WellSky Acquires Corridor, Expands RCM Services for Post-Acute Industry

WellSky Acquires Corridor, Expands RCM Services for Post-Acute Industry

by | Oct 13, 2023 11:34 am | eHealth, Private Equity | 0 comments

WellSky announced that it has acquired The Corridor Group from HealthEdge Investment Partners, a healthcare-focused private equity firm. By adding Corridor to its portfolio, WellSky will expand its medical coding and revenue cycle management (RCM) offerings to help post-acute care providers increase efficiency and improve performance across clinical, financial, operational and compliance areas.  Founded in 1989, Corridor is a provider of outsourced coding, RCM and education solutions to the post-acute healthcare industry. Corridor has delivered solutions to thousands of clients ranging from large health systems and national chains to smaller, independently operated agencies. ... Read More »
MDVIP Gets New PE-Sponsors

MDVIP Gets New PE-Sponsors

by | Aug 23, 2021 9:48 am | Other Services | 0 comments

The primary care operator MDVIP is being traded in a new deal announced last week. Goldman Sachs Asset Management Private Equity, the primary investing area within Goldman Sachs, and Charlesbank Capital Partners, a middle-market private investment firm with more than $15 billion of capital raised since inception, are taking majority ownership in MDVIP from Leonard Green & Partners. MDVIP was bought by Leonard Green & Partners in 2017 from Summit Partners, and the latter has maintained minority ownership until now. No financial terms were disclosed in the new deal. MDVIP provides membership-based healthcare with a national network of over 1,100 primary care physicians serving... Read More »
PE Firms Trade WIRB-Copernicus for $3 Billion

PE Firms Trade WIRB-Copernicus for $3 Billion

by | Nov 15, 2019 4:23 pm | CRO, Other Services, Private Equity | 0 comments

Leonard Green & Partners, L.P won the auction to acquire WIRB-Copernicus Group (WCG) from Arsenal Capital Partners for $3 billion. The purchase value was originally reported in PE Hub Buyouts. WCG is a clinical services organization that enables biopharmaceutical companies, contract research organizations and institutions to accelerate the delivery of new treatments and therapies to patients. Arsenal will retain a stake in WCG. It acquired the company in March 2012 and led its recapitalization in August 2016 alongside other investors, including MSD Partners, the family office of Michael Dell. WCG has an estimated EBITDA of $175 million for 2019. WCG has been relatively quiet on the... Read More »
U.S. Renal Care Gets Big New Backers

U.S. Renal Care Gets Big New Backers

by | Feb 22, 2019 4:13 pm | Laboratories, MRI & Dialysis, Private Equity | 0 comments

U.S. Renal Care has new owners, as of February 13. It marks the first renal-related transaction in 2019 and it won’t be the last. The national dialysis provider was backed by a consortium of private equity firms such as Leonard Green & Partners, Frazier Healthcare Partners, New Enterprise Associates and Cressey & Company. Stepping in to take over is Bain Capital Private Equity, Summit Partners and Revelstoke Partners, with participation by the company’s executive management team. Financial terms were not disclosed, naturally. U.S. Renal Care works with nephrologists to develop, acquire and operate outpatient treatment centers for people suffering from chronic kidney... Read More »
Air Methods Corp. Flies to American Securities

Air Methods Corp. Flies to American Securities

by | Mar 17, 2017 4:44 pm | Hospitals, Other Services, Private Equity | 0 comments

Air Methods Corporation (NASDAQ: AIRM), a global air medical transportation company, has been on the acquisition trail since the late 1990s, announcing 12 deals targeting smaller air ambulance operators. Now it’s a takeover target itself, thanks to activist shareholder Voce Capital Management LLC. Voce Capital, and its managing director J. Daniel Plants, had been calling for Air Methods management to put the company on the block as far back as 2015. In February 2017, the investment firm launched a fight for four board seats and publicly criticized AIRM’s financial returns and “a multi-year syndrome of operational, strategic and governance failures.” Air Methods... Read More »