Healthcare Services Acquisitions in 2022

Funds advised by AUCTUS Capital Partners AG sold a majority stake in pharma services group PharmaLex to AmerisourceBergen Corporation in a transaction valued at approximately EUR 1.28 billion. PharmaLex provides regulatory, safety, compliance (GxP), and other tech-enabled services to biopharma companies across the product lifecycle. The deal closed at year-end 2022.

Assure Holdings Corp. completed the acquisition of substantially all assets of Neuroprotect Neuromonitoring, LLC and certain affiliates (collectively known as NervePro), an intraoperative neuromonitoring (IONM) service provider based in Colorado. The acquired assets include certain accounts receivable, material contracts, business relationships, and other tangible assets, with consideration paid in Assure common stock.

Integrative Life Network (ILN) acquired Shadow Mountain Recovery Programs, a New Mexico-based substance use disorder treatment provider. The acquisition expands ILN’s portfolio of trauma-focused treatment programs into the U.S. Southwest, adding detox, residential, and outpatient services across multiple New Mexico locations.

MyCare Medical acquired Jacinto Medical Group (JMG), a multi-specialty physician group with four clinics and an imaging center in Baytown and LaPorte, Texas. The deal expands MyCare Medical’s managed healthcare presence in the Texas region, increasing access for Medicare patients in Southeast Texas.

Flourish Research, a portfolio company of NMS Capital, acquired Suncoast Research Group, LLC, a multi-therapeutic clinical research site based in Miami, Florida. The deal expands Flourish’s integrated clinical trial site network, and Suncoast’s founders Marco Ramirez and Dr. Mark Kutner and the existing management team will continue in their roles. Financial terms were not disclosed.

Doctor Anywhere, a Novo Holdings portfolio company, acquired Catalist-listed Asian Healthcare Specialists, an integrated specialist healthcare provider in Singapore. The deal expands Doctor Anywhere’s capabilities beyond primary care into multidisciplinary specialist clinics, supporting its regional growth ambitions across Southeast Asia. Doctor Anywhere also raised a US$38.8 million Series C1 round led by Novo Holdings, with participation from existing investors, to accelerate growth and partly fund the acquisition.

Wellable acquired the assets of DailyEndorphin, a corporate wellness challenges platform. Following the transaction, DailyEndorphin customers will transition to the Wellable Wellness Platform and gain access to Wellable’s expanded wellness content and services.

Calibre Scientific acquired Carvalhaes, a Brazilian distributor of laboratory consumables and scientific equipment. The deal marks Calibre Scientific’s first acquisition in Latin America and expands its global life-sciences distribution platform in Brazil.

Certified Group announced an investment in the hemp and CBD laboratory testing business of Knoxville, Tennessee-based Kaycha Labs. The acquired testing operation will run under Certified Group’s Labstat name, expanding Labstat’s capabilities and entry into the U.S. hemp testing market. Certified Group is backed by Warburg Pincus and Tilia Holdings.

FUJIFILM Corporation entered into an asset purchase agreement to acquire the global digital pathology business of Inspirata, Inc., including its Dynamyx technology, employees, and customers. The transaction will expand Fujifilm’s Synapse Enterprise Imaging portfolio by adding digital pathology capabilities for integrating pathology images and data into healthcare organizations’ EHR workflows. The deal is expected to close in early 2023, subject to customary closing conditions; financial terms were not disclosed.

Rise Health announced the closing of a growth equity investment led by Lorient Capital and Martis Capital. The funding will support Rise Health’s expansion of its technology-enabled, value-based primary care platform across the Southwest United States and continued investment in technology.

Aurora Health acquired Cornerstone Treatment Facilities Network, an inpatient addiction care provider, in a private transaction with undisclosed financial terms. Carl Marks Securities LLC advised Cornerstone on the sale, which followed a prolonged process impacted by the pandemic.

On December 16, 2022, Synergy IOM, LLC, a portfolio company of Monument MicroCap Partners, recapitalized Premier Health Billing Services, LLC. Premier, based in the San Diego area, provides outsourced medical billing services such as coding, A/R denials management, insurance collections, credentialing, payor contracting, and group formation. The transaction represents Synergy’s third recapitalization/add-on since Monument recapitalized Synergy in November 2020.

The Stepping Stones Group acquired Building Blocks Behavior Consultants, Inc., a provider of center-based Applied Behavioral Analysis (ABA) therapy for children on the autism spectrum. Building Blocks, founded in 2006 and serving clients in the Sacramento, California area, will continue operating with founder Mila Zea remaining with the company as Regional Clinical Manager.

JoyBridge Kids, a portfolio company of Frontline Healthcare Partners, acquired Independence Behavior Solutions, an applied behavior analysis (ABA) therapy provider. Independence is based in Savannah, Georgia and operates two locations, expanding JoyBridge’s footprint into Georgia alongside its existing Tennessee clinics.

Sunvera Group, a management services organization and portfolio company of Ridgemont Equity Partners, formed a new partnership with Ophthalmic Physicians Incorporated (OPI) and its affiliates Lasik Vision Centers of Cleveland and Surgical Care Center. The transaction expands Sunvera Group’s presence in Ohio, adding OPI’s ophthalmology practice in Mentor, Ohio and its ambulatory surgery center operations in Painesville, Ohio to Sunvera’s Midwest network.

The Pharmacy Technician Certification Board (PTCB) acquired the Pharmacy Technician Educators Council (PTEC) to combine resources, expertise, and infrastructure. The transaction is intended to enhance support and professional development for pharmacy technician educators and strengthen the pharmacy technician workforce through expanded training and education resources.

Velocity Clinical Research acquired Meridian Clinical Research for an undisclosed amount, creating the largest dedicated clinical research site organization globally. Meridian, founded in 1999 and headquartered in Omaha, Nebraska, operates a multi-specialty network conducting Phase I–IV clinical trials; the combined business will have roughly 80 sites across the U.S. and Europe and employ more than 1,500 clinical research professionals.

Anne Arundel Dermatology Management announced new partnerships with North Atlanta Dermatology, SkinPath Solutions, and Dermatology Institute for Skin Cancer and Cosmetic Surgery, expanding its dermatology and dermatopathology footprint in Georgia. The affiliations extend the Anne Arundel Dermatology platform to roughly 150 locations and 300 providers across seven states. Anne Arundel Dermatology is a portfolio company of Ridgemont Equity Partners.

The Care Team (TCT), a Revelstoke Capital Partners portfolio company, completed the acquisition of 1st Care Home Health and Care Hospice (collectively, 1st Care), regional home health and hospice providers based in Carmel, Indiana. The deal expands TCT into Indiana, and select members of 1st Care’s leadership team will continue in management roles. Financial terms were not disclosed.

Carisk Partners, a portfolio company of MBF Healthcare Partners II, completed its acquisition of Advanced Claims Review Specialists (ACRS). ACRS provides medical cost containment services through evidence-based analysis of medical bills and records, and the deal expands Carisk’s capabilities in managing billed charges and cost containment for workers’ compensation catastrophic cases.

Rezolut, LLC entered into a partnership agreement to acquire CNY Diagnostic Imaging Associates, LLC, a multimodality radiology network headquartered in Syracuse, New York. The transaction expands Rezolut’s outpatient imaging footprint, increasing its total to 40 centers nationwide (including 16 in the Northeast) and strengthening its diagnostic imaging platform in Central New York.

MBF Healthcare Partners II, L.P. completed the acquisition of Austin Connect to Wellness, LLC d/b/a ABA Connect, a Texas-based provider of applied behavior analysis (ABA) therapy for children and adolescents with autism spectrum disorder. Founded in 2013, ABA Connect operates six facilities across the Austin and Houston metro areas, and the partnership is intended to support continued expansion in Texas and into other states.

U.S. Foot & Ankle Specialists, LLC (USFAS), a portfolio company of NMS Capital, acquired Missouri Foot and Ankle (three clinics in Missouri) and Rock River Foot and Ankle Clinic PC (two clinics in Wisconsin). The acquisitions expand USFAS’ podiatry footprint and bring the acquired practices onto USFAS’ administrative and clinical support platform.

Red Nucleus (RN), a life sciences-focused provider of medical communications and related commercialization services, acquired AlphaGroup Medical Communications, LLC. The Riverside Company backed the transaction as an add-on investment to its Red Nucleus platform, expanding RN’s medical communications capabilities into high-science publications, medical affairs communications, and HEOR/RWE and payer communications.

All-Stat Portable announced the acquisition of Texas-based GHC Imaging to expand its mobile diagnostic imaging and related portable healthcare services footprint into Texas. GHC Imaging will continue operating as the local Texas provider with continuity of service, while leveraging All-Stat Portable’s broader capabilities and adding new service offerings for customers.

Vision Innovation Partners (VIP), a Mid-Atlantic ophthalmology platform backed by Gryphon Investors, announced it has partnered with and acquired Chesen Laser Eye Center in Reading, Pennsylvania. The transaction represents VIP’s 24th add-on acquisition since 2017 and expands VIP’s network of ophthalmology practices and surgery centers across the Mid-Atlantic.

Pinnacle Treatment Centers acquired MBA Wellness Center, a privately owned outpatient opioid addiction treatment program in Stockbridge, Georgia. Following the acquisition, MBA Wellness Center will be rebranded under Pinnacle’s existing Georgia platform name, HealthQwest, expanding the combined Georgia network to six centers serving more than 1,300 patients daily.

Prime Health Services, Inc. announced it is acquiring the InterGroup provider network from InterGroup Services. InterGroup is an auto, workers' compensation, and group health PPO network serving Pennsylvania, New Jersey, Delaware, and West Virginia, expanding Prime Health Services' network coverage in those states.

NMS Capital has partnered with Surplus Solutions LLC’s management team to complete a recapitalization of the company; financial terms were not disclosed. Surplus Solutions provides equipment lifecycle management services focused on procuring and reselling clinical laboratory and processing equipment to biotechnology, pharmaceutical, and nutraceutical customers. Twin Brook Capital Partners provided debt financing to support the transaction.

RADfertility, a Delaware-based fertility clinic group, was acquired by CCRM Fertility in a transaction advised by Dresner Partners. Financial terms were not disclosed, and RADfertility’s physician leadership will continue in clinical leadership roles following the deal.

Affiliates of Z Capital Group (ZCG), through its private equity arm Z Capital Partners, acquired Universal Marine Medical Supply International (Unimed), a global provider of pharmaceuticals, medical supplies, and clinical services for the maritime industry. The deal’s financial terms were not disclosed. Under ZCG ownership, Unimed plans to expand further into global marine markets while enhancing services to cruise and commercial vessel operators.

BayMark Health Services acquired Nashville Recovery, an office-based opioid treatment (OBOT) clinic located in the Nashville, Tennessee area. Nashville Recovery, founded in 2017, provides opioid use disorder treatment via in-office and telemedicine visits, and will add to BayMark’s existing network of OBOT programs.

Meduit, a healthcare revenue cycle solutions company, announced that JP Recovery Services (JPRS) has joined the Meduit organization through a merger. The combined company will expand revenue cycle management capabilities for hospitals, physician groups, and private practices across the United States, with JPRS founders John Beirne and John Murray transitioning into consulting roles.

Medical Specialists of the Palm Beaches (MSPB), a Florida-based primary care-focused, multi-specialty physician group, received an equity investment from Ascend Capital Partners along with management partners at CareAbout. The investment will support MSPB’s expansion across South Florida, growth of its value-based care offerings, and additional clinical specialty services.

Everest Clinical Research, a full-service contract research organization (CRO) and a portfolio company of Arlington Capital Partners, has acquired Brightech International. Brightech, headquartered in New Jersey, provides biostatistics, statistical programming, and clinical data management services and will continue to be led by founder and CEO Dr. Tai Xie. The deal expands Everest’s biometrics capabilities and supports its inorganic growth strategy.

CheckedUp, a New York-based provider of digital healthcare solutions and a portfolio company of Rockbridge Growth Equity, acquired Health Media Network (HMN), a Norwalk, Connecticut-based provider of digital healthcare solutions and wellness content. Comvest Credit Partners provided a senior secured credit facility to CheckedUp to finance the acquisition and support future growth of the combined platform.

Snap Health signed a deal to acquire Your Therapy Source (YTS), a large Texas-based healthcare services provider. The transaction expands Snap Health’s clinician network and home health partnerships and adds in-home registered nurse visits to its in-home therapy offerings; financial terms were not disclosed.

Enhabit, Inc. acquired Southwest Florida Home Care, Inc.'s home health agency located in Fort Myers, Florida. The deal expands Enhabit's existing Florida footprint and increases its capacity to serve patients across southwest Florida with home health services.

Funds advised by Gyrus Capital agreed to acquire a 40% stake in Consulcesi Group, alongside the company’s founder and management, to support growth and international expansion. Consulcesi is a healthcare-focused digital services provider offering continuous medical education (CME), data analytics, digital marketing, and legal/insurance-related services, and plans further M&A to build a pan-European platform.

One GI, a gastroenterology management services organization backed by Webster Equity Partners, partnered with The Colon, Stomach, and Liver Center (CSL) and Loudoun Endoscopy Group in Lansdowne, Virginia. The agreement also includes Loudoun Endoscopy Center, supporting One GI’s expansion in the Eastern United States and providing capital and management services to help grow the practices.

Newport Healthcare completed the acquisition of PrairieCare, a Minnesota-based provider of mental health services with a large pediatric psychiatric practice. The deal expands Newport Healthcare’s continuum of care and strengthens its presence in Minnesota, with the combined organization aiming to broaden access to youth and adult mental health treatment across the Midwest.

Euson Lindsay Health LLC acquired The Green House Cottages of Carmel, a 72-bed skilled nursing facility in Carmel, Indiana. The transaction closed on November 30, 2022, and the facility will be rebranded as The Restoracy of Carmel.

Nox Health announced a strategic growth investment from Vestar Capital Partners to accelerate the development and adoption of its sleep diagnostic technology and value-based sleep management solutions. Financial terms were not disclosed. Nox Health is headquartered in Atlanta, Georgia.

ARC Health, a Thurston Group portfolio company, announced the acquisition of Lotus Consulting, PLLC, a comprehensive mental health therapy practice. Lotus Consulting, founded and led by Ilona Phillips, expands ARC Health’s network of mental health providers, adding mindfulness-based counseling and training services in Ann Arbor, Michigan.

Amulet Capital Partners acquired United Vein & Vascular Centers (UVVC), a provider of outpatient vein, arterial, and wound-related vascular care services, for undisclosed terms. Founded in Florida in 2014, UVVC operates more than 30 clinical locations across several states and will continue to be led by founder and CEO Dr. Gamal Wazni. The partnership is intended to support UVVC’s continued national expansion and growth in office-based vascular care.

Audax Private Equity acquired Medi-Weightloss, Inc., an operator and franchisor of physician-supervised weight-loss and wellness clinics with approximately 100 locations nationwide. Buzz Franchise Brands co-invested alongside Audax as a minority-stake partner, and financial terms were not disclosed. Medi-Weightloss is headquartered in Tampa, Florida, and also sells proprietary nutritional supplements, healthy-food products, and vitamins.

Rendr and Excelsior Integrated Medical Group (Excelsior) agreed to combine to form an expanded integrated multi-specialty medical group and related professional management services organization operating under the Rendr name. The combined organization will have roughly 200 providers across nearly 100 medical sites in New York City and is backed by healthcare-focused private equity firms Ascend Capital Partners and Kain Capital.

The Metro Group Plc (TMG) completed the acquisition of the Evercare Health Fund’s majority shareholding in Metropolitan Hospital Holdings Limited (MHHL), which owns Metropolitan Hospital and Ladnan Hospital in Kenya. Following the transaction, TMG assumes majority ownership and effective control of MHHL; financial terms were not disclosed.

Princeton Medspa Partners closed the acquisition of Tulsa, Oklahoma-based Skin Care Institute, expanding its portfolio of medical spa locations to five in 2022. Founders Dr. Jeff Alexander and Judy Alexander will remain with the practice, with Judy continuing as Executive Director and Jeff as Medical Director.

Inflow, a CBT-based self-help app focused on ADHD, has agreed to acquire tele-health clinic Lina Health. The deal is intended to broaden Inflow’s care offering by adding Lina’s technology-forward mental health services and platform, with plans to expand into services such as professional diagnoses and tele-coaching.

Montgomery DME, a portfolio company of Incline Equity Partners, acquired Advantage Home Medical Services, Inc. (AHMS), a provider of durable medical equipment primarily serving hospice patients in home settings. AHMS is headquartered in North Las Vegas, Nevada, and the transaction closed on November 22, 2022.

Sightpath Medical, a provider of mobile ophthalmic services and equipment for cataract and refractive surgery, has acquired Accusite Surgical, a mobile cataract surgery equipment outsourcing company. Following the acquisition, Accusite Surgical founder and CEO D. Lynn Godfrey will join Sightpath Medical as Chief Strategy Officer. The deal is intended to strengthen Sightpath Medical’s market position and expand its ability to serve surgeons, ambulatory surgical centers, and hospitals.

Kain Capital LLC formed a new hospice investment holding company, PERA Holdings, and completed its first acquisition by purchasing a majority stake in Hospice Care of America (HCA). HCA is headquartered in Kansas City and operates affiliated hospice and palliative care businesses across Kansas, Missouri, Oklahoma, and Colorado, with the founders retaining roles and remaining equity owners.

Prime Aesthetics Group, a physician-led partnership of plastic surgery practices, acquired NassifMD Plastic Surgery & Med Spa in Beverly Hills, California. The practice, founded and led by Dr. Paul Nassif, will continue operating under his leadership as Prime expands its national footprint. Prime noted that proceeds from a recent capital investment round with White Oak Global Advisors have funded recent acquisitions, including this transaction.

Evolent Health, Inc. entered into a definitive agreement to acquire NIA (also known as Magellan Specialty Health), Centene Corporation’s specialty benefit management organization focused on radiology, musculoskeletal, physical medicine, and genetics. The deal consideration includes $650 million payable at close plus up to $150 million of contingent consideration based on 2023 performance, with part of the upfront payment funded through $250 million of Evolent equity issued to the sellers. Following closing, NIA will be integrated into Evolent’s value-based specialty care business, alongside assets such as New Century Health, Vital Decisions, and IPG, and the parties will expand and extend NIA’s contracts with Centene through 2027.

Rural Healthcare Group (RHG), backed by Kinderhook Industries, acquired four primary care clinics in Northern Middle Tennessee to expand access to care in Robertson and Cheatham Counties. The clinics are located in Pleasant View, Springfield, Greenbrier, and White House, and RHG plans to invest in technology adoption, service expansion, and improved clinical practices.

Inteli-Care LLC, a personal care services provider based in Albuquerque, New Mexico, was acquired by 24 Hour Home Care, which operates under the national home care organization TEAM Public Choices. The transaction, advised by Generational Equity, closed on November 16, 2022. Inteli-Care’s owners Onesimo "Mo" Vigil and Rachel Vigil will remain in their roles and become partners of the acquirer post-closing.

LongueVue Capital (LVC) announced a partnership and investment in Pinnacle Clinical Research, LLC, a multi-location clinical trial site organization specializing in complex therapeutic areas such as hepatology (including NAFLD and NASH). Founded in 2016 and headquartered in San Antonio, Texas, Pinnacle operates clinical trial sites across Texas and plans to use LVC’s support to drive continued organic and inorganic growth.

Apploi, a healthcare hiring and human capital management software platform, has acquired OnCall, a healthcare shift management and scheduling solution. The deal expands Apploi’s capabilities by adding automated shift scheduling and staff management to the same platform used for hiring, onboarding, and compliance.

TeamHealth acquired Acute Care Transitions, LLP (ACT), an emergency medicine and advanced care at-home telehealth provider, to expand its presence in the Dallas–Fort Worth market. The deal broadens TeamHealth’s virtual care offerings in Texas, including post-emergency discharge follow-up and advanced care at-home services supporting the Texas Health Resources health system.

SonderMind acquired integrative neuroscience company Total Brain to expand its mental health offering with science-backed, data-driven monitoring and personalized self-care tools. The deal brings Total Brain’s SaaS mental wellness platform and research capabilities into SonderMind’s ecosystem across individuals, providers, enterprises, and health plan/health system partners. Total Brain, previously listed on the Australian Stock Exchange, was taken private as part of the transaction.

Surround Care, headquartered in St. Louis, closed the merger between Navvis and Esse Health. Following the transaction, Navvis and Esse Health will operate as business units and wholly owned subsidiaries under the newly formed parent company, Surround Care. The combined organization focuses on population health and value-based care services for health systems, physician enterprises, and health plans.

Millstone Medical Outsourcing, a portfolio company of Arlington Capital Partners, completed its acquisition of MycoScience on November 14, 2022. Headquartered in Willington, Connecticut, MycoScience adds medical device and pharmaceutical laboratory testing, environmental testing, and related regulatory support services to Millstone’s post-manufacturing and aftermarket service capabilities.

Millstone Medical Outsourcing, a portfolio company of Arlington Capital Partners, completed the acquisition of Ethide Laboratories on November 14, 2022. Ethide Labs, headquartered in West Warwick, Rhode Island, provides regulatory and specialty testing services for medical device and pharmaceutical companies, expanding Millstone’s precision testing and end-to-end post-manufacturing support capabilities.

Accelmed Partners closed a $35 million investment in SKNV Inc., a dermatology digital health company providing in-practice dispensing and e-commerce for customized prescriptions and skincare. The funding will support SKNV’s new manufacturing facility in Florida, expansion of its proprietary digital health platform, and broader U.S. commercial and management growth. Lake Street Capital served as the sole financial advisor on the transaction.

Veranex announced strategic investments/partnerships from Accelmed Partners II and Lauxera Capital Partners to support the company’s continued global expansion. Existing investor Summit Partners, which invested in 2021, will retain majority ownership alongside the Veranex management team; financial terms were not disclosed.

CareMax, Inc. completed the acquisition of the Medicare value-based care business of Steward Health Care System, expanding CareMax’s senior-focused value-based care platform in the United States. The acquired business includes a Medicare Direct Contracting Entity and two Medicare Shared Savings Program accountable care organizations. CareMax paid $25 million in cash and issued 23.5 million shares to Steward’s equityholders at closing, and also advanced approximately $36 million in cash to Steward related to an MSSP receivable.

Antin Infrastructure Partners has joined HOFI, an Italy-based funeral infrastructure operator, as a new long-term strategic partner. Existing shareholders, including Augens Capital, will remain invested and continue supporting HOFI as it expands its network of funeral homes and partners with additional funeral infrastructure operators across Northern Italy.

ELNA Medical, a Montreal-based network of medical clinics, announced it has acquired m-Health Solutions, a provider of in-home cardiac diagnostics and real-time remote patient monitoring. The deal expands ELNA’s in-home patient monitoring capabilities through m-Health Solutions’ wearable ECG (Holter) technologies and cloud-based AI-enabled reporting services. National Bank Private Equity provided financial support to ELNA for the transaction.

HCA Healthcare acquired Florida-based Paramount Urgent Care, Inc., which operates six urgent care clinics in Central Florida. The transaction expands HCA’s urgent care footprint in the greater Orlando market, with Benchmark International serving as the advisor facilitating the deal.

CNSI and Kepro agreed to merge to form a combined healthcare solutions company serving government-sponsored healthcare agencies and payers with technology-enabled clinical services, care management, and health analytics. CNSI is backed by Carlyle, while Kepro is owned by Apax Partners funds, which will exit its investment as part of the transaction. The merged company will maintain headquarters in McLean, Virginia and Nashville, Tennessee and is expected to close in December 2022.

Acadia Healthcare Company, Inc. acquired four comprehensive treatment centers (CTCs) from Georgia-based Brand New Start Treatment Centers. The facilities, located in suburbs within about 40 miles of the Atlanta metropolitan area, expand Acadia’s medication-assisted treatment (MAT) network and increase its total CTC locations to 148.

Avalon GloboCare Corp. signed a definitive agreement to acquire a 60% interest in Laboratory Services MSO, LLC, a reference laboratory headquartered in Costa Mesa, California. The transaction values the deal consideration at $31 million (cash plus preferred stock, plus a deferred payment), with an additional potential earnout of up to $10 million tied to 2022–2023 cash flow targets.

InnovaCare Health completed the acquisition of Pak Medical Group, a physician-led medical group headquartered in New Braunfels, Texas. Pak Medical Group will join the InnovaCare network and be supported by InnovaCare Partners (its MSO network), while existing leadership and clinicians continue in their roles.

SCP Health announced it has completed the acquisition of PREMEDEX, a tech-enabled patient engagement and communications company. The combination is intended to expand SCP Health’s value-based care offerings by improving patient outreach, care coordination, and follow-up through PREMEDEX’s multi-modal communication platform and real-time data capabilities.

US Acute Care Solutions (USACS) has acquired MIDEO (My Informed Decision on VidEO), a video-based advance care planning platform. USACS plans to incorporate MIDEO into its offerings to improve patient safety and expand the platform’s visibility and technological capabilities across its network.

Unilabs is merging with Swiss diagnostic radiology provider RIMED to create a nationwide private radiological diagnostics network in Switzerland. The combined organization will integrate RIMED’s 18 radiology sites with Unilabs’ five radiology centres and expand broader diagnostic capabilities such as pathology, genetics, and clinical analysis.

U.S. Foot & Ankle Specialists, LLC (USFAS), a portfolio company of NMS Capital, acquired Comprehensive Foot & Ankle Centers in Kentucky and Palmetto Podiatry Group of Anderson in South Carolina. The acquisitions expand USFAS’ podiatry clinic network, with the acquired practices gaining access to USFAS’ administrative and support services.

Specialty Networks, LLC, a portfolio company of Linden Capital Partners, acquired Gastrologix, LLC, a gastroenterology-focused group purchasing organization (GPO) founded in 2017. The transaction expands Specialty Networks’ capabilities for independent GI practices by bringing technology, real-world data, and technology-enabled solutions to Gastrologix’s network of more than 470 independent physician practice locations and 2,300 providers.

H.I.G. Capital announced that an affiliate has completed the acquisition of Celerion Holdings, Inc., a full-service outsourced clinical research organization serving pharmaceutical and biotechnology clients. Celerion, headquartered in Lincoln, Nebraska, provides early-stage clinical trial and bioanalytical services including trial design, patient recruitment, site management, bioanalytical testing, and data management.

Foundation Partners Group acquired Solace Cremation, an online cremation company based in Portland, Oregon serving families in Oregon, California, and Florida. The deal adds the Solace brand to Foundation Partners’ existing digital funeral service, Tulip Cremation, strengthening its direct-to-consumer digital deathcare offerings across the United States.

Novo Holdings acquired KabaFusion, a national provider of home infusion therapies, from Pritzker Private Capital. KabaFusion’s clinician-led management team will remain in place and continue as significant investors alongside Novo Holdings; financial terms were not disclosed.

Unifeye Vision Partners (UVP) announced the completion of a strategic partnership with Eye Care of San Diego, an ophthalmology practice based in Mission Hills, California. The transaction adds Eye Care of San Diego as UVP’s 13th member and marks UVP’s ninth practice partnership in California, expanding UVP’s presence in Southern California.

U.S. Physical Therapy, Inc. (NYSE: USPH) acquired 60% of the equity interests in a fourteen-clinic outpatient physical therapy practice, with the practice’s owners retaining the remaining 40%. USPH paid approximately $19.3 million for its stake, with a potential additional earn-out based on future performance; the business generates more than $9 million in annualized revenue and about 84,000 annualized patient visits.

Avista Capital Partners acquired Taconic Biosciences, a provider of genetically engineered murine research models (GEMs) and related services, from H.I.G. Capital. Taconic, founded in 1952 and headquartered in Rensselaer, New York, serves pharmaceutical, biotechnology, CRO, academic, and government research customers. Financial terms of the transaction were not disclosed.

The Pennant Group, Inc. acquired the assets of Kenosha Visiting Nurse Association, Inc. (KVNA), a provider of skilled home health, private duty, and community health services in Kenosha, Wisconsin. The acquisition expands Pennant’s home health footprint in southern Wisconsin and supports its broader continuum-of-care strategy alongside its senior living affiliates.

Workplace Options (WPO) announced the acquisition of The City Practice, a rapid-response provider delivering therapy and work-life support across Central and Eastern Europe. The deal expands WPO’s footprint in the region and enhances its crisis-response capabilities, leveraging The City Practice’s rapid-response delivery model through WPO’s wellbeing technologies.

RadNet, Inc. acquired a 75% controlling interest in London-based Heart & Lung Imaging Limited (Heart&Lung Health/HLH), a United Kingdom-wide teleradiology network focused on lung cancer screening reporting. HLH supports the NHS England Targeted Lung Health Check program and will further collaborate with RadNet’s wholly owned subsidiary Aidence on AI-enabled lung cancer screening and pulmonary nodule management tools.

HCAP Partners announced a growth investment in IronRod Health, an innovative remote patient monitoring platform focused on cardiology. The funding will support IronRod Health’s development of a SaaS platform and expansion of its sales and marketing team; financial terms were not disclosed.

ARC Health, a portfolio company of Thurston Group, announced the acquisition of Focus Forward Counseling & Consulting, Inc. (FFCC), a comprehensive multilingual therapy practice. FFCC operates two locations in Atlanta, Georgia and will join ARC Health’s growing network of mental healthcare practices.

Funds managed by Lee Equity Partners acquired a majority ownership interest in Bradford Health Services, a Birmingham, Alabama-based substance use disorder treatment provider with a network of roughly 40 facilities across the Southeastern United States. The company was acquired from Centre Partners and certain other investors, with Centre Partners retaining an ongoing equity stake; transaction terms were not disclosed. Fifth Third and Comvest provided acquisition financing, including a senior secured credit facility for which Comvest Credit Partners acted as joint lead arranger.

QHP Capital, L.P., the management company for NovaQuest Private Equity, acquired AutoCruitment, LLC, a provider of digital patient recruitment and online screening technology for clinical trials. Monroe Capital LLC provided a senior credit facility to support the acquisition, acting as sole lead arranger and administrative agent.

Color Health announced the acquisition of Mood Lifters, a group-based mental health program, alongside the launch of a new behavioral healthcare solution aimed at public and population health organizations. The deal expands Color’s ability to provide scalable behavioral health screening, counseling, and group-based support through public health departments, school districts, and managed care organizations.

Medrina, a portfolio company of Webster Equity Partners, announced the acquisition of Radial Health, an Illinois-based physiatry practice. The deal expands Medrina’s presence in key markets including Illinois and Florida and strengthens its acute inpatient rehab and long-term acute care hospital relationships as part of a broader continuum-of-care strategy.

Dynamic Access, LLC acquired Complete Intravenous Access Services, Inc. (CIAS), a provider of outsourced vascular access services based in Pittsburgh, Pennsylvania. Founder and owner George Kabay is selling CIAS as it joins Dynamic’s expanding national platform for vascular access. Dynamic is backed by healthcare-focused private equity firm RiverGlade Capital, which partnered with Dynamic in 2021.

LongueVue Capital (LVC) completed an investment in Summit Clinical Research, LLC, partnering with the company’s co-founders Dr. Stephen Harrison and Gail Hinkson. The investment is intended to provide human and financial capital to accelerate Summit’s growth as an integrated research organization specializing in complex clinical indications such as hepatology, NAFLD, and NASH.

Symeres, a Netherlands-headquartered drug discovery and development CRO/CDMO, acquired Exemplify BioPharma, a US-based CRO providing small-molecule CMC services including process and analytical chemistry and formulation development. Keensight Capital, the majority shareholder in Symeres, supported the transaction alongside both companies’ management teams. Exemplify BioPharma will continue to operate under its current co-founders’ management and strengthens Symeres’ footprint in the United States.

New Mountain Capital announced a growth investment in ClaimLogiq, a healthcare technology platform for complex pre-payment claim reviews and payment integrity. Affiliates of New Mountain Capital are partnering with ClaimLogiq’s management team and existing investor Eir Partners to fund the company’s next phase of growth, including product development, talent, and infrastructure.

National Medical Billing Services, a healthcare revenue cycle management (RCM) provider focused on the surgical market, acquired MedTek, LLC. MedTek provides RCM solutions and related software products for ambulatory surgery centers, hospitals, clinics, and specialty groups, and the deal expands National Medical’s end-to-end outsourced RCM offering. The acquisition is National Medical’s fourth transaction since its January 2021 partnership with Aquiline Capital Partners.