General Atlantic has agreed to acquire a 52% interest in Emdeon Business Services from Emdeon Corp. (Nasdaq: HLTH). The total transaction is valued at approximately $1.2 billion, including $320 million from General Atlantic and $925 million in leverage from Citigroup, Deutsche Bank and Bear Stearns. Emdeon was advised by The Blackstone Group and Citigroup Corporate and I-Banking. Emdeon Business Services provides revenue cycle management and clinical communication solutions for the healthcare market. www.generalatlantic.com www.emdeon.com
VC Deals |
Air2Web Inc., an Atlanta-based provider of mobile messaging and marketing applications, has raised $25 million in third-round funding. The Carlyle Group led the deal, and was joined by return backers VantagePoint Venture Partners, UPS and company founder Jay Chaudhry. This is Air2Web's first VC round since 2001, and brings its overall venture capitalization to around $77 million. www.air2web.com
Mavent Inc., an Irvine, Calif.-based provider of automated compliance solutions for the financial services industry, has raised $10 million in Series C funding led by FT Ventures. www.mavent.com
Wallop, a San Diego-based social networking spinout from Microsoft, has raised $10 million in Series B funding. Norwest Venture Partners led the deal, and was joined by return
Macusight Inc., a Union City, Calif.-based drug company focused on retinal disease therapy, has raised $8 million in additional Series A funding. This brings the round total to $26 million, with return backers including Alloy Ventures, Sutter Hill Ventures, Frazier Healthcare Ventures and InterWest Partners. www.macusight.com
Whaleback Systems Inc., a Portsmouth, N.H.-based provider of IP telephony services for small and mid-sized businesses, has raised $7.5 million in Series B funding. Castile Ventures led the deal, and was joined by Egan-Managed Capital and return backer Ascent Venture Partners. www.whalebacksystems.com
Enkata Technologies Inc., a San Mateo, Calif.-based provider of enterprise performance management software, has raised $4.88 million in fourth-round funding, according to a regulatory filing. Sigma Partners was joined by return backers ComVentures and Apex Venture Partners. www.enkata.com
Sonitus Medical Inc., a Woodside, Calif.-based medical device startup, has raised for than $4.5 million in Series A funding led by RWI Ventures, according to a regulatory filing.
RedPath Integrated Pathology Inc., a Pittsburgh-based lab that provides complex cancer diagnostic testing, held a $4 million first close on its Series A funding round. NewSpring Capital led the deal, and was joined by CID Capital. A second close is expected within 30 days. www.redpathip.com
Mojix Inc., a Los Angeles-based developer of signal processing products for sensory networks, has raised $3 million in additional Series A funding, according to a regulatory filing. This brings the round total to $5.3 million, with Oak Investment Partners joining return backers Red Rock Ventures and InnoCal Venture Capital. www.mojix.com
Sermo, a Cambridge, Mass.-based online community for physicians, has raised $3 million in Series A funding from Longworth Venture Partners. www.sermo.com
Genbook Inc., a San Francisco-based provider of online advertising solutions, has raised $2.2 million in Series A funding led by Neo Technology Ventures of Australia. www.genbook.com
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Actis has acquired a 71% stake in Ceylon Oxygen Ltd., a Sri Lanka-based manufacturer of industrial and medical gasses, from Yara International ASA. Actis also will make a mandatory offer to acquire the remaining shares in Ceylon Oxygen. No financial terms were disclosed for the deal, which was transacted in partnership with Ceylon Oxygen management. www.act.is
HitecVision and Ferncliff have agreed to acquire a 60% stake in Noble Denton Holding Ltd., a UK-based provider of global marine and engineering consultancy services to the global shipping, insurance and offshore energy industry. Key employees of the company will retain 40% of the business. No financial terms were disclosed. www.nobledenton.com
American Capital Strategies has committed an additional $34 million to portfolio company BPWest Inc., a provider of drilling fluid products and services for oil and gas drilling. The capital will be used to help BPWest both refinance debt and acquire Toby's Vacuum Tuck Service Inc.
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Gray Wireline Service Inc., a subsidiary of Gray Energy Services LLC, has acquired Southern Wireline Service Inc., a provider of cased-hole wireline services in the onshore and transition zone regions of the
Aptuit Inc., a Greenwich, Conn.-based provider of streamlining and support services for drug developers, has agreed to acquire EaglePicher Pharmaceutical Services. No financial terms were disclosed. Aptuit is backed by Welsh, Carson, Anderson & Stowe and Temasek Holdings. www.aptuit.com
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