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The Healthcare Investor

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

Lorient Capital Closes Healthcare Fund With $122 Million

Posted in Healthcare Services Investing

Lorient Capital Management announced the closing of the Lorient Healthcare Fund at its hard cap of $122 million.

The fund will seek to invest $10-$25 million of equity capital into healthcare companies in the areas of physician practice management, post-acute care, behavioral health and outsourcing.

Lorient Capital, based in Birmingham, Mich., is a private investment firm focused solely on healthcare. The firm seeks investments in micro, middle-market companies.

9 Trends Driving The Expansion Of Women In Private Equity

Posted in Healthcare Services Investing

Over the past several years, there has been a renewed discussion about the dearth of women in private equity firms and a new energy for making change. Private equity firms recognize that in the shifting landscape of new limited partner players, evolving target company leadership and focus and a shifting role of women generally in the U.S. economy, long-term success hinges on the recruitment, advancement and retention of women in private equity. Although the portion of executive-level women in private equity has grown steadily in recent years, the progress has not been fast enough for many stakeholders and further improvement seems to be nearly universally desired. …

To continue reading this Law360 column, co-written with my colleagues Amy Norris and Penny Zacharias, click here.

Women in Private Equity to Know: Kallie Hapgood

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 profiling women leaders in private equity throughout 2018. 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. This month, as our final profile of the year, we are pleased to feature Kallie Hapgood of Gridiron Capital. Access her profile by clicking here.

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

Healthcare & Life Sciences Private Equity Deal Tracker: Rockwood Completes Management Buyout of SYNEO

Posted in Healthcare Services Investing

Rockwood Equity Partners has announced it completed a management buyout of SYNEO.

SYNEO, headquartered in West Palm Beach, Fla., is a provider of manufacturing equipment, cutting tools and services for the medical device and electronics manufacturing industries. The company’s primary solutions serve catheter, guidewire and minimally invasive medical device applications.

Rockwood, headquartered in Cleveland, is a lower-middle-market private investment firm. The firm targets companies in healthcare and a few other sectors with $10 million to $75 million in revenue and $2 million to $7 million of EBITDA.

Register Today: 16th Annual Healthcare and Life Sciences Private Equity and Finance Conference

Posted in Industry Events and Announcements

Registration is now open for the McGuireWoods & RSM US 16th Annual Healthcare and Life Sciences Private Equity and Finance Conference, which will take place February 20–21. The conference is being held at the Four Seasons Hotel in Chicago. This year’s keynote speakers are Ezra Klein, editor-at-large of Vox.com; Ari Fleischer, former White House Press secretary, political commentator and president of Ari Fleischer Communications; and Monica Mehta, managing principal of Seventh Capital.

This meeting typically draws more than 800 attendees, most of whom are private equity sponsors, healthcare and life sciences operators, lenders and some vendor representatives. Additional information and the registration form is available at our conference website at www.healthcareprivateequity.com.

This year, we have sponsorships from:

Additionally, we are pleased to host this year’s Women in Private Equity and Finance breakfast on the second day of the conference with Women’s Association of Venture & Equity.

If readers are interested in attending, please contact Amber Walsh at awalsh@mcguirewoods.com or Geoff Cockrell at gcockrell@mcguirewoods.com.

Up-and-Coming Women in PE to Know: Rebecca Yu

Posted in Healthcare Services Investing

McGuireWoods has launched a new, yearlong effort to profile up-and-coming women leaders in private equity. This new profile series complements our existing Women Leaders in Private Equity profile series, which will continue throughout 2019. To kick off this series, we are pleased to feature Rebecca Yu of BelHealth Investment Partners. Access her profile.

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

Martis Capital Plans $450 Million Healthcare Fund

Posted in Healthcare Services Investing

Martis Capital is aiming to raise $450 million for its third fund, according to an SEC filing.

The firm, with offices in Palo Alto, Calif., and Washington, D.C., seeks buyout and growth equity opportunities in middle-market companies in the healthcare sector.

Areas of focus are services and outsourcing; information technology; consumer and wellness; and products and diagnostics.

Healthcare & Life Sciences Private Equity Deal Tracker: Enhanced Healthcare Partners Invests in Eventus WholeHealth

Posted in Healthcare Services Investing

Eventus WholeHealth has announced it has secured an investment from Enhanced Healthcare Partners.

Eventus, based in Charlotte, N.C., is an on-site, primary care and ancillary service provider of integrated whole-health care for residents and patients of post-acute care facilities.

Enhanced Healthcare Partners, based in New York, is a healthcare-focused private equity firm. Founded in 2005, the firm seeks to invest $10 million to $50 million or more in the life of a company.

Eventus indicated that the funding would be used to support the company’s strategic growth initiatives, which will include merger and acquisition opportunities.

Terms of the transaction were not disclosed.

WindRose Closes Healthcare PE Fund at $705 Million

Posted in Healthcare Services Investing

WindRose Health Investors has announced it has closed its fifth fund with $705 million.

WindRose, formerly MTS Health Investors, is a New York-based private equity (PE) firm which invests in services sectors of healthcare. The firm pursues investments in businesses ranging from $25 million to $300 million in enterprise value. Transaction structures include buyouts, recapitalizations, corporate carve-outs and growth equity investments.

The new fund, WindRose Health Investors V, will continue WindRose’s focus on healthcare. WindRose indicated that the fund was oversubscribed and closed at its fundraising cap.

Forbes Identifies 10 Biggest Healthcare PE Deals of 2018

Posted in Uncategorized

In an end-of-the-year round-up, Forbes lists the 10 biggest private equity deals in healthcare in 2018.

The article notes that 2018 was a banner year for healthcare PE, with 715 deals closed as of mid-December for a combined value of nearly $104, citing PitchBook data. That’s up from the 709 deals worth about $89 billion in 2017.

The three biggest deals of 2018 were 1) KKR’s acquisition of Envision Healthcare; 2) Veritas Capital’s acquisition of athenahealth; and 3) Apollo Global Management’s acquisition of LifePoint Health.

View the complete top 10 list.

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