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.

• EyeSouth Partners, backed by Olympus Partners, recently announced the acquisition of Sunvera Group. Sunvera Group is a management services organization that provides comprehensive support to ophthalmology practices and ambulatory surgery centers throughout the Great Lakes region. EyeSouth Partners will leverage the acquisition to expand its presence throughout the region by adding 15 practices and four ambulatory surgery centers across Michigan, Ohio and Pennsylvania. Olympus Partners is a PE firm based in Stamford, Connecticut that focuses investments in middle market leveraged buyouts and growth capital financings.
• GreyLion Partners recently announced a strategic growth investment in Slipstream IT. Slipstream IT is a technology partner that serves and supports the pharmaceutical and biopharmaceutical industry. The growth investment—which complements a prior equity investment from Denali Growth Partners—will allow Slipstream IT to continue investing in its people, systems and processes while also expanding its offerings in both new and existing markets. GreyLion Partners is a PE firm headquartered in New York, New York, that focuses investments in high-growth businesses in the lower middle market. Denali Growth Partners is a PE firm based in Boston, Massachusetts, that partners largely with health care technology companies.
• Brightstar Capital Partners recently announced the acquisition of Analyte Health. Analyte Health is a digital health company based in Houston, Texas, that specializes in providing direct-to-consumer diagnostics and treatment services. The company offers a scalable platform that integrates clinical testing, virtual care and prescription fulfillment to deliver a more patient-centered experience. Brightstar Capital Partners is a middle-market PE firm headquartered in New York, New York, that focuses investments in business services, consumer products and technology companies throughout the United States.
• Integrated Diagnostic Services, backed by HCAP Partners, recently announced the acquisition of Community of Nevada Diagnostics. Community of Nevada Diagnostics provides mobile imaging services such as x-ray, ultrasound and EKG to skilled nursing, long-term care and home health and hospice agencies in the Las Vegas and Reno areas. The acquisition marks the second add-on for Integrated Diagnostic Services and marks the next step toward creating a regional network of high-performing mobile diagnostic providers. HCAP Partners is a PE firm based in La Jolla, California, that provides mezzanine debt and equity to lower-middle-market companies across the country.

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