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.

• Great Hill Partners recently acquired a majority stake in Blue Cloud Pediatric Surgery Centers. Blue Cloud Pediatric Surgery Centers operates 32 facilities across 12 states and is the nation’s largest operator of pediatric ambulatory surgery centers. Following the investment, Blue Cloud intends to focus on accelerating expansion and strengthening partnerships with payors and providers across the country. Great Hill Partners is a PE firm based in Boston, Massachusetts that is active in the technology, health care and digital commerce industries.
• THL Partners announced a definitive agreement to acquire Headlands Research—a global clinical trial site network—from KKR in a transaction valued at approximately $600 million. The transaction is expected to facilitate Headlands Research’s expansion and increased delivery of trial data to biotech and pharma sponsors across the country. THL Partners is a Boston, Massachusetts-based PE firm that invests in middle-market companies across the health care, financial services and technology and business solutions sectors.
• SportsMed Physical Therapy—backed by Hildred Capital Management—recently announced a clinic acquisition in Ridgewood, New Jersey. The clinic offers a wide range of services, including physical therapy, occupational therapy and chiropractic care. Following the acquisition, SportsMed Physical Therapy will operate 49 clinics throughout New Jersey and Connecticut. Hildred Capital Management is a PE firm headquartered in New York, New York that focuses investments on middle-market companies within the health care sector.
• Rallyday Partners recently announced a strategic partnership with Elder Care Homecare. Elder Care Homecare is focused on providing home care for seniors across New York, New Jersey, Connecticut and Massachusetts. Following the partnership, Elder Care Homecare plans to leverage Rallyday Partners’ expertise to expand its ability to provide high-quality, concierge-level nursing and home care services to patients across the Northeast. Rallyday Partners is a PE firm headquartered in Denver, Colorado.

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