Bain Capital Private Equity has announced it will acquire a majority stake in InnovaCare Health.

InnovaCare, based in White Plains, N.Y., is a provider of integrated and value-based healthcare services. InnovaCare states that its integrated primary care provider network treats more than 250,000 patients annually, and the company also supports physicians who collectively serve more than 27,000 Medicare Advantage members.

Bain Capital Private Equity, based in Boston, focuses on making control and minority equity investments and prefers to make more substantial investments from a dollars perspective. Founded in 1984, the firm invests in healthcare and several other industries, targeting companies with revenue of at least $100 million. Within healthcare, Bain Capital Private Equity targets companies in the provider services, hospital/major facilities, life sciences/pharmaceutical and non-reimbursement industries.

Summit Partners, which has been an investor in InnovaCare since 2019, will retain equity ownership in the company. With U.S. offices in Boston and Menlo Park, Calif., Summit pursues opportunities in healthcare services, healthcare technology and life sciences as well as in other growth sectors. The firm targets growth equity and fixed income investments of $10 million to more than $500 million per company.

Terms of the transaction were not disclosed.

Athenahealth has entered into a definitive agreement to be jointly acquired by affiliates of Bain Capital and Hellman & Friedman for $17 billion, according to a news release.

Athenahealth, based in Watertown, Mass., is a provider of cloud-based enterprise software solutions for medical groups and health systems.

Bain Capital Private Equity, based in Boston, focuses on making control and minority equity investments and prefers to make more substantial investments from a dollars perspective. Founded in 1984, the firm invests in healthcare and several other industries, targeting companies with revenue of at least $100 million. Within healthcare, Bain Capital Private Equity targets companies in the provider services, hospital/major facilities, life sciences/pharmaceutical and non-reimbursement industries.

Hellman & Friedman, based in San Francisco, is a private equity firm focused on making large-scale equity investments. Founded in 1984, the firm targets investments in healthcare and several other industries.

The private equity firms will purchase from Veritas Capital and Evergreen Coast Capital.

Veritas, based in New York, is a private equity firm that primarily targets technology or technology-enabled solutions for several sectors, including healthcare.

Evergreen, based in Melo Park, Calif., is the private equity subsidiary of hedge fund Elliott Management Corp. Evergreen focuses on technology investing.

Regal Healthcare Capital Partners (RHCP) has announced the closing of its third fund with $415 million of committed capital.

RHCP III exceeded its $325 million target.

Regal, based in New York, is a healthcare private equity firm focused exclusively on investments in healthcare services companies. Founded in 2018, the firm prefers to make equity investments of $20 million to $70 million in each opportunity, with target investments ranging from $20 million to $100 million of revenue.

With Regal’s first two funds, which were raised in February 2018 and July 2019, Regal states it now manages a committed capital base exceeding $665 million.

Cressey & Co. has completed a growth investment in Trella Health, according to a news release.

Trella Health, based in Atlanta, provides market intelligence to direct contracting entities, accountable care organizations, healthcare networks and post-acute care providers.

Cressey, with offices in Chicago and Nashville, seeks control and minority equity investments exclusively in healthcare. Established in 2008, the firm considers a wide range of investments in middle market companies.

Joining Cressey in the investment was the company’s current lead investor, Panoramic Ventures (previously BIP Capital).

Terms of the investment were not disclosed.

Lightyear Capital has announced it has closed its fifth flagship private equity fund, Lightyear Fund V, with approximately $1.6 billion in capital commitments.

The firm indicated that this figure is 25% larger than the $1.25 billion target and more than 60% larger than the $957 million raised in Lightyear Fund IV.

Lightyear, based in New York, is private equity firm focused on healthcare financial services and other sectors. Founded in 2000, Lightyear prefers to make control investments in North America-based middle-market companies.

Lightyear states its investment funds have completed more than 50 investments since the firm’s inception.

Welsh, Carson, Anderson & Stowe (WCAS) has announced it has acquired a majority ownership stake in Leiters.

Leiters, based in Englewood, Colo., and founded in 1926, is a 503B outsourcing provider of hospital and ophthalmology compounded sterile preparations.

WCAS, based in New York, is a private equity firm focused exclusively on the healthcare and technology industries. Founded in 1979, the firm targets growth-oriented companies with an investment strategy that is deal-size agnostic.

WCAS acquired its equity position in Leiters from the company’s existing investor group. This includes Kaiser Permanente Ventures, Mayo Clinic, Frazier Healthcare Partners, SV Health Investors and H.I.G. BioHealth Partners.

Terms of the acquisition were not disclosed.

HGGC and Snapdragon Capital Partners will make a $240 million strategic growth investment in Fullscript, according to a news release.

Fullscript, based in Ottawa, Ontario, describes itself as a supplement dispensing platform and patient adherence tool. Founded in 2011, the company states it generates $300 million in annual revenue.

HGGC, based in Palo Alto, Calif., is a middle-market private equity firm. Founded in 2007, the firm pursues a variety of transactions within several sectors.

Snapdragon, based in Madison, Conn., is a growth-oriented private equity firm focused on health and wellness, consumer services and health services. Founded in 2018, the firm pursues a range of investment types and typically invests between $40 million to $500 million.

Details of the transaction were not disclosed.

Oak Hill Capital has announced it will invest in U.S. Oral Surgery Management (USOSM).

USOSM, based in Irving, Texas, is a shared services organization that partners with oral surgeons. The company, founded in 2017, states it has partnered with more than 140 surgeons across 18 states.

Oak Hill Capital Partners, based in Stamford, Conn., seeks to invest in middle market companies. Founded in 1986, the firm typically makes more substantial investments in a number of sectors, including healthcare.

USOSM is currently a portfolio company of RiverGlade Capital. Based in Chicago, RiverGlade makes control and select minority equity investments in lower middle market healthcare companies. Founded in 2017, the firm prefers to make more substantial investments from a dollars perspective.

Terms of the transaction were not disclosed.