Austrian skier Matthias Lanzinger lies on a strecher upon his arrival with an air ambulance jet in Salzburg March 6, 2008. Lanzinger, who is in stable condition, arrived back after undergoing an emergency amputation of his lower left leg on Tuesday in Oslo, Norway. Doctors said Lanzinger, who broke the leg in a World Cup Super G race in Norway on Sunday, might have died without the operation. REUTERS/Calle Toernstroem  (AUSTRIA) - BM2E43615PA01

Beekman’s REVA postpones sale, considers recap

Beekman Group shelved its sales process for REVA Inc, choosing instead to pursue a potential recap of the jet air-ambulance company, Buyouts has learned. The Fort Lauderdale, Florida, company was under a letter of intent with a sponsor, but Beekman withdrew the company from the auction block after it didn’t fetch its desired valuation, a source familiar […]

Brentwood Associates, Jefferson Dental, Black Canyon, private equity, merger, M&A, healthcare, dental

H.I.G.’s InterDent takes another stab at a sale

H.I.G. Capital’s newly led InterDent, which offers dental-practice support services in much of the western U.S., is making a return to the auction block, Buyouts has learned. Moelis has been hired to run a sales process for the company, according to four sources, who spoke on the condition of anonymity. The process remains in its early […]

Center for Autism and Related Disorders, private equity, healthcare, autism, merger, M&A

Autism-treatment giant CARD hires adviser for sale

Center for Autism and Related Disorders, the nation’s largest provider of autism-treatment-services, is headed to the auction block, Buyouts has learned. The Woodland Hills, California, company has retained Berkery Noyes & Co to advise on a sales process, sources familiar with the situation said. Pre-process meetings are taking place this week at the J.P. Morgan Healthcare […]

Shore Capital Partners, Stepping Stones Group, private equity, Five Arrows Capital Partners, Rothschild Merchant Banking

Shore Capital to make 7x on Stepping Stones sale

Shore Capital Partners‘ sale of Stepping Stones Group produced an about 7x return for the Chicago PE shop, Buyouts has learned. The buyer of the provider of school-based autism-treatment services was Five Arrows Capital Partners, the newly launched North American corporate private equity business of Rothschild Merchant Banking. Shore Capital will retain a minority investment, […]

Recent large home-health deals could trigger M&A wave

Recent large home-health deals could trigger M&A wave

The leveraged buyout of Kindred Healthcare and the fusion of LHC Group and Almost Family could incentivize some to pull the M&A trigger while creating new alternatives for others. The recently announced transactions underscore the investment thesis around home health and hospice care, but they also give rise to new questions. Mainly, how will all […]

radiology, healthcare, medicine, private equity, merger, m&a

Why sponsors may be gearing up to invest in radiology

It may be the perfect window of opportunity for private equity to make a run at radiology groups. To date, radiology has remained a vertical that PE — with a few exceptions — has stayed away from. But sources say that may be about to change as the sector’s strategic buyers face greater uncertainty and as physicians prep for […]

KKR, Kohlberg Kravis Roberts, private equity, veterinary, medical, healthcare

KKR validates veterinary sector with PetVet buy

KKR is buying PetVet, a deal that ought to fuel even more sponsor interest in the growing pet-care universe. The deal comes about three years after Ontario Teachers’ Pension Plan bought its majority stake in PetVet, which operates general, specialty and emergency veterinary hospitals. The previous deal reportedly valued PetVet at about $440 million, leaving former backer […]

mergers, M&A, private equity, 2017 in review, Waud Capital, Reeve Waud

2017: Sponsor-led M&A doesn’t skip a beat

The music has yet to stop for dealmakers, as buyers and sellers pull out all the stops to find and win good transactions in a historically high-price environment. “We’re not in the 8th or 9th inning of a sellers’ market,” said Justin Abelow, managing director of Houlihan Lokey’s financial-sponsors group. “We’re in the 12th or […]

Thomson Reuters, private equity, mergers, M&A, Kindred Healthcare

Kindred takes the lead as 2017’s largest PE bet in healthcare

A competitive and pricey market didn’t stop the private equity community from writing big equity checks in the healthcare sector during 2017. According to Thomson Reuters’s count, the complex $4.1 billion take-private for home-care giant Kindred Healthcare by a pair of bulge-bracket firms and one of the nation’s largest insurers, announced just days ago, took […]

Proskauer Rose, Rick Zall, law, healthcare, mental health, behavioral health, Congress, legislation, Donald Trump

Q&A: Proskauer’s Rick Zall talks behavioral-health M&A and policy

Rick Zall serves as chair of Proskauer Rose’s healthcare department and a partner in the corporate healthcare division. Zall advises healthcare companies, investors and lenders on regulatory compliance matters in their transactions. How has the behavioral-health M&A market evolved over the past five years? There’s increasing recognition that mental-health and behavioral-health services have not gotten […]

autism, healthcare, Autism Learning Partners, FFL Partners, Jefferson River Capital, Blackstone Group, Hamilton James, Scopia Capital Management,

FFL takes home Autism Learning Partners in $270 mln-plus deal

The highly anticipated auction for Autism Learning Partners has concluded, commanding north of $270 million through a sale to FFL Partners. The transaction represents the vertical’s largest-ever sponsor deal, according to sources familiar with the situation. The sellers include Jefferson River Capital, the family office of Blackstone President and COO Tony James, and Scopia Capital Management, which […]

Carlyle Group, TA Associates, MedRisk, insurance, worker's compensation, private equity, merger, M&A

Carlyle to acquire worker’s-comp firm MedRisk from TA at $1 bln-plus valuation

Less than two years into its investment, TA Associates is exiting MedRisk via a sale to Carlyle Group, a deal that values the specialized managed-care company north of $1 billion, Buyouts has learned. Through its $13 billion Fund VI, Carlyle will take a majority stake in MedRisk, which provides worker’s-compensation cost-containment services in the physical and occupational […]

Justin Abelow, private equity, merger, M&A, Kirkland & Ellis, law, Michael Weisser, Houlihan Lokey

Competitive market triggers changes in PE auctions

As demand for quality assets continues to outweigh supply, a hypercompetitive market is also changing the way sponsors are buying and selling companies. “There’s a lot of focus and conversation around how to best navigate processes and how to best differentiate yourself in an auction, and that sometimes separates winners and losers today,” said Michael […]

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 […]