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.

• Grovecourt Capital Partners completed the acquisition of IMRIS Imaging, the global leader in intraoperative MRI solutions. IMRIS develops and supports unique intraoperative MRI suites, which are used by hospitals and cancer centers across the globe. IMRIS plans to utilize Grovecourt funding to expand the boundaries of intraoperative MRI technology, providing laser ablation and cutting-edge ultrasound procedures. Grovecourt Capital Partners is a lower-middle market PE firm operating out of West Palm Beach, Florida.
• Carlyle and SK Capital jointly announced the take-private of bluebird bio, Inc., a provider of gene therapy solutions specializing in programs for sickle cell disease, beta-thalassemia and cerebral adrenoleukodystrophy. Carlyle and SK Capital’s investment will be used to scale bluebird’s commercial delivery of gene therapies. Carlyle is a Washington, D.C.-based global PE firm with $447 billion of assets under management. SK Capital is a PE firm headquartered in New York City focusing on the life sciences industry.
• AYA Medical Spa, recently backed by Eagle Merchant Partners, acquired Tribeca MedSpa. Tribeca MedSpa is a New York City-based provider of innovative and non-invasive cosmetic treatments, serving as a leading destination for aesthetic medicine. AYA is a doctor-led and patient-focused medical spa platform that plans to use the Tribeca acquisition to expand into the New York market. Eagle Merchant Partners is a PE firm based in Atlanta, Georgia focusing on the consumer and industrial sectors.
• Cosette Pharmaceuticals, backed by Avista Capital Partners, announced the acquisition of Mayne Pharma Group. Mayne Pharma focuses on the commercialization of novel pharmaceuticals, including the development of new oral drug delivery systems. Cosette is a pharmaceutical company based in Bridgewater, New Jersey specializing in women’s health and dermatology. Avista Capital Partners is a health care-focused PE firm headquartered in New York City.

For questions or additional information on private equity matters, please contact: