Surge Private Equity has announced it has invested in Elite Clinical Network (ECN) in a transaction valued at around $200 million.
ECN, founded in 2003 and based in Las Vegas, is a network of pharmaceutical research sites throughout California, Arizona and Nevada.
Surge, based in Dallas, is lower middle market equity firm pursuing investments…
The Centers for Medicare & Medicaid Services (CMS) recently released data on its 2021 and 2022 settlements of voluntary self-disclosures related to past violations or potential violations of the physician self-referral law (the “Stark Law”). In 2022, CMS settled a record 104 self-disclosures, with settlement amounts totaling over $9,000,000 in the aggregate. These amounts are nearly quadruple the number and amounts of settlements in 2021 and one more than the previous record number from 2016. The record number and value of settlements in 2022 shows a marked increase from 2020 and 2021, when we speculated that CMS focused greater attention on the 2019 novel coronavirus (“COVID-19”) pandemic. Coming on the heels of the COVID-19 pandemic, it appears that CMS is working to review a greater number of self-disclosure submissions annually, which may reduce the backlog or the time it takes to have a self-disclosure reviewed.
In the past three to four years, health system transaction activity has significantly slowed, due, in large part, to the unavoidable COVID-19 response efforts hospitals faced. Now, in this post-pandemic era, hospitals are reemerging and reengaging as active players in the transaction sphere — particularly when it comes to joint ventures, as McGuireWoods discussed during…
Grant Avenue Capital has announced it has participated in a recapitalization of CREO with founding partners of the company.
CREO, founded in 2015 and based in Durham, N.C., is a provider of strategy, merger and acquisition, digital transformation, cybersecurity, information technology quality and regulatory compliance consulting services to life sciences and healthcare organizations/
Notable litigation filed during August 2023 includes: (1) SEC v. Rocha; (2) Legum v. Garfinkel, et al.; and (3) SEC v. Conn. Jr.
Thoma Bravo will acquire NextGen Healthcare, according to a news release.
NextGen, founded in 1994 and based in Atlanta, is a provider of healthcare software services.
Thoma Bravo agreed to pay $23.95 for each NextGen share in a transaction valued at approximately $1.8 billion. Upon completion of the transaction, NextGen will become a…
In its continued effort to curb fraud and abuse in the hospice industry, on Aug. 22, 2023, the Centers for Medicare & Medicaid Services (CMS) announced it was making unannounced site visits to every Medicare-enrolled hospice nationwide.
The goal of the site visits was to ensure that each hospice was active and operational at the…
FFL Partners has announced it has completed a growth investment in Johnson County Clin-Trials (JCCT).
JCCT, based in Lenexa, Kan., is a clinical research site platform serving pharmaceutical and biotechnology companies and contract research organizations. Founded in 2005, JCCT specializes in phase I–IV outpatient and inpatient clinical trials.
FFL, based in San Francisco,…
L Catterton has acquired Thorne HealthTech, according to a news release.
Thorne, founded in 1984 and based in New York, is a provider of at-home health tests and nutritional supplements.
L Catterton is paying $10.20 per share to acquire all outstanding shares of Thorne common stock in a transaction valued at approximately $680 million. Upon…
TPG has announced it will acquire a majority stake in Crowe Healthcare Consulting from Crowe LLP.
Crowe LLP, with its corporate headquarters in Chicago, is a global public accounting, consulting and technology firm.
Following completion of the transaction, Crowe Healthcare Consulting will be rebranded as Kodiak Solutions. Crowe LLP will retain a minority ownership…
