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The Healthcare Investor

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

Women in Private Equity to Know: Gretchen Perkins

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 profiling women leaders in private equity throughout 2018. 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. This month, we are pleased to feature Gretchen Perkins of Huron Capital. Access her profile by clicking here.

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

Healthcare & Life Sciences Private Equity Deal Tracker: CyberMDX Raises $10 Million

Posted in Healthcare Services Investing

CyberMDX has announced it has raised $10 million in series A financing. The funding round was led by Pitango Venture Capital.

CyberMDX, based in New York, is a provider of medical cybersecurity.

Pitango Venture Capital, based in Israel and with U.S. offices in New York and Palo Alto, Calif., seeks investments in technology ventures.

The financing will be used to support CyberMDX’s growth and expansion, according to the company.

Healthcare & Life Sciences Private Equity Deal Tracker: Veritas Capital Acquires GE Healthcare Businesses for $1 Billion

Posted in Healthcare Services Investing

Veritas Capital announced that one of its affiliates has completed the acquisition of GE Healthcare’s enterprise financial management, ambulatory care management and workforce management assets for $1.05 billion in cash.

The businesses will be jointly operated as a standalone company.

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.

GE Healthcare is the healthcare business of GE.

News of the acquisition follows the announcement of the agreement between Veritas and GE in April 2018.

Veritas Capital Portfolio Company Acquires Cotiviti for $4.9 Billion

Posted in Healthcare Services Investing

Veritas Capital announced that its portfolio company, Verscend Technologies, has agreed to acquire Cotiviti Holdings for $4.9 billion in cash.

Cotiviti, based in Atlanta, is a provider of payment accuracy and analytics-driven solutions focused primarily on the healthcare industry.

Verscend, based in Waltham, Mass., is a provider of data-driven healthcare solutions.

Veritas Capital, 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.

The transaction is expected to close during the fourth quarter of 2018.

Cressey & Co Raises Close to $1 Billion for New Healthcare Fund

Posted in Healthcare Services Investing

Cressey & Company has announced the closing of its sixth fund, Cressey & Company Fund VI, at $995 million.

The company also announced the closing of a $105 million co-investment fund.

Cressey, with offices in Chicago and Nashville, seeks control and minority equity investments in middle-market companies exclusively in healthcare.

The firm indicated it would use the $1.1 billion in new capital commitments to support investing in and building healthcare services and information technology businesses in North America.

Women in Private Equity to Know: Susan Nickey

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 profiling women leaders in private equity throughout 2018. 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. This month, we are pleased to feature Susan Nickey of Hannon Armstrong. Access her profile by clicking here.

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

Healthcare & Life Sciences Private Equity Deal Tracker: Parachute Health Secures $9.5 Million in Funding

Posted in Healthcare Services Investing

Parachute Health has announced it has secured $9.5 million in new funding.

The funding round was led by Harley Miller and Dan Ahrens of Insight Venture Partners and includes investments from GNYHA Ventures, the business arm of the Greater New York Hospital Association, and Anthony Welters, formerly of UnitedHealth Group.

Parachute Health, based in New York, is a healthcare technology platform designed to assist with the ordering of medical equipment and services for patients following discharge from a hospital.

The company indicated that the money from the funding round will be used to expand its ePrescribing platform into key U.S. markets.

Parachute previously announced in March that it had raised $5.5 million from investors including Loeb Holding Corp.

Strata Oncology Secures $26 Million in Funding

Posted in Healthcare Services Investing

Strata Oncology has announced it has secured $26 million in series B funding.

Strata, based in Ann Arbor, Mich., describes itself as a precision oncology platform company.

New investors in the company were Pfizer Ventures, Merck Global Health Innovation Fund, Deerfield Management and Renaissance Venture Capital Fund. They joined existing investors Arboretum Ventures and Baird Capital.

Strata indicated it intends to use the latest round of funding for multiple purposes, including expanding its client base and further developing solutions.

Women in Private Equity to Know: Maureen Spivack

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 profiling women leaders in private equity throughout 2018. 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. This month, we are pleased to feature Maureen Spivack of New State Capital Partners. Access her profile by clicking here.

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

Venture Investors Raising Healthcare Fund Targeting $100 Million

Posted in Healthcare Services Investing

Venture Investors is raising a new healthcare venture fund, according to a PE Hub report citing an SEC regulatory filing.

The firm is targeting $100 million for the fund.

Venture Investors, with offices in Madison, Wyo., and Ann Arbor, Mich., seeks to make early-stage investments in healthcare, specifically within the therapeutic, diagnostic and tools, medical device and IT sectors. The firm focuses on the Midwest, with initial investments ranging from $250,000 to $2.5 million.

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