RoundTable Healthcare Partners has announced it has sold TIDI Products to TJC. 

TIDI, founded in 1969 and based in Neenah, Wisconsin, is a manufacturer, marketer and distributor of a portfolio of medical products. The company is best known for its falls prevention and patient safety products.

RoundTable, based in Lake Forest, Ill., is an operating-oriented private equity firm focused exclusively on the healthcare industry. Founded in 2001, the firm targets middle market investments in medical devices, medical products and disposables; specialty pharmaceuticals; medication delivery systems; specialty distribution; and complementary outsourced services.

TJC, formerly the Jordan Company, is a middle market private equity firm. Founded in 1982 and headquartered in New York, the firm invests in a wide range of industries, including healthcare.

Terms of the transaction were not disclosed.

Pharos Capital Group has announced it has acquired a majority stake in RhythMedix.

RhythMedix, founded in 2013 and based in Mt. Laurel, N.J., is a manufacturer and provider of remote cardiac monitoring systems and related services.

Pharos, with offices in Dallas and Nashville, pursues control equity and mezzanine investments in lower and middle market companies primarily in healthcare and business services. Founded in 1998, the firm targets the provider services and non-reimbursement industries within healthcare.

Terms of the acquisition were not disclosed.

NewSpring has announced it has closed its latest fund with more than $180 million in commitments.

The fund, NewSpring Health Capital IV (NSH IV), was oversubscribed.

NSH IV made six investments prior to the final close: AeroSafe Global, BetterNight, Healthworks, Patheous Health, Prosperity Behavior Health and Verisma.

NewSpring, based in Radnor, Pa., is a private investment firm that invests in the lower-middle market. Founded in 1999, the firm invests in several industries, including healthcare. One of its investment funds — NewSpring Healthcare — specifically targets healthcare companies across the healthcare services, specialty pharmaceutical and medical technology sectors.

Accel-KKR has announced it has invested in Ntracts.

Ntracts, founded in 2007 and based in Chattanooga, Tenn., is a provider of contract lifecycle management solutions for healthcare organizations.

Accel-KKR, based in Menlo Park, Calif., is a technology-focused investment firm. The firm pursues middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments and credit alternatives.

Terms of the investment were not disclosed.

Although investment in the orthopedic sector is not new, private equity investment interest in this specialty area continues to grow. In fact, orthopedics has become one of the leading sectors for private equity investing, just behind cardiology.

In this episode of The Corner Series, McGuireWoods partner Geoff Cockrell speaks with Scott Davis, managing director at Provident Healthcare Partners, one of the leading investment banks providing M&A advisory services, strategic planning and capital formation to owners and operators of healthcare services businesses. Geoff and Scott focus their discussion on the highly active and evolving orthopedics sector.

Tune in to hear Scott share his insights into the state of the orthopedic industry and the leading drivers that make it so appealing to investors.

H.I.G. Capital has agreed to acquire the spine business of ZimVie (Nasdaq: ZIMV) for $375 million, according to a news release.

H.I.G. will acquire Zimvie’s spine, motion preservation and EBI bone healing technologies.

ZimVie was formed less than two years ago when Zimmer Biomet spun out its dental and spine segments. Following the sale, ZimVie will focus solely on its dental business.

H.I.G. Capital, based in Miami, pursues a wide range of investments in healthcare and many other industries. Founded in 1993, the firm has flexibility on investment size, including interest in pre-EBITDA businesses. Within healthcare, the firm targets companies in the provider services, hospital/major facilities and life sciences/pharmaceutical industries.

The transaction is expected to close in the first half of 2024.

Some private equity groups buy assets just to pull them apart and sell them in pieces, but that is the exception, not the norm. In fact, private equity has done a lot to build and improve businesses, especially small and medium-sized ones.

In this episode of The Corner Series, McGuireWoods partner Geoff Cockrell speaks with Edward Crawford, co-founder and co-CEO of Coltala, a Dallas-Fort Worth-based venture capital and private equity firm that employs a “mission” investment style. Geoff and Edward discuss Coltala’s unique investment style, the ethos that drives the firm’s investment strategy and the misconception about private equity.

Tune in to learn more about Coltala’s partnership culture, the mission and margin investment strategy that serves as a filter to screen out certain companies, the test used to evaluate potential deals, and why Edward has walked away from opportunities that otherwise looked great financially.