Sarah Pringle
AEA, which snapped up a majority stake in the contact lens retailer in 2016, has engaged Morgan Stanley and Jefferies for financial advice.
The Chicago PE firm has teamed up with Paul Jardina, who most recently served as the CEO of Onco360, an oncology-focused specialty pharmacy.
Underscoring investor appetite in the recession-proof sector, a deal was signed only about a month after the Canadian vet-care company hit the market.
The Harris Williams-run process is targeting a narrow group of potential buyers.
PE appetite for healthcare technology continues unabated.
Oak makes a bet in the recession-resilient CDMO space, all while the digital health companies it backs see an acceleration of investor interest.
The two private equity groups will own a combined 51% stake in the healthcare technology company, according to sources.
Burgess has long been a target of private equity and strategic buyers, but those opportunities never propelled the entrepreneurial-run payment integrity company to bite.
Clearlake is mulling a minority stake sale or 50-50 joint ownership structure for Symplr.
TPG, Leonard Green, Welsh, Carson, Anderson & Stowe, Clearlake and Apax have all recently participated in this trend.