Why one big healthcare investor is homing in on a ‘blank check’ strategy
Good afternoon!
We had some tech issues today; apologies for the late Wire. Should be back to normal next week. — Chris … now here’s Sarah:
It’s Thursday, healthcare enthusiasts, and I’m happy to report that I’m getting ready for some much needed summer vacationing before getting back to the post-Labor Day grind … Must. Stay. Focused.
Let’s get right to it.
More than a decade into its investment, Blackstone Group is evaluating the sale of DJO Global, I’ve learned. Read my story for more info, including which bank has been engaged to advise the provider of orthopedic rehabilitation products.
In other high-profile sponsor activity, Carlyle Group just announced an investment in One Medical, bringing its total capital raised to $530 million, a company spokesperson confirmed. Carlyle is injecting up to $350 million in the concierge medical practice group.
A carte blanche
SPACs – or special purpose acquisition corps – aren’t something I come across in healthcare frequently.
Otherwise known as a blank check, the term mostly reminds me of that weird ‘90s movie about a preteen boy who unintentionally scores a blank check, illegally writes it out for $1 million and spends it all in six days – unaware that the crooks to whom it belongs are hunting him down. I promise it’s more absurd if you rewatch it as an adult.
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