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.

• TEAM Technologies, backed by Arlington Capital Partners, recently announced the acquisition of Duke Empirical. Duke Empirical is a designer, developer and manufacturer of advanced medical devices based in Morgan Hill, California. TEAM Technologies regularly collaborates with prominent health care providers and medical device manufacturers to provide outsourced design and manufacturing services for critical medical devices. Following the acquisition, TEAM Technologies intends to streamline Duke Empirical’s supply chain operations and reduce overall delivery lead times. Arlington Capital Partners is a PE firm headquartered in Washington, D.C. that focuses on leveraged buyouts and recapitalized investments in middle market companies.
• Premier Radiology Services has announced the acquisition of MetisMD. MetisMD is an established teleradiology provider with specialized expertise in musculoskeletal imaging. Premier Radiology Services intends to leverage the acquisition to enhance its national footprint and bolster its overall teleradiology services. Premier Radiology Services is backed by Grovecourt Capital Partners, a PE firm headquartered in West Palm Beach, Florida. Grovecourt Capital Partners focuses on investments in lower middle market companies within the business and health care services sectors.
• Agile Occupational Medicine, backed by Angeles Equity Partners, recently announced a merger with Akeso Occupational Health. The transaction creates the second-largest independent occupational medicine provider in the country with a total of 42 locations throughout Arizona and California. Angeles Equity Partners is a Los Angeles-based PE firm that partners with niche manufacturing and specialty distribution businesses throughout the United States. Akeso Occupational Health is backed by Kain Capital, a PE firm headquartered in New York City that focuses on investments in health care services and health care technology companies.
• Symplr recently announced the acquisition of the Smart Square scheduling software from AMN Healthcare. Smart Square is a scheduling software designed primarily for health care organizations that combines predictive analytics with scheduling functionality to optimize workforce management. Specifically, the software helps forecast staffing needs and create more efficient schedules. Symplr, a health care operations software and services company, is backed by Clearlake Capital Group and Charlesbank Capital Partners. Clearlake Capital Group is a PE firm based in Santa Monica, California, that focuses investments in technology and consumer sectors. Charlesbank Capital Partners is a middle-market investment firm with offices in Boston and New York City.

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