Private equity firm WindRose Health Investors, LLC announced that it has completed the acquisition of CardioOne Inc. WindRose partnered with CardioOne’s executive team to acquire the business and to provide up to $100 million of additional capital to support CardioOne’s ongoing growth.
Launched in 2023, CardioOne is a physician enablement company that enables independent cardiology practices to unlock their potential. The company is a management services partner that provides physicians with an integrated technology platform, a practice optimization program, a workforce solution and a growth engine.
WindRose Health Investors, formerly MTS Health Investors, makes private equity investments in businesses that operate within the services sectors of healthcare. WindRose is based in New York City and invests in companies throughout the United States.
With WindRose’s investment, CardioOne will accelerate its next phase of expansion and enhance its existing service offerings. CardioOne’s current management team will continue to lead the company and remain active shareholders going forward.
McDermott Will & Emery LLP and Bass, Berry & Sims PLC acted as legal advisors to WindRose and Kastner Gravelle LLP acted as legal advisor to CardioOne. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this marks the seventh transaction in the management services organization (MSO) specialty during 2024. The MSO M&A market is already more active in the first few months of 2024 than the entirety of 2023, when six transactions were announced. There were seven MSO transactions announced throughout 2022.
