Healthcare M&A Weekly 9.18.23

SEP 18
The healthcare industry is rapidly evolving, with the lines between 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.
  • AQUA Dermatology, a Gryphon Investors and GTCR-backed provider of dermatology services in the Southeast US, has partnered with Sunrise Dermatology and Skin Cancer Surgery Center, a Mobile, AL-based general dermatology and Mohs surgery practice with a focus on skin cancer diagnosis and treatment. Read more here.
  • Bold, a Los Altos Hills, CA-based, leading healthy aging platform, announced $17M in Series A funding led by Rethink Impact, with participation from Samsung Next and existing investors Andreessen Horowitz (a16zBio + Health, Khosla VenturesGingerBread Capital, and Primetime Partners, bringing its total amount raised to $27M. Read more here.
  • Bow River Capital, a Denver, CO-based alternative asset manager, has provided funds to support the recapitalization of Veridian Healthcare by HealthEdge Investment Partners, LLC, United Western Group, and Advantage Capital Holdings, LLC. Read more here.
  • DirectMed Parts & Service, a San Diego, CA-based supplier of medical imaging parts for MRI and CT machines, backed by NMS Capital, acquired Technical Prospects, an Appleton, WI-based provider of parts, training, and support for medical imaging equipment. Read more here.
  • Generate:Biomedicines, a Cambridge, MA-based first drug generation company has raised $273M in Series C financing that attracted new investors including AmgenNVenturesNVIDIA’s venture capital arm, MAPS Capital (Mirae Asset Group); and Pictet Alternative Advisors. Read more here.
  • LabShares, a leading provider of shared laboratory facilities, advanced equipment, and associated services for life science and biotech customers, announced that life sciences industry veteran Philip Borden and investor Pacific Lake Partners have acquired a majority stake in the company. Read more here.
  • Marketlab, a Water Street Healthcare Partners-backed manufacturer of specialty healthcare products catering to the medical-surgical and laboratory segments, has acquired Medi-Tech International, a Brooklyn-based manufacturer specializing in wound care, labor-and-delivery, and patient safety products. Read more here.
  • MB2Dental, a Dallas, TX-based dental partnership organization backed by Charlesbank Capital Partners, announced a dental partnership with Eastridge Dental in Green Bay, WI. Read more here.
  • Nephron Pharmaceuticals Corporation, a West Columbia, SC-based manufacturer of generic respiratory medication, announced a $350M capital raise led by BlackRock Capital Investment Advisors and PNC Bank, National Association – to support future growth of the pharmaceutical manufacturer. Read more here.
  • Phorcys Capital Partners, an Alpharetta, GA-based investment firm, together with its capital partner, has acquired The Glen at Lake Oconee Village, a senior housing community located in Greensboro, GA. Read more here.
  • Quipt Home Medical Corp, a Wilder, KY-headquartered home medical equipment provider, has acquired a business with operations in Mississippi, Texas and Louisiana reporting unaudited annual revenues of approximately $9m. Read more here.
  • Rebalance Health, a Boulder, CO-based optimal health and performance company, has raised $7.37m in a Series C round. Read more here.
  • Renibus Therapeutics, a Southlake, TX-based clinical-stage biotech company focusing on the prevention and treatment of cardiorenal diseases, announced the close of an extension to its Series B financing round, bringing the total amount raised to $72M. Read more here.
  • ROME Therapeutics, a Boston, MA-based drug development company, has closed an oversubscribed $72M Series B extension financing, bringing the total amount raised in its Series B to $149M. Read more here.
  • Sempre Health, a San Francisco, CA-based provider of solution for behavior-based healthcare pricing, announced that it has secured $20M in additional funding.  Cencora Ventures, Echo Health Ventures, Blue Venture Fund, UPMC Enterprises and Industry Ventures were the participants in the round. Read more here.
  • Sonex Health, a leader in the ultrasound-guided treatment of common orthopedic syndromes affecting the extremities, announced the closing of a Series B financing, raising a total of $40M. KCK MedTech, a venture capital firm specializing in medical technology investments, led the company's Series A and Series B financings. Read more here.
  • Summus Global, a New York City-based virtual specialist platform, has raised $19.5M to support the company's continued growth and work to solve the access problem to high quality physicians. Read more here.
  • Valley Clinical Trials, based in Northridge, CA, has been acquired by Flourish Research, backed by NMS Capital. Read more here.
  • Waud Capital Partners announced the establishment of a new platform company, PharmAlliance Holdings, in partnership with executive leader Mark Bouck. 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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