Summit Partners, MDVIP, healthcare, concierge medicine, private equity, merger, M&A

Summit-backed concierge-medicine provider returns to market

Summit Partners is exploring the sale of MDVIP Inc, the country’s largest provider of so-called concierge medicine, Buyouts has learned. The Boston investor has owned the provider of customized healthcare services on two separate occasions. Summit first invested in MDVIP in 2004, eventually selling the Boca Raton, Florida, company to consumer-products giant Procter & Gamble […]

Webster Capital, Bristol Hospice, healthcare, private equity, merger, M&A

Webster Capital nears deal for Bristol Hospice

Webster Capital, having reaped a handsome return on its recent sale of pediatric home-health company Epic Health, is shifting its attention to treatment for patients suffering life-limiting illnesses. The Waltham, Massachusetts, private equity firm has signed a letter of intent to acquire Bristol Hospice, a subsidiary of closely held senior-care provider Avalon Health Care, Buyouts […]

Comprehensive Eye Care, ophthalmology, eye care, healthcare, private equity, merger, M&A

New Nevada eye-care group draws PE backing

Comprehensive Eye Care, a newly formed vision-care provider in the Southwest, has selected a private equity partner, four sources familiar with the situation told Buyouts. Four separate businesses are being combined to create the Nevada-concentrated platform, which will represent the largest provider of ophthalmic-services in the state, two of the sources said. The identity of the […]

KKR, private equity, healthcare

KKR, on a healthcare tear, builds medical-transport giant

While KKR & Co’s involvement in billions of dollars of combined healthcare deal activity was revealed in a single day last week, the groundwork for at least two acquisitions dates back several years, a partner at the firm said. In the largest of the transactions, KKR-backed Air Medical Group Holdings bought American Medical Response, the […]

Northeast Dermatology, Ontario Teachers Pension Plan, private equity, pension fund, merger, M&A

Ontario Teachers expected to win auction for Northeast Dermatology

Ontario Teachers’ Pension Plan is close to sealing a deal for Northeast Dermatology Associates, according to people familiar with the matter. The transaction would mark the conclusion of a Browns Gibbons Lang-run process that got underway about four months ago. The auction for the New England dermatology group drew significant interest from sponsors, sources said. […]

Centers for Medicare & Medicaid Services, healthcare, private equity, Medicare, Medicaid

How the proposed CMS home-health rule might affect PE, dealmakers

A recently proposed rule by the Centers for Medicare & Medicaid Services to overhaul the home-health-payment system could affect sponsors looking to unload providers over the next several months. How the federal agency’s rule could affect different types of providers is highly uncertain, though industry sources expect clarity by year’s end. Still, it’s fair to […]

Quintiles, private equity, healthcare, merger, M&A

PE deemed more likely suitor for Quintiles’ contract-sales unit

The contract-sales business of Quintiles IMS is fielding looks from a limited group of sponsors and strategics, three sources told Buyouts. Quintiles, Danbury, Connecticut, is projecting the contract-sales business will generate adjusted EBITDA of about $60 million to $65 million in 2017, the people said. The unit is projected to generate just shy of $800 […]

Carlyle Group, Newport Academy, private equity, merger, M&A, healthcare

Carlyle said to buy teen-rehab provider Newport Academy

Carlyle has struck a deal to acquire Newport Academy, which treats teens suffering from conditions ranging from trauma and depression to drug and alcohol abuse, three sources told Buyouts. The Washington firm is said to be acquiring the company legally registered as Monroe Operations LLC through its U.S. Equity Opportunity Fund. Carlyle’s second North American […]

Overhead shot of a group of doctors discussing results on a digital tablet. Photo courtesy TommL/E+/Getty Images

Ares nears deal for Summit-backed DuPage

Private equity firm Ares Management is close to buying the practice-management company of Summit Partners-backed DuPage Medical Group, according to a Hart-Scott-Rodino early termination notice. The filing with the FTC follows a July 14 Buyouts report that New York’s Ares was the frontrunner in a process for the Chicago multispecialty physician group. The HSR filing shows that […]

Thomas H. Lee, Lee Equity Partners, Chris Witkowsky, private equity

Lee Equity sets sights on a new fund in 2018

Lee Equity Partners plans to raise its next fund in 2018, the firm’s founder, Thomas H. Lee, said at Emerging Manager Connect East. Lee also indicated he would move out of the day-to-day mix at some point during the next fund life. “That’s the way of the world,” he noted. “An institution looking at me says, ‘gee, you’re […]

private equity, venture capital, TPG

PE firms like TPG find fertile M&A ground in VC-backed tech companies

TPG’s recent deal for ed-tech startup EverFi reflects an emerging trend that one partner says the firm is well positioned to exploit. That trend, said TPG Partner Nehal Raj, is more cross-pollination between what would traditionally be thought of as growth equity and buyouts. In other words, more companies that have previously chosen to go public — those that […]

private equity, venture capital, TPG

PE firms like TPG find fertile M&A ground in VC-backed tech companies

TPG’s recent deal for ed-tech startup EverFi reflects an emerging trend that one partner says the firm is well positioned to exploit. That trend, said TPG Partner Nehal Raj, is more cross-pollination between what would traditionally be thought of as growth equity and buyouts. In other words, more companies that have previously chosen to go public — those that […]

Madison Capital, Adam Willis, private equity, merger, M&A

Five Questions With Madison Capital’s Adam Willis

Adam Willis serves as a managing director at Madison Capital Funding, where he heads up the lender’s healthcare efforts and leads a dedicated team. Madison, with more than $8 billion in assets under management, is distinguished by its stable base of capital. The Chicago group is the mid-market lending subsidiary of life insurer New York […]

MTS Health, private equity,

MTS Health-backed early-phase CRO heads to market

MTS Health Investors is exploring the sale of Celerion less than three years after investing in the Phase 1-focused contract research organization, according to three sources familiar with the matter. The healthcare private equity firm has retained Lazard to advise on a process, the sources said. Lazard knows Celerion well, having conducted the process that […]

private equity, merger, M&A, TPG,

Q2 M&A: Elevated prices won’t curb sponsors’ appetite for deals

A high-price environment hasn’t stopped traditional private equity firms from finding new investments, with sponsor-led dealmaking in tech fueling a steady rise in both the number of closed transactions and disclosed dollar volume in the second quarter. “Yes, multiples are high,” said Nehal Raj, who leads investments in the tech arena for both TPG Capital […]

Welsh, Carson, Anderson & Stowe, Aptuit LLC, private equity, merger, M&A

Welsh Carson-backed CRO Aptuit explores sale

Welsh, Carson, Anderson & Stowe is looking to exit its more than decade-long investment in Aptuit LLC, a provider of early- and mid-phase clinical drug-development services, three sources familiar with the matter said. The contract research organization is projecting 2017 adjusted revenue and EBITDA of $126 million and $25 million, respectively, the sources said. William […]

MidOcean Partners, Water Pik, merger, M&A, private equity

MidOcean to score 5x return on Water Pik

MidOcean Partners is poised to collect an about 5x return on its initial investment in water flosser maker Water Pik, a source familiar with the matter told Buyouts. The middle-market firm said July 17 it would sell Water Pik, Fort Collins, Colorado, to Church & Dwight, parent of consumer product brands including Arm & Hammer detergent […]

Primus Capital, healthcare, Medhost, private equity, merger, M&A

Summit-backed DuPage Medical Group nears sale

DuPage Medical Group, the independent multispecialty physician group backed by Summit Partners, is nearing the end of its sponsor-focused sales process, four sources familiar with the matter told Buyouts. Ares Management is said to be the frontrunner in the process for the Chicago-area medical group, according to three of the sources. DuPage is expected to […]