KKR and JW-backed Arbor sold to NovaQuest’s Azurity Pharmaceuticals, Riverside Partners hires former Linden investor, TA Associates acquires software company

Riverside expands healthcare team while TA Associates acquires PDQ.

Morning, everybody!

This is Karishma, back with your Tuesday morning wire. Today’s news cycle is all about healthcare and tech, beginning with the acquisition of KKR and JW Asset Management-backed Arbor Pharmaceuticals by NovaQuest’s Azurity Pharmaceuticals.

Azurity offers products across the cardiovascular, neurology, gastro-intestinal and institutional markets. The specialty pharmaceutical company serves patients for whom conventional oral dosage forms are not ideal.

The combined company will have increased scale and diversification, a breadth of dosage forms, integrated capabilities, and expanded market presence to better serve patients’ needs, according to Amit Patel, chairman and CEO of Azurity.

Arbor will operate as Azurity and the combined companies will offer a distinctive portfolio of 10 exclusively promoted, FDA-approved, branded product families.

Read the brief on PE Hub.

Healthcare expansion: Riverside Partners is building out its senior healthcare roster with the addition of Michael Bernard, who joins from Chicago’s Linden Capital Partners, a healthcare-exclusive private equity firm.

Bernard started at Riverside a couple weeks ago as a principal following about five years at Linden. The investor got his start at Morgan Stanley in healthcare investment banking, before joining 3i Group Private Equity’s healthcare team in 2014, according to his LinkedIn profile.

At Linden, Bernard helped lead multiple investments in healthcare services, manufacturing and distribution.

On the healthcare front, Riverside’s three priority areas are pharma services, medical device manufacturing and tech-enabled services. The firm is actively recruiting for another principal on the technology side, Belluck added.

“It’s a very, very active time. Valuations are high and people are concerned about increasing tax rates. We’re seeing a number of founder-owned companies looking for liquidity,” General Partner David Belluck told PE Hub’s Sarah Pringle.

Read the story on PE Hub.

Scaling software companies: PDQ, a provider of IT asset management software for small and medium-sized businesses, announced an investment from TA Associates. The aim is to expand the portfolio of easy-to-use IT asset management and scanning software solutions.

“Given the sizable and fragmented IT systems management market, we see opportunities for accelerating growth. In collaboration with PDQ, we’ll focus on promoting the company’s compelling value proposition to expand PDQ’s customer base,” said Harry Taylor, a managing director at TA.

Founded in 2001, South Salt Lake, Utah-based PDQ serves more than 18,000 customers across education, technology, manufacturing, government and other industries. Read the brief on PE Hub.

That’s it for me! Have a great week ahead, and as always, write to me at karishma.v@peimedia.com with your comments, tips or just to say hello.