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.

• Welsh, Carson, Anderson & Stowe recently announced a strategic investment in Constitution Surgery Alliance. Constitution Surgery Alliance is a leading developer and operator of outpatient surgery centers with 16 facilities across 5 states that perform over 100,000 procedures annually. Through this investment, Welsh, Carson, Anderson & Stowe intends to drive the expansion of Constitution Surgery Alliance’s ambulatory networks nationwide. Welsh, Carson, Anderson & Stowe is a PE firm headquartered in New York City with over $33 billion in committed capital throughout the health care and technology sectors.
• Summit Partners recently announced a growth investment in RIS Rx, a health care technology company headquartered in Newport Beach, California, that manages gross-to-net revenue leakage for pharmaceutical manufacturers across the United States. RIS Rx currently serves more than 160 drug brands across 23 manufacturers. Summit Partners will leverage the investment to accelerate product development, expand service teams and enhance overall client services. Summit Partners is a PE firm headquartered in Boston, Massachusetts, that has invested in more than 550 companies throughout the technology and health care industries.
• Allied OMS recently announced a minority investment from 65 Equity Partners. Allied OMS is a doctor-led management services organization focused on supporting premier oral and maxillofacial surgery practices across the United States. Allied OMS currently supports surgeons and staff at over 50 locations. 65 Equity Partners is a global investment firm that focuses investments in health care, business services, technology and consumer services organizations worldwide. Everberg Capital, a private capital investment firm located in New York, New York, will co-invest alongside 65 Equity Partners.
• Knowtion Health, a health care revenue cycle company backed by Arsenal Capital Partners and Sunstone Partners, recently announced the acquisition of Switch RCM. Switch RCM is a leader in revenue recovery that leverages high-impact automation and data analytics to identify overlooked reimbursement opportunities. Knowtion Health plans to leverage the acquisition to enhance its overall service model with additional intelligence, digitization and automation expertise. Arsenal Capital Partners is a PE firm headquartered in New York, New York, that specializes in the technology, health care and industrial industries. Sunstone Partners is a PE firm that focuses investments in technology-enabled services and software companies.

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