The Healthcare Investor

Veritas Capital announced that one of its affiliates has completed the acquisition of GE Healthcare’s enterprise financial management, ambulatory care management and workforce management assets for $1.05 billion in cash.

The businesses will be jointly operated as a standalone company.

Veritas, based in New York, is private equity firm with over $9.5 billion of assets under management. The firm invests in several sector, including healthcare.

GE Healthcare is the healthcare business of GE.

News of the acquisition follows the announcement of the agreement between Veritas and GE in April 2018.

Cressey & Company has announced the closing of its sixth fund, Cressey & Company Fund VI, at $995 million.

The company also announced the closing of a $105 million co-investment fund.

Cressey, with offices in Chicago and Nashville, seeks control and minority equity investments in middle-market companies exclusively in healthcare.

The firm indicated it would use the $1.1 billion in new capital commitments to support investing in and building healthcare services and information technology businesses in North America.

Parachute Health has announced it has secured $9.5 million in new funding.

The funding round was led by Harley Miller and Dan Ahrens of Insight Venture Partners and includes investments from GNYHA Ventures, the business arm of the Greater New York Hospital Association, and Anthony Welters, formerly of UnitedHealth Group.

Parachute Health, based in New York, is a healthcare technology platform designed to assist with the ordering of medical equipment and services for patients following discharge from a hospital.

The company indicated that the money from the funding round will be used to expand its ePrescribing platform into key U.S. markets.

Parachute previously announced in March that it had raised $5.5 million from investors including Loeb Holding Corp.

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, we are pleased to feature Maureen Spivack of New State Capital Partners. Access her profile by clicking here.

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

Linden Capital Partners has announced the closing of its fourth private equity fund with $1.5 billion.

Linden Capital Partners IV was oversubscribed, exceeding a $1.25 billion target. The fund will target middle-market healthcare companies in sectors including services, medical products, specialty distribution and pharmaceuticals.

Linden Capital, based in Chicago, is a PE firm focused exclusively on leveraged buyouts in the healthcare and life sciences industries.