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.

• Primus Capital and Bregal Sagemount announced a strategic growth investment in MDaudit, a provider of billing, coding compliance and revenue integrity software for health care providers. MDaudit is headquartered in Waltham, Massachusetts and currently serves over 700,000 providers across over 2,500 facilities. Primus Capital is a PE firm with offices in Atlanta, Georgia and Cleveland, Ohio focusing on the health care, software and technology-enabled services industries. Bregal Sagemount is a PE firm headquartered in New York City with investments in industries including health care IT and services, software, digital infrastructure and financial technologies.
• Renovus Capital Partners entered into a strategic partnership with Superior Health Holdings, Inc., a provider of home health and hospice services throughout southern and northwest Louisiana. Superior’s services include skilled nursing care, therapy and home health aides. Renovus is a lower middle-market PE firm headquartered in Wayne, Pennsylvania with investments in the technology, health care and professional services markets.
• Waud Capital Partners announced the acquisition of Mopec Group. Mopec Group is a Madison Heights, Michigan-based supplier of equipment, consumables and services to certain laboratory end-markets, including anatomic and forensic pathology labs. Waud Capital is a growth-oriented PE firm based in Chicago, Illinois, focusing on the software, technology and health care industries.
• New Enterprise Associates (“NEA”) has entered into a merger agreement to acquire NeueHealth, a provider of value-based care technology to payors and providers. NeueHealth is currently publicly traded, and the transaction with NEA will result in NeueHealth becoming a privately held entity. NEA is a venture capital firm focusing on seed and growth stage investments in the consumer, fintech, life sciences and digital health industries.
• Ascend Capital Partners announced the acquisition of a majority stake in Unison Therapy Services. Unison provides outsourced therapy services to students in school- and community-based settings. The investment is intended to enhance Unison’s therapy solutions and expand access to therapeutic services for students and their families. Ascend Capital Partners is a health care-focused PE firm headquartered in New York City.

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