Troy Medicare announces $10M Series B led by AXA Venture Partners

AXA

Funding accelerates the growth of Troy Medicare and its unique technology-enabled Medicare
Advantage plan designed to empower independent pharmacies and providers to care for
underserved communities in the US

November 17, 2020

Charlotte, NC. Troy Medicare, the pharmacy-powered, technology-driven Medicare Advantage
company, today announced it has raised a $10 million Series B round of funding led by AXA Venture
Partners, the global technology-focused venture capital firm. Sunwater Capital also participated in
the round.

With the support of investors, Troy will continue to expand its Medicare Advantage plan that provides
high-quality care and a superior patient experience to underserved communities via partnerships
with local, independent pharmacies and significant investment in technology.
“As the only Medicare Advantage company with deep relationships with independent pharmacies
and providers, we’re excited to bring AXA Venture Partners, with its understanding of healthcare
and technology, to the table as our first institutional investor,” said Flaviu Simihaian, CEO and Co-
Founder of Troy. “With this funding, we can continue to build out our model for a personal, hyperlocal
Medicare Advantage experience. Our partner pharmacists have a meaningful relationship with
their patients, and our plan leverages those touchpoints to improve the health of our members.”
“The Troy team is transforming care for Medicare Advantage beneficiaries, starting with North
Carolina,” said Manish Agarwal, General Partner at AXA Venture Partners. “Troy’s approach brings
a personalized, technology-enabled, local feel to care management and delivery for populations that
have been underserved by existing options in Medicare Advantage. We believe this model will
improve health outcomes and lower costs for these populations, and we’re excited to be a part of
the team.”

Troy Medicare launched in October 2018 with an innovative approach to Medicare Advantage that
leverages the local, independent pharmacy and technology to improve patient experience. With
100% transparent drug pricing, $0 generics at independent pharmacies, and no hidden fees for
pharmacies or providers, Troy offers a better Medicare Advantage plan for members and providers
alike. In 2021, Troy will expand its offering to dual-eligible Medicare beneficiaries and continue to
grow its team and expand its geographic footprint.

About Troy Medicare
Troy Medicare is a Medicare Advantage company based in Charlotte, North Carolina with a mission
to improve healthcare in each local community it serves. By empowering local providers and
pharmacies with world-class technology, Troy ensures that each member receives the best, tailored,
hyper-local care.

For more information on Troy Medicare, please visit http://www.troymedicare.com.

Contacts
Joey Shandley
press@troymedicare.com
704-275-8900 Ext. 111

About AXA Venture Partners (AVP)
AXA Venture Partners (AVP) is a global venture capital firm investing in high-growth, technologyenabled
companies. AVP has built, in less than five years, a unique investment platform specialized
in tech investments with $800 million of assets under management through three pillars of
investment expertise: early stage, growth stage, and fund of funds. To date, AVP has invested in
more than 45 companies and more than 20 funds. The AVP team operates globally with offices in
San Francisco, New York, London, Paris, and Hong Kong. Beyond investments, AVP provides
unique access to business development opportunities helping portfolio companies to scale globally
and accelerate their growth. More details here: www.axavp.com

Categories: News

Tags:

Centauri Health Solutions Adds Referral Management and Analytics Capabilities with Acquisition of Ivy Ventures, LLC

C

Deal continues year of Centauri’s growth in hospital revenue cycle optimization

Centauri Health Solutions (“Centauri”), an innovative healthcare technology and services company, announced today that it has acquired Ivy Ventures, LLC (“Ivy”), a Virginia-based healthcare growth solutions company focused on developing referral-driven service lines and improving care coordination. This addition expands Centauri’s comprehensive hospital solutions offerings, which already include Medicaid and Disability Eligibility and Enrollment, Out-of-State Medicaid Billing, and Revenue Cycle Analytics.

Founded in 2003, Ivy deploys an IP-enabled services model allowing major hospital networks to scale physician referral functions to grow referral driven service lines. Ivy utilizes a proprietary scheduling, analytics, and outreach platform to improve the experience and success rate of the referral process. Ivy’s data-driven process and insights deliver meaningful growth and improve user experience for their hospital and physician networks.

“Ivy is pleased to be joining a company with a similar foundation in leveraging technology and exceptional service to provide the best marketplace solutions,” said Roger Johnson, a founding partner of Ivy Ventures. “We look forward to offering Centauri’s unparalleled suite of revenue cycle optimization solutions to our long-term marquee clients to support their revenue growth in new ways.”

For Centauri, the addition of Ivy marks its fourth strategic acquisition in the hospital sector in less than 12 months. In December 2019, Centauri acquired Integrated Health Management Services, a Phoenix-based provider of revenue-cycle management services. Earlier this year, Centauri acquired HCFS, a Texas-based provider of self-pay management solutions, and AppRev, a Texas-based healthcare revenue cycle analytics company.

“Adding Ivy’s industry-leading referral management and analytics offerings to our growing portfolio expands the breadth and depth of our revenue cycle optimization solutions,” said Adam Miller, Centauri CEO and co-founder. “As we join forces with companies with complementary strengths, our goal is to provide our present and future health system clients with a full suite of services enabling them to streamline their vendor management processes and create efficiencies.”

The combined organization will be led by Miller, with Ivy’s founding partners, Johnson and Douglas Wetmore, and partners, Milan diPierro and Barrett Clark, joining Centauri’s management team.

The Ivy transaction was supported by Centauri’s lead investor, Abry Partners, and its other key investors, Silversmith Capital Partners and SV Health Investors. 7 Mile Advisors acted as the exclusive sellside advisor to Ivy. Weiss Brown LLP served as legal counsel to Centauri. Whiteford Taylor Preston was legal counsel to Ivy. Financial terms of the acquisition were not disclosed.

About Centauri Health Solutions

Centauri Health Solutions provides services to payors and providers across all healthcare programs, including Medicare, Medicaid, Commercial and Exchange. In partnership with our clients, we improve the lives and health outcomes of the members and patients we touch through compassionate outreach, sophisticated analytics, and data-driven solutions. Our services directly address complex problems such as uncompensated care within health systems; appropriate, risk-adjusted revenue for specialized sub-populations; and improve access to and quality of care measurement. Headquartered in Scottsdale, Ariz., Centauri Health Solutions employs 1,700 dedicated associates across the country. Centauri has ranked in the Top 500 on Inc. Magazine’s 2019 and 2020 Inc. 5000 lists of the fastest-growing private companies in the U.S. For more information, visit www.centaurihs.com.

About Abry Partners

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information on Abry, please visit www.abry.com.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmithcapital.com.

About SV Health Investors

SV Health Investors is a leading healthcare fund manager investing in tomorrow’s healthcare breakthroughs. SV invests across stages, geographic regions and sectors, with expertise spanning healthcare services / technology, medical products, biotechnology, dementia and public equities. With approximately $2.2B in assets under management and offices in Boston and London, SV has built an extensive network of investment professionals and experienced industry veterans. Since its founding in 1993, SV has invested in more than 175 companies, with more than 75 of these having achieved successful acquisitions or IPOs. For more information, please visit www.svhealthinvestors.com.

Contacts

Gretchen Adin | Director, Marketing & Communications

Gretchen.Adin@centaurihs.com | 480.418.3447

With new CEO on board, Germany’s Vibalogics lays out $150M for Boston viral vector site

With the race for COVID-19 vaccines heating up and the cell and gene therapy market booming, contract manufacturers in the viral vector space are quickly bulking up to meet demand. Hoping to ride that wave, Germany’s Vibalogics is planting its flag in the U.S. with a new leader in place.

Months after appointing a new global CEO, German contract manufacturer Vibalogics will shell out $150 million to build out a 110,000-square-foot “virotherapy” facility near Boston set to come online in the second half of 2021, the company said Wednesday.

The new facility will be built out over three years and eventually house 2,000 liters of bioreactor capacity, dedicated to producing clinical and commercial-stage oncolytic viruses and viral vectors used in vaccines and cell and gene therapies, Vibalogics said in a release. The work may include manufacturing for Johnson & Johnson’s COVID-19 vaccine candidate under a deal the partners inked in May.

The site will initially employ 100 workers and scale up to 250 over four years, Vibalogics said.

With that toehold in the U.S., Vibalogics hopes to build its global viral offerings under the leadership of managing director Stefan Beyer and CEO Tom Hochuli, who came over from Lonza Houston in September.

During his two-year stint at Lonza’s 300,000-square-foot facility in that city, Hochuli supervised a workforce expansion of around 400 employees and had a chance to get intimate with the cell and gene therapy space. In the early days in his new role at Vibalogics, Hochuli was tasked with overseeing the search for the new U.S. site.

Vibalogics also operates a clinical-stage manufacturing facility in Cuxhaven, Germany, the company said.

Vibalogics was the target of a buyout by private equity firm Ampersand Capital in May 2019 that Beyer said allowed the CDMO to focus more on its life sciences offerings after years of wallowing in a diversified business that had tentacles in the poultry and meat industries.

“Ampersand jumped on board and has realized the great potential we have developed during the last four to five years,” Beyer said. “It was really great that we have been able to continue with our strategy by convincing (them) to look into biologics.”

Vibalogics hopes to capture a bustling cell and gene therapy market on top of its work in COVID-19 vaccines. Manufacturing of those therapies is notoriously expensive and time-consuming, and some drugmakers in the field have outsourced that work to contract manufacturers to help meet demand.

Categories: News

Tags:

Drug discovery CRO MercachemSyncom adds biology services through acquisition

GIlde Healthcare

Utrecht (the Netherlands) – Gilde Healthcare portfolio company MercachemSyncom, the leading mid-sized European drug-discovery contract research organization, today announced that it has acquired Admescope Ltd., a provider of ADME-Tox services, based in Oulu (Finland) and Södertälje (Sweden). The acquisition of Admescope allows MercachemSyncom to significantly expand its service offering with tailor-made-in-vitro ADME-tox studies for pre-clinical and early clinical R&D projects. MercachemSyncom expects seamless integration with its existing medicinal, synthetic and development chemistry capabilities.

Admescope, founded in 2011, brings world-class expertise in drug metabolism, drug interactions, pharmacokinetics and quantitative bioanalysis. Its experienced scientific and management teams have executed ADME-Tox studies for pharma and biotech clients across the world.

Eelco Ebbers, CEO of MercachemSyncom, commented,

“We are pleased to welcome our new colleagues fom Admescope. The high quality, innovative and client-centric ADME-Tox services of Admescope represent a perfect, complimentary match with our organization. The addition of Admescope to MercachemSyncom marks an exciting year for our company. The expansion of our cGMP manufacturing apabilities via the acquisition of our Weert site at the beginning of the year has had an extremely positive effect on our business and client base, resulting in a record year in terms of medicinal and synthetic chemistry services.”

Rafael Natanek, Partner at Gilde Healthcare, commented,

“This is the third acquisition since our investment in MercachemSyncom, executing our active buy-and-build agenda to complement the strong organic growth of the company. Admescope adds specialized biology services to MercachemSyncom and enables integrated contract research services from hit-finding to Phase 2a. Combined with the acquisition of Alcami Weert last year, Admescope further solidifies MercachemSyncom’s position as the premier mid-sized drug discovery CRO in Europe.”

About MercachemSyncom

MercachemSyncom is the leading mid-sized European contract research organization offering innovative chemistry, medicinal chemistry, ADME-Tox, early drug substance development, and GMP production services to accelerate the drug discovery and development process in a flexible and cost-effective way. MercachemSyncom offers integrated drug-discovery services from hit to clinic. Working for many pharmaceutical and biotech companies throughout the world, MercachemSyncom is recognized for its high-quality products and services and its unprecedented problem-solving capabilities. For more information, visit the company’s website at www.mercachemsyncom.com.

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in health tech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com.

Categories: News

Tags:

Bridgepoint Growth to partner with Swedish medical dermatology group Diagnostiskt Centrum Hud

Bridgepoint

Diagnostiskt Centrum Hud (‘DCH’), the leading provider of medical dermatology services in Sweden, has partnered with Bridgepoint Growth to further support the company’s expansion.

Headquartered in Stockholm, DCH was founded in 2012 by its CEO and three dermatologists, combining their business and medical backgrounds to address the untapped demand for high quality medical dermatology treatments. The market is underpinned by structural growth drivers, including an aging population and an increase in the incidence of skin diseases such as skin cancer. s. DCH focuses on treating melanoma, psoriasis and other severe dermatology conditions.

Today DCH operates six clinics across four Swedish cities and is the clear market leader in Sweden. DCH is a high-quality platform well placed for future growth in the fragmented dermatology markets across Northern Europe.

“We are excited to partner with Bridgepoint in the next stage of our expansion and further build the best dermatology provider across the Nordics together with our colleagues,“ said Philip Jerlmyr, CEO DCH.

”We are very impressed by DCH’s successful expansion to-date creating the leading dermatology provider focused on clinical excellence and high customer satisfaction thanks to its having the best dermatologists. We look forward to supporting the DCH team in its next phase of expansion” added Ann Dahlman, partner at Bridgepoint Growth responsible for its investment activities in the Nordic region.

Advisors involved in the transaction were:

For Bridgepoint: Vinge (legal), KPMG (financial and tax), Roland Berger (commercial)

For management: AG Advokat (legal), GT (financial and tax)

Categories: News

Tags:

HealthComp Announces Partnership with New Mountain Capital

New Mountain Capital

Investment Firm to Support Leading Independent Third-Party Administrator’s Client Offerings and Growth 


FRESNO, Calif. and NEW YORK – November 9, 2020 – HealthComp Holding Company LLC (“HealthComp” or “the Company”), a leading independent Third Party Administrator (TPA) of healthcare benefits for self-funded employers, announced today that the Company has partnered with New Mountain Capital, a leading growth-oriented investment firm with $28 billion in assets under management.

Founded in 1994 and headquartered in Fresno, California, HealthComp is the largest independent Third-Party Administrator (TPA) of healthcare benefits in the U.S., serving more than 400,000 members in the self-funded employer industry. The Company offers best in class technology for healthcare benefits administration, payment integrity and care management services to address the “dual mandate” in the U.S. healthcare system: reducing costs and improving clinical outcomes and experience for employees. As part of the transaction, HealthComp’s CEO and management team will remain in place and invested in the company.

“HealthComp is dedicated to transforming benefits management into an experience that employees and employers love, and we are excited to partner with New Mountain Capital to recognize our full potential as a market leader,” said HealthComp CEO Jose Rivero. “We expect to benefit from the team’s deep sector knowledge, growth-oriented philosophy, and highly relevant industry relationships, to set the stage for our continued growth acceleration. We thank Alpine Investors for their fantastic partnership, and we look forward to continuing to build the HealthComp platform with the support and strategic guidance of New Mountain Capital.”

“HealthComp’s strong track record of cost containment and unwavering commitment to improving clinical outcomes for employee populations creates the opportunity to build a leading, scaled platform in an attractive, growing market with significant upside potential,” said Matt Holt, Managing Director and President, Private Equity at New Mountain Capital. “New Mountain Capital’s deep experience in healthcare cost containment will allow HealthComp to capitalize on an unparalleled opportunity to leverage institutional knowledge to drive business building and increase value for customers.”

Kyle Peterson, Managing Director at New Mountain Capital, said, “HealthComp’s scale, track-record, and market reputation make it the ideal platform for the development of a next generation TPA model. We see significant opportunity to leverage New Mountain’s capabilities in data and analytics to drive core platform competencies and a unique commercial strategy. Further investment in an already robust technology platform with the expansion of cost and clinical management capabilities will drive best-in-class cost containment and employee experience for self-funded employers and their employees.”

TripleTree LLC served as exclusive financial advisor and Wilson Sonsini served as legal counsel to HealthComp in the transaction. Ropes & Gray LLP provided legal counsel to New Mountain.


About HealthComp 

For more than 25 years, HealthComp has been dedicated to transforming benefits administration. Bringing together concierge-level service, operational excellence, powerful analytics and cost management, HealthComp has built a solution that integrates seamlessly with any benefits ecosystem. HealthComp has offices in California, Illinois, West Virginia and Pennsylvania. Visit healthcomp.com.


About New Mountain Capital 

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with $28 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 on New Mountain Capital, please visit www.newmountaincapital.com 


Press Release Contacts

HealthComp 

Joy Scott
Phone: 818.610.0270
joy@scottpublicrelations.com

New Mountain Capital 

Dana Gorman / Claire Walsh
Abernathy MacGregor
(212) 371-5999
dtg@abmac.com / cw@abmac.com

Categories: News

Tags:

Alpine’s HealthComp Announces Partnership With New Mountain Capital

Alpine

SAN FRANCISCO–(BUSINESS WIRE)–Alpine Investors (“Alpine”), a middle-market private equity firm that focuses on investing in people to build enduring companies, today announced that HealthComp Holding Company, LLC (“HealthComp”), a leading independent Third Party Administrator (TPA), is partnering with New Mountain Capital, a leading growth-oriented investment firm with $28 billion in assets under management. As part of the transaction, Alpine is exiting its investment in HealthComp.

Founded in 1994 and headquartered in Fresno, California, HealthComp is the largest independent Third-Party Administrator (TPA) of healthcare benefits in the U.S., serving more than 400,000 members in the self-funded employer industry. The Company offers best in class technology for healthcare benefits administration, payment integrity and care management services to address the “dual mandate” in the U.S. healthcare system: reducing costs and improving clinical outcomes and experience for employees. As part of the transaction, HealthComp’s CEO and management team will remain in place and invested in the company.

“Through our partnership with Alpine, HealthComp has been able to address the ‘dual mandate’ in U.S. healthcare of reducing costs and improving the member experience,” said Jose Rivero, CEO at HealthComp. “We thank Alpine Investors for their fantastic partnership, and we look forward to continuing to build the HealthComp platform with the support and strategic guidance of New Mountain Capital.”

“We are proud of what we have accomplished with HealthComp over the past four years. Jose’s people-driven leadership, innovation, and focus on operational excellence have created the leading independent TPA in the country. We’re excited to see HealthComp’s growth continue as a result of its partnership with New Mountain Capital,” said Will Adams, Partner at Alpine Investors.

TripleTree, LLC served as the exclusive financial advisor to HealthComp for the transaction and Wilson Sonsini Goodrich & Rosati served as legal counsel.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in middle-market companies in the software and services industries. Its PeopleFirst™ strategy includes a CEO-in-Residence program which allows Alpine to bring proven leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $1 billion seventh fund. For more information, visit http://www.alpineinvestors.com.

About HealthComp Holding Company, LLC

For more than 25 years, HealthComp has been dedicated to transforming benefits administration. Bringing together concierge-level service, operational excellence, powerful analytics and cost management, HealthComp has built a solution that integrates seamlessly with any benefits ecosystem. HealthComp has offices in California, Illinois, West Virginia and Pennsylvania. For more information, visit healthcomp.com.

Categories: News

Tags:

Huntsworth to Acquire Nucleus Global

Clayton Dubilier Rice

Establishes a Global Leader in Medical Communications

Friday, November 6, 2020
London and New York

Huntsworth, a Clayton, Dubilier & Rice portfolio company, has announced an agreement to acquire Nucleus Global from its founder, Stephen Cameron.

The combination will create a global leader in the fast growing medical communications space and further establish Huntsworth as a leading Pharma Commercialization platform, offering a suite of medical affairs, market access, and marketing services to large and mid-size pharmaceutical and biotech companies across the life cycle of drugs.

With a 30-year history of organic growth, Nucleus has become one of the largest privately owned medical communications groups with 14 offices around the world and more than 800 experts serving the biggest healthcare and medical assets in the world. Nucleus Founder and Chair, Stephen Cameron will join the main Board of Huntsworth and continue to lead Nucleus.

“This is a transformational milestone for two highly complementary businesses,” said Eric Rouzier, CD&R Partner. “We believe the combined businesses will offer a highly differentiated and complementary suite of high science solutions to support its clients in the pharmaceutical industry in developing and commercializing drugs globally. We are delighted that Stephen will remain with the business through the next phase of its growth.”

CD&R, which acquired Huntsworth in May, has a long track record investing in healthcare businesses globally. Huntsworth Chairman Liam FitzGerald, Operating Advisor to CD&R funds and former CEO of UDG Healthcare, will continue in the Chairman role for the new combined business upon close of the transaction, expected in December 2020.

About Nucleus
Nucleus Global is a medical communications group, which provides communications strategy, publications planning, expert and patient engagement, scientific events management, medical education, internal communications, training and clinical support for pharmacy and biotech companies.  Nucleus has its headquarters in London and operates dedicated, conflict-free teams across 14 offices and 800 employees in the US, Europe and Asia-Pacific. For more information, please visit www.nucleus-global.com/. 

About Huntsworth
Huntsworth is an international healthcare and communications group. The Group’s principal area of focus is Health, which provides medical affairs and marketing services to large and mid-size pharmaceutical and biotech companies. It also has a smaller Communications group, which provides a wide range of communications and advisory services including strategic communications, public affairs, investor relations and consumer marketing. Huntsworth is headquartered in London and operates 46 offices around 20 countries with approximately 2,000 employees. For more information, please visit www.huntsworth.com/.

About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on enhancing the value of portfolio businesses by supporting long-term growth, productivity, capital efficiency, and related strategic measures. Since inception, CD&R has managed the investment of more than $30 billion in 95 companies with an aggregate transaction value of more than $150 billion. The Firm has offices in New York and London. For more information, visit www.cdr-inc.com.

Categories: News

Tags:

Unified Women’s Healthcare Announces New Investment from Altas Partners

Altas Partners

November 5, 2020

Unified Women’s Healthcare Announces New Investment from Altas Partners and Ares Management to Accelerate Mission of Empowering Physicians to Transform Women’s Healthcare

Unified Women’s Healthcare (“Unified” or the “Company”), the leading practice management platform in women’s healthcare, today announced that it has entered into a definitive agreement to add Altas Partners (“Altas”) as a strategic partner. Altas, a long-term oriented investment firm, will become Unified’s largest investor, while Ares Management Corporation (“Ares”), in equal partnership with Altas, will continue to be a significant investor in the Company. As part of the transaction, private equity funds managed by Ares will make a significant new investment in the Company. The investments from Altas and Ares, alongside the physicians who are Unified’s partners, will enable the Company to expand the breadth of services it provides to its affiliated practices, provide capital for growth, and allow the Company to further invest in market-leading value-based care capabilities for providers and payers.

Founded in 2009, Unified’s mission is to empower physicians to positively impact and lead the effort to transform women’s healthcare for the benefit of their patients. Its strategic focus remains on the preservation of clinical autonomy and decision-making at the practice level, while advancing the impact of private practice through value-based care transformation. In addition to offering professional management expertise and innovative technology, Unified seeks to grow its affiliated practices through ancillary services and platform acquisitions. Today, Unified supports more than 1,800 providers in 12 states and the District of Columbia, who collectively care for more than 2 million women each year.

“We are thrilled to welcome Altas as our partner, and alongside Ares and our physician-owners, their collective investment is a testament to the strength of our affiliated practices and the national platform we have built,” said Bob LaGalia, President and Chief Executive Officer of Unified. “Altas and Ares both understand and support our core mission, which is to continue to support outstanding physicians as they improve women’s healthcare. This investment will allow Unified to continue to support our affiliated practices as they attract great physicians, provide best-in-class capabilities, and further our investments in value-based care.”

The transaction is expected to close in December 2020, subject to customary closing conditions and regulatory approvals.

About Unified Women’s Healthcare

Founded in 2009, Unified Women’s Healthcare is the largest Ob-Gyn physician practice management company supporting more than 1,800 providers across 12 states and the District of Columbia. Unified remains an indispensable source of business knowledge, innovation, and support to empower physicians to make the greatest impact on transforming women’s healthcare for their patients. For more information, visit www.unifiedwomenshealthcare.com.

About Altas Partners

Founded in 2012, Altas Partners is an investment firm with a long-term orientation focused on acquiring significant interests in high-quality, market-leading businesses in partnership with outstanding management teams. The firm manages approximately US$7 billion on behalf of endowments, foundations, family offices, public pension funds, and other institutional investors. The firm’s past and present portfolio companies include DuBois Chemicals, University of St. Augustine for Health Sciences, Tecta America, Hub International, PADI, Medforth Global Healthcare Education, Capital Vision Services (MyEyeDr.), and NSC Minerals. For more information, please visit www.altas.com.

About Ares Management Corporation

Ares Management Corporation is a leading global alternative investment manager operating integrated businesses across Credit, Private Equity, Real Estate and Strategic Initiatives. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had approximately $179 billion of assets under management as of September 30, 2020 with more than 1,400 employees operating across North America, Europe and Asia Pacific. For more information, please visit www.aresmgmt.com.

Categories: News

Tags:

Successful exit for Innovestor Ventures – Synoste gets acquired by Globus Medical

Innovestor

Innovestor Ventures exists Synoste, a Finnish startup that has developed high technology implants for minimally invasive bone lengthening treatment. In addition to InnovestorSynoste had received investment from High-Tech Gruenderfonds (HTGF), Evonik Venture Capital, Lifeline Ventures, AOL Foundation and angels. Globus Medical acquired Synoste in Q2/2020 for $23.5 million. 

Kickstarting the third generation Limb Lengthening system, Synoste’s unique implants lengthen the bone gradually over a period of months, offering improved outcomes and experiences for patients and surgeons alike.   

Synoste was founded by Harri Hallila, Antti Ritvanen and Juha Haaja, with a shared vision and the know-how needed to bring about third generation limb lengthening systems 

 “It has been a pleasure working and watching such a driven and ambitious team progress and grow throughout the ups and downs that startups faceSynoste has chosen a great partner in Globus Medical to continue their journey enabling them to take their technology to the next global level” commented Innovestor Venture’s Partner Petri Laine.  

Globus Medical is a leading medical device manufacturer based in Pennsylvania, USA that develops, manufactures, and distributes musculoskeletal device solutions.  

 

For more information  

Petri Laine

Partner, Innovestor Ventures

petri.laine(a)innovestor.fi

+358 400 909 447

Categories: News

Tags: