The Healthcare Investor

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.

GI Partners and TA Associates have announced that they will acquire the stake held in Netsmart Technologies by healthcare IT company Allscripts Healthcare Solutions.

Netsmart, based in Overland, Kan., is a provider of software and technology solutions designed for the health and human services and post-acute sectors.

GI Partners, based in San Francisco, is a middle-market private equity firm active in several sectors, including healthcare.

TA Associates, based in Boston, invests in healthcare and several other sectors.

GI Partners acquired an initial stake in Netsmart in 2016. This new acquisition will make GI Partners the majority owner of Netsmart.

The transaction is expected to be completed this month. Financial terms were not disclosed.

Key members of our McGuireWoods Healthcare Private Equity team — Holly Buckley, Thomas Zahn, Timothy Fry and Amanda Roenius — recently published an in-depth look at the recent growth of private equity interest in the ophthalmology space with Law360. The sector has been heating up over the last several years, and our colleagues examined the reasons why, key issues and ongoing opportunities for investors.

Read this Law360 column by clicking here.

athenahealth, Veritas Capital and Evergreen Coast Capital have announced that an affiliate of Veritas and Evergreen will acquire athenahealth for approximately $5.7 billion in cash.

Following completion of the acquisition, Veritas and Evergreen are expected to combine athenahealth with Virence Health, the GE Healthcare value-based care assets that Veritas acquired earlier this year. The combined company is expected to operate under the athenahealth brand and be headquartered in Watertown, Mass.

The transaction is expected to close in the first quarter of 2019.

athenahealth, based in Watertown, is a provider of cloud-based services for medical practices and health systems.

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.

Evergreen, based in Melo Park, Calif., is the private equity subsidiary of hedge fund Elliott Management Corp. Elliott, based in New York, had approximately $35 billion in assets under management as of July 1, 2018.