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.

TPG will sell its equity interest in OneOncology to Cencora, according to a news release.

OneOncology, founded in 2018 and based in Nashville, Tennessee, is a partnership of independent community oncology practices.

TPG, founded in 1992 and based in San Francisco, targets investments in middle market companies. The firm invests in healthcare and a number of other industries.

Cencora, formerly AmerisourceBergen, is a global pharmaceutical solutions organization.

Terms of the transaction were not disclosed.

WindRose Health Investors has announced a strategic investment in Stellus Rx.

Stellus Rx, founded in 2022 and based in Plano, Texas, provides pharmacist-led patient support and dispensing solutions.

WindRose, founded in 2000 and based in New York, pursues equity investments in healthcare companies. The firm invests in a broad range of industry segments, including outsourced services to payors and health systems, technology-enabled services, healthcare providers and value-added distribution.

Terms of the investment were not disclosed

As founder and CEO of Nyoo Health, Priya Bathija encourages healthcare leaders to ask questions, starting with, “How does this impact women differently?” Nyoo Health helps leaders align, inspire and execute initiatives that strengthen women’s health services and position their organizations at the forefront of care. In this conversation with McGuireWoods’ Micaela Enger and Gretchen Townshend, Priya reveals where returns on investment in women’s health truly lie — clinically, socially and economically.

She also addresses persistent challenges such as payment disparities, the need for provider education across specialties and the importance of co-creating solutions between startups and health systems. As she explains, “There is an increased acknowledgement in the healthcare sector that women’s health needs to be a priority. After all, we’re 51% of the population.”

InTandem Capital Partners has announced it has completed an investment in The Phia Group.

The Phia Group, founded in 2000 and based in Canton, Massachusetts, is the developer of cost containment and compliance solutions for health plan sponsors and employers. 

InTandem, founded in 2011 and based in New York, focuses on acquiring middle market healthcare services companies. The firm prefers to make more substantial investments from a dollars perspective in the provider services and non-reimbursement industries.

Terms of the investment were not disclosed.

InTandem was joined in its investment by strategic co-investments from HarbourVest Partners and Partners Capital.

WindRose Health Investors has announced the closing of its seventh fund.

The fund, WindRose Health Investors VII, closed with $2.6 billion in commitments.

Fund VII, which closed at its hard cap, is targeting 11–13 investments.

WindRose, founded in 2000 and based in New York, pursues equity investments in healthcare companies. The firm invests in a broad range of industry segments, including outsourced services to payors and health systems, technology-enabled services, healthcare providers and value-added distribution.

A range of new mental health treatments are available to Western medicine, and practitioners are figuring out how to use them effectively. Matt Brockmeier, co-founder and chief legal officer at Entheogyn and of counsel at Antithesis Law, joins Rebecca Nicholson, foundation director and wellness advisor at Prime Quadrant, to explore this evolving landscape with McGuireWoods partner and host Geoff Cockrell.

Matt discusses the tension between state and federal laws shaping access to psychedelics and controlled substances, while Rebecca contrasts the investment dynamics of cannabis versus psychedelics, emphasizing mental health over recreation. They examine specialized investor appetite, the medical community’s evolving response and the ancillary wellness modalities supporting comprehensive mental health transformation.