Marlin Equity Exits AdvancedMD
Marlin Equity Partners is parting ways with AdvancedMD Software, Inc. The exit was announced on August 2, 2018, almost three years to the day that Marlin announced its acquisition of the company on August 6, 2015. Private equity firms are trading healthcare tech and services companies with abandon these days, and there’ve been several take-private deals and carve-outs announced this year. The largest to date is KKR & Co.’s (NYSE: KKR) $9.9 billion deal for Envision Healthcare Corp. (NYSE: EVHC), but we can add Altaris Capital Partners’ $1.1 billion acquisition of medtech company Analogic Corporation (NASDAQ: ALOG), Platinum Equity’s $2.1 billion deal for Johnson... Read More »
Veritas Capital Doubles Down on Digital Health
Veritas Capital Management has made some aggressive moves into the digital health space in recent years. Its investment focus is on companies that provide critical products and services, not just in healthcare, but also in aerospace and defense, communications, energy and education. So its recent activity is interesting, and expensive. In April 2016, Veritas paid $820 million to acquire Verisk Health from its parent, Verisk Analytics, Inc. (NASDAQ: VRSK). Verisk Health provides data services, analytics and advanced technology to support value-based healthcare delivery and payment systems. At the time of the sale, it had 350 clients in the United States. The price consisted of $720 million... Read More »
Cardinal Health Sells Majority Stake in NaviHealth
Cardinal Health (NYSE: CAH) does a lot of business with private equity firms, but usually as an acquirer, not a seller. In August 2015, Cardinal acquired NaviHealth from Welsh, Carson, Anderson & Stowe for $290 million. In June 2018, it sold a 55% stake in NaviHealth to Clayton, Dublier & Rice for an undisclosed amount. Cardinal’s initial stake was just 71% in 2015, but it added another 17% share in 2017 for $103 million. It will retain an approximately 45% interest in the company, and will have a call right to reacquire the business. The company said it would realize proceeds of $650 million after tax. Back in 2015, NaviHealth offered software and analytics products to help... Read More »
ResMed Adds HealthCareFirst to Home Health Solutions
Medical device maker ResMed (NYSE: RMD) is moving deeper into the Home Health & Hospice arena. The company announced its acquisition of HealthCareFirst, which provides software solutions for home health and hospice agencies. HealthCareFirst offers electronic health record (EHR) software, billing and coding services, and advanced analytics to help agencies optimize their clinical, financial and administrative processes. Financial terms were not disclosed. Pamlico Capital is the seller, having acquired HealthCareFirst in September 2012 from The Riverside Company. ResMed’s devices and software solutions help to treat and manage sleep apnea, chronic obstructive pulmonary disease... Read More »
SCIO Health Analytics Sold for $240 Million
ExlService Holdings, Inc. (NASDAQ: EXLS), a leading operations management and analytics company, deepened its investment in healthcare analytics with its announced $240 million acquisition of SCIOInspire Holdings, Inc. (SCIO), a West Hartford, Connecticut-based leading healthcare analytics solution and services company (dba SCIO Health Analytics). SCIO helps its clients identify and resolve underlying issues that lead to excessive spending and sub-optimal health outcomes. Together, the companies will provide a broader range of solutions in payment integrity, care management and customer engagement. TripleTree, LLC acted as the exclusive financial advisor to SCIO for this... Read More »Schedule a demo
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