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The Healthcare Investor

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

Healthcare & Life Sciences Private Equity Deal Tracker: Accelmed Invests in MedMinder Systems

Posted in Healthcare Services Investing

Accelmed Partners has announced that it led a $40 million investment in MedMinder Systems.

MedMinder, based in Needham Heights, Mass., is an end-to-end pharmacy, medication adherence and connected care solution designed for elderly and polypharmacy patients. Founded in 2007, the company’s pill dispenser delivers medications from its pharmacy to patients’ doors in preorganized daily trays.

Accelmed, based in Aventura, Fla., is a private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market health technology companies. Founded in 2009, the firm targets equity investments of $10 million to $50 million per transaction in medical devices, diagnostics, digital health and technology-enabled healthcare services.

Joining Accelmed in the investment was Arkin Holdings, an Israel-based life sciences and healthcare investor, and existing MedMinder investors.

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Healthcare & Life Sciences Private Equity Deal Tracker: Beverly Capital Acquires The Eye Health Group

Posted in Healthcare Services Investing

Beverly Capital has acquired The Eye Health Group, according to a news release.

The Eye Health Group, based in Eatontown, N.J., is medical optometric service provider with locations in New Jersey and New York. The company provides a suite of medical eyecare services

Beverly Capital, based in Los Angeles, is a private equity firm that pursues control investments in several industries, including healthcare and healthcare services. The firm pursues North American companies with annual revenue generally ranging from $20 million to $120 million.

Terms of the acquisition were not disclosed.

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Women in PE to Know: Jennifer Ding

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 Jennifer Ding of Welsh, Carson, Anderson and Stowe. Access her profile.

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

Healthcare & Life Sciences Private Equity Deal Tracker: New Harbor Capital Invests in Advent Home Medical

Posted in Healthcare Services Investing

New Harbor Capital has announced it has completed a majority investment in Advent Home Medical.

Advent, based in Pontiac, Mich., is an at-home respiratory care company providing services and medical equipment to patients throughout their post-acute lifecycle.

New Harbor Capital, based in Chicago, invests in lower middle market companies. Founded in 2013, the firm prefers to make more substantial investments from a dollars perspective in healthcare, business services and education companies.

Terms of the investment were not disclosed.

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Healthcare & Life Sciences Private Equity Deal Tracker: Platinum Equity Acquires NDC From Court Square Capital Partners

Posted in Healthcare Services Investing

Platinum Equity has acquired NDC from an affiliate of Court Square Capital Partners, according to a news release.

NDC, based in Nashville, Tenn., is a healthcare supply chain company and distributor of consumable healthcare supplies. Founded in 1953, NDC specializes in the medical, dental, physical therapy, long-term care, homecare and specialty end markets.

Platinum Equity, based in Los Angeles, is a global investment firm. Founded in 1995, the firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market.

Court Square Capital Partners, based in New York, is a middle market private equity firm. The firm pursues growth investments in healthcare and a few other sectors.

Terms of the transaction were not disclosed.

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Healthcare & Life Sciences Private Equity Deal Tracker: TowerBrook and Ascension Capital Invest in Regent Surgical Health

Posted in Healthcare Services Investing

TowerBrook Capital Partners and Ascension Capital have completed a strategic investment in Regent Surgical Health, according to a news release.

Regent Surgical Health, headquartered in Chicago and Nashville, Tenn., partners with hospitals and physicians to develop, own and manage ambulatory surgery centers (ASCs). Founded in 2001, Regent currently owns or operates 21 ASCs across the United States.

TowerBrook, which has its U.S. operations based out of New York, is an investment management firm that invests in private equity and structured opportunities through its family of funds. Founded in 2005, the firm’s private equity strategy primarily pursues control-oriented investments in large and middle market companies in North America and Europe.

Ascension Capital is an investment affiliate of Ascension, the nation’s largest nonprofit and Catholic health system.

Terms of the investment were not disclosed.

In conjunction with the investment, Ascension selected Regent as its exclusive national partner for ASC development.

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Avista Capital Partners Closes Fund With $1.2 Billion

Posted in Healthcare Services Investing

Avista Capital Partners has announced it has closed its fifth fund with $1.2 billion.

The fund was over-subscribed, hit its hard-cap and exceeded its target of $775 million.

Avista Capital Partners, based in New York, is a healthcare-focused private equity firm that makes control buyout investments in the middle market. Founded in 2005, the firm pursues investments in medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare technology, healthcare distribution and consumer-driven healthcare sectors.

The new fund is comprised of public pension funds, university endowments and foundations, family offices, insurance companies and asset managers across North America, Europe, Asia and the Middle East.

Up-and-Coming Women in PE to Know: Lauren Morera

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 Lauren Morera of Audax Private Equity. Access her profile.

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

OrbiMed Raises $3.5 Billion Across Three Funds

Posted in Life Sciences Investing

OrbiMed has announced it has raised $3.5 billion in commitments for its latest private investment funds.

The investments are broken down as follows:

  • $1.5 billion for OrbiMed Private Investments VIII, which invests primarily in North America and Europe with a focus on biotechnology, medical device and diagnostics companies
  • $800 million for OrbiMed Asia Partners IV, which invests primarily in China and India with a focus on biotechnology, pharmaceuticals, medical devices, diagnostics and healthcare services
  • $1.2 billion for OrbiMed Royalty & Credit Opportunities III, which invests globally with a focus on healthcare companies and institutions

OrbiMed, headquartered in New York, is a life sciences investment firm with about $18 billion in assets under management.

Healthcare & Life Sciences Private Equity Deal Tracker: NovaQuest Invests in Pro-ficiency

Posted in Healthcare Services Investing

NovaQuest Private Equity has announced it has completed a strategic growth equity investment in Pro-ficiency.

Pro-ficiency, based in Durham, N.C., is a provider of tech-enabled training and compliance solutions for clinical trials. The company provides a suite of services, including virtual training simulations, training and compliance monitoring tools, and real-time data and predictive analytics.

NovaQuest Private Equity is the private equity 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.

Terms of the investment were not disclosed.

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