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.

• TMA Systems, backed by Silversmith Capital Partners, recently acquired EQ2. TMA Systems is a provider of enterprise asset and maintenance management software, specializing in computerized maintenance management systems (CMMS) and enterprise asset management solutions. EQ2 is a provider of health care-specific CMMS solutions, including its flagship platform, HEMS. TMA Systems plans to utilize EQ2’s HEMS platform to set a new standard in health care asset and maintenance management. The deal is financed by Silversmith Capital Partners, a Boston, MA-based PE firm specializing in health care IT and services.
• PharmaCord, backed by Permira, announced a merger with Mercalis, an integrated life sciences commercialization partner backed by Odyssey Investment Partners. PharmaCord is a patient services provider within the biopharmaceutical industry, while Mercalis produces an end-to-end suite of commercial capabilities. The combined entity is intended to be a leading provider of patient access solutions in the biopharmaceutical industry. Permira is a global PE firm headquartered in London. Odyssey Investment Partners is a middle-market PE firm based in New York City.
• InTandem Capital Partners announced a strategic investment in Clinilabs, a global leader in research, providing a full range of central nervous system drug and device development services to the health care industry. With the investment, InTandem plans to make central nervous system therapeutics more readily available to patients. InTandem is a PE firm headquartered in New York City, investing exclusively in health care.
• Eir Partners completed a growth investment in Porter, a health care IT and services platform coordinating care and coverage. With the use of artificial intelligence, Porter helps health plan members navigate the health care delivery system. Porter aims to use Eir Partners’ funding to continue delivering patient care while improving its technology platform and broadening its geographic reach. Eir Partners is a health care-focused PE firm located in Miami, Florida.

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