Private Equity Deal Spotlight | Weekly Update

Health care continues to drive private equity (“PE”) activity, creating opportunities for investors and traditional health care providers. Transactions in the health care space are especially complicated, layering health care regulatory and reimbursement considerations on top of a complex securities, antitrust, privacy and security framework.

Hall Render’s PE team of attorneys and advisors leverage the strength and depth of our bench to navigate and efficiently execute PE transactions. The summary below includes highlights of recent PE deals and legislative updates.

• Carisk Partners, a specialty risk transfer and care coordination company, recently acquired HeadsUp Healthcare. HeadsUp Healthcare is a specialty managed care organization focused exclusively on injuries above the neck including dental, maxillofacial, ocular, auditory and concussive injuries. Carisk Partners is backed by Lee Equity Partners, a PE firm based in New York City that focuses primarily on growth capital investments in middle-market companies.
• TPG Capital closed a deal to become the majority stakeholder in Surescripts. Surescripts offers products that electronically send prescription drug information from providers directly to pharmacies, in addition to tools for checking prescription drug coverage. CVS Health, Express Scripts and two pharmacist trade groups remain minority stakeholders. TPG Capital is a PE firm based in Fort Worth, Texas that manages investment funds in growth capital, public equity and debt investments.
• Accel-KKR recently announced the acquisition of VisiQuate, a leading provider of revenue cycle analytics, automation and AI-powered workflow. Following the acquisition, Accel-KKR intends to leverage its resources and strategic knowledge to support VisiQuate’s continued growth. Accel-KKR is a private equity firm headquartered in Atlanta, Georgia that focusses primarily on mid-market software and technology-enabled services firms.
• Waud Capital Partners has acquired Science Exchange, a provider of life sciences procurement and supplier management solutions. Waud Capital Partners intends to expand the product portfolio of Science Exchange, in addition to investing in innovative technologies and elevating its market presence within the life sciences sector. Waud Capital Partners is a PE firm based in Chicago, Illinois with portfolio operations around the world.
• Spectra Medical Devices, LLC announced the acquisition of XL Precision Technologies Limited. XL Precision Technologies is a contract development and manufacturing organization that builds micro-components, complex tubular components and sub-assemblies for the medical device field. The acquisition is intended to expand Spectra Medical Devices’ ability to serve medical device original equipment manufacturers. Spectra Medical Devices is a portfolio company of QHP Capital, a PE firm based in Raleigh, North Carolina focusing on the life science and pharmaceutical services sub-sectors.