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.

• Latticework Capital Management recently announced a strategic investment in First Medical Associates. First Medical Associates is a patient-centered primary care provider headquartered in Germantown, Maryland, with 11 clinics throughout the state. First Medical Associates’ primary mission is to enhance access to quality health care by offering personalized treatment and care coordination for patients across the health care spectrum. Following the investment, Latticework Capital Management has completed over 150 transactions across a diverse range of health care subsectors. Latticework Capital Management is a growth-oriented PE firm based in Dallas, Texas, that specializes exclusively in control equity investments within the health care industry.
• Vision Innovation Partners, backed by Gryphon Investors, recently announced the acquisition of Eye Care of Delaware. Eye Care of Delaware provides eye surgery and related treatments to patients throughout Delaware and neighboring states. Eye Care of Delaware utilizes state-of-the-art technology to perform a range of procedures, including cataract surgery, cornea and glaucoma treatments, refractive surgery, eyelid reshaping and retina care. Gryphon Investors is a PE firm based in San Francisco, California that focuses investments in middle-market companies across various sectors, including business services, health care and software. Vision Innovation Partners is the leading platform for ophthalmology service providers in the Mid-Atlantic region. The acquisition marks Vision Innovation Partners’ 26^th addition since its establishment in 2017, further strengthening its expanding network of ophthalmology practices.
• CenterGate Capital recently announced a strategic investment in The Marena Group. The Marena Group is a leading provider of medical-grade compression garments that focus on post-surgical recovery solutions for plastic surgery centers, medical centers, hospitals, patients and consumers. Based in Austin, Texas, CenterGate Capital is a PE firm with over $750 million in assets under management. The investment provides The Marena Group with additional capital and resources for increased growth while also maintaining high-quality products to optimize the overall recovery experience.
• SK Capital Partners and Carlyle Group recently announced the partnered acquisition of bluebird bio. bluebird bio is a biotherapeutics company that pioneers gene therapy solutions for severe genetic diseases and currently offers three FDA-approved therapies for sickle cell disease, β-thalassemia and cerebral adrenoleukodystrophy. Carlyle Group is a global investment firm headquartered in Washington, D.C., with over $453 billion in assets under management. SK Capital Partners is a PE firm based in New York, New York, with over $10 billion in assets under management and a disciplined focus on life sciences, specialty materials and ingredient sectors.

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