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.
- Cascade Capital Group acquired 29 nursing home facilities from ABCM Corp. for $85M, marking Iowa’s largest nursing home sale in history. The purchase affects 7% of the state’s nursing homes. Cascade Capital Group is a health care-focused PE firm based in Chicago.
- Audax Private Equity acquired Avantor Inc.’s clinical services business. Audax will rebrand the business as Resonant Clinical Solutions, adding to its portfolio, which includes legacy brands EPL Archives, MESM and Therapak. Audax is a PE firm headquartered in Boston with offices in San Francisco, New York and London with $19B in assets under management.
- THL Partners made a majority investment in Red Nucleus to expand its commercialization services. Red Nucleus provides scientific, process, training and market access consulting services to the life sciences industry with a global team of 700 employees. THL Partners is a PE firm based in Boston investing in middle-market growth companies in the health care, financial technology and services, and technology and business solutions sectors.
- Francisco Partners recently acquired AdvancedMD from Global Payments, enhancing Francisco Partners’ cloud-based medical office software portfolio. AdvancedMD will continue supporting health care professionals through its comprehensive, integrated platform. Francisco Partners is a San Francisco-based PE firm with more than 310 portfolio acquisitions and $45B in capital raised.
If you have any questions or would like additional information, please contact:
- Rubin Pusha III at (773) 550-6859 or rpusha@hallrender.com;
- Erin Drummy at 317-977-1414 or edrummy@hallrender.com;
- Colleen Powers at (317) 977-1471 or cpowers@hallrender.com;
- Joe Kahn at (919) 447-4966 or jkahn@hallrender.com; or
- Your primary Hall Render contact.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot—outside of an attorney-client relationship—answer specific questions that would be legal advice.
