GHO Capital buys ClearView Healthcare Partners, Insight’s Achieve3000 explores sale

GHO Capital has agreed to acquire ClearView Healthcare Partners and Insight Partners-backed Achieve3000 enters second round of its sale process.

Morning, everyone!

As the Delta variant quickly spreads and investment banks, PE firms and their portfolio companies continue to discuss return to office plans, what are folks doing to increase vaccination rates among employees?

Asset manager Vanguard Group is incentivizing employees that show proof of vaccine with $1000 payments, Bloomberg wrote yesterday. BlackRock is prohibiting unvaccinated employees from entering US offices starting in July, it said. On the private equity front, MiddleGround Capital is offering a $250 gift card to all fully vaccinated employees at its firm and portfolio companies. How else are PE firms supporting the vaccine drive? We want to know! Write to PE Hub’s Karishma Vanjani with your plans.

Now, to the news.

North American push: GHO Capital, which just amassed the largest-ever healthcare-exclusive PE fund in Europe as it puts feet on the ground in the US, has agreed to acquire ClearView Healthcare Partners, according to four sources familiar with the matter.
ClearView, which can be likened to a global strategy consulting firm such as McKinsey & Co or LEK Consulting, but exclusively for the life sciences industry, was previously backed by RLH Equity.

GHO’s latest pharma services bet is valued at about 17x ClearView’s marketed EBITDA of $43 million, some of the people said. That suggests a deal valued around the ballpark of $730 million.

For GHO, the deal comes as the London firm’s third vehicle recently closed on more than €2 billion ($2.4 billion) of capital available to invest – the biggest Europe-headquartered healthcare fund in history, knocking out ArchiMed’s MED Platform I, which collected €1 billion in August last year, affiliate Private Equity International wrote in June.

Other recent North America-headquartered bets for the specialist buyout firm include Velocity Clinical Research, X-Chem, and the boosting of its stake in Envision followed by the portfolio company’s subsequent acquisition of Two Labs.

Check out my full report on PE Hub.

For sale: Insight Partners-backed Achieve3000 has entered the second round of its sale process, sources familiar with the matter told PE Hub’s Milana Vinn. Macquarie is advising the EdTech business on the process.

Insight Partners first invested in the company in August 2007, injecting $9 million into Achieve 3000. Now, a sale of the company could value the business at more than $700 million, the sources said.

Read more on PE Hub.

That’s it for me! Have a great week ahead, everyone, and as always, write to me at springle@buyoutsinsider.com with your comments, tips or feedback!