Tag Archives: healthcare

Star Vision partners with global private equity firm CVC

CVC Capital Partners

A Partnership Deal to Accelerate Global Expansion

Star Vision, the operator of Korea’s leading colour contact lens brand OLENS, has forged a strategic partnership with leading global private markets manager CVC.

This bilateral deal was recently signed, where the existing investors PS Alliance and Pearl Investment have agreed to sell their entire 49% stake in Star Vision to CVC. The transaction values the company in the upper KRW 600 billion range. PS Alliance and Pearl Investment had initially purchased their stake from VIG Partners in June 2022.

Star Vision has demonstrated consistent growth both in Korea and overseas. In Korea, the company prioritizes sustainable growth by providing robust support for its franchisees instead of merely increasing the number of stores. This approach has fostered strong and sustainable relationships with franchise owners over the past 14 years, a strategy that will continue to solidify the company’s leading position in Korea.

Star Vision has also maintained strong growth in the overseas markets, entering the Japanese market in late 2022 and OLENS quickly becoming one of the top selling brands. The company operates over 400 outlets across Asia, including approximately 20 locations each in Hong Kong and Taiwan.

Star Vision chose CVC as the most suitable partner to support the company’s continued growth, expansion in the global market, and evolution into a leading global K-beauty and K-contact lens brand.

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Gilde Healthcare company GT Medical Technologies raises $37 million in to advance GammaTile® for patients with operable brain tumors

January 17, 2025
Tempe, Arizona (United States)

GT Medical Technologies, Inc. (GT MedTech), a medical device company with a corporate purpose of improving the lives of patients with brain tumors, today announced the company has completed a $37 million first close of a Series D financing round.

The financing was led by Evidity Health Capital, alongside new investor Accelmed Partners. Also participating were existing investors Gilde Healthcare, MVM Partners, and Medtech Venture Partners. The funds will accelerate the completion of the ROADS clinical study that is focused on GammaTile for newly diagnosed brain metastases, and the GESTALT clinical trial for patients with newly diagnosed glioblastomas (GBMs). In addition, the funds will support the continued commercialization of GammaTile®, the Company’s FDA cleared bioresorbable radiotherapy implant for the treatment of brain tumors.

By delivering tile-based radiation therapy directly into the surgical cavity at the time of tumor removal, GammaTile provides immediate, localized treatment. This approach targets remaining cancer cells when they are at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.

About GT Medical Technologies, Inc.
GT MedTech was founded by a dedicated team of brain tumor specialists to address unmet needs in brain tumor treatment. The company is committed to improving the lives of patients with brain tumors through innovative solutions that elevate the standard of care.

About GammaTile®
Since its initial market release in the United States in January 2019, GammaTile has been adopted by more than 100 leading centers, underscoring its growing acceptance in both academic and community healthcare settings. For more information, visit gammatile.com and follow @GammaTile on Facebook, Instagram, LinkedIn and X.

About Gilde Healthcare
Gilde Healthcare is a transatlantic specialist investment firm managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.

 

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Bridges Consumer Healthcare Announces Acquisition of Category-Leading Consumer Health Brand KT Tape

Charlesbank

Chattanooga, TN, January 16, 2025 – Bridges Consumer Healthcare LLC (“Bridges” or the “Company”), a consumer healthcare platform made up of nine over-the-counter (“OTC”) and personal care brands, today announced the acquisition of KT® Tape (“KT”), the leading kinesiology tape brand designed to provide drug-free pain relief and support for muscles, tendons and ligaments. The strategic move diversifies and strengthens Bridges’ portfolio of specialty OTC brands, increasing the Company’s scale and positioning Bridges for accelerated organic growth and further add-on opportunities. Terms of the transaction were not disclosed.

Founded in 2008, KT Tape has been a pioneer in providing drug-free, innovative solutions to prevent and relieve pain and promote recovery. The company partnered with Palladin Consumer Retail Partners (“Palladin”) in 2014 and has earned high customer advocacy with products that appeal to all consumers from professional athletes to those seeking effective relief from everyday pain and soreness. KT is a category leader used by notable athletic organizations including the U.S. Olympic and Paralympic Teams. The addition of KT to Bridges represents the next phase of growth for the brand, with further investment in demand generation, product innovation and omnichannel distribution as part of the Bridges platform. KT is also the fourth acquisition completed since the inception of Bridges and opens the door for additional opportunities for accretive M&A.

“We are excited to join forces with KT Tape to advance our shared goal of delivering innovative over-the-counter healthcare solutions to improve our customers’ everyday health and quality of life,” said John Speranza, CEO at Bridges Consumer Healthcare. “KT’s innovative solutions enhance Bridges’ already-strong position in pain relief, alongside our current brands in the external pain category, ThermaCare and Absorbine Jr. As we begin executing on our vision for growth, we look forward to exploring partnerships with similar brands that can help us scale further.”

“Today’s announcement marks an exciting new chapter for KT, positioning us to reach more customers and continue to drive meaningful innovation through the added scale of the Bridges platform,” said Jessica Klodnicki, CEO at KT Tape. “We have been impressed by Bridges’ leadership and depth of expertise across several consumer health verticals, as well as the Company’s steadfast focus on its customers. We are thrilled to have found another collaborative strategic partner that shares a similar vision for the future of our business.”

Bridges was founded in 2020 by a team of industry executives and Charlesbank Capital Partners to build a market-leading consumer healthcare platform. Since its formation, Bridges has executed on this mission, acquiring nine brands focused on pain relief, women’s health and supplements, and accelerating double-digit growth through strategic marketing, innovation and a diverse range of sales channels, including e-commerce and B2B partnerships.

“Since its formation, Bridges has demonstrated a strong track record of growth, scaling both organically and through M&A, and we are thrilled to welcome another marquee brand like KT to the Bridges family,” said Jesse Ge, Principal at Charlesbank. “This marks an exciting milestone for the Bridges team, as they continue to build a leading consumer healthcare company.”

Mark Schwartz, CEO of Palladin, added, “It has been a pleasure working with the founders of KT, Jessica and the entire leadership team to build a leading consumer product company providing health and wellness solutions for athletes at all levels. We’re confident that Bridges will be a good platform for KT’s next stage of growth.”

Weil, Gotshal and Manges served as legal counsel to Bridges and Charlesbank. Palladin and KT were represented by Houlihan Lokey and advised by Latham & Watkins, RSM US and Andersen.

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Qventus Announces $105 Million Investment, Series D Led by KKR

KKR
  • The Company is a leading AI solutions provider across inpatient and outpatient operations, continuing to drive millions of dollars in ROI for health systems partners for over a decade
  • The investment supports development and expansion of first-to-market AI Operational Assistants, extending the platform even further across clinical operations

NEW YORK–(BUSINESS WIRE)–Qventus, a leading provider of AI-based care automation software for health systems, today announced a $105 million investment led by global investment firm KKR, with additional participation from world-renowned investment firm Bessemer Venture Partners, and new strategic investors, including leading health systems Northwestern Medicine, HonorHealth, and Allina Health.

Qventus has built an AI-first care operations automation platform deployed across leading health systems in inpatient and outpatient settings. This funding accelerates the Company’s ability to provide AI-based automations and AI operational assistants in more care settings, building upon the success of its existing offerings like Qventus’ Surgical Growth and Inpatient Capacity solutions as well as new solutions built on its first-to-market AI Operational Assistants platform capability.

Hospital executives, providers, and frontline staff are overburdened by manual, fragmented, and antiquated processes, which create challenges to achieving their mission of providing excellent care to patients in their communities. Despite having top-of-the-line therapies, clinicians and equipment, healthcare systems are hindered by inefficiencies related to administrative tasks like scheduling, higher costs, and more, which collectively cost the healthcare system billions of dollars every year. In turn, reducing staff burnout from administrative tasks and enhancing productivity have become mission-critical for health systems. Qventus’ transformative solutions and AI teammates help health systems combat these challenges by intelligently automating operations and end-to-end workflows across care settings.

“Across the country, healthcare teams have to do extraordinary things to get ordinary things done every single day. Qventus has dedicated the last decade to building AI automation solutions that alleviate the administrative burden of healthcare staff so they can deliver highly reliable patient care. This funding is a testament to how these solutions generate best-in-industry return on investment, helping health systems achieve the margins needed to fulfill their mission of delivering exceptional care to their communities,” said Mudit Garg, CEO and Co-Founder of Qventus. “This capital primes us to continue maximizing our growth, delivering on our promises to our partners, and launching new, game-changing technology.”

Qventus will leverage this funding to accelerate the development and commercialization of solutions powered by its AI Operational Assistants into new care settings beyond its Surgical Growth and Inpatient Capacity solutions. Enhancing team productivity by up to 50 percent, these AI teammates work alongside care teams to reduce the administrative burden, identify potential issues upstream, surface suggested interventions, and take action to solve problems for busy staff.

“Built on a solid foundation, Qventus has navigated the evolving care landscape and emerged resilient, thanks to its sophisticated technology and proprietary data engine built over the last decade,” said Jake Heller, Partner and Head of Tech Growth Equity, Americas at KKR. “We believe Qventus is well-positioned to be a market leader in supporting care delivery at the provider level and redefining the future of health care by supporting hospital systems in operating more efficiently so they can focus on what really matters–quality care for patients.”

Since its inception in 2012, Qventus has built a suite of AI solutions to address health system pain points across care settings. In the last year alone, Qventus’ Inpatient Capacity solution, which reduces the length of stay and creates capacity, eliminated over 36,000 excess days for its health system partners, saving them millions of dollars and helping them create the capacity to serve more patients in their communities. The company’s Surgical Growth solution drives strategic surgical volume for hospitals, generating $95M in annualized contribution margin in 2024 through Qventus enabled cases. This year alone, Qventus’ platform touched more than half a million surgeries and drove 35% more robotic cases using its technology to spot gaps of time available, helping patients receive the critical care they need.

“By collaborating with Qventus, Northwestern Medicine has been able to significantly address capacity and access demands for our operating rooms which has allowed our patients quicker access to care,” said Doug King, Senior Vice President and Chief Information Officer, Northwestern Medicine. “By deploying Qventus’ solutions, Northwestern Medicine is able to reduce the burden on our clinical teams and allow them to turn their focus to caring for our patients.”

This financing follows a year of significant growth for Qventus, increasing its cadre of health system partners and expanding its team globally. The company received an impressive overall KLAS score of 92.5 percent (as of November 1, 2024) in the capacity management segment, in which 100 percent of customers included Qventus as a part of their long-term plans. Last month, Qventus additionally took home Frost & Sullivan’s Best Practices Customer Value Leadership Award for its commitment to providing best-in-class solutions that generate an average of over 10x return on investment for its hospital and health system clients.

KKR is funding this investment primarily from its Next Generation Technology III Fund.

Wilson Sonsini Goodrich & Rosati, P.C. served as legal advisor to Qventus, Latham & Watkins LLP served as legal advisor to KKR and Wilson Sonsini Goodrich & Rosati served as legal advisor to Bessemer Venture Partners.

About Qventus

For more than a decade, Qventus has been at the forefront as a provider of AI-based software automating care operations in both OR and inpatient settings. By deeply understanding the challenges faced by healthcare providers and applying modern technologies and principles proven in other industries, we empower care teams to make smarter decisions and optimize patient flow, while reducing the cognitive load on team members and improving the patient experience. Our solutions not only deliver meaningful returns but have also recently achieved the highest KLAS rating, creating a competitive edge for our clients, including health systems, independent hospitals, and academic medical centers. By integrating with EHRs, the Qventus platform leverages GenerativeAI, machine learning, and behavioral science to predict operational bottlenecks, recommend remedies, and automate processes. Explore more at www.qventus.com.

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.

Contacts

Qventus
qventus@solcomms.co

KKR
Emily Cummings
media@kkr.com

 

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TA Announces Completion of Tender Offer for Nexus AG

TA associates

BOSTON and LONDON – TA Associates (“TA” or the “Firm”), a leading global private equity firm, announced today that its holding company, Project Neptune BidCo GmbH, successfully completed its tender offer (the “Offer”) to acquire all outstanding ordinary shares and stock acquisition rights of Nexus AG (“Nexus”), a leading European software company in the e-health sector. This transaction, undertaken in partnership with the Management Board of Nexus, marks a significant milestone in Nexus’s journey, positioning the Company for continued growth and innovation away from a stock market environment.

The Offer, which commenced on November 11, 2024, for 70.00 Euro in cash per share, was completed as scheduled on January 3, 2025, at the end of the additional acceptance period. At the time of completion, the Offer was accepted for 16,402,668 Nexus shares, representing approximately 94.95% of all Nexus shares, including 26.9% which TA secured through irrevocable undertakings with key Nexus shareholders. All of such shares have been accepted for payment in accordance with the terms of the Offer, and TA expects to promptly pay for such shares.

Settlement of the Offer remains subject to customary regulatory conditions, including antitrust and foreign investment control clearances. Subject to the fulfillment of these conditions, settlement of the Offer is expected in Q1 2025, at which point TA intends to delist Nexus from the Frankfurt Stock Exchange, increasing its operational flexibility to focus on long-term growth initiatives.

“TA has followed Nexus’s growth trajectory for many years and admired its leadership in the European e-health market,” said Stefan Dandl, Director at TA. “With its modern technology platform, expansive product portfolio and unwavering focus on customer satisfaction, we believe Nexus is well positioned to capitalize on the growing demand for digital healthcare solutions.”

By taking Nexus private, TA aims to empower the Company to further strengthen its customer offerings, pursue strategic acquisitions and invest significantly in research and development, particularly in areas such as cloud computing and AI-driven solutions.

“We’re excited to partner with Ingo and the exceptional Nexus team to further advance healthcare software solutions that empower healthcare providers and improve patient outcomes,” added Birker Bahnsen, Managing Director at TA.

“Nexus has consistently delivered double-digit growth and strong financial performance,” said Dr. Ingo Behrendt, CEO of Nexus AG. “We believe our strategic partnership with TA will accelerate our ability to develop cutting-edge solutions that enhance the efficiency and quality of care for our customers. With access to significant new resources and greater flexibility to leverage industry tailwinds, we will continue driving value for healthcare providers who trust our platforms to power their digital transformation.”

“After careful consideration, The Supervisory Board and Management Board of Nexus AG unanimously concluded that this strategic partnership represents the best path forward for Nexus, its shareholders and customers,” shared Dr. Hans-Joachim König, Chairman of the Supervisory Board of Nexus AG. “We believe it creates immediate value for Nexus and are excited by the opportunities ahead.”

About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.

About Nexus AG
Nexus AG develops and distributes software solutions for the international healthcare market. With the clinical information system (Nexus / KIS) and the integrated diagnostic modules, we now have a uniquely broad and interoperable product range that can cover almost all functional requirements of hospitals, psychiatric clinics, rehabilitation and diagnostic centers within our own product families. Nexus AG employs around 2,030 people, owns sites in nine European countries and supports customers in further 71 countries, in some cases via certified dealers. Due to the continuously growing demand for Nexus products, we have been able to build up a large customer base in recent years and regularly achieve increasing sales and results. Further information on Nexus AG can be found at www.nexus-ehealth.com.

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Pediatrics Plus Partners with Leavitt Equity Partners for Next Phase of Growth

Fulcrum

Leavitt Equity Partners and Fulcrum Equity Partners Partner to Advance Pediatrics Plus’s Mission of Empowering Children and Families Through Specialized Care

CONWAY, Ark.–(BUSINESS WIRE)–Leavitt Equity Partners—a healthcare-focused private equity fund founded by former U.S. Secretary of Health and Human Services, Mike Leavitt—is proud to announce its partnership with Pediatrics Plus, a leading pediatric therapy provider based in Conway, Arkansas. In collaboration with Leavitt Equity Partners, Fulcrum Equity Partners—an operations-driven growth equity fund specializing in healthcare and B2B technology—and Western Governors University—an additional strategic partner—join the investor group to support Pediatrics Plus’s continued growth and mission.

“Pediatrics Plus has a remarkable track record of providing exceptional care and achieving outstanding outcomes for children and their families”

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Pediatrics Plus offers a range of services including physical therapy, occupational therapy, speech and language pathology, and applied behavior analysis (ABA) therapy. Pediatrics Plus has grown to now providing specialized healthcare services to more than 6,000 children with special needs and developmental delays each year.

“This partnership represents an exciting milestone in our journey,” said Scott Street, CEO of Pediatrics Plus. “Our mission has always been to provide exceptional care for children with developmental needs, and with the expertise and support of Leavitt Equity Partners and Fulcrum Equity Partners, we are well-positioned to expand into new markets and enhance our service offerings for the families we serve.”

The incumbent management team has established a robust operational foundation and an innovative service delivery model, positioning Pediatrics Plus for efficient scaling. With the combined healthcare and operational expertise of Leavitt Equity Partners, Fulcrum Equity Partners, and Western Governors University (including its investment arm, Juvo Ventures), Pediatrics Plus is well-equipped to embark on its next phase of growth, expand its impact on children and families, and address the critical supply shortage in the pediatric therapy industry.

“Pediatrics Plus has a remarkable track record of providing exceptional care and achieving outstanding outcomes for children and their families,” said Andrew Clark, Managing Partner at Leavitt Equity Partners. “We are honored to partner with their team and help them scale their mission to reach even more children and families in need.”

“Pediatrics Plus embodies the entrepreneurial spirit and commitment to excellence that we seek in our partners,” added Chad Hooker, Principal at Fulcrum Equity Partners. “We are excited to collaborate and build on their success, helping them unlock new opportunities for growth and innovation.”

Pediatrics Plus founders, Todd and Amy Denton, will continue forward as the largest shareholders of Pediatrics Plus and will both continue to serve on the Board of Directors. “We are delighted to partner with Leavitt Equity Partners and Fulcrum Equity Partners to continue to advance the mission of high-quality pediatric therapy within current and new markets,” said Amy Denton. “We believe this new partnership will accelerate the Company’s growth and opportunities to serve more families and we are excited for this next chapter for Pediatrics Plus.”

Stephens Inc. acted as exclusive financial advisor and Bass Berry & Sims PLC acted as legal advisor to Pediatrics Plus.

Dorsey & Whitney LLP acted as legal advisor to Leavitt Equity Partners.

McDermott Will & Emery acted as legal advisor to Fulcrum Equity Partners.

About Pediatrics Plus

Pediatrics Plus is a specialized pediatric healthcare provider that utilizes a unique and innovative blended service model designed to deliver the best outcomes for children. Operating with a progressive mindset, the organization consistently seeks and discovers more effective ways to achieve greater results for its clients. With growing experience, Pediatrics Plus has continually challenged itself to think outside the box, adding diverse services and delivery models to overcome obstacles that might prevent children from accessing or benefiting from the care they need. Learn more at https://www.pediatricsplus.com/

About Leavitt Equity Partners

Leavitt Equity Partners is a value-add, healthcare focused private equity firm. Founded in 2014 by Michael Leavitt, former United States Secretary of the Department of Health and Human Services, LEP leverages the healthcare intelligence and broad network of its Principals to help portfolio companies thrive in a complex and ever-changing healthcare system.

LEP manages over $400 million in capital, raised primarily from strategic healthcare partners including healthcare provider systems, national and regional health insurers, healthcare service providers, healthcare IT companies, pharmaceutical companies, and healthcare executives and entrepreneurs. Learn more at http://www.leavittequity.com.

About Fulcrum Equity Partners

Fulcrum Equity Partners is an Atlanta-based growth equity firm that gives entrepreneurs the capital and hands-on support they need to take their companies further, faster. Fulcrum invests in healthcare services and B2B tech executives searching for $5 million to $30 million of equity in minority and majority growth opportunities. Fulcrum’s partners believe in building businesses the right way, meeting teams where they are, and helping them imagine a bigger and brighter future by building the right systems, processes, teams, and culture. All of that starts with the right experience, the right support, and the right relationship. Learn more at http://www.fulcrumep.com.

About Western Governors University

Western Governors University (WGU) is a nonprofit, online university driven by a mission to expand access to education and opportunity. Founded by a bipartisan group of U.S. governors in 1997, WGU is committed to reinventing higher education by putting students at the center of learning. Through its competency-based approach, WGU enables students to progress at their own pace, measuring success through mastery of skills rather than time spent in class. With a focus on affordability, flexibility, and workforce relevance, WGU serves over 150,000 students across the nation and has awarded more than 400,000 degrees in fields such as healthcare, business, education, and IT. Learn more at www.wgu.edu.

Contacts

Media Contact:
Stormy Goeckeritz
Leavitt Equity Partners
801-879-2340
Stormy.Goeckeritz@leavittequity.com

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Suvoda and Greenphire to Merge Creating a Technology Platform Optimizing Clinical Trial Processes and Streamlining the Patient Journey

BainCapital

CONSHOHOCKEN, PA and KING OF PRUSSIA, PA – January 13, 2025 – 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, have agreed to merge. The merger will unite two complementary clinical trial technology leaders with a shared passion and proven history of creating a more seamless clinical trial experience for patients, sites, and sponsors.

Bringing together Suvoda’s and Greenphire’s trusted, market-leading offerings will create a powerful end-to-end platform to support the patient journey in clinical trials and help bring medicines to those who need them most. Further, the comprehensive product portfolio will deliver patient-centric solutions, including randomization and trial supply management, eConsent, eCOA, patient and grant payments, study budgeting, and travel and logistics all within a unified digital experience. The merger will enhance patient access and engagement in clinical trials, simplify site access to essential technologies, and position pharma and contract research organization (CRO) partners to more easily achieve their clinical trial objectives.

Jagath Wanninayake, Suvoda’s founder and CEO, will serve as Chief Executive Officer for the combined company following closing which is expected in Q2 2025 following the receipt of required regulatory approvals. Greenphire CEO Jim Murphy will continue to lead Greenphire through closing and will serve as an advisor to the company throughout 2025 ensuring a smooth transition. The leadership team will consist of individuals from both companies. Thoma Bravo, a leading software investment firm, will be the lead strategic investor in the combined company, and Bain Capital Tech Opportunities will make a significant minority investment into the combined company upon the closing of the transaction.

William Blair LLC is serving as financial advisor and Morgan Lewis is serving as legal advisor for Suvoda. J.P. Morgan Securities LLC is serving as financial advisor and Goodwin Procter is serving as legal advisor to Greenphire.

Supporting Quotes:
“Suvoda and Greenphire are both mission-driven businesses, focused on easing sponsor, site, and patient burden in clinical trials. Combined, we’ll continue to deliver with the same excellence and service our customers expect, while accelerating the pace of product innovation in the most urgent moments of the most urgent trials. I am excited for Suvoda and Greenphire to join forces – we each serve a great portion of the patient journey and have a shared mission to transform patients’ and sites’ experiences within clinical trials. Now, we’ll do it together.” – Jagath Wanninayake, Chief Executive Officer, Suvoda

“The transaction marks the beginning of an incredible new journey for Greenphire, our customers, partners and employees. The merger will enable us to even better serve all clinical trial stakeholders as we work with our new colleagues to redefine the site and patient experience.  By putting these two industry leaders together, our organization will be able to offer you the unprecedented ability to partner with one singular solution provider – from eConsent, randomization, and eCOA to budgets, payments, travel, and mobile access.” – Jim Murphy, CEO, Greenphire

“The combination of Suvoda and Greenphire, two leaders in clinical trial technology, will create a new company with significant scale, a unique set of complementary product offerings, and a highly skilled management team with an impressive track record of success and history of high growth. We look forward to supporting the go-forward company’s next phase of growth.” – Hudson Smith, Partner, Thoma Bravo

“Clinical trials are increasingly complex and pharmaceutical companies are turning to trusted technology partners like Suvoda and Greenphire to serve mission-critical roles throughout the trial. We are thrilled that these two complementary industry leaders are coming together to simplify the clinical trial workflow and provide a more seamless user experience for patients, sites, and sponsors.” – Peter Hernandez, Senior Vice President, Thoma Bravo

“We are excited to back the combination of Suvoda and Greenphire. Both businesses stand out in terms of best-in-class customer feedback, which stems from their modern, easy to use products and relentless focus on customer and patient outcomes. Together, the combined business will be able to invest in the most innovative platform for clinical trial operations, resulting in continued success for all participants in the clinical trial ecosystem.” – Michael Grandfield, Managing Director, Bain Capital Tech Opportunities.

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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 1,500 trials across 85 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.

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Novo Holdings co-leads €32 million Series A for Coave Therapeutics to advance pipeline of next-generation genetic medicines

Novo Holdings

Coave Therapeutics (‘Coave’), a biotechnology company focused on developing genetic medicines, today announced its €32 million ($33 million) Series A financing. The financing was co-led by Novo Holdings A/S and Bpifrance, with participation from Invus and UI Investissement, alongside existing investors Seroba Life Sciences, Fund+, Kurma Partners, Omnes Capital and Turenne Capital.

The financing will enable Coave to advance its proprietary ALIGATER™ (Advanced Vectors-Ligand Conjugates) platform, a breakthrough technology addressing key limitations in the delivery of genetic payloads to extra-hepatic tissues, including limited tissue specificity, delivery efficiency and safety.

ALIGATER™ enables conjugation of targeting ligands, such as small molecules, peptides, or antibody fragments, on AAV or non-viral vectors, offering superior delivery efficiency, tissue specificity and safety profile for a broad range of diseases.

The platform streamlines the manufacturing process by avoiding prior AAV capsid modifications. These capabilities could enable Coave to develop best-in-class genetic medicines designed for specific indications.

Further, the funding enables Coave to advance its lead pre-clinical assets towards clinical development, with a primary focus on the central nervous system (CNS), neuromuscular and eye diseases. Coave plans to advance two development candidates to CTA/IND-enabling studies in 2026.

“We are delighted to welcome this group of top-tier investors who share our vision for the ALIGATER™ platform. This funding is a critical milestone for Coave as we work to develop a new generation of targeted, safer, and more efficacious genetic medicines,” said Rodolphe Clerval, CEO of Coave. “It also reinforces our ability to expand collaborations with pharma and biotech partners, driving innovation in the field of genetic medicines for a broad range of diseases.”

Emmanuelle Coutanceau, Partner at Seed Investments, Novo Holdings, commented: “Coave’s unique technology platform, strong proof-of-concept data, and experienced team, position it at the forefront in the development of new generations of genetic medicines. Further, we are pleased to see Coave leveraging the strength of the Novo Holdings life science network by acquiring one of our early-stage companies operating in stealth mode. We are excited to announce this significant step in expanding Coave’s global footprint, with Denmark serving as a stepping stone in its international growth.”

“Coave, with its ALIGATER™ platform for creating a new class of targeted genetic medicines, has the potential to deliver groundbreaking new treatments to patients in need,” said Jean-François Morin, Investment Director at Bpifrance – InnoBio Funds. “With this Series A financing and a top-tier team, Coave will be able to progress its pipeline of internal programs.”

In connection to the financing, Emmanuelle Coutanceau and Jean Francois Morin will join Coave’s Board of Directors.

About Coave Therapeutics
Coave Therapeutics is a genetic medicine company pioneering the development of innovative solutions to enhance the precision, safety, efficacy and manufacturability of genetic medicines. With its proprietary ALIGATER™ platform, Coave is at the forefront of addressing challenges in gene therapy delivery to extra-hepatic tissues, creating a robust pipeline targeting CNS, neuromuscular and eye diseases.

Headquartered in Paris, France, Coave Therapeutics is backed by leading international life sciences investors. For more information about the science, pipeline, and people, please visit coavetx.com and follow us on LinkedIn.

About Bpifrance and InnoBio funds
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurance. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export). InnoBio funds are investment funds dedicated to the life sciences, managed by Bpifrance, which is also one of the LPs alongside pharmaceutical companies and institutional investors. These funds aim to invest in companies developing innovative products, close to or in early clinical development, with the objective of bringing them to clinical proof of concept. InnoBio funds take minority equity stake in companies and can lead or co-lead the investment rounds. For more information, please visit: www.bpifrance.com

Further information

Novo Holdings
Marie-Louise Jersin, Senior Lead, Public Relations
maj@novo.dk

 

Coave Therapeutics 
Rodolphe Clerval, CEO
contact@coavetx.com

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FIRE1 Secures $120 Million Financing to Revolutionize Heart Failure Care

GIMV

FDA awards Breakthrough Device Designation to Fire1’s Norm™ system

DUBLIN – Strictly embargoed to 08.00 hours GMT/Dublin time Jan. 7, 2025

FIRE1, a leading connected medical device solutions company, today announced the successful completion of a $120 million financing round to accelerate the company’s mission to transform the lives of millions of people living with heart failure.

FIRE1’s Norm™ heart failure management system offers a groundbreaking approach for patients to manage heart failure. By enabling patients to engage in physician directed self-management, Norm reduces the burden on healthcare staff, making it easier to keep patients healthier and at home. The funding will enable the company to complete a pivotal clinical trial of the Norm™ system.

The round was led by Polaris Partners and Elevage Medical Technologies, joined by new investors Sands Capital and Longitude Capital, and existing investors Andera Partners, Gilde Healthcare, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, NEA (New Enterprise Associates), Novo Holdings, and Seventure Partners.

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Mashura Announces $300M Strategic Partnership with Warburg Pincus

Warburg Pincus logo

Partnership to fuel growth, innovation and expand client reach in veterinary and dental markets

January 7th, 2025 — Scottsdale, AZ – Mashura, a leading inventory intelligence platform in healthcare, today announced a $300 million strategic partnership with a newly formed financing vehicle sponsored by Warburg Pincus, the pioneer of private equity growth investing. Mashura will focus on expanding its customer base across the U.S. and globally, innovating key solutions and increasing integration partnerships.

Mashura, a global leader in inventory intelligence solutions, provides cutting-edge smart cabinet technology to veterinary and dental clinics, which drives hard dollar cost savings by streamlining operations, improving inventory management and ensuring seamless compliance with DEA and state regulatory audits. Operating through two specialized brands, CUBEX, serving the veterinary industry, and Zimbis, catering to the dental sector, Mashura delivers tailored solutions designed to meet the unique needs of each market. The company’s software platform offers real-time reporting and intuitive analytics, empowering customers to prioritize operational demands and optimize inventory supply. By reducing medication costs and improving efficiency, Mashura supports clinics in driving positive EBITDA. With installations in over 16 countries worldwide, Mashura’s solutions are transforming how healthcare providers manage their inventory and improve patient outcomes.

“One of my core focuses is to foster a culture at Mashura that emphasizes serving one another, developing innovative solutions, and creating programs that enhance healthcare for both people and their pets. Through our best-in-class solutions, we help healthcare companies maximize profitability, control inventory, and optimize workflow efficiencies, thereby increasing safety and mitigating risk,” said Anton Visser, CEO, Mashura. “This partnership unlocks an exciting new opportunity for Mashura, allowing us to innovate, expand and drive continued success. The support from Warburg Pincus is invaluable and we look forward to leveraging their decades-long experience in healthcare and financing strategies.”

“Mashura is a valued part of the vet and dental markets with their innovative storage cabinets, helping clients with increased billing capture, reduced inventory, consolidated analytics, automated suggested ordering and regulatory audits – all important services for healthcare providers,” said José Arredondo, Principal, Warburg Pincus. “We are excited to partner with Anton and the CUBEX and Zimbis teams on this next phase of growth, expanding the reach and services for the company to benefit customers as the demand for automation solutions continues to accelerate,” added Jordan Jones, Principal, Warburg Pincus.

The equity for the transaction is being provided by Warburg Pincus Capital Solutions Founders Fund (“WPCS FF”), which closed in September 2024 with over $4 billion in commitments. Mitsubishi Corporation remains a strategic partner to Mashura.

About Mashura

Mashura is a leading provider of innovative health care automation and cloud-based business intelligence solutions that enable veterinary and dental facilities to improve medication care, cost and patient outcomes, while at the same time increasing regulatory compliance. Mashura is headquartered in Scottsdale, Arizona, home to its corporate office and distribution center. More information can be found at www.mashura.com.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

Warburg Pincus funds have invested over $18 billion in more than 180 innovative healthcare companies around the world, including Summit Health/CityMD, Modernizing Medicine, Ensemble Healthcare Partners, and Bausch + Lomb. The firm also has a successful track record of investing in capital solutions related transactions historically. The Warburg Pincus Capital Solutions Founders Fund consists of investments that include DriveCentric, Excelitas, MB2, MIAX, Nord Security, Service Compression, and United Trust Bank.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.

Contact

Warburg Pincus

Sarah Bloom, Associate Director, Communications

Sarah.bloom@warburgpincus.com

Mashura

Neels Visser, Director of Marketing

nvisser@mashura.com

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