MARKET ANALYSIS

Healthcare M&A Weekly 6.5.23

JUN 5
The healthcare industry is rapidly evolving, with the lines betweeen the healthcare technology and services sectors blurring – creating the catalyst for innovation, transformation, and continued market activity. TripleTree’s Healthcare M&A Weekly summarizes recent activity and highlights the industry transactions shaping the future of healthcare.
 
  • CarepathRx Health System Solutions (CHSS), a CarepathRx company and portfolio company of Nautic Partners, announced a new strategic partnership and investment by Evernorth Health Services, a subsidiary of The Cigna Group (NYSE: CI). The strategic partnership brings together Evernorth's diverse specialty and care expertise with CHSS' robust pharmacy and infusion management capabilities, technology solutions, and health system relationships to improve, expand, and accelerate pharmacy care delivery for the growing number of patients with chronic and complex care needs. Read more here.
 
  • Codex IT, a national leader in healthcare technology solutions and managed services, has announced the acquisition of EyeDeal Consulting, a professional services company based in St Cloud, MN. This strategic acquisition is the third for Codex IT this year and will allow them to grow their professional services division and expand their customer base of patient and technology-focused healthcare organizations. Read more here.
 
  • Elevate ENT Partners, a Miami, FL-based ENT group backed by Audax PE, acquired Louisiana Ear, Nose, Throat and Sinus, a Baton Rouge, LA-based clinic network. This acquisition is in line with Elevate ENT Partners' national expansion strategy and marks its third major acquisition of the year. Read more here.
 
  • Ivy Fertility, a San Diego, CA-based fertility treatment services provider, acquired NOVA IVF, a Mountain View, CA-based fertility clinic. Ivy Fertility, backed by InTandem Capital Partners, owns 11 clinics and is continuing their expansion strategy throughout California. Read more here.
 
  • James River Cardiology, a Colonial Heights, VA-based full-service cardiology practice serving Richmond and the Tri-Cities region, has partnered with RC Capital to form Aligned Cardiovascular Partners. James River Cardiology operates six clinics and an office-based lab in the greater Richmond, VA market. Read more here.
 
  • MGG Investment Group has made a debt and equity investment to support Access & Integrated Practice Holdings’ acquisition of United Medical Systems, a Westborough, MA-based national provider of premier transportable and in-house urology solutions to hospitals, surgery centers, and offices. Access & Integrated Practice Holdings is a comprehensive mobile medical services platform formed by MGG in 2022 following its investment in Sightpath MedicalRead more here.
 
  • Strive Health, a Denver, CO-based kidney care company, announced that it has raised $166M in a Series C funding round. NEA and CVS Health Ventures, among others, led the round, while CapitalG (Alphabet)Echo VenturesTown Hall VenturesAscension Ventures and Redpoint also participated. Read more here.
 
  • Versant Diagnostics, an Oak Brook, IL-based physician services company focused on anatomic pathology backed by Iron Path, has partnered with PRW Laboratories, a dermatopathology laboratory based in Charlottesville, VA. Read more here.


This is a partial list of transaction activity across the healthcare industry and is not intended to be a complete listing. Transaction information was identified from various sources and TripleTree may or may not have acted as the financial advisor for the transactions listed. All product names, logos and brands are property of their respective owners. All company, product and service names used in this communication are for identification purposes only. Use of these names, logos and brands does not imply endorsement.
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