Carlyle and SK Capital Partners Announce Extension of bluebird bio Tender Offer to May 12, 2025

Carlyle

WASHINGTON, DC and NEW YORK, NY—May 2, 2025—Carlyle (NASDAQ: CG) (“Carlyle”), SK Capital Partners, LP (“SK Capital”) and Beacon Parent Holdings, L.P. (“Parent”) today announced that Beacon Merger Sub, Inc. (“Merger Sub”) has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding common stock of bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird”), to expire at one minute after 11:59 p.m., New York City time, on May 12, 2025.  The Offer was previously scheduled to expire one minute after 11:59 p.m., New York City time, on May 2, 2025. The tender offer was extended to allow additional time for the satisfaction of the remaining conditions to the tender offer, including receipt of applicable regulatory approvals.

Equiniti Trust Company, LLC, the depositary for the Offer, has advised Merger Sub that as of the close of business on May 1, 2025, approximately 936,791 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the Offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.

The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated March 7, 2025 (as amended or supplemented from time to time, the “Offer to Purchase”), the related letter of transmittal and certain other offer documents, copies of which are attached to the tender offer statement on Schedule TO filed by Parent and Merger Sub with the U.S. Securities and Exchange Commission (the “SEC”) on March 7, 2025, as amended.

The Offer is conditioned upon the fulfilment of certain conditions described in “Section 15—Conditions to the Offer” of the Offer to Purchase, including, but not limited to, the tender of a majority of the outstanding shares of bluebird, receipt of applicable regulatory approvals, and other customary closing conditions.

About bluebird bio, Inc.

Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader. bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years. Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.

With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, ß-thalassemia, and cerebral adrenoleukodystrophy. We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.

bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SK Capital 

SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com. 

 

Additional Information and Where to Find It

This communication is not an offer to buy nor a solicitation of an offer to sell any securities of bluebird. The solicitation and the offer to buy shares of bluebird’s common stock is only being made pursuant to the Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials, that Parent and Merger Sub filed with the SEC. In addition, bluebird filed with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Investors may obtain a free copy of these materials and other documents filed by Parent, Merger Sub and bluebird with the SEC at the website maintained by the SEC at www.sec.gov. Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by (i) bluebird under the “Investors & Media” section of bluebird’s website at www.bluebirdbio.com or (ii) by Parent and Merger Sub by calling Innisfree M&A Incorporated, the information agent for the Offer, toll-free at (877) 825-8793 for stockholders or by calling collect at (212) 750-5833 for banks or brokers.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF BLUEBIRD AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER.

Investors & Media Contacts 

Bluebird 

Investors: 

Courtney O’Leary

978-621-7347

coleary@bluebirdbio.com

Media: 

Jess Rowlands

857-299-6103

jess.rowlands@bluebirdbio.com

 

Carlyle 

Media: 

Brittany Berliner

+1 (212) 813-4839

brittany.berliner@carlyle.com

SK Capital 

Ben Dillon

+1(646)-278-1353  

bdillon@skcapitalpartners.com

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Madison Dearborn Partners to Acquire Significant Ownership Position in NextGen Healthcare

Thomabravo

Partners with Company Management and Thoma Bravo to Support NextGen Healthcare’s Growth

CHICAGO & SAN FRANCISCO & REMOTE-FIRST COMPANYMadison Dearborn Partners, LLC (“MDP”), a leading private equity investment firm based in Chicago, today announced that it has signed an agreement with Thoma Bravo, a leading software investment firm, to acquire a significant ownership position in NextGen Healthcare, Inc. (“NextGen Healthcare” or the “Company”), a leading provider of innovative healthcare technology and data solutions. Thoma Bravo will retain a significant ownership position in NextGen Healthcare. MDP will partner with Thoma Bravo and NextGen Healthcare’s management team to support NextGen Healthcare’s growth.

Founded in 1974, NextGen Healthcare provides Electronic Health Record and Practice Management software and services that allow healthcare practices to focus on delivering better healthcare outcomes for patients and increase clinical quality and productivity. Since acquiring NextGen Healthcare in a take-private transaction in 2023, Thoma Bravo has helped the Company modernize and enhance its capabilities, solutions, and operating structure to enhance the client experience. Additionally, the Company has achieved meaningful organic growth, improved profit margins, and hired new executive leaders devoted to further enhancing its technology and services to provide a superior user experience. As investment partners, Thoma Bravo and MDP will support NextGen Healthcare’s leadership team in continuing to execute the Company’s growth strategy to deliver best-in-class solutions to more healthcare clients.

“We are delighted to partner with MDP and Thoma Bravo to accelerate our investment in developing and delivering transformational solutions to the ambulatory healthcare marketplace,” said David Sides, Chief Executive Officer of NextGen Healthcare. “Our employees, clients, and partners are unified behind our vision of achieving Better Healthcare Outcomes for All. By combining our deep healthcare domain expertise with MDP’s extensive healthcare experience and Thoma Bravo’s renowned software operational expertise, we believe we can deliver on that vision faster.”

Srinivas (Sri) Velamoor, President and Chief Operating Officer of NextGen Healthcare, added, “We are excited to partner with MDP and Thoma Bravo to accelerate the next phase of our growth, and help our clients achieve market leading performance and efficiency fueled by new AI-driven capabilities. We are leveraging AI and automation to elevate every step of the provider and patient journey.”

“NextGen Healthcare has a proven track record of delivering innovative software solutions that enable healthcare practices across the country to improve the patient experience,” said Jason Shideler, Partner and Co-Head of Healthcare at MDP. “We are excited to partner with NextGen Healthcare’s management team and Thoma Bravo to help the Company expand its software offering and assist even more providers in operating efficiently and delivering seamless care to their patients.”

“It’s been a joy working alongside David, Sri and the NextGen management team helping to accelerate our long-term mission of Better Healthcare Outcomes for All,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “We see so much innovation and opportunity ahead, and working with the MDP team again on these opportunities is an exciting endeavor.”

“We are incredibly proud of what we have accomplished in partnership with David, Sri and the entire NextGen Healthcare team since our initial investment in 2023,” added Peter Hernandez, a Senior Vice President at Thoma Bravo. “Together, we have significantly accelerated the Company’s business strategy and product roadmap to help deliver exceptional outcomes for providers and patients. We look forward to continuing to apply our operational and software capabilities to drive continued growth.

The deal, which is subject to customary regulatory approvals, is expected to close in the second quarter of 2025.

Advisors
Goodwin Procter LLP is serving as legal counsel to NextGen Healthcare and Thoma Bravo. Kirkland & Ellis, LLP is serving as legal counsel to MDP.

About NextGen Healthcare, Inc.
NextGen Healthcare, Inc. is a leading provider of innovative healthcare technology and data solutions. We are reimagining ambulatory healthcare with award-winning EHR, practice management and surround solutions that enable providers to deliver whole-person health and value-based care. Our highly integrated, intelligent, and interoperable solutions increase clinical quality and productivity, enrich the patient experience and drive superior financial performance. We are on a relentless quest to achieve better healthcare outcomes for all. Learn more at nextgen.com, and follow us on Facebook, X, LinkedIn, YouTube, and Instagram.

About Madison Dearborn Partners
Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of more than $31 billion and has completed over 160 platform investments. MDP invests across four dedicated industry verticals, including healthcare, basic industries, financial services, and technology & government. Drawing on deep industry and operational expertise, MDP works closely with management teams to drive value creation and operational improvement across its portfolio. For more information, please visit www.mdcp.com

About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

Read the release on Business Wire here.

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ChiroHD Raises $26M of Growth Capital from Mainsail Partners

Mainsail partners

Investment to support continued product innovation and customer support for ChiroHD’s practice management software dedicated to chiropractors

Atlanta, GA – April 29, 2025 – ChiroHD, a leading cloud-based practice management system for chiropractors, has secured $26 million in growth capital from Mainsail Partners, a growth equity firm investing in vertical SaaS companies, to help accelerate product innovation, enhance platform experience, and expand customer support.

Created by chiropractors and software veterans, ChiroHD is a comprehensive chiropractic SaaS platform offering scheduling, EHR, texting, insurance management, integrated financials, and care management. Built natively in the cloud and aimed at taking practices to the next level, ChiroHD features clean workflows and seamlessly integrated tools designed to support clinics of all sizes—from new practices to high-volume clinics and multi-office franchises.

“Mainsail is the ideal partner to help drive our vision forward, as their investment and resources will enable ChiroHD to continue to deliver on our commitment to the chiropractic industry,” said Gabriel Doty, CEO and Co-Founder of ChiroHD. “We are focused on enhancing and improving the product, exploring how we can incorporate AI, adding to our already strong customer support, and continuing our mission to make it easier for our clinics to serve their patients and communities.”

“Chiropractors have long needed a modern, cloud-based practice management system designed specifically for their industry,” said Anthony Hayes, Principal at Mainsail Partners. “Gabriel and Luke purpose-built a feature-rich platform that meets this need, and we are excited to support them as they deepen their focus on delivering the most intuitive, modern practice management solution exclusively for chiropractic practices.”

“Partnering with Mainsail will help us accelerate our vision of delivering practice management software that sets the standard— software that our customers love and confidently recommend to their peers, that provides lasting value to the chiropractic community, and that allows them to spend their time improving the health of their patients,” added Luke Doty, CTO and Co-Founder of ChiroHD. “With more than two decades of experience scaling vertical SaaS businesses, we believe Mainsail will be a highly valuable partner to help take our product, company, and customers to the next level of growth.”

Founders Advisors served as the exclusive financial advisor to ChiroHD in this transaction.

About ChiroHD:

More than just a cloud-based EHR solution, ChiroHD is a passionate advocate for the chiropractic community. Founded on the belief that technology should empower rather than complicate, ChiroHD was designed to be a comprehensive practice management system specifically for chiropractors. Our cloud-based platform runs an entire practice from a single browser tab, eliminating the need for on-site servers or complicated installations. With a 4.9-star support satisfaction rating, we partner with practitioners from single-doctor offices to multi-location groups and franchises.

ChiroHD’s mission extends beyond software. We also actively collaborate with major chiropractic universities on research initiatives to advance the profession. At our core, we believe technology should serve people, not the other way around, giving chiropractors more time to focus on what truly matters: providing exceptional care to patients.

For more information, visit www.chirohd.com.

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Suvoda and Greenphire Announce Completion of Merger

Thomabravo

CONSHOHOCKEN, PA and KING OF PRUSSIA, PA—Suvoda, a global clinical trial technology company specializing in randomization and trial supply management, consent, and patient outcomes data collection solutions for complex, life-sustaining studies, and Greenphire, a leader in clinical trial payments, financial management, and patient support tools, today announced the successful completion of their previously announced merger, bringing the two companies under common ownership and management.

Through this merger, the combined company is now better equipped to provide a comprehensive solution to its customers to support the urgent and mission critical moments of their clinical trials. Its customers will have access to an expanded set of capabilities, while continuing to benefit from its steadfast commitment to high-quality services and support. The combined solutions will be unified on a powerful platform that will simplify workflows and ease the experience of running and participating in a clinical trial. The unified data layer will deliver greater insight to empower sponsors, sites, and patients to make more informed and nuanced decisions about their trials.

The combined company will be known as Suvoda. Meaning “the dawn of wellbeing” in Sanskrit, Suvoda reinforces the promise to ease the patient, site, and sponsor experience in clinical trials and contribute to advancing health globally. The name Greenphire will continue at the product level.

The company will be led by Chief Executive Officer Jagath Wanninayake, Suvoda’s Founder and CEO. Thoma Bravo, a leading software investment firm, is the lead strategic investor in the combined company, with Bain Capital Tech Opportunities Fund and LLR Partners making a significant minority investment.

“We are thrilled to announce the completion of our merger and the beginning of our new journey together,” said Jagath Wanninayake, CEO of the combined company. “This partnership represents a significant milestone in our mission to optimize the financial and operational aspects of clinical trials. As one firm, we are now better able to deliver for our customers by meeting their evolving needs and providing them with enhanced solutions that will drive efficiency, reduce costs, and ultimately improve patient outcomes.”

About Suvoda
Suvoda is a global clinical trial technology company specializing in complex, life-sustaining studies in therapeutic areas like oncology, central nervous system (CNS), and rare diseases. Founded in 2013 by experts in eClinical technologies, Suvoda empowers clinical trial professionals to manage the most urgent moments in the most urgent trials through advanced software solutions delivered on a single platform. Headquartered outside Philadelphia, Suvoda also maintains offices in Portland, OR, Barcelona, Spain, Bucharest and Iasi, Romania, and Tokyo, Japan. The company’s Net Promoter Score (NPS) consistently exceeds the technology industry average, contributing to the company being selected by trial sponsors and CROs to support more than 1,800 trials across 95 countries. To learn more, visit suvoda.com. Follow Suvoda on LinkedIn.

About Greenphire
Greenphire is the pioneer in financial management and patient support for global clinical trials. From participant reimbursements, travel, and engagement to study budgeting and data, site payments, and more, the company connects the dots across disparate processes and stakeholders to get studies done faster. Founded in 2008 and guided by a dedication to site and participant experience, Greenphire’s best in class solutions accommodate regional workflow preferences, navigate challenging regulatory demands, and address the unique needs of every patient. Greenphire currently supports more than one million active trial participants and more than 25,000 investigative research teams at sites in 80 countries worldwide. Greenphire Means GO. To learn more, we invite you to visit greenphire.com and follow us on LinkedIn.

Read the release on PR Newswire here.

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Lexington Medical Secures Growth Investment from Ampersand Capital Partners

Ampersand

Bedford, Massachusetts, April 17, 2025 /PRNewswire/ – Lexington Medical (“Lexington”), a leader in minimally-invasive surgical stapling solutions, today announced a strategic investment by Ampersand Capital Partners (“Ampersand”), a private equity firm specializing in growth equity investments in the healthcare and life sciences sectors. The partnership underscores Ampersand’s confidence in Lexington’s potential to redefine surgical stapling standards and positions the company for accelerated growth in product innovation, smart manufacturing, and global market expansion.

Founded in 2013 and headquartered in Bedford, MA, Lexington Medical designs and manufactures high-performance endoscopic stapling devices, which are proudly made in the USA and used in a wide range of surgical procedures. With international offices in Switzerland, Australia, Germany, and the UK, and a team of approximately 150 employees, Lexington has built a patented portfolio of over 40 SKUs that are trusted by surgeons in more than 35 countries. Its flagship AEON™ and AEON™ Powered Stapling platforms are recognized as the most advanced stapling platforms available, featuring proprietary technologies that deliver superior clinical outcomes.

“The investment from Ampersand is a testament to Lexington’s impressive growth and strategic vision,” said Leon Amariglio, Founder and CEO of Lexington Medical. “This investment will expedite our innovation pipeline, expand our global reach, and create new opportunities for talented professionals to join us in shaping the future of surgical care, all while maintaining our commitment to best-in-class quality control and US manufacturing.”

“Lexington is an impressive company with a strong culture of innovation, exceptional leadership, and a commitment to quality and performance that is unmatched” said Trevor Wahlbrink, General Partner at Ampersand. “We are excited to partner with Leon and his team to further strengthen their position in surgical stapling.”

This partnership comes at a pivotal time as Lexington Medical expands its world-class team to meet the growing demand for its stapling solutions. Interested candidates and collaborators are invited to visit www.lexington-med.com/careers or contact careers@lexington-med.com to learn more about career and partnership opportunities.

About Lexington Medical

Founded in 2013, Lexington Medical, Inc. is a rapidly growing Bedford, Massachusetts-based company disrupting minimally invasive surgical stapling. Its AEON™ Endostapler sets the standard for precision, performance and clinical outcomes, trusted by surgeons in over 35 countries. Rooted in an engineering driven and talent-dense, collaborative culture, Lexington drives continuous innovation through U.S.-based design and manufacturing, working closely with leading surgeons to enhance patient outcomes. Learn more at www.lexington-med.com or follow us on LinkedIn.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.

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Grupo GSH’S next stage of growth backed by leading global investor CVC

CVC Capital Partners

Grupo GSH (“GSH”), a leading healthcare services provider in Brazil, is pleased to welcome CVC Capital Partners IX as its new majority shareholder. The new partnership will continue GSH’s strong service level culture and accelerate growth in both its existing core markets and through expansion into new product categories and patient services. CVC Funds will acquire the business from Rede D’Or, the largest integrated health care network in Brazil, and from private equity fund Opus Investimentos, which have supported the development of GSH for more than eight years. GSH will remain as the main provider of hemotherapy services to Rede D’Or.

Headquartered in Rio de Janeiro, Brazil, GSH is a pioneer in Brazil’s hemotherapy and nuclear medicine space with leading market positions, delivering mission-critical services and products at an attractive value proposition to hospitals and diagnostic centres. The hemotherapy division serves 31,000 beds in +270 hospitals through long-term contracts providing blood collection, storage and transfusion services. The nuclear medicine division develops and services radiopharmaceutical products and solutions focused on diagnostics and therapeutics for hospitals, diagnostics and cancer centres in Brazil. Facilities include cold kit plant, radiopharmacies and cyclotrons.

Paulo Moll, CEO at Rede D’Or, said: “GSH has demonstrated RDSL’s ability to successfully develop complementary services that enhance our core hospital services, providing the very best care consistent with RDSL’s network. After eight years supporting and nurturing GSH it is time for the business to welcome a new investor to help accelerate its growth and we are delighted to welcome CVC as the new steward for the company. We look forward to working with them and to continuing to offer GSH’s high-quality services to our patients.”

Marcos Faccioli, GSH management representative, commented: “The interest of CVC in GSH confirms the success of our trajectory. A history built with the support of RDSL and Opus together with our employees, clients, suppliers and partners. We are very excited in welcoming CVC as the new majority shareholder and to work with the CVC team on the development of our business and on continuing to provide world class products and services to our clients and their patients.”

Quotes

GSH represents CVC’s first healthcare investment in Latin America, building on our strong local presence in Brazil and our broad healthcare portfolio of over 25 businesses worldwide.

Fernando PintoPartner and Head of Latin America at CVC

Fernando Pinto, Partner and Head of Latin America at CVC, added: “GSH represents CVC’s first healthcare investment in Latin America, building on our strong local presence in Brazil and our broad healthcare portfolio of over 25 businesses worldwide. We are excited to partner with GSH’s management team to continue strengthening its high-quality hemotherapy and fast-growing nuclear medicine services, while also expanding into new complementary areas. We are proud to have been selected as GSH’s next long-term partner.”

The closing of the transaction is subject to approval by the relevant regulatory authorities and is expected in Q3 2025.

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EQT to sell Karo Healthcare, a Leading Pan-European Consumer health Platform, to KKR

eqt

Karo Healthcare

  • Under EQT’s ownership, Karo has transformed from a Nordic specialty pharma business into a pan-European consumer healthcare platform, driven by strong organic growth, eight strategic acquisitions, and investment in digitalisation and in-house commercial capabilities
  • KKR will support Karo’s continued growth by leveraging its deep sector expertise, global network, and a long-term investment approach to drive innovation, internationalization, and further brand growth and acquisitions
  • Karo now operates a diversified portfolio of trusted consumer health brands with leadership positions in European markets and a scalable, digitally enabled platform

EQT and KKR today announced that EQT VIII fund (“EQT”) has agreed to sell Karo Healthcare (“Karo” or the “Company”) to KKR. The acquisition marks the next chapter for Karo, as it continues to accelerate its growth strategy under KKR’s ownership, building on its transformation into one of Europe’s leading consumer health platforms since EQT’s initial investment.

Karo is a leading pan-European consumer healthcare company headquartered in Stockholm, Sweden. The Company operates an attractive product portfolio spanning core categories such as Skin Health, Foot Health, and Intimate Health, as well as Digestive Health and Vitamins, Minerals & Supplements. During the past five years, Karo has scaled substantially, quadrupling in sales, building leading digital capabilities and establishing market presence to reach consumers in more than 90 countries with top brand positions across European markets.

Under EQT’s ownership since 2019, Karo has undergone a significant strategic repositioning, shifting from a specialty pharmaceutical company focused on the Nordics into becoming a pan-European pure-play consumer healthcare platform. During this time, with M&A having been a cornerstone of Karo’s growth strategy, Karo completed eight acquisitions from industry players which have enriched Karo’s portfolio, strengthened its presence in key markets, and accelerated its entry into new geographies.

Commenting on the transaction, Christoffer Lorenzen, CEO of Karo Healthcare, said: “We’re incredibly proud of what we’ve achieved in recent years and grateful to EQT for their partnership, which has been instrumental in helping us grow and evolve into the business we are today. With KKR as our new owner, we are entering an exciting next phase in our journey. Their global reach, deep sector understanding, and long-term approach make them the ideal strategic partner as we continue to invest in our brands, expand into new markets and meet the evolving health needs of consumers.”

“Karo is a textbook example of EQT’s approach – scaling a local company into a fast-growing sector champion with international reach,” said Erika Henriksson, Partner in the EQT Private Equity advisory team. “Thanks to its consumer centricity, strong M&A track record, and proven brand growth playbooks, Karo is now primed to further expand on its leadership position. We’re proud of what Christoffer and the team have achieved and excited to hand over to a new owner for the next phase.”

Inaki Cobo, Partner at KKR, said: “Karo is a unique platform with high-quality brands, strong digital and commercial capabilities, and a proven strong leadership team. We are thrilled to invest in this European champion’s next phase of growth, drawing on our deep experience in the consumer health space to support continued expansion, innovation, and organic and inorganic growth.” Hans Arstad, Managing Director at KKR, added: “Karo operates in a resilient, growing sector supported by long-term demographic trends and increasing consumer focus on wellness and self-care. We engaged the full capabilities of our firm to deliver this transaction during a period of market disruption and we look forward to supporting Karo’s growth as a value-enhancing strategic partner.”

The transaction is subject to customary regulatory conditions and approvals and is expected to close in the coming months. EQT was advised by Jefferies, Morgan Stanley, PwC and White & Case. Citigroup acted as financial advisor to KKR.

Media Contacts
EQT Press Office, press@eqtpartners.com
KKR, Alastair Elwen, alastair.elwen@fgsglobal.com

About Karo Healthcare
Karo Healthcare is a leading European consumer healthcare company with the purpose of delivering “Smart choices for everyday healthcare”, empowering people to live life to the fullest. Our products are available in more than 90 countries and include trusted original brands such as Lamisil®, E45®, Pevaryl®, Proct®, AlphaFoods, Nutravita, Flux®, Locobase®, Multi-Gyn® and Paracet®. Headquartered in Stockholm, Karo employs about 470 people who work out of Karo’s 13 international hubs. More info: karohealthcare.com.

About EQT
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedInXYouTube and Instagram
 

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

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HealthEdge Secures Strategic Investment from Bain Capital

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BainCapital

BURLINGTON, Mass. – April 8, 2025 – HealthEdge, a leader in healthcare technology solutions, today announced that it has entered into a definitive agreement to be acquired by Bain Capital. The investment is being made by Bain Capital’s Private Equity team. Financial terms of the private purchase from funds managed by Blackstone were not disclosed.

Founded in 2005, and headquartered in Burlington, Massachusetts, HealthEdge is a next-generation SaaS platform that connects health plans, providers, and patients with a suite of end-to-end digital solutions to automate operations, reduce administrative costs and improve overall health outcomes. HealthEdge currently serves over 115 health plans representing more than 110 million covered member lives across the U.S. Its best-in-class solutions and administrative processing systems have earned the Company repeated recognition from leading market analysts.

“We are pleased to welcome Bain Capital as our new partner as we embark on our next chapter of growth and innovation,” said Steve Krupa, CEO of HealthEdge. “We believe we are well-positioned to achieve our vision of being the long-term partner of choice for health plans as we continue to create deeper integrations between our solutions, which support health plans through claims processing, care management, and member engagement. We are thankful for Blackstone’s support over the last five years and look forward to working with Bain Capital as we remain committed to implementing solutions that will redefine the future of healthcare.”

“HealthEdge is enabling health plans to transition towards a modern tech ecosystem via its cloud-based claims adjudication software and complementary suite of value-added solutions. In a world of growing operational complexity, we believe that HealthEdge can streamline operations, improve care delivery, and increase engagement among healthcare payers, provider, and patients,” said Devin O’Reilly and Paul Moskowitz, Partners at Bain Capital. “The HealthEdge Solutions Suite is a mission-critical system that sits at the heart of the health plan tech stack in one of the most complex HCIT ecosystems we’ve seen. We believe HealthEdge can be a driving force for GenAI enablement at health plans, and we look forward to partnering with the management in the next phase of growth.”

“We are proud to have been part of HealthEdge’s journey over the last five years, partnering with management to evolve the business from an emerging modern software solution for payors to a mission-critical platform of high-value technologies for payors, caregivers, and patients,” said Ram M. Jagannath and Anushka M. Sunder, Senior Managing Directors at Blackstone. “Over the course of our investment, Blackstone partnered with HealthEdge to innovate new solutions, acquire and integrate strategically important software solutions, drive sustained growth, and build a comprehensive technology platform to address challenges across the American healthcare ecosystem. It has been a pleasure driving this phase of the transformation, and we wish Steve, the entire management team, and Bain Capital continued success in driving HealthEdge’s next chapter of strategic growth.”

The transaction is expected to close during the second quarter of 2025, subject to customary closing conditions.

TripleTree is acting as lead financial advisor, Kirkland & Ellis as legal counsel, and Ares Management as lead financing partner to Bain Capital. Evercore and UBS Investment Bank are acting as financial advisors, and Simpson Thacher & Bartlett as legal counsel to Blackstone.
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About HealthEdge
HealthEdge® is building a future without limits for health plans, where they can deliver better service and care, make more informed decisions and streamline operations. Through an integrated platform of solutions for core administration (HealthRules® Payer), payment accuracy (HealthEdge Source™), provider network management (HealthEdge Provider Data Management), care management (GuidingCare®) and member experience (Wellframe™), health plans can converge their data and harness
automation to drive more informed decisions, improve touchless transaction processing and payment accuracy, foster meaningful collaboration and enhance service and care delivery. HealthEdge is trusted by over 115 health plans covering more than 110 million member lives across the U.S. See what it means to converge without limits at HealthEdge.com and follow us on LinkedIn.

About Bain Capital  
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

 

 Scott Lessne

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Office Ally Embarks on Next Phase of Growth and Innovation with New Mountain Capital and Francisco Partners

Franciso Partners

VANCOUVER, WA, NEW YORK & SAN FRANCISCO – April 7, 2025 — Office Ally (or “the Company”), a leading healthcare technology company providing a comprehensive suite of cloud-based clearinghouse and software solutions to a national network of healthcare providers, partners, and health plans, announced a strategic growth investment from New Mountain Capital, a leading growth-oriented investment firm with more than $55 billion in assets under management. As part of the transaction, Francisco Partners, which originally invested in Office Ally in 2021, will also reinvest alongside management.

This investment empowers Office Ally to accelerate its strong growth and product roadmap to become a preeminent next-generation clearinghouse and software provider. With expanded resources, Office Ally will drive greater efficiency, automation, and interoperability across the healthcare ecosystem. Trusted by more than 80,000 healthcare organizations, Office Ally enables the exchange of more than 950 million transactions annually between providers and payers to coordinate patient care and enable healthcare payments.

“We are thrilled to have the opportunity to work with both New Mountain Capital and Francisco Partners on this next chapter of growth for Office Ally,” said Chris Hart, CEO of Office Ally. “The team at Francisco Partners have been incredible enablers of our success over the past several years and the New Mountain Capital team’s investing acumen, strategic insights and operational knowledge across the healthcare technology space make them an ideal partner for us moving forward. On behalf of the entire Office Ally team, we are proud to support the critical work of healthcare providers and payers across the country—and we cannot wait to work with both of these great firms to further our mission.”

Matt Holt, Managing Director and President, Private Equity at New Mountain Capital said, “We are excited to partner with Chris Hart, Francisco Partners and the entire Office Ally team to build a next-generation healthcare technology platform company. We have tracked Office Ally’s innovation record over the past few years and believe that the company is exceptionally well-positioned to lead the modernization effort of payment in the U.S. healthcare systems. Office Ally can leverage its technology and data assets to enable what we see as a modern, real-time payment system, bringing together clinical and administrative processes into a model that’s aligned with an overall shift to outcomes-based payment models. At New Mountain, we have been investing in the modernization of the healthcare system and we plan to bring our ecosystem and network to the benefit of Office Ally. We are excited to support the company’s leadership position in helping to shift the U.S. healthcare systems from a broken system of antiquated processes to a modern, proactive and efficient system that’s better aligned with the health of patients.”

Justin Chen, Partner at Francisco Partners said, “It has been a pleasure and a privilege to partner with Chris and the Office Ally team to accelerate growth and expand the business over the past several years. The team has built an exceptional company with a unique culture, customer-first approach, innovative product roadmap and compelling product suite. We are excited to continue supporting Office Ally’s mission and next stage of growth with our new partners at New Mountain Capital.”

William Blair served as financial advisor and Kirkland & Ellis served as legal advisor to Office Ally and Francisco Partners. Houlihan Lokey served as financial advisor and Ropes & Gray LLP served as legal advisor to New Mountain Capital.

Financial terms of the transaction were not disclosed.

About Office Ally

Office Ally is a healthcare technology company that offers cloud-based solutions tailored for healthcare providers, partners, and payers. Our comprehensive platform is trusted by more than 80,000 healthcare organizations of all sizes from start-ups to the Fortune 100. The Company’s all-payer clearinghouse connects healthcare organizations to a nationwide network enabling the secure exchange of clinical and financial information. For more information visit: www.officeally.com.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with nearly $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit: www.newmountaincapital.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $50 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

Under no circumstances does the information contained herein constitute an offer to sell or a solicitation of an offer to buy any security or interest in an investment vehicle managed by New Mountain Capital or Francisco Partners. Any such offer or solicitation can only be made through a definitive private placement memorandum describing the terms and risks of an investment to sophisticated persons who meet certain qualifications under the federal securities laws and are capable of evaluating the merits and risks of the investment. Nothing presented herein is intended to constitute investment advice, and no investment decision should be made based on any information provided herein. It should not be assumed that an investment will be profitable or that the performance of any particular investment will equal its past performance. No guarantee of investment performance is being provided and no inference to the contrary should be made. There is a risk of loss from an investment in securities, including the potential loss of principal. Past performance is not indicative of future results.

Atsena Therapeutics Announces Oversubscribed $150 Million Series C Financing to Further Advance Ocular Gene Therapy Programs

BainCapital

  • inancing led by new investor Bain Capital with participation from new investor Wellington Management and all existing investors
  • Proceeds to support advancement of ATSN-201 through potential approval and launch as well as preclinical programs to treat inherited retinal diseases
  • Norbert Riedel, PhD, will join Atsena’s Board of Directors

DURHAM, NC, April 2, 2025 – Atsena Therapeutics (“Atsena” or “the Company”), a clinical-stage gene therapy company focused on bringing the life-changing power of genetic medicine to reverse or prevent blindness, today announced the successful close of an oversubscribed $150 million Series C financing. The financing was led by Bain Capital’s Life Sciences team, with participation from an additional new investor, Wellington Management. All the Company’s existing investors also participated in the round, including Lightstone Ventures, Sofinnova Investments, Abingworth, Foundation Fighting Blindness, Hatteras Venture Partners, Osage University Partners, and the Manning Family Foundation.

Proceeds from the financing will be used to advance Atsena’s lead program, ATSN-201, for the treatment of X-linked retinoschisis (XLRS), a genetic condition that is typically diagnosed in childhood and leads to blindness later in life. The proceeds will also support Atsena’s preclinical pipeline of first-in-class therapies and expand the use of Atsena’s novel spreading AAV.SPR capsid.

“Closing our Series C marks a pivotal moment for Atsena as we advance our transformative ocular gene therapies and fuel our next phase of growth, innovation, and clinical progress,” said Patrick Ritschel, Chief Executive Officer of Atsena Therapeutics. “It follows a productive 12 months of key achievements including securing a partner to advance ATSN-101 to a global pivotal trial for Leber Congenital Amaurosis type 1 (LCA1) and initiating Part B of the ATSN-201 LIGHTHOUSE study for XLRS. We’re grateful for the support of our investors and partners who share our vision for the future of leveraging genetic medicine to reverse or prevent blindness.”

To date, Atsena’s clinical portfolio has received multiple designations by the U.S. Food and Drug Administration (FDA). ATSN-101, for the treatment of LCA1, has received Rare Pediatric Disease designation, Orphan Drug Designation, and Regenerative Medicine Advanced Therapy designation. ATSN-201 has been granted Fast Track, Rare Pediatric Disease, and Orphan Drug Designations. Updated data from the ongoing LIGHTHOUSE Phase I/II clinical trial evaluating ATSN-201 is anticipated later this year.

“We believe Atsena has a unique opportunity to deliver meaningful impact for patients with inherited retinal diseases on the basis of novel science and impressive clinical data generated to date,” said Amir Zamani, a Partner at Bain Capital Life Sciences. “We look forward to supporting Patrick and his strong team as they look to unlock the next phase of Atsena’s growth and innovation while thoughtfully advancing potentially groundbreaking therapies toward patients in need.”

In conjunction with the financing, Norbert Riedel, PhD, a seasoned scientist and biopharmaceutical executive, will join Atsena’s Board of Directors.

Wedbush & Co. served as exclusive placement agent to Atsena for the Series C financing, Cooley LLP acted as its legal advisor.

About Atsena Therapeutics
Atsena Therapeutics (“Atsena”) is a clinical-stage gene therapy company developing best-in-class treatments for the reversal or prevention of blindness from inherited retinal diseases. The company’s lead program is evaluating ATSN-201 in an ongoing Phase I/II clinical trial for X-linked retinoschisis (XLRS), a genetic condition that is typically diagnosed in childhood and leads to blindness later in life. ATSN-101, Atsena’s first-in-class, investigational gene therapy for Leber congenital amaurosis type 1 (LCA1) has completed a Phase 1 / 2 trial with positive results (https://doi.org/10.1016/s0140-6736(24)01447-8). Atsena is advancing ATSN-101 toward the initiation of a global pivotal trial as part of its exclusive strategic collaboration with Nippon Shinyaku Co., Ltd. Atsena’s pipeline is powered by novel adeno-associated virus (AAV) technology tailored to overcome the hurdles presented by inherited retinal diseases. Founded by pioneers in ocular gene therapy, Atsena is led by an experienced team dedicated to addressing the needs of patients with vision loss. For more information, please visit https://atsenatx.com/.

 

 Scott Lessne

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