Leonard Green explores sale of MDVIP, Charlesbank makes strategic investment in Clearlake, SkyKnight-backed symplr, Berkshire Partners seeks staple into Fund X in secondary

Leonard Green mulls sale of MDVIP and Charlesbank invests in symplr.

Morning!

This is Chris, on the Wire for Sarah who is hiking out in the vast Adirondacks for some well deserved R&R. I’ll be venturing into the office for the first time in a while with a bit of trepidation and excitement. Honestly, I’m most curious to see if some of my old haunts are still up and running in the old (midtown) neighborhood.

Are you back in the office on a periodic or regular basis? How’s it going? What’s changed since the pre-pandemic days? Any tips? Hit me up at cwitkowsky@buyoutsinsider.com.
Sales: Leonard Green & Partners is exploring the sale of MDVIP, which offers customers a network of primary care doctors that provide personalized and preventative medicine for an annual fee, writes Sarah on PE Hub today.

Sources expect the Jefferies-run process to wind up with a sponsor buyer, Sarah said.
MDVIP members receive more face time and immediate access to their providers – with access either the same or next day as needed, along with 24/7 physician availability. A doctor within a typical internal and family medicine practice sees an average of 18 patients a day, whereas MDVIP-affiliated doctors see an average of eight to 10 patients a day, MDVIP states on its website, Sarah said. Read more here on PE Hub.

Partners: Charlesbank agreed to make a strategic investment in enterprise software business symplr, backed by Clearlake Capital and SkyKnight Capital, which will continue to be led by CEO BJ Schaknowski. The company completed seven add-ons since Clearlake’s and SkyKnight’s initial acquisition in 2018.

Charlesbank partnered with Clearlake in the past. The firm made a strategic investment in Clearlake and TA Associates-backed enterprise software company Ivanti. That deal came after Ivanti completed a continuation fund deal that provided more time and capital for the company to complete two add-ons. Read it here.

That’s it for me! Hit me up with tips n’ gossip, feedback or book recommendations at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.

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