Northlane Capital Partners (NCP) has announced it has completed an investment in Empower Community Care.
Empower, based in Atlanta, is a behavioral health organization that distributes evidence-based programs and technologies. The company provides services in 45 states and 17 countries. Empower is the parent company of MST Services, Orbis Partners and Evidence Based Associates.…
Last month, the Eleventh Circuit upheld the conviction and 11-year prison sentence of a physician-Medical Director of two substance abuse treatment centers in Florida who was convicted by a jury of participating in a conspiracy to commit healthcare fraud. On appeal, Arman Abovyan, a board-certified internal medicine physician, challenged his convictions based on insufficiency of…
WindRose Health Investors is leading an investor group selling myNEXUS to health benefits company Anthem, according to a news release.
myNEXUS, based in Brentwood, Tenn., manages home-based nursing services for payors. The company states that it delivers integrated clinical support services for approximately 1.7 million Medicare Advantage members across 20 states.
WindRose, which…
Avista Capital Partners has announced it has signed a definitive agreement to invest in eMolecules.
eMolecules, based in San Diego, is provider of high-value, hard-to-find chemicals and bioreagents used in early-stage drug discovery research. Founded in 2005, the company connects pharmaceutical and biotechnology researchers with reagents not offered by the usual commodity suppliers.
RiverVest Venture Partners has announced it has closed its fifth fund — RiverVest Venture Fund V — with $275 million of capital commitments.
RiverVest, based in St. Louis, Mo., is a venture capital firm that targets investments in early-stage biopharma and medical device companies.
Fund V is RiverVest’s largest fund to date. With the…
On March 9, 2021, the Second Circuit heard oral arguments in connection with the New York Department of Financial Services’ (“DFS”) challenge to block the Office of Comptroller of the Currency’s (“OCC”) special purpose national bank charter (“fintech charter”). The lawsuit was filed in the Southern District of New York in September of 2018, shortly after the OCC made available its special purpose bank charter.
The fintech charter would allow certain non-depository fintech companies to operate as “special purpose national banks” under the National Bank Act (“NBA”), which is overseen by the OCC without the burden of state-by-state regulation and licensing. The OCC views deposit-taking as just one of the activities undertaken by banks in the “business of banking” under the NBA. However, critics, including the DFS, argue deposit-taking is essential to the “business of banking,” which should preclude non-depository fintech companies from obtaining national bank protections.
Accelmed Partners has announced that it led a $40 million investment in MedMinder Systems.
MedMinder, based in Needham Heights, Mass., is an end-to-end pharmacy, medication adherence and connected care solution designed for elderly and polypharmacy patients. Founded in 2007, the company’s pill dispenser delivers medications from its pharmacy to patients’ doors in preorganized daily…
As previously discussed, on April 3, 2020, the U.S. Department of Health and Human Services Office of Inspector General (OIG) issued a process for inquiries to be submitted to OIG about whether administrative enforcement discretion would be provided for certain arrangements directly connected to the 2019 novel coronavirus (COVID-19). OIG established this process to…
Beverly Capital has acquired The Eye Health Group, according to a news release.
The Eye Health Group, based in Eatontown, N.J., is medical optometric service provider with locations in New Jersey and New York. The company provides a suite of medical eyecare services
Beverly Capital, based in Los Angeles, is a private…
Ebury Street Capital, LLC, et al. v. McOsker, et al. was filed in the United States District Court for the District of Delaware on February 12, 2021, claiming civil damages for an alleged $3.5 million Ponzi scheme perpetrated by the defendants.
Plaintiffs are entities in the business of buying tax lien certificates, and defendants are individuals and entities who purported to be legitimate brokers and market-makers for the selling and trading of tax lien certificates.
