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.

• Olympus Partners completed the acquisition of PAI Pharma, an industry leader in the manufacturing and distribution of generic oral liquids in ready-to-dose cups and bottles. PAI Pharma boasts the broadest portfolio of generic oral liquid medicines in the U.S. pharmaceutical industry and works directly with retail chains, independent pharmacies, hospitals and government agencies. Following the acquisition, Olympus Partners plans to position PAI Pharma for accelerated growth throughout the industry. Olympus Partners is a PE firm headquartered in Stamford, Connecticut with over $11 billion in assets under management.
• Strive Medical, an NMS Capital portfolio company, announced the acquisition of Charles Pharmacy & Surgical. Strive Medical provides direct-to-patient urological, wound care, diabetic and other disposable medical supplies to in-home patients. Charles Pharmacy is a pharmacy and diabetes supplies provider located in the Bronx, New York. The strategic acquisition positions Strive Medical to expand its services and brand into New York and the surrounding areas. NMS Capital is a PE firm headquartered in New York that focuses primarily on investments in the health care services market.
• Whistler Capital-backed AmeriPro Health recently acquired Priority Medical Transport. AmeriPro Health provides last-mile health care delivery and patient logistics, in addition to an extensive portfolio of services including both emergency and non-emergency medical care and transportation. Priority Medical Transport is an emergency medical services provider operating out of Nebraska. AmeriPro Health intends to leverage the acquisition to expand its geographic reach and deliver its innovative emergency medical services throughout Nebraska. Whistler Capital is a Nashville, Tennessee-based PE firm focusing largely on investments in the health care sector.
• Flourish Research, which was recently acquired by Genstar Capital, completed a strategic acquisition of Diablo Clinical Research. Flourish Research is a clinical trial organization focused primarily on cardiovascular, metabolic, neuroscience and infectious disease therapeutic research. Diablo Clinical Research is a California-based clinical research facility that operates throughout various therapeutic areas. Flourish Research intends to utilize Diablo Clinical Research’s proximity to Silicon Valley to gain easier access to expanding device trials and start-ups. Genstar Capital is a PE firm located in San Francisco, California that has approximately $49 billion in assets under management and invests largely in middle-market companies.