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.

• Clearview Capital announced the recapitalization of Advantage Behavioral Health. Advantage Behavioral Health is a mental health treatment provider specializing in outpatient services across nine states, performing more than 500,000 patient visits per year. The partnership aims to break down barriers to mental health care and increase support to individuals. Clearview Capital is a PE firm headquartered in Stamford, Connecticut, that specializes in lower-middle market companies.
• Wellspring Capital Management acquired Summit Spine & Joint Centers, a provider of minimally invasive spine services. Summit manages 17 Ambulatory Surgery Centers and 44 clinics throughout the southeastern United States. Wellspring’s funding will allow Summit to deliver spinal relief in lower cost of care settings. Wellspring Capital Management is a New York City-based PE firm with targeted investments in the health care services sector.
• New Mountain Capital recently acquired Office Ally, a health care technology provider. Office Ally offers a comprehensive cloud-based platform used by more than 80,000 health care organizations. New Mountain will work with Office Ally to develop its platform to increase efficiency, automation and interoperability within the health care industry. New Mountain Capital is a PE firm headquartered in New York City with approximately $55 billion of assets under management.
• Surplus Solutions, backed by NMS Capital, announced the acquisition of Certified Genetool. Surplus Solutions is a global leader in the exchange of high-quality used and refurbished laboratory, processing and medical packaging equipment. Certified Genetool is a California-based provider of new and refurbished lab equipment. Surplus Solutions plans to utilize Certified Genetool’s footprint, especially in the flow cytometry area, to optimize its equipment lifecycle management platform. The deal is funded by NMS Capital, a New York City-based PE firm with a focus on health care investments.

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