HIG Capital Buys Surgery Partners
Private equity health-care plays have increasingly surfaced on dealmakers’ radar
January 8, 2010
Florida-based private-equity firm HIG Capital will buy Tampa, Fla.-based, privately-held Surgery Partners Holdings.
The PE firm will be taking a majority investment in the ambulatory surgical center operator, which owns and operates 11 centers and several related practice specialties.
HIG completed in 2009 seven deals including acquisitions and recapitalizations. Among them were Coachmen Industries, a homebuilder, and Nations Express, which operates a fleet of trucks. Interestingly, this marks HIG’s first health-care investment in 15 months, despite their being substantial PE activity in the sector.
HIG’s prior investments in the healthcare space include Accupac, a pharmaceuticals packaging manufacturer; AligNetworks, a Florida-based physical therapy provider; APS Healthcare, a specialty care provider; Harvard Drug Group, a pharmaceutical distributor; and PSMI, another Florida-based care provider.
Chris Laitala, managing director of HIG, worked on the deal. Terms were not disclosed and calls seeking comment were not responded to by press time.
Increasingly, private equity has made plays in the health-care space.
Genstar Capital’s Univita Health, a Phoenix-based senior health-care services firm, acquired Atenda Healthcare Solutions as part of its acquisitive model earlier this week. Additionally, Odyssey Investment Partners bought One Call Medical from TA Associates last month. Other recent deals include Francisco Partners buying QuatraMed Corp., a Virginia-based provider of health-care information services.
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