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Numotion Moves to AEA Investors
Audax Private Equity and LLR Partners have exited their jointly held rehab company, Numotion, which has been a major player in consolidating the complex rehabilitation technology (CRT) market. AEA Investors is the new owner. The target provides complex rehabilitation technology (CRT), including manual and power wheelchairs designed to meet the unique medical and functional needs of individuals with significant disabilities and medical conditions. Numotion was formed in January 2013 through the merger of United Seating Mobility and ATG Rehab. Audax Private Equity acquired ATG Rehab in January 2011, and LLR Partners acquired United Seating and Mobility in February 2011. Since then, the... Read More »
October 2018 Healthcare Deal Spending Breaks Even
Spending on healthcare deals in the month of October didn’t match the surge in deal volume (see separate post). At $9.4 billion, October 2018 posted a slight 4% gain over September, but was 25% lower than the $12.6 billion spent in October 2017. Of course, we can only go by disclosed prices, and several transactions that did not disclose financial terms would probably boost the month’s total by at least a few billion dollars. H.I.G. Capital’s acquisition of Correct Care Solutions, is a case in point. Co-owners Audax, GTCR and Frazier Healthcare sold Correct Care, which provides medical and behavioral health services for nearly 250,000 patients in 38 U.S. states and in Australia. Only... Read More »
Avella Specialty Pharmacy Goes to OptumRx
The auction for Riordan, Lewis & Haden’s portfolio company, Avella Specialty Pharmacy, was well under way back in February, according to industry sources. UnitedHealth Group’s (NYSE: UNH) Optum was reported to be in the lead, and then things went dark. It wasn’t until UnitedHealth Group’s third quarter earnings report was published on October 16 that the story ended. Some time in the third quarter, Optum acquired Avella and tucked it into its OptumRx pharmacy services subsidiary. The price wasn’t disclosed, but PEHub cited two sources saying the deal was valued at around $325 million. That’s pretty low, considering Avella’s previously disclosed... Read More »
Anju Software Makes a Deal for Zephyr Health
Anju Software has had a busy year, making three transactions public in the first three quarters of 2018. Its latest deal is for Zephyr Health, a San Francisco-based startup backed by Kleiner Perkins Caulfield & Byers, Icon Ventures and Google Ventures. Anju, a life sciences software platform, is backed by Providence Equity Partners. Its integrated platform spans clinical, medical affairs and after-market solutions. Zephyr provides comprehensive physician, institution and treatment data for every major disease area. It uses proprietary algorithms to link disparate data sources in an effort to deliver actionable insights. This deal continues Anju’s strategy to combine robust... Read More »
Bain Capital Builds a Home Health Platform
Bain Capital Double Impact, the impact investing business of Bain Capital, waded into the Home Health Care sector last week. The fund acquired two regional companies on both coasts in order to combine them and create a national home care platform for older adults called Arosa+LivHome. Arosa, based in Durham, North Carolina, operates Nurse Care of North Carolina and Developmental Therapy Associates. The companies provide non-medical in-home care, skilled in-home care, pediatric therapy and facility staffing throughout central and eastern North Carolina. Out in Los Angeles, LivHome offers a personalized suite of in-home care and care management solutions to residents of California, Illinois... Read More »Schedule a demo
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