Clearlake snaps up nThrive’s tech biz, Sun Capital bets on primary care growth, Bain Capital gets a second shot at US LBM

Clearlake Capital is buying nThrive's tech business and Sun Capital is acquiring Miami Beach Medical Group.

It’s hump day, readers!

Health tech: Santa Monica’s Clearlake Capital has clinched a deal to buy the tech business of Pamplona Capital-backed nThrive, according to people with knowledge of the deal. The pending transaction assigns the healthcare RCM [revenue cycle management] software business at more than $1 billion, I wrote. Read more.

Primary care buzz: Sun Capital Partners is the latest sponsor getting into the business of value-based primary care, agreeing to acquire Miami Beach Medical Group. Check out PE Hub’s full story for financial details and more context.

The primary care universe in which MBMG plays has emerged as an increasingly hot area of investment this year – with some sources characterizing the last month or two as “an inflection point” in the segment.

The deal comes on the heels of Arsenal Capital Partners deal for Best Value Healthcare, as well as Cano Health’s surprise $4.4 billion merger with blank check company Jaws Acquisition Corp.

Second shot: Having long sought to invest behind the US residential market, Bain Capital through US LBM Holdings plans to fuel further growth at one of the country’s largest specialty building product distributors. The Boston-based firm was in the running in the 2015 sale process for US LBM in which Kelso ultimately prevailed, the firm told PE Hub’s Karishma’s Vanjani. Read more.

That’s it for me today. As always, write to me at springle@buyoutsinsider.com with any tips, feedback or just to say hello.