Spectrum Equity, Net Health, Carlyle Group, merger, M&A, private equity

Spectrum’s Net Health nears sale to Carlyle

Spectrum Equity’s auction for Net Health, the software provider for specialized outpatient care it backed more than five years ago, is nearing conclusion. Carlyle Group, through its U.S. Equity Opportunity Fund, is close to acquiring the Pittsburgh company, a Hart-Scott-Rodino early-termination notice shows. The FTC filing follows an Aeris Partners-run sales process for the company, […]

Health Evolution Partners, New Mountain Capital, private equity, healthcare, merger, M&A, CenseoHealth, Advance Health

Former Bush official’s firm finds exit for one of its last companies in New Mountain deal

Through a pair of simultaneous deals, New Mountain Capital has created a means for Health Evolution Partners to liquidate one of its last remaining investments, CenseoHealth. New Mountain is buying majority stakes in both CenseoHealth and Summit Partners-backed Advance Health. In merging the pair, the New York buyout firm will create the largest provider of in-home […]

Numotion, Audax Group, LLR Partners, private equity, merger, M&A

Numotion, backed by Audax and LLR, hires adviser for 2018 process

Numotion, the complex rehabilitation technology company jointly owned by Audax Group and LLR Partners, is expected to return to the auction block next year, three sources familiar with the matter said. Harris Williams has been hired to advise on a sales process for the Brentwood, Tennessee, company, the sources said. While nothing formal is imminent, […]

bitcoin, private equity, venture capital, cryptocurrency, Shamoil Shipchandler, SEC, regulation

Bitcoin craze fuels more SEC oversight

The SEC intends to develop regulatory oversight over cryptocurrencies as the number of coin offerings and volume of capital being raised explode, a member of the agency said. Shamoil Shipchandler, regional director of the SEC’s Fort Worth Regional Office, likened bitcoin initial coin offerings to a dressed-up form of an unregistered securities offering. “If you take them […]

bitcoin, private equity, venture capital, cryptocurrency, Shamoil Shipchandler, SEC, regulation

Bitcoin craze fuels more SEC oversight

The SEC intends to develop regulatory oversight over cryptocurrencies as the number of coin offerings and volume of capital being raised explode, a member of the agency said. Shamoil Shipchandler, regional director of the SEC’s Fort Worth Regional Office, likened bitcoin initial coin offerings to a dressed-up form of an unregistered securities offering. “If you take […]


Permira stands to make 4.3x its money on Atrium

Permira’s sale of a majority stake in Montreal vitamins maker Atrium Innovations is poised to produce an about 4.3x return for the European buyout firm, a source familiar with the matter said. The buyer is consumer giant Nestle, which has agreed to pay $2.3 billion cash for the nutritional company, best known for its Garden […]

Summit Partners, Ability Network, healthcare, merger, M&A, private equity

Ability Network to pay out dividend to Summit after busted auction

Despite failing to secure a buyer at its desired $1 billion-plus valuation earlier this year, Summit Partners is poised to recoup a good chunk of its investment in Ability Network as the healthcare IT company continues to perform nicely. A proposed debt issuance by Ability is expected to produce total proceeds of $525 million, which […]

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

Webster snags Bristol Hospice in $70 mln deal

Webster Capital won the sponsor-driven auction for Bristol Hospice in a deal valued just north of $70 million, Buyouts has learned. The middle-market PE firm announced the deal on Thursday, confirming an August Buyouts report. The transaction completed a sales process by Edge Healthcare Partners, an Atlanta boutique investment firm. The price tag equates to an 8x […]

KKR, Ali Satvat, private equity, healthcare

KKR just raised a war chest for the growth-equity side of the healthcare market

Kohlberg Kravis Roberts raised $1.45 billion for healthcare growth investments at the smaller end of the market, which the firm has deemed largely underserved. KKR recently closed fundraising for KKR Healthcare Strategic Growth Fund. HCSG, which will be led by KKR member Ali Satvat, plans to make equity investments of up to $100 million in the healthcare sector. […]

Anne Arundel Dermatology, New Mainstream Capital, merger, M&A, private equity

Anne Arundel Dermatology, backed by New Mainstream, seeking buyer

New Mainstream Capital is exploring the sale of Anne Arundel Dermatology Management less than three years after investing in what represents one of the last available skin-treatment groups of size, according to three sources. Coker Capital, a healthcare-focused investment bank, is providing sell-side advice on the sales process, the sources said. Coker knows AAD well, […]

Brad Coppens, One Equity Partners. healthcare, private equity

Five Questions with OEP’s Brad Coppens

Brad Coppens is a managing director at One Equity Partners, where he helps lead the New York middle-market firm’s healthcare efforts. Coppens holds various board memberships, including at OEP-backed All Metro Health Care, which provides primarily nonmedical home-care services. How has the home health sector evolved in recent weeks? There continues to be meaningful change […]

Excellere Fund, private equity, Robert Martin, David Kessenich

LPs waive Excellere’s Fund II key-man provision after passing of co-founder

Limited partners in Excellere Partners’ second fund waived a key-man provision that was triggered by the recent death of Co-Founder Robert Martin, co-founder David Kessenich said. Kessenich, who is managing partner, described Excellere’s future as more or less “business as usual” after Martin’s passing. No changes are expected from either a leadership or strategy perspective, he said. Partners Patrick O’Keefe […]

David Alpern, Varsity Healthcare Partners, private equity, healthcare, Orthopaedic Institute, merger, M&A

How a thesis on the obesity crisis led to Varsity’s orthopedics deal

Varsity Healthcare Partners’ longstanding thesis around the threat of obesity led it to a largely uncharted area for private equity: orthopedic services. If history repeats itself, more consolidation is poised to follow as the PE community looks to deploy capital in new specialty physician markets. Varsity invested in Orthopaedic Institute, the largest provider of orthopedic […]

MedRisk, TA Associates, healthcare, private equity, merger, M&A

TA’s MedRisk considers sale

TA Associates’ MedRisk, which offers workers’ compensation cost-containment services in the physical and occupational therapy segment, is exploring a sale, according to three sources. Centerview Partners has been engaged to advise on the process, two of the sources said. TA Associates, a global growth-oriented private equity firm, invested in MedRisk, King of Prussia, Pennsylvania, in 2016. […]

Excellere Partners, David Kessenich, Robert A. Martin, private equity

Excellere moves forward after death of co-founder Robert Martin

Excellere Partners Co-Managing Partner David Kessenich is now the firm’s principal owner following the recent death of the Denver PE shop’s other co-founder, Robert A. Martin, a recent SEC filing shows. Martin, who co-founded the KRG Capital Partners spinout in 2006, passed away Sept. 12, according to a Form ADV. Martin was 69, an obituary states. The […]

Olympus Partners, Vaco, Quad-C Management, private equity, merger, M&A, healthcare

Olympus Partners’ Vaco deal underscores growth in higher-end contract work

Olympus Partners’ acquisition of Vaco further validates the market for temporary staffing focused on harder-to-find skills like accounting and healthcare IT. The Stamford, Connecticut, sponsor is buying its majority stake in Vaco from Quad-C Management. Quad-C is exiting after about doubling Vaco’s revenue to the $450 million-plus range during its three-year hold. Vaco’s management, including Co-Founder and […]

JLL Partners, Daniel Agroskin, private equity, merger, M&A

Five Questions with JLL Partners’ Daniel Agroskin

Daniel Agroskin is a managing director at JLL Partners, where he leads the New York private equity firm’s healthcare efforts and is a member of the management committee. How would you describe JLL’s broader approach to healthcare investing? The way we think about healthcare is where the big dollars get spent. And that’s pharma, that’s […]

New Harbor Capital, PT Solutions, healthcare, physical therapy, merger, M&A

New Harbor’s PT Solutions approaches sale to PE

A differentiated partnership approach with hospitals has done well for New Harbor Capital-backed PT Solutions, whose Jefferies-run auction has narrowed to a handful of private equity groups, according to people familiar with the matter. The physical-therapy company completed management meetings with nine sponsors by the end of October, sources said. The number of participants has […]