Funds led by Carlyle have acquired a majority stake in Saama Technologies, according to a news release.
The investment is valued at up to $430 million.
Saama, based in Campbell, Calif., is an AI clinical analytics platform company. Founded in 1997, the company states that biotech companies use Saama’s Life Science Analytics Cloud platform…
Linden Capital Partners has announced it has acquired BioIVT from Arsenal Capital Partners.
BioIVT, based in, Westbury, N.Y., is a provider of biological specimens for the pharmaceutical discovery and development market. Formerly BioreclamationIVT, the company specializes in control and disease state samples, including human and animal tissues, cell products, blood and other biofluids.
Linden,…
Securities and Exchange Commission v. Woods, Livingston Group Asset Management Company d/b/a Southport Capital, and Horizon Private Equity, III, LLC was filed in the United States District Court for the Northern District of Georgia on August 20, 2021. The SEC alleges that Defendants defrauded investors, many of whom were elderly, with illusory promises of guaranteed returns for their investment in the Defendants’ affiliated fund.
On October 6, 2021, the U.S. Department of Justice (DOJ) announced its plans for increased scrutiny of the cryptocurrency market with the creation of a National Cryptocurrency Enforcement Team (NCET) to pursue criminal investigations and actions against cryptocurrency misuse. The NCET will focus on “crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors” and will also aid in the tracing and recovery of assets lost to ransomware payments and other fraud and extortion.
Revelstoke Capital Partners has announced it has exited its investment in Carrus.
Carrus, based in Lehi, Utah, provides healthcare learning content, continuing education and certification management. Founded in 1992, the company states it has provided education to more than 100,000 healthcare professionals.
Revelstoke Capital Partners, based in Denver, focuses on investing in the…
On October 6, 2021, the Department of Justice (DOJ) announced a new Civil Fraud Cyber Initiative to “combine the department’s expertise in civil fraud enforcement, government procurement and cybersecurity to combat new and emerging cyber threats to the security of sensitive information and critical systems.”
Wellspring Capital Management has acquired Pentec Health, according to a news release.
Pentec Health, based in Glen Mills, Pa., is a provider of compounded sterile medications. The company’s formulations are used for administration in dialysis centers as well as providing in-home targeted drug delivery through nursing services and complex pharmaceutical products to patients…
The Wall Street Journal is reporting that NovaQuest Capital Management has spun off its private equity unit into a new entity.
The entity, QHP Capital, is now pitching its second fund and targeting $425 million, according to the Wall Street Journal’s report that’s based on regulatory filings and discussions with people familiar with the fundraising.…
How to provide financial services to limited-English proficiency (“LEP”) consumers has become a pressing legal issue. Both federal and state laws provide requirements and limitations regarding translations of financial documents. Earlier this year, the Consumer Financial Protection Bureau (“CFPB”) published a comprehensive statement encouraging financial institutions to provide services to LEP consumers. The CFPB also took enforcement action against a company for, among other things, deceptively marketing to Spanish-speaking consumers. Following the trend to protect LEP consumers, a new Nevada law, effective October 1, 2021, makes it a deceptive practice to not provide translations for certain financial contracts, agreements and disclosures (“Nevada Law”).
Under the Nevada Law, enacted as Assembly Bill No. 359, any person, who in the course of business, advertises and negotiates certain transactions in a language other than English must provide a translation of the contract or agreement that results from the advertising and negotiations. The translation must include every term and condition of the contract or agreement.
On Sept. 17, the U.S. Department of Justice released the results of its 2021 Healthcare Takedown — an annual announcement aggregating months of investigations and indictments across the country involving fraud in the healthcare and life sciences industries.
Read on for details and analysis of criminal charges against 138 defendants, including 42 medical professionals, related…
