Edgemont Partners Signs and Closes 11 Healthcare M&A Transactions Through Q3 2020
Leading Healthcare Investment Bank Delivers Exceptional Client Advisory Outcomes Despite Challenging Market Conditions
NEW YORK, NY – October 7, 2020 – Edgemont Partners (“Edgemont”), a premier healthcare investment bank and a leading M&A and capital raising advisor exclusively serving healthcare companies, announced today record 2020 year-to-date performance. Despite broader market challenges precipitated by the global pandemic, Edgemont’s extensive and deep healthcare industry expertise, combined with its dealmaking acumen and perseverance, produced transaction outcomes that well exceeded expectations, both in the number of transactions and the valuations realized for its clients.
Through the first nine months of 2020, Edgemont signed and closed 11 M&A transactions, including nine since the Covid-19 outbreak began in the U.S. These transactions demonstrate Edgemont’s strength across a broad range of healthcare industry sectors, including Outsourced Pharmaceutical and Medical Device Services, Physician Practice Services, Pharmacy Supply Chain, Post-Acute Services, Payor Services and Behavioral and Mental Health Services. Capitalizing on this success, Edgemont is hiring aggressively to execute on its backlog and support future growth, adding six investment bankers over the last two months.
“We are excited about Edgemont’s momentum and future potential. I am proud of what our team has accomplished so far this year securing valuations and other terms that are on par with and, in most cases, superior to pre-Covid times. We are focused on building the best healthcare M&A advisory team, which embodies our relentless drive to produce exceptional results for our clients through incomparable industry insight and proven transaction expertise. We will continue to expand coverage across the healthcare industry to build on this success,” said David Blume, Edgemont co-founder and Managing Director.
Edgemont co-founder and Managing Director Jeff Swearingen said, “Our performance through the pandemic is a testament to our team’s deep industry insights, tactical skill and determination to excel on our client’s behalf. In many ways, this year has been our most challenging and the fact that we are producing such great outcomes speaks to the strength of our organization and our bankers’ exceptional talent. We are grateful for their teamwork and commitment. We look forward to working together to provide unrivaled healthcare M&A advice and execution as we continue to build a best-in-class independent firm delivering the highest valuations for our clients with the utmost integrity.”
Edgemont’s eight signed and closed transactions during Q3 2020 include:
- In Outsourced Pharmaceutical and Medical Device Services, Edgemont advised NAMSA, the preeminent global medical device Contract Research Organization and the only full continuum CRO in the world focused exclusively on medical devices, in its sale of a majority stake to ArchiMed, an independent international healthcare private equity investment firm. Founded in 1967, NAMSA was the first independent company in the world to focus solely on testing medical device materials for safety. Today, NAMSA offers expert medical device testing, regulatory, reimbursement and quality consulting services, and clinical research support to aid clients at every stage in the medical device development continuum. This suite of services is designed to lower development costs and accelerate regulatory approval and commercialization globally for medical device and in vitro diagnostics technology sponsors. NAMSA, headquartered in Toledo, Ohio, employs approximately 1,000 associates in 11 countries.
- In the Pharmacy Supply Chain vertical, Edgemont advised Paragon Healthcare, a leading provider of ambulatory and home infusion services and specialty pharmacy services in its acquisition by an affiliate of Peak Rock Capital. Paragon has established a reputation for delivering high-quality patient services to patients with chronic health conditions and post-acute care needs with services delivered in lower-cost care settings, including infusion centers, patients’ homes and physician offices. Paragon’s headquarters are located in Dallas, Texas and it operates pharmacy and infusion operations in Alabama, Georgia, Tennessee, Louisiana, Texas, Oklahoma, Colorado, Oregon, and Washington.
- In Post-Acute Services, Edgemont advised Remita Health, backed by SV Health Investors, Petra Capital Partners and Bessemer Ventures, in its sale to Bristol Hospice, the leading hospice services provider in California and a portfolio company of Webster Equity Partners. Headquartered in Irvine, California, Remita Health is a leading regional hospice provider with six locations serving patients across Arizona, California and Nevada.
- In Behavioral and Mental Health Services, Edgemont advised Learning Services in its acquisition by ReMed. Learning Services is known for its work with behaviorally complex participants in their two neuro-behavioral specialty programs in Colorado and North Carolina. In addition, Learning Services recently launched a home and community-based rehabilitation service line in Texas and California.
Edgemont’s closed transactions during the first half of 2020 include:
- In Physician Practice Services, Edgemont advised Quigley Eye Specialists in its recapitalization with New Harbor Capital. Headquartered in Ft. Myers, Florida, Quigley Eye is one of the premier ophthalmology groups in the Southeast. Quigley Eye provides a full range of treatments at its eight clinics and ambulatory surgery center.
- In Physician Practice Services, Edgemont advised Long Island Vitreoretinal Consultants in its recapitalization and the formation of Retina Consultants of America, in partnership with Webster Equity Partners. Long Island Vitreoretinal Consultants is one of the largest and fastest growing providers of treatment services for retina, vitreous and macular diseases in the Northeast.
- In Outsourced Pharmaceutical and Medical Device Services, Edgemont advised ActiGraph, a leading provider of medical-grade physical activity and sleep monitoring solutions for the global scientific community in its recapitalization with ArchiMed, an independent international healthcare private equity investment firm. ActiGraph’s technology and data solutions have pioneered remote patient data collection and solutions for biotech and pharmaceutical companies and the academic research market.
About Edgemont Partners
Now in its 20th year, Edgemont ranks among the most active and best performing independent healthcare M&A and financial advisors in the U.S. We focus solely on providing expert strategic advice and transaction execution to healthcare and life sciences companies, bringing a steadfast commitment to our clients, driven always to prioritize their best interests. Edgemont’s principals have executed 160+ transactions with an aggregate value of $62 billion+.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.