Fredericton-based connected care provider eChart Healthcare has raised $800,000 in a seed-stage financing. New Brunswick Innovation Foundation (NBIF) invested $200,000 in the round. The other investors were not disclosed. Founded in 2016 by CEO Amanda Betts, eChart Healthcare has created a digital patient charting system that helps long-term care homes simplify the charting process and provide staff and families with real-time data on a senior’s condition. The round's proceeds will support additional product development as well as sales and marketing activity.
3 min read · 17 June 2019
San Francisco-based health technology provider Collective Health has raised US$205 million in its latest financing. The round was led by SoftBank Vision Fund, with participation from several investors, including Canadian pension fund Public Sector Pension Investment Board (PSP Investments) and Canadian insurer Sun Life Financial. Founded in 2013, Collective Health provides a software platform that helps U.S. employers manage their health insurance programs. The company will use the funds raised to accelerate adoption of its platform and increase technology capabilities.
5 min read · 17 June 2019
Toronto-based financial technology company Borrowell has raised $20 million in a Series B financing. The round, which consists of equity and venture debt, was led by Canadian venture capital firms White Star Capital and Portag3 Ventures, according to a report by the Globe and Mail. Other investors included Clocktower Ventures, Argo Ventures, Silicon Valley Bank and Gaingels, a U.S. LGBT investment group. Founded in 2014 by CEO Andrew Graham and COO Eva Wong, Borrowell provides customers in Canada with a online platform for personal loans, financial recommendations and free credit monitoring services. The round's proceeds will be used for developing new products.
2 min read · 17 June 2019
Dialogue, a Montréal-based virtual healthcare platform, has secured $40 million in its latest financing. The round was led by Caisse de dépôt et placement du Québec and Holtzbrinck Ventures. They were joined by First Ascent Ventures, Portag3 Ventures, White Star Capital, Walter Capital Partners and National Bank of Canada, most of which invested in last year's $12 million Series A financing. Founded in 2016 by CEO Cherif Habib, COO Anna Chif and CTO Alexis Smirnov, Dialogue provides employers with direct access to front-line health-care professionals for their employees and families. The company will use the funds raised to consolidate its growth in Canada and continue expanding in Europe.
3 min read · 17 June 2019
Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras) has closed the sale of pipeline system Transportadora Associada de Gás SA (TAG) to a group led by Engie SA and Caisse de dépôt et placement du Québec (CDPQ), Reuters reported. According to a securities filing, Petrobras received a total of 33.5 billion reais (US$8.7 billion) from the buyers last week for the 90 percent stake it had in TAG, the report said. TAG owns about 4,500 kilometres (2,800 miles) of natural gas pipelines in northeast Brazil. In 2016, Brookfield Asset Management acquired Nova Transportadora do Sudeste (NTS) from Petrobras for US$5.2 billion.
1 min read · 17 June 2019
OMERS Private Equity (OPE) has agreed to sell its minority stake in National Veterinary Associates (NVA), an Agoura Hills, California-based owner and operator of more than 700 veterinary hospitals and related facilities. Terms weren't released. Ares Management, NVA's majority shareholder, is also selling its interest. The buyer is JAB Investors, a European consumer-focused private investment firm. OPE, the private equity arm of the $97-billion Ontario Municipal Employees Retirement System (OMERS), invested in NVA in 2017.
6 min read · 17 June 2019
Right Time Heating and Air Conditioning Canada has acquired Home Aire Care Heating and Cooling, a Kingston and Trenton, Ontario-based provider of residential heating, ventilation and air-conditioning (HVAC) and hot water services. No financial terms were disclosed. Based in St. Catharines, Ontario, Right Time is an HVAC contractor focused on the residential replacement market in Ontario and Manitoba. The company said Home Aire Care is its first acquisition since last November's investment by Clairvest Group, a Canadian mid-market private equity firm.
2 min read · 17 June 2019
OPTrust has made a minority investment in AmeriVet Veterinary Partners, a San Antonio, Texas-based veterinary clinic management business. Terms weren’t disclosed. AmeriVet is a portfolio company of Imperial Capital Group, a Canadian mid-market private equity firm. Imperial helped launch the company in 2016. AmeriVet acquires majority positions in U.S. veterinary practices and supports their operations.
3 min read · 14 June 2019
OPTrust has made a minority investment in AmeriVet Veterinary Partners, a San Antonio, Texas-based veterinary clinic management business. Terms weren't disclosed. AmeriVet is a portfolio company of Imperial Capital Group, a Canadian mid-market private equity firm. Imperial helped launch the company in 2016. AmeriVet acquires majority positions in U.S. veterinary practices and supports their operations. At present, it has interests in 33 practices in 15 states. The $20-billion OPTrust invests and manages Canada's OPSEU Pension Plan. Sandra Bosela, managing director and global head of private equity, said the investment will back further growth of the AmeriVet platform.
3 min read · 14 June 2019
A consortium of Sagard, Bpifrance and TowerBrook have acquired a majority interest in Sabena Technics, a Paris-based provider of aircraft maintenance and modification services in Europe. No financial terms were disclosed. The seller was France's TAT Group, which will remain a minority shareholder. TAT, which acquired Sabena Technics in 2005, said the new majority owners will provide the company with the resources needed to support its growth. Sagard is the French investment arm of Canadian management and holding company Power Corp.
2 min read · 14 June 2019
