I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Frazier Healthcare Partners said Tuesday that its growth buyout fund closed at its $525 million hard cap. Frazier Healthcare Growth Buyout Fund VIII LP is the firm’s first vehicle focused exclusively on profitable healthcare companies in the lower middle market. The fund will invest in buyouts, recapitalizations or corporate carve-outs of companies with between $5 million and $40 million of EBITDA. Frazier Healthcare also said it closed an early stage therapeutics focused fund with $262 million in capital commitments.
3 min read · 23 March 2016
SK Capital Partners has completed the sale of IBA Molecular to CapVest Partners LP. Financial terms weren’t announced. IBA Molecular was jointly owned by SK Capital and Ion Beam Applications S.A. prior to the sale. Rothschild Inc served as exclusive financial advisor and Morgan, Lewis & Bockius LLP served as legal counsel to SK Capital.
2 min read · 23 March 2016
Ancor Capital Partners has recapitalized Healthcare Billing Systems Inc d/b/a DuvaSawko. Financial terms weren’t announced. Ormond Beach, Florida-based DuvaSawko provides emergency billing, coding, accounts receivable management, and data analytics services. Jim Moskal, of Livingstone, advised DuvaSawko.
2 min read · 23 March 2016
Bivarus said Tuesday it raised $2 million in a round of funding co-led by Hatteras Venture Partners and existing investor Excelerate Health Ventures. Also participating were NueCura Partners and Boston Millennia Partners. Durham, North Carolina-based Bivarus is an analytics company.
3 min read · 23 March 2016
GI Partners said Tuesday it agreed to buy Netsmart Technologies Inc. Genstar Capital is the seller. Financial terms weren’t announced. Allscripts Healthcare Solutions Inc is partnering in the deal and will merge its homecare software business unit with Netsmart. Overland Park, Kansas-based Netsmart provides software and technology solutions designed especially for the health and human services sector. UBS Investment Bank is providing financing. Houlihan Lokey and UBS Investment Bank acted as financial advisors.
3 min read · 23 March 2016
Aerin Medical Inc has closed a $16.7 million Series C financing round. The initial closing of $6.1 million was led by the Targeted Technology Fund while the second closing of $10.6 million was led by the KCK Group. Aerin Medical, of Sunnyvale, California, is a medical device company.
2 min read · 23 March 2016
BetterWorks said Tuesday it closed a $20 million Series B round led by Emergence Capital. Kleiner Perkins Caufield & Byers, 8VC and all existing shareholders are also participating. Redwood City, California-based BetterWorks provides enterprise software to manage strategic plans, collaborative goals and ongoing performance conversations.
2 min read · 23 March 2016
LakePharma Inc has acquired Blue Sky BioServices. Financial terms weren’t announced. Worcester, Massachusetts-based Blue Sky is a CRO specializing in protein and antibody production and assay service. Blue Sky is backed by Ampersand Capital Partners, which has invested in Lake Pharma as part of the deal.
2 min read · 23 March 2016
DNA Diagnostics Center said Monday it has acquired All About Truth DNA Services. Financial terms weren’t announced. Plantation, Florida-based All About Truth DNA provides provides DNA testing services to the South Florida region. DNA Diagnostics Center is backed by GHO Capital.
3 min read · 23 March 2016
Bridge Bank said Monday it provided a $14 million loan to TaskUs. Santa Monica, California-based TaskUs provides outsourced support, including call center operations and back office support, to companies.
3 min read · 23 March 2016
