Lee Equity Partners has announced it has acquired a majority ownership interest in Bradford Health Services from Centre Partners and other investors.
Bradford Health, based in Birmingham, Ala., is a substance use disorder treatment provider in the Southeast. Founded in 1977, the company operates a coordinated network of 40 facilities.
Lee Equity is a New…
RoundTable Healthcare Partners has announced it has completed the sale of Symmetry Surgical to Aspen Surgical Products.
Symmetry Surgical, based in Antioch, Tenn., is a marketer of reusable, reposable and single-use surgical instrumentation and specialty devices. Founded in 2012, the company’s brands include Bookwalter, Bovie, Greenberg, Reddick and The O.R. Company.
RoundTable, based in Lake…
New Mountain Capital has announced an investment in ClaimLogiq.
ClaimLogiq, founded in 2013 and based in Mount Pleasant, S.C., is the developer of TrueCost, a payer-facing, claim-analyzing solution.
New Mountain, based in New York, is a growth-oriented investment firm. Founded in 1999, the firm manages private equity, credit and net lease real estate…
Signet Healthcare Partners has completed a growth capital investment in LAXAI, according to a news release.
LAXAI, with U.S. offices in Massachusetts and California, is an integrated contract research, development and manufacturing organization. Founded in 2007, the company’s solutions include drug discovery, chemical process research and development and manufacturing for pharmaceutical, biotech and specialty…
Securities and Exchange Commission v. Lam, et al. was filed in the United States District Court for the Central District of California on September 22, 2022, claiming Defendants Brian Lam (“Lam”), Nathan Nguyen (“Nguyen”), NineSquare Capital Partners LLC (“NineSquare Capital”), and Nguyen Group LLC (“NGL”) (collectively, “Defendants”) violated several provisions of the Securities Act and Securities Exchange Act. Specifically, the SEC seeks permanent injunctive relief against all Defendants to prevent future violations of the federal securities laws, permanent injunctions prohibiting Defendants Lam and Nguyen from participating in an unregistered securities offering, disgorgement with prejudgment interest from Defendants and Relief Defendants Yi Ping Lu and Thy Stacy Nguyen (the “Relief Defendants”), and civil penalties against Defendants.
The SEC filed this action against Defendants for operating an offering fraud that targeted the Vietnamese-American community, which raised $11.7 million from 73 investors nationwide from March 2020 to January 2022. Defendant Lam orchestrated the fraud through his company NineSquare, a Delaware limited partnership which purported to be a hedge fund. Defendant Nguyen is the principal of NGL, a company that helped solicit investors in NineSquare. The two Relief Defendants, Yi Ping Lu, Lam’s wife, and Thy Stacy Nguyen, Nguyen’s wife, purportedly used proceeds from the fraud to pay for luxury homes purchased in their names.
Bain Capital Private Equity has invested in CitiusTech, according to a news release.
CitiusTech, based in Princeton, N.J., is a provider of digital technology and consulting services to payer, provider, medical technology and life sciences companies. Founded in 2005, the company’s key focus areas include healthcare interoperability, data management, quality and performance analytics, value-based…
Cimarron Healthcare Capital and Tacoma Holdings have announced the recapitalization of Frontpoint Health.
Frontpoint is a home health and hospice platform focused primarily on servicing Medicare Advantage patients in the Texas market.
Cimarron, based in Salt Lake City, is a healthcare-focused private equity firm targeting investments in the lower middle market. Founded in 2015, the firm typically invests…
SEC v. JMJ Capital Group and Richard Lee Ramirez is a Securities Exchange Commission (“SEC”) enforcement action filed in the United States District Court for the Southern District of California on September 30, 2022. JMJ Capital Group (“JMJ”) is a California corporation and Richard Lee Ramirez (“Ramirez”) is the owner and sole operator of JMJ…
Veritas Capital has announced the closing of its latest fund, Veritas Capital Fund VIII, with $10.65 billion.
The fund was oversubscribed and exceeded its hard cap of $8.5 billion.
Veritas, based in New York, is a private equity firm that primarily targets technology or technology-enabled solutions for several sectors, including healthcare.
On October 13, 2022, the Board of Governors of the Federal Reserve System (“Board”) announced multiple enforcement actions against former employees of several financial institutions because the former employees made false statements to obtain economic injury disaster loans and grants from the U.S. Small Business Administration (“SBA”) or paycheck protection loans from SBA-approved lenders. The loans and grants were made available to small businesses who were suffering from the impact of COVID-19 and needed emergency financial assistance authorized by the Coronavirus Aid, Relief, and Economic Security (P.L. 116-136, the “CARES Act”).
