Header graphic for print

The Healthcare Investor

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

NovaQuest Closes New PE Fund With $275 Million

Posted in Healthcare Services Investing

NovaQuest Private Equity has reached its hard cap of $275 million in capital commitments for a new private equity (PE) fund, according to a news release.

NovaQuest Private Equity Fund I targets tech-enabled healthcare solutions and pharmaceutical services investments.

NovaQuest Private Equity is the PE group of NovaQuest Capital Management. Based in Raleigh, N.C., and formed in 2000, NovaQuest Capital Management provides strategic capital to life science and healthcare companies.

The firm stated it has already completed three platform investments and two add-on acquisitions out of its new PE fund, including investments in Azurity Pharmaceuticals, Clinical Ink and Catalyst Clinical Research.

Women in PE to Know: Cindy Babitt and Beth Haas

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 Cindy Babitt and Beth Haas of Cyprium Partners. Access their profiles by clicking here.

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

Vivo Capital Closes Ninth Fund With $1.43 Billion

Posted in Healthcare Services Investing

Vivo Capital has announced the closing of its ninth fund with $1.43 billion in committed capital.

The firm indicated it plans to use these funds to invest in and build healthcare and life science companies.

Founded in 1996 and based in Palo Alto, Calif., Vivo is a healthcare-focused investment firm. It has raised more than $4 billion in capital and backed more than 200 private and public portfolio companies since its inception.

A View From the Top: Andy Blankemeyer of Beacon Orthopaedics & Sports Medicine

Posted in Healthcare Services Investing

Please see below for the third installment of our interview series, A View From the Top. This series features interviews with C-suite leadership of private equity-backed portfolio companies. This installment features Andy Blankemeyer, CEO of Beacon Orthopaedics and Sports Medicine. The previous installment, featuring Scotte Hudsmith of Smile Doctors, is available here. To recommend a leader for a future interview, email Holly Buckley at hbuckley@mcguirewoods.com.

As a reminder, our 17th annual Healthcare and Life Sciences Private Equity and Finance Conference is February 19 and 20 in Chicago. The save the date is available here. Please contact us for more information or to indicate an interest in participating on a panel.

Q: What do you believe is the most significant current challenge to growing your business and what will be necessary to overcome it?

Andy Blankemeyer: The orthopedics space backed by private equity is in its infancy. We were one of the first major orthopedic platforms in partnership with Revelstoke Capital Partners.

I think the biggest challenge to growing our business is education, more specifically, education for the physicians and administrative leadership of potential partner orthopedic groups, regionally and nationally, to better understand the model we’re developing and how it differs from previous consolidation efforts back in the 1990s.

Q: What plans do you have to further grow your business and what will be necessary to achieve this growth?

AB: We want to become a regional and potentially national orthopedic management services organization. We want to take our skill sets and knowledge, as well as the skill sets and knowledge of other partner groups that we consolidate with, to help drive our three key differentiators: quality, access and value. We want to provide high-quality orthopedic care that is readily available to any patient, such as by offering extended and weekend hours, for a cost-effective rate.

That’s our ultimate goal. We believe there are a lot of other independent and current hospital-employed doctors in our region and around the country who are looking for the administrative support necessary to maintain their independence and clinical autonomy.

Q: What is your best tip for recruiting physician talent?

AB: It’s all about putting the physician in the driver’s seat. We need to have a physician-led and -driven consolidation effort to make this work. We must allow physicians to run their clinical practices the way they have run them for years, without the interference of overreaching administration like myself. They need to be motivated, engaged and incentivized to run an efficient and busy practice.

Our recruitment strategy is to give physicians the platform required to do just that and have all the back-office, administrative and contracting work done for them. This will allow these physicians to focus on the patient and run the effective clinical practice they want rather than being told what to do by either a hospital partner or market forces that are out of their control.

Q: What characteristics do you look for in administrative leaders within your organization?

AB: Orthopedics is a very fast-paced environment. It’s constantly changing. When we’re looking at administrative leaders, we are looking for people who understand that what they are doing today might not be what they are doing tomorrow. They need that flexible and driven mindset that allows them to pick up new initiatives and push them toward implementation. We need leaders who are able to act quickly and enact positive change for the organization.

Q: What do you think is the key to retaining your talent?

AB: It’s all about empowerment — empowering them to lead the organization to the best of their ability following a well-communicated, companywide strategic roadmap.

About Andy Blankemeyer

Andy Blankemeyer is the chief executive officer of Beacon Orthopaedics and Sports Medicine. Prior to becoming CEO in 2016, he served in multiple roles for the organization, including chief operating officer for seven years. In 2019, Blankemeyer became the CEO of a new orthopedic management services organization, formed by Beacon and Revelstoke Capital Partners.

Blankemeyer is a graduate of the Xavier University, having earned a master’s degree in healthcare administration. He serves on the executive board for the Andy and JJ Dalton Foundation, the data governance committee at the Health Collaborative and the payer contracting and financial operations committee for TriHealth’s PHO. He is also a member of the Xavier HSA advisory board.

To contact Andy Blankemeyer, email ablankemeyer@beaconortho.com.

TweetLikeEmailLinkedIn
Comments Off on A View From the Top: Andy Blankemeyer of Beacon Orthopaedics & Sports Medicine

Women in PE to Know: Caroline Young

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 Caroline Young of Hammond, Kennedy, Whitney & Company. Access her profile by clicking here.

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

Private Equity in Healthcare – An Updated Review of Selected Niche Investment Areas

Posted in Healthcare Services Investing

Private equity investment in healthcare has continued to evolve since McGuireWoods examined various niche investment areas last year. Overall, valuations remain high, consolidation continues and the investment community is eyeing up larger buyers.

Please download this new McGuireWoods white paper for analysis of the current market and updated observations and insights on 19 key investment niches.

TweetLikeEmailLinkedIn
Comments Off on Private Equity in Healthcare – An Updated Review of Selected Niche Investment Areas

Up-and-Coming Women in PE to Know: Becca Schlagenhauf Stull

Posted in Healthcare Services Investing

McGuireWoods is undertaking a yearlong effort to profile up-and-coming women leaders in private equity. This profile series complements our existing Women Leaders in Private Equity profile series, which will continue throughout 2019. For this profile, we are pleased to feature Becca Schlagenhauf Stull of Northwestern Mutual Capital. Access her profile.

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

Launch of Leading Private Equity Investors in Healthcare Website

Posted in Industry Events and Announcements

The McGuireWoods Healthcare Private Equity Team previously published a multi-part series highlighting some of the more active private equity (PE) investors in the healthcare space. Since the original publication, we have seen even more PE investors turn toward healthcare investments, new healthcare-focused funds form and healthcare PE deal activity continue at a staggering pace. Thus, we have decided to launch the Leading Private Equity Investors in Healthcare website.

The site highlights investors in a more current format. Please take a moment to check it out here and keep in mind that there will always be an option to suggest new investors, or to provide an update to your firm’s information (instructions on the site). We hope you’ll find this to be a valuable tool from our team as part of our ongoing service to the healthcare PE community.

Enhanced Healthcare Partners Closes New Fund With $300 Million

Posted in Healthcare Services Investing

Enhanced Healthcare Partners (EHP) has announced the closing of a new fund, with $300 million of committed capital and access to $600 million in total equity.

The firm will use the fund — Enhanced Healthcare Partners, L.P. — to pursue investments in lower middle market healthcare companies, specifically North American businesses with between $50 million and $250 million in enterprise value and within the physician services, pharma services, payor services and healthcare technology sectors.

Based in New York, EHP makes minority and majority investments in founder- and entrepreneur-led lower middle market companies. The firm employs a flexible investment strategy and seeks to invest $10 million to $50 million or more over the life of a portfolio company in a variety of flexible structures.

Healthcare & Life Sciences Private Equity Deal Tracker: Cimarron Acquires Infusion Management

Posted in Healthcare Services Investing

Cimarron Healthcare Capital (CHC) has acquired Infusion Management, according to a news release.

Infusion Management, headquartered in Thousand Oaks, Calif., is an infusion therapy management services organization providing services to Infusion for Health, a provider of infusion treatment services to patients in the Los Angeles market.

Founded in 2014, CHC is a private equity firm focusing on healthcare investments in the lower middle market. Based in Salt Lake City, Utah, CHC targets companies with $5 million to $75 million in revenue and up to $15 million of EBITDA for $5 million to $25 million equity investments.

Financial terms of the transaction were not disclosed.

TweetLikeEmailLinkedIn
Comments Off on Healthcare & Life Sciences Private Equity Deal Tracker: Cimarron Acquires Infusion Management

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