PE HUB Healthcare Wire Highlights, 11.7.19

Sponsors build an image around radiology-centric tech

Happy Thursday!

The big, juicy headline right now is this: Walgreens is exploring going private in response to private equity interest in the drug store chain, Reuters reported. In response, Blackstone Chief Stephen Schwarzman said an LBO would be a “stretch” right now as investors have become more discriminating, Bloomberg said.

What do you think, healthcare fanatics? Could we really see the largest LBO in history?

Elsewhere, one situation I’ve been tracking for over a year appears close to getting done through a not so ordinary transaction. More than a decade into its investment, L Catterton is hashing out a deal to sell PatientPoint, I’m told. Read my story to find out which blank-check company is under exclusivity to acquire the provider of point-of-care healthcare advertising and education.

Another day, another niche 

Today’s missive is about another type of specialty technology: medical imaging software for radiologists.

A company in the business of just that, Intelerad, is fielding first-round bids this week, I learned. Read my full story for more on the Novacap-backed company.

I’ve written about lots of healthcare tech. That includes revenue cycle management and emergency medical records tailored to just about every vertical ranging from behavioral health and physical therapy to ophthalmology and primary care. You name it.

In terms of radiology, there’s a lot of tech that goes into viewing and transferring medical images among physicians. Much differentiated tech is required when it comes to workflow and PACS, picture archiving and communication systems, which is moved around remotely, sometimes through teleradiology.

Radiology is also at the front-end of artificial intelligence, one source said, with a tremendous level of funding going into advanced technologies and new startups in the space. While some would argue AI is a displacer to the radiology market, it could also be an enabler for a tech as more radiology is done outside of the hospital. Consider Intelerad, which earlier this year committed $75 million to R&D efforts in AI.