MARKET ANALYSIS

Healthcare M&A Weekly 4.15.24

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for April 15, 2024. 

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 mergers, acquisitions, and investments shaping the future of healthcare.

To view previous healthcare M&A activity, please review last week's post: Healthcare M&A Weekly - April 8, 2024.

---

• Alcanza Clinical Research, an investigator site network, has acquired Innovation Medical Research Center, a clinical research center. This transaction is the ninth acquisition since 2021 for Alcanza. Read more about the acquisition here.

 

• Cariloop, a Texas-based caregiving support platform for employers, raised $20M in Series C funding led by ABS Capital. Click here for more on the funding.

 

• Castleford Capital, a private equity firm specializing in healthcare and pharmaceutical services, has made an undisclosed growth investment in Rebound Medical Systems, a company that provides medical equipment to patients recovering from orthopedic and vascular surgical procedures. Read more about the investment here.

 

• Century Therapeutics, specializing in cell therapy for autoimmune diseases, has acquired Clade Therapeutics, for up to $45M. Learn more about the acquisition here.

 

• Elucent Medical, a medical technology company, announced the closure of its $42.5M Series C funding round. The proceeds will further the development and commercialization of its technologies for oncologic surgery. The financing was led by Vensana Capital and RC Capital. Click here for more on the funding.

 

• Gauge Capital, announced that it has partnered with the management team of Lucent Health to provide growth capital and recapitalize the Company. Lucent is a third-party administrator and cost containment solution provider to self-insured employers across the U.S. View the announcement here.

 

• Grow Therapy, a New York-based mental health startup, raised $88M in Series C funding. Sequoia Capital led, and was joined by Goldman Sachs, Plus Capital and others. Click here to learn here.

 

• Model N (NYSE: MODN), a provider of cloud revenue management solutions for life science and technology companies, announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners for $1.25B. Read more about the acquisition here.

 

• PACS Group, Inc. (PACS), a holding company investing in post-acute healthcare facilities, professionals, and ancillary services, announced the pricing of its initial public offering, for a total gross proceeds of approximately $450M. Learn more about the IPO here.

 

• Peak Rock Capital, a middle-market private equity firm, announced that it has signed a definitive agreement to acquire HuFriedyGroup, the dental segment of STERIS, for $788M. View the announcement here.

 

• Seaport Therapeutics, a clinical-stage biopharmaceutical company, announced the closing of $100M Series A financing round, co-led by ARCH Venture Partners & Sofinnova Investments. Read more about the financing here.

 

• Traumasoft, a provider of cloud-based software for private emergency medical services (EMS) agencies and healthcare organizations, announced that it has received a growth investment from Serent Capital, a growth-focused private equity firm. Learn more about the growth investment.

 

• Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) and Alpine Immune Sciences, Inc. (NASDAQ: ALPN), a biotechnology company focused on developing protein-based immunotherapies, announced that the companies have entered into a definitive agreement under which Vertex will acquire Alpine for $65 per share or approximately $4.9B in cash. The transaction is anticipated to close later this quarter. View the announcement here.

---

Transactions outlined in this summary highlight some of the key trends shaping the future of healthcare. Get the latest industry news from TripleTree every week.

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.