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Avantik Partners With Water Street, Appoints New CEO

Avantik Partners With Water Street, Appoints New CEO

by | Feb 16, 2023 12:09 pm | Laboratories, MRI & Dialysis, Private Equity

Pine Brook, New Jersey-based Avantik has announced a partnership with strategic healthcare investor Water Street Healthcare Partners. Water Street has committed significant capital in addition to its diagnostics experience and network of relationships to advance the next phase of Avantik’s expansion. Working with Water Street, Avantik plans to invest in organic initiatives and acquisitions to expand its portfolio of consumables and equipment and enhance its maintenance and repair services. Avantik and Water Street have appointed Mark Zacur, executive advisor at Water Street, as CEO of Avantik. Terms of the deal were not disclosed. Founded in 1971, Avantik supports anatomic pathology... Read More »
Waud Capital-Backed Ivy Rehab Acquires Excel Physical Therapy

Waud Capital-Backed Ivy Rehab Acquires Excel Physical Therapy

by | Feb 15, 2023 1:19 pm | Private Equity, Rehabilitation

Ivy Rehab, a portfolio company of middle-market private equity firm Waud Capital Partners, announced its acquisition of Excel Physical Therapy, which provides care to patients in 24 clinics throughout New Jersey. This marks Ivy Rehab’s first transaction of 2023. The partnership with Excel Physical Therapy brings an additional 24 clinics to Ivy Rehab’s more than 100 New Jersey locations. Terms of the deal were not disclosed. Founded in 2003, Ivy Rehab is a network of outpatient physical, occupational and speech therapy and ABA clinics throughout the U.S. According to data captured in the LevinPro HC database, this acquisition marks the sixth Rehabilitation transaction of 2023.... Read More »
Prosperity Behavioral Health Acquires Elevated Billing

Prosperity Behavioral Health Acquires Elevated Billing

by | Feb 14, 2023 1:52 pm | eHealth, Private Equity

Prosperity Behavioral Health announced on February 14 that it has acquired Elevated Billing, a South Jordan, Utah-based revenue cycle management (RCM) company that serves behavioral health facilities. The acquisition will create new market opportunities and expand Prosperity’s service offerings. Terms of the deal were not disclosed. Prosperity Behavioral Health is a national provider of financial solutions for behavioral health facilities. Prosperity’s suite of financial services includes RCM, financial analysis and reporting, corporate strategy and back-office operations. Private equity firm NewSpring Capital invested in Prosperity in 2022. According to data captured in the LevinPro HC... Read More »
ImageTrend Announces Strategic Growth Investment From WCAS

ImageTrend Announces Strategic Growth Investment From WCAS

by | Feb 9, 2023 2:29 pm | eHealth, Private Equity

ImageTrend, Inc. announced an equity investment from Welsh, Carson, Anderson & Stowe (WCAS). Robert W. Baird & Co. acted as the financial advisor for ImageTrend. Kirkland & Ellis LLP served as legal counsel and Shea & Co. served as financial advisor to WCAS. Terms of the deal were not disclosed. ImageTrend delivers software solutions, data analytics and services for EMS departments, hospitals, community paramedicine (CP), critical care, fire and preparedness functions to enable fully integrated patient-centric healthcare and public safety. WCAS is a private equity firm focused on two target industries, technology and health care. Since its founding in 1979, the firm has... Read More »
Ampersand-Backed Sterling Medical Devices Merges With RBC Medical Innovations

Ampersand-Backed Sterling Medical Devices Merges With RBC Medical Innovations

by | Feb 8, 2023 12:34 pm | Medical Devices, Private Equity

Sterling Medical Devices, a portfolio company of private equity firm Ampersand Capital Partners, announced on February 8 its recapitalization and simultaneous merger with RBC Medical Innovations. RBC brings additional design and development capacity, including expertise in energy-based electromechanical devices, as well as manufacturing capabilities to the combined organization. As part of the transaction, MedTech industry executive David Montecalvo has been appointed CEO of the combined company. Sterling Founder Dan Sterling will remain on the senior leadership team and a board director. RBC Founder Carl Mayer has joined the board of directors. RBC Medical Innovations is a medical device... Read More »
PE Firm Shore Capital Partners Sells Argentum Medical to BioDerm

PE Firm Shore Capital Partners Sells Argentum Medical to BioDerm

by | Feb 7, 2023 12:58 pm | Medical Devices, Private Equity

Chicago-based private equity firm Shore Capital Partners announced the sale of Argentum Medical to BioDerm, a portfolio company of Denver-based private equity firm Mountaingate Capital. The transaction closed on January 31, 2023. Moelis & Company served as financial advisor to Argentum and Winston & Strawn LLP served as legal advisor to Shore and Argentum. Terms of the deal were not disclosed. Based in Geneva, Illinois, Argentum is a provider of infection prevention solutions for the management of wounds. Notably, it manufactures Silverlon, a silver-plated nylon dressing with unique antimicrobial properties. Argentum’s product lines include surgical, burn care, wound care, negative... Read More »