Welltower (Affiliate) to Acquire NorthStar Healthcare Income; TPG to Acquire Altus Power; Jade Biosciences to Merge with Aerovate Therapeutics (Plus KVAC/ Madera SPAC Merger)

Aerovate Therapeutics to Merge with Jade Biosciences

April 7, 2025

Biotechnology

Aerovate Therapeutics announced it expects to declare a cash dividend to its pre-merger stockholders in connection with its previously announced merger with Jade Biosciences. The cash dividend is expected to total $67.6 million to $69.6 million, with the closing expected no later than April 30, 2025 and subject to stockholder approvals and customary closing conditions.

Keen Vision Acquisition Corporation to Merge with Medera Inc. (NASDAQ Listing)

September 5, 2024

Biotechnology

Keen Vision Acquisition Corporation (KVAC) entered into a definitive merger agreement with clinical-stage biotechnology company Medera Inc. to take Medera public on Nasdaq, expected to close in the fourth quarter of 2024. The business combination is expected to provide funds that will accelerate Medera’s three most advanced AAV-based gene therapy programs.

TPG Acquires Altus Power for $2.2 Billion

February 6, 2025

Infrastructure

Altus Power, a commercial-scale clean energy provider focused on solar and related infrastructure, agreed to be acquired by TPG through its TPG Rise Climate Transition Infrastructure strategy in an all-cash deal valued at about $2.2 billion (including outstanding debt). In the merger, Altus Power stockholders receive $5.00 per share. The transaction closed in April 2025 and Altus Power became privately held, with its NYSE listing removed.

Merz Lifecare Acquires Majority Stake in WindStar Medical from Oakley Capital

October 7, 2024

Consumer Products

Oakley Capital Fund IV has agreed to combine its portfolio company WindStar Medical with Merz Lifecare, with the Merz Group taking a majority stake in the new holding. The transaction — subject to regulatory approvals — will create a leading provider of OTC health, wellbeing and beauty products in the DACH region and continues Oakley’s support of WindStar following its 2020 investment.

TPG Capital and Leonard Green & Partners Invest in WellSky

July 20, 2020

Healthcare Services

WellSky has agreed to a new capital partnership that adds Leonard Green & Partners alongside existing investor TPG Capital, with TPG making a new equity investment and creating a new capital structure for the company. The recapitalization is intended to accelerate WellSky's technology innovation and expansion across the post-acute and community care continuum; terms were not disclosed and the deal was expected to close in Q3 2020.

WellSky Acquires Corridor from HealthEdge Investment Partners

October 12, 2023

Healthcare Services

WellSky, a health and community care technology company backed by Leonard Green and TPG, has acquired The Corridor Group Holdings (Corridor) from HealthEdge Investment Partners. The acquisition expands WellSky's medical coding and revenue cycle management (RCM) capabilities for the post-acute care market and brings Corridor's tech-enabled coding, clinical documentation review, billing and collections services into WellSky's platform.