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.

• SK Capital Partners announced a strategic investment in Spectrum Vascular. Spectrum Vascular is a medical device company that provides vascular access and medication management services that reduce health care-acquired infections in patients. The investment aims to improve patient care while also supporting new technological developments. SK Capital Partners is a New York City-based PE firm with approximately $9 billion of assets under management.
• Unified Health Services (“UHS”), backed by Reynolda Equity Partners, acquired Sunbelt Medical Financial. Sunbelt Medical Financial is an outsourced receivables management provider that helps domestic health care providers collect claims from international patients. UHS serves health care providers nationwide with revenue cycle management for workers’ compensation claims. Following the acquisition, UHS will expand into international claims collection markets. The acquisition is financed by Reynolda Equity Partners, a North Carolina PE firm specializing in health care investments.
• Petershill at Goldman Sachs Alternatives made an investment in Frazier Healthcare Partners. Frazier Healthcare Partners is a PE firm operating out of Seattle, Washington, that focuses on investments in health care. Petershill, part of Goldman Sachs’ alternative investment platform, concentrates its investments on minority shares of leading alternative asset managers. The funding will allow Frazier Healthcare Partners to increase investment in existing funds and establish new funds.
• AvaSure, a leader in artificial intelligence-powered virtual care solutions, announced the acquisition of Nurse Disrupted. Nurse Disrupted is a virtual nursing platform that is designed to improve care delivery in both hospital and home-based settings. The acquisition marks AvaSure’s second acquisition in nine months and demonstrates an effort to advance clinically developed virtual nursing across care settings. AvaSure is backed by the Heritage Group, a PE firm based in Nashville, Tennessee, that focuses investments exclusively in the health care industry.

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