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.

• Fullscript, a health care platform company for whole-person care, announced the acquisition of Rupa Health. Rupa Health is a lab-focused company that helps practitioners order, track and manage over 3,000 laboratory tests within a single interface. Fullscript plans to leverage the acquisition to quickly scale its comprehensive platform for whole-person care throughout the U.S. and Canada. Fullscript is backed by HGGC, a middle-market PE firm headquartered in Palo Alto, California, and Snapdragon Capital Partners, a PE firm based in Madison, Connecticut.
• Solis Mammography, the nation’s largest independent provider of specialized breast health services, recently acquired the Breast Center of Acadiana. The Breast Center of Acadiana is comprised of two dedicated screening and diagnostic breast radiology imaging locations in Youngstown and Lafayette, Louisiana. Following the acquisition, Solis Mammography now operates over 35 centers in 18 major markets throughout the U.S. Solis Mammography is backed by Madison Dearborn Capital Partners, a PE firm based in Chicago, Illinois that specializes in buyout and growth equity investing.
• Cellipont Bioservices announced a minority growth equity investment from HealthQuest Capital. Cellipont Bioservices is a leading Contract Development and Manufacturing Organization that specializes in the advancement of cell therapies. HealthQuest Capital is a private asset firm based in Austin, Texas that provides capital to transformative companies in the health care sector.
• TPG acquired a majority stake in Surescripts, a health information technology company that supports the electronic transmission of prescriptions between organizations and pharmacies, e-prescriptions and the standard exchange of medical records. TPG hopes to expedite Surescripts’ ability to scale its existing intelligent prescriptions, benefits and authorizations and clinical interoperability services. TPG is a PE firm based in Fort Worth, Texas that manages roughly $229 billion in assets.
• Ivy Fertility, an advanced reproductive technology, in-vitro fertilization and third-party reproduction company, announced the acquisition of Northern California Fertility Center. Northern California Fertility Center is a renowned fertility practice that services patients throughout the Bay Area. The acquisition of Northern California Fertility Center adds to Ivy Fertility’s portfolio of fertility practices across the U.S. Ivy Fertility is backed by InTandem Capital Partners, a health care-focused PE firm based in New York City, New York.

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