Insights on Issues & Trends that Impact Investments in Healthcare & Life Science Businesses
Lindsay Goldberg announced the closing of its sixth fund.
The fund, Lindsay Goldberg VI, closed with $4.9 billion, surpassing its target of $4.0 billion.
Lindsay Goldberg, founded in 2001 and based in New York, is a private investment firm focused on healthcare, industrials and services. Since its founding in 2001, the firm has raised $24 billion and invested $17 billion in 66 platforms and more than 350 add-ons.
Grant Avenue Capital announced it has acquired PatientCare EMS Solutions.
PatientCare, founded in 1998 and based in Tyler, Texas, is a provider of ground ambulance services, delivering emergency and non-emergency medical transportation to communities across multiple geographies.
Grant Avenue, founded in 2019 and based in New York, is a healthcare-focused, middle market private equity firm. The firm generally targets companies with approximately $5 million to $25 million of EBITDA and pursues founder recapitalizations, majority buyouts, minority investments, corporate carve-outs and special situations.
Terms of the acquisition were not disclosed. McGuireWoods served as Grant Avenue’s legal counsel.
Gauge Capital announced it has invested in Reliable Medical.
Reliable, founded in 1989 and based in Nashville, Tennessee, is a provider of complex rehabilitation technology and related mobility and home medical equipment solutions across the United States.
Gauge, founded in 2013 and based in Southlake, Texas, is a middle market private equity firm that invests in healthcare and other sectors. The firm typically targets businesses with roughly $5 million or more in EBITDA and pursues platform investments in companies with total enterprise values generally in the $50 million to $500 million range.
Terms of the investment, which saw Gauge provide growth capital and complete a recapitalization of Reliable, were not disclosed.
Platinum Equity has announced it acquired the Products & Healthcare Services (P&HS) segment of Owens & Minor.
Owens & Minor P&HS, based in Richmond, Virginia, is a medical supply distribution platform primarily serving the U.S. acute care market.
Platinum Equity, founded in 1995 and based in Los Angeles, is a global investment firm. The firm specializes in private equity buyouts and invests in a wide range of sectors.
Owens & Minor, which was rebranded as Accendra Health effective Dec. 31, 2025, is a Fortune 500 global healthcare solutions company providing products and services that support care from the hospital to the home. The company retained a 5 percent interest in Owens & Minor P&HS following the transaction.
NMS Capital recently announced an investment in and recapitalization of Axiom Medical.
Axiom, founded in 1999 and based in The Woodlands, Texas, is a workplace incident case management solutions provider focused on self-insured employers.
NMS, founded in 2010 and based in New York, is a private investment firm specializing in strategic equity investments in middle market healthcare services and business services companies.
Terms of the investment were not disclosed.
Vista Equity Partners has made a strategic growth investment in Dentira, according to a news release.
Dentira, founded in 2018 and based in San Francisco, is a procurement and spend management platform serving dental practices and multi-site healthcare operators.
Vista, founded in 2000 and based in Austin, Texas, is a global technology investor specializing in enterprise software.
Terms of the investment were not disclosed.
HCAP Partners has announced an investment in Puzzle Healthcare.
Puzzle, founded in 2022 and based in Detroit, is a post-acute care coordination platform delivering physiatry and care management services in skilled nursing facilities.
HCAP Partners, founded in 2000 and based in San Diego, is a private equity firm that provides growth capital to lower middle market companies in the United States. The firm seeks to invest $5 million to $35 million in businesses generating between $10 million and $100 million in revenues in healthcare and a few other industries.
Terms of the investment were not disclosed.
Lower middle-market private equity in government-reimbursed healthcare requires a different playbook — one that balances controlling ownership with founder retention to build long-term value. Evolve Capital has become a subject matter expert in the Medicare-reimbursed home healthcare space, and principal Ben Mackay shares the playbooks with McGuireWoods partner and host Geoff Cockrell.
Tune in for Ben’s insights about other opportunities in the market — including home healthcare with attached hospice, autism services and specialty pharmacies that cater to pets.
Copley Equity Partners has announced it has acquired Vital Delivery Solutions (VDS).
VDS, founded in 1987 and based in Williston, Vermont, is a provider of healthcare logistics and courier services.
Copley, founded in 2012 and based in Boston, is a private equity firm and family office that partners with lower-middle-market companies in North America. The firm, which is comfortable in both majority and minority equity positions, pursues investments across a range of industries and invests between $5 million and $75 million in equity per transaction.
Terms of the acquisition were not disclosed.
