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KKR Buys 1-800-Contacts in Multibillion-Dollar Deal
The private equity giant KKR (NYSE: KKR) has swooped in to buy 1-800-Contacts, a name we might all recognize from its catchy commercials. In case you don’t know, 1-800 Contacts is the largest seller of contact lenses in the U.S., serving more than 20 million customers for the last 25 years. The growing portfolio of innovative 1-800 Contacts brands includes Liingo Eyewear, 6over6, Boomerang, and Premium Vision. KKR is buying the company from AEA Investors for approximately $3.1 billion, according to sources cited in a report in PE Hub. AEA Investors has been the majority shareholder of 1-800 Contacts since 2015 when it purchased the company from Thomas H. Lee Partners, L.P. AEA... Read More »
WindRose Health Adds New Behavioral Health Platform
After a brief pause in the healthcare M&A market, WindRose Health Investors, LLC is back with a new investment. The private equity firm announced it acquired Caregiver Inc., a provider of behavioral services to adults with intellectual and developmental disabilities (IDD), for an undisclosed sum. It operates 800 properties in Texas, Tennessee, Indiana, and Ohio and employs 3,900 people. With WindRose’s investment, Caregiver will be able to expand into new markets across the United States and increase its market share within existing markets. WindRose purchased its stake from DW Healthcare Partners and Council Capital, who will both retain an ownership stake in the business going... Read More »
EyeCare Partners Had a Busy Second Quarter
It’s not surprising to find new deals weeks or months down the line, but EyeCare Partners announced a bunch of transactions from the second quarter — five to be exact — last week. EyeCare added Vitreous Retina Macula Specialists of New Jersey (Somerset, New Jersey), Foothills Eye Care (King, North Carolina ), 2020 Vision Care (St. Louis, Missouri), The Retina Clinic (Mine Hill, New Jersey), and Patel Retina Institute (Clarks Summit, Pennsylvania). EyeCare technically closed six deals in the second quarter, acquiring Phoenix-based Arizona Eye Institute & Cosmetic Laser Center, but that transaction was disclosed in late June, according to DSO. The six new acquisitions give... Read More »
Benefytt Technologies Gets New PE Investment
Madison Dearborn Partners, the Chicago-based private equity firm, isn’t a major investor in the healthcare market, especially compared with some other firms, but it did announce a new acquisition in July. The private equity firm purchased Benefytt Technologies, Inc. (NASDAQ: BFYT) for $420.7 million. Madison Dearborn paid $31 cash per share (13.57 million shares), a 59% premium over the 30-day volume-weighted average price per share of Benefytt’s common stock through the close of trading on July 10, 2020. Benefytt Technologies develops and operates private e-commerce health insurance marketplaces, purchaser engagement platforms, agency technology systems and insurance policy... Read More »
