Riverside doubles up on healthcare deals

The mid-market firm has made two healthcare-related acquisitions this week, one in Portugal and one in Texas.

The Riverside Company is continuing to bolster its funds' healthcare portfolios, having done a deal on each side of the Atlantic this week.

The mid-market firm has purchased FairPay Solutions, a Texas-based company that provides bill review and auditing services related to workers' compensation medical claims. It also re-prices auto accident claims and long-term care claims, Riverside said in a statement.

The FairPay investment, the size of which was undisclosed, was made via the firm's fifth global buyout fund, which closed on $1.2 billion in June.

Earlier this week, Riverside paid an undisclosed sum to purchase Crioestaminal, a Portuguese company that preservers umbilical cord blood stem cells for to potentially help treat illnesses in future.

The Crioestaminal deal represented the second investment from the firm's fourth European fund, which is still in the market. It is understood to be targeting around €550 million.