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.

• Madison Dearborn Partners recently announced a significant ownership stake in NextGen Healthcare. NextGen Healthcare has provided health care technology and data solutions for 50 years. Thoma Bravo, a software investment firm, will retain a significant ownership position in NextGen Healthcare. Both Madison Dearborn Partners and Thoma Bravo will partner together moving forward to lead NextGen Healthcare into a new phase of growth and innovation. Madison Dearborn Partners is a PE firm headquartered in Chicago, Illinois, with over 160 platform investments throughout the health care, financial services and technology sectors.
• VeraNorth Capital Management recently announced the acquisition of RN Express Registry. RN Express Registry is a leading health care staffing agency providing experienced, competent, specialized and highly skilled staff across the health care industry. Moving forward, VeraNorth Capital Management will support organic growth for RN Express Registry while also pursuing a roll-up strategy in sectors such as urgent care centers, skilled nursing facilities, pharmacies and hospices. VeraNorth Capital Management is a PE firm based in Houston, Texas, specializing in control-oriented investments within the health care sector.
• Masco Group recently announced the acquisition of Techniserv, Inc. Techniserv, Inc. is a biopharma equipment manufacturer based in Berwick, Pennsylvania, that provides bioreactor technology and process systems throughout the pharmaceutical, biotech, food and fine chemical markets. The acquisition will allow Masco Group to enhance its upstream and downstream bioprocessing. Masco Group is backed by Ardian, a PE firm headquartered in Paris, France, with significant investments throughout the United States.
• H.I.G. Capital recently announced the acquisition of ITH Group. ITH Group creates customized injectable medications for patients with specialized medical needs that most alternative treatments do not address. ITH Group also operates a leading digital pharmacy that provides essential, licensed medications to patients. Following the acquisition, H.I.G. Capital plans to support new initiatives, including an overall increase in the company’s production capacity. H.I.G. Capital is a PE firm based in Miami, Florida, that specializes in providing both debt and equity capital to middle-market companies.

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