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The Stepping Stones Group Acquires CBEST in 3rd Deal of 2022
The Stepping Stones Group, a national provider of therapeutic, behavioral, autism, nursing and educational services for children in school, home and community settings, acquired the Center for Behavioral, Educational, and Social Therapies (CBEST) in the Los Angeles area. Hexagon Capital Alliance, a middle-market investment banking firm providing mergers & acquisitions, capital raise and strategic advisory services, represented CBEST in the transaction. Established in 2002, CBEST provides behavior therapy for students who have neurodevelopmental and/or emotional disorders such as autism spectrum disorder, attention deficit/hyperactivity disorder, speech/language issues and specific... Read More »
Patient Square Capital Makes Third Acquisition of the Year
Patient Square Capital, run by Jim Momtazee, acquired Hanger, Inc. (NYSE: HNGR) on July 21 for $1.25 billion, marking Patient Square’s third deal of the year. Headquartered in Austin, Texas, Hanger, Inc. provides orthotic and prosthetic (O&P) services through its patient care segment, with approximately 875 locations nationwide. It recorded revenue of more than $1.120 billion in 2021. Patient Square Capital was founded in 2020 and is based in Menlo Park, California. Hanger stockholders will receive $18.75 per share, representing an approximately 29% premium to the 30-day volume-weighted average price ending July 20, 2022. The transaction will be financed through a... Read More »
PE-Backed Fast Pace Health Completes Investment in First Care Clinics
Fast Pace Health, a portfolio company of private equity firm Revelstoke Capital Partners, announced on July 20 that it has completed an investment in First Care Clinics, which manages urgent care clinics in Kentucky and Indiana. First Care Clinics will be rebranded as Fast Pace in the coming months. Terms of the deal were not disclosed. The combination creates a multi-specialty provider of rural healthcare and value-based care population health management services offering more than 3 million annual patient visits in Tennessee, Kentucky, Louisiana, Mississippi, Indiana and Alabama. Brentwood Capital Advisors LLC served as financial advisor and Waller Lansden Dorch and Davis, LLP was... Read More »
GI Partners Acquires GTY Technology Holdings in $374 Million Deal
GI Partners, a private investment firm, announced it acquired GTY Technology Holdings Inc., a SaaS company that offers solutions for governments, educational institutions and healthcare organizations, for $374 million. GI Partners, founded in 2001, has more than 130 employees with offices in San Francisco, New York, Chicago, Greenwich, Scottsdale and Dallas. The firm’s assets under management total $35 billion and it invests primarily in companies in the healthcare, IT infrastructure, services and software sectors. Boston-based GTY Technology Holdings provides services spanning functions in procurement, payments, grant management, budgeting and permitting. GTY shareholders received $6.30... Read More »
Health Plans, Inc. Acquires Employers Health Network
Health Plans, Inc. (HPI) announced on July 11 that it acquired managed care organization Employers Health Network. Financial terms of the deal were not disclosed. HPI is a national third-party administrator that partners with health plan brokers and employers to provide self-funding strategies and customized plans, giving employers greater cost transparency and control. The company is based in Westborough, Massachusetts and was founded in 1981. Employers Health Network (EHN) is an Irving, Texas-based company that provides comprehensive healthcare plans. EHN’s plans connect employees directly with healthcare providers and its transparent pricing allows customers to see,... Read More »Schedule a demo
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