services to payors and health systems, technology-enabled services, healthcare providers and value-added distribution.

Terms of the transaction were not disclosed.

WindRose’s announced its intention to sell myNEXUS to Anthem in March.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: WindRose Completes Sale of myNEXUS To Anthem

Healthcare & Life Sciences Private Equity Deal Tracker: Carlyle Group Acquires Unchained Labs for $435 Million

Posted in Life Sciences Investing

The Carlyle Group has announced it has agreed to acquire Unchained Labs for $435 million.

Unchained Labs, based in Pleasanton, Calif., is a producer of life sciences tools. Founded in 2015, the company focuses on solving problems for biologics and gene therapy researchers.

The Carlyle Group, with its U.S. headquarters in Washington, D.C., is a global investment firm that deploys private capital across three business segments: global private equity, global credit and investment solutions. Founded in 1987, the firm targets companies in healthcare and many other industries.

The Carlyle Group is acquiring Unchained Labs from Novo Holdings, Canaan Partners and TPG Biotech.

The transaction is expected to close in Q2 2021.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: Carlyle Group Acquires Unchained Labs for $435 Million

Northlane Capital Closed Fund With $408 Million

Posted in Healthcare Services Investing

Northlane Capital Partners (NCP) has announced it has closed its latest fund — Northlane Capital Partners II — with $408 million in total commitments.

The fund exceeded its target of $375 million, the firm reported.

NCP, based in Bethesda, Md., is a middle market private equity firm focused on healthcare and business services. Founded in 2003, the firm seeks investments in North American companies with EBITDA of $5 million to $30 million.

Women in PE to Know: Yichen Feng

Posted in Healthcare Services Investing

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 Yichen Feng of Lumos Capital. Access her profile.

To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com.

Healthcare & Life Sciences Private Equity Deal Tracker: WindRose Recapitalizes Bluestone Physician Services

Posted in Healthcare Services Investing

WindRose Health Investors has announced it has completed an equity recapitalization of Bluestone Physician Services.

Bluestone, based in Stillwater, Minn., is a provider of residential primary care services. Founded in 2006, delivers on-site care and care coordination services to high-risk, geriatric and disabled patients in senior living, community and home-based settings in four states: Minnesota, Wisconsin, Florida and Virginia.

WindRose, which is based in New York, pursues control equity investments in healthcare companies. Founded in 2000, the firm invests in a broad range of industry segments, including outsourced services to payors and health systems, technology-enabled services, healthcare providers and value-added distribution.

Terms of the equity recapitalization were not disclosed.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: WindRose Recapitalizes Bluestone Physician Services

Healthcare & Life Sciences Private Equity Deal Tracker: Pharos Capital Acquires Providence Home Health and Hospice

Posted in Healthcare Services Investing

Pharos Capital Group has announced its post-acute care provider platform, Charter Health Care Group, has acquired The Providence Hospice and The Providence Home Health Services, together referred to as Providence Home Health and Hospice.

Providence Home Health and Hospice, based in Sugar Land, Texas, is a provider of in-home hospice, palliative care, skilled nursing, physical therapy and other related services. Founded in 2006, the company provides hospice and home health services to patients and their families in nearly 100 communities in the Greater Houston area.

Pharos Capital Group, with offices in Dallas and Nashville, pursues control equity and mezzanine investments in lower and middle market companies primarily in healthcare and business services. Founded in 1998, the firm targets the provider services and non-reimbursement industries within healthcare.

Terms of the acquisition were not disclosed.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: Pharos Capital Acquires Providence Home Health and Hospice

We use cookies to enhance your experience of our website. By continuing to use this website, you agree to the use of these cookies. For more information and to learn how you can change your cookie settings, please see our policy.

Agree