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Lawrence Evans & Co is pleased to announce the successful closing of a $30M Refinance / Growth Capital facility for a Healthcare Revenue Cycle Management (RCM) Platform

Lawrence, Evans & Co., LLC is pleased to announce the successful closing of a refinance and growth acquisition financing for a rapidly expanding healthcare revenue cycle management (RCM) platform.

LECO successfully led the transaction while simultaneously navigating multiple acquisitions across several countries—and the associated overseas legal and regulatory requirements—to support the owner’s non-dilutive refinancing and acquisition line of credit needs.

The transaction was led by Neil Johnson, Managing Partner at Lawrence, Evans & Co., LLC.

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Healthcare News, Deals, and Investments Update July 27th, 2026

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  1. Longshore Capital Partners entered a strategic growth partnership with revenue cycle management provider Prochant. Chicago-based Longshore Capital Partners, a lower middle-market private equity firm that takes control positions in North American services businesses with $5 million to $15 million of EBITDA, invested in Prochant, a Charlotte, North Carolina technology-enabled RCM provider serving home medical equipment, DME, infusion and specialty pharmacy operators. Terms were undisclosed. Capital will fund technology, analytics, AI and automation investment, service capacity expansion, new revenue cycle product development and talent acquisition, alongside acquisitions in core markets. Longshore is backing an existing management team under CEO Joey Graham, preserving leadership and culture while accelerating investment in a recurring-revenue outsourced services model. (Link)
  2. SkyKnight Capital, L.P. agreed to acquire a controlling position in Apex Infusion from FFL Partners, which retains a minority stake alongside the clinician-led management team. SkyKnight Capital, a San Francisco private equity firm, signed a definitive agreement to partner with Apex Infusion, a Signal Hill, California omnichannel infusion services provider founded in 2006. FFL Partners, which completed its investment in 2024, remains a minority shareholder, and Apex’s clinician-led management retains significant ownership and continues to lead the business. Apex delivers therapy through a home infusion nursing network and roughly 40 ambulatory infusion suites. SkyKnight intends to fund new market entry, health system and payor partnerships, and technology-enabled access initiatives across a site-of-care shift thesis. (Link)
  3. Winterbird Partners made a growth investment in Minneapolis-based Microsoft services partner Emergent Software. Winterbird Partners invested in Emergent Software, a Minneapolis, Minnesota Microsoft services partner specializing in data modernization, AI deployment, cloud transformation, application development and managed services. Deal value was not disclosed. Led by CEO Jamie Anderson, Emergent manages solutions across the Microsoft ecosystem including Fabric, Azure, Copilot, Foundry and modern data platforms. Proceeds will fund headcount expansion, additional service capabilities and entry into new geographies. For Winterbird, the transaction is a bet on the durability of enterprise AI and data-platform implementation, backing a founder-led services firm against a single hyperscaler ecosystem rather than horizontal consultancy model. (Link)
  4. Healthcare technology platform Focus entered a definitive agreement to acquire Plano, Texas-based managed technology services company GuideIT. Focus, a Chicago-headquartered healthcare technology services company, agreed to acquire GuideIT, a nationally recognized managed technology services provider offering managed IT, cybersecurity, cloud integration, IT and clinical service desk, and medical data services. Terms were undisclosed; GuideIT will operate as GuideIT, A Focus Company. Focus supports more than 100 electronic health record and practice management systems and is consolidating fragmented healthcare vendor relationships into a single accountable partner. GuideIT CEO and board member Russell Freeman described a deliberate partner selection process. The acquisition scales Focus’s Unified Healthcare Platform thesis through capability breadth rather than geographic density. (Link)
  5. Knox Lane completed its $437 million take-private acquisition of Cross Country Healthcare, Inc. (formerly NASD: CCRN), concurrently selling the locums division to portfolio company All Star Healthcare Solutions. Growth-oriented investment firm Knox Lane closed its all-cash acquisition of Cross Country Healthcare at $13.25 per share, valuing the technology-enabled workforce solutions company at roughly $437 million and ending its NASD listing. The deal follows a terminated agreement with Aya Healthcare. Knox Lane simultaneously moved Cross Country’s locum tenens division into All Star Healthcare Solutions, an existing portfolio company, creating immediate platform consolidation. Managing Partner John Bailey and Partner Shamik Patel cited the company’s position at the intersection of workforce services and technology. Joel Tremblay, formerly of Medical Solutions, was installed as CEO, succeeding co-founder Kevin Clark. (Link)
  6. Care Career acquired MAS Medical Staffing, completing its first acquisition phase and lifting consolidated annual revenue beyond $150 million. Woodbridge, New Jersey-based Care Career, a healthcare workforce technology organization led by CEO Siva Konatham, acquired Manchester, New Hampshire-based MAS Medical Staffing, including its travel, allied and per diem operations and technology assets. Financial terms were undisclosed. This is Care Career’s seventh acquisition in 24 months, following IDR Healthcare in February 2026, Source Medical Staffing in October 2025, and four firms in May 2025. The completed first round now exceeds $150 million of annual revenue, with signed LOIs expected to close in Q3 2026 pushing consolidated revenue past a quarter billion by year-end, aided by MAS’s Maestra workforce platform. (Link)
  7. Equality Asset Management-backed Mindoula acquired Valera Health and Janus Healthcare Partners in a double transaction expanding its whole-person care enablement platform. Mindoula, the Silver Spring, Maryland behavioral health company backed by Equality Asset Management, simultaneously acquired New York-based virtual mental health provider Valera Health and Duxbury, Massachusetts psychiatric collaborative care provider Janus Healthcare Partners. Terms were undisclosed. These are Mindoula’s third and fourth acquisitions since its 2013 founding, following Care at Hand and 180 Health Partners. Valera contributes more than 300 multi-state behavioral providers and specialization in suicide risk reduction, DBT and serious mental illness; Valera had itself raised $74.3 million and acquired Vita Health in 2025. Janus adds psychiatry CoCM capability, positioning Mindoula for value-based contracts with payers and health systems. (Link)
  8. Beacon Behavioral Partners entered Ohio and Michigan through a partnership with Ohio- and Michigan-based Pure Psychiatry, adding a 17-location outpatient platform. Plano, Texas-based Beacon Behavioral Partners, a growing network of independent psychiatric practices, acquired Pure Psychiatry, establishing its first presence in Ohio and Michigan and marking one of its largest expansions to date. Financial terms were undisclosed. Pure Psychiatry, led by founders Taylor Hennrick, PA-C, Sarang Patel, PA-C and Dr. Rakesh Amin, provides psychiatric care across all age groups including medication management for anxiety, depression, ADHD and bipolar disorder. Beacon will supply operational, administrative and strategic support to fund de novo clinic openings and provider recruitment. The deal follows Beacon’s appointment of Rob Jardeleza as CEO roughly a week earlier. (Link)
  9. Truehelm-backed Wildflower Health acquired digital pelvic floor platform Every Mother, marking its entry into direct-to-consumer women’s health. Wildflower Health, the San Francisco tech-enabled women’s health company backed by Truehelm, acquired Every Mother, a clinically validated core and pelvic floor therapy platform founded by Allison Rapaport. Terms were undisclosed. Wildflower operates enterprise infrastructure connecting commercial health plans, risk-bearing provider groups and patients across all 50 states, supporting thousands of women’s health providers. Every Mother contributes HSA/FSA-eligible on-demand exercise programs addressing diastasis recti, urinary incontinence, pelvic organ prolapse and pelvic pain. Strategically, the acquisition adds a consumer subscription revenue channel to an enterprise contracting model and extends patient relationships beyond the traditional six-to-twelve-week postpartum drop-off. (Link)
  10. DuneGlass Capital-backed Aviva Aesthetics expanded into Ohio through a partnership with Avon, Ohio-based Vitality Health. Aviva Aesthetics, the Chicago-based entrepreneur-owned medical aesthetics platform launched in 2024 with healthcare services independent sponsor DuneGlass Capital, partnered with Vitality Health, a medical aesthetics and wellness practice in Avon, Ohio founded in 2014 by Alana Mercer, PA-C. Terms were undisclosed. This is Aviva’s eighth partnership of 2026 and its first Ohio location, deepening Midwest presence. Vitality Health provides injectables, laser treatments, skin rejuvenation, weight management and hormone optimization. Aviva’s Entrepreneur Equity structure explicitly positions against traditional private equity roll-ups, allowing founders to retain full equity and control while accessing scale economics and back-office support. (Link)
  11. PE-backed Premier Care Dental Management acquired cosmetic dentistry practice Brookline Smile Artists in Massachusetts. Premier Care Dental Management, the New Hyde Park, New York dental clinical organization operating under the Dental365 brand and backed by The Jordan Company, added Brookline, Massachusetts-based Brookline Smile Artists to its network. Terms were undisclosed. PCDM supports practices across New York, Connecticut, New Jersey, Pennsylvania, Ohio, New Hampshire, Massachusetts and Rhode Island, and has pursued an acquisition-led growth cadence including multiple Ohio additions earlier in 2026. The tuck-in extends the sponsor-backed platform further into higher-margin cosmetic dentistry, a service line with meaningful cash-pay mix, while continuing the roll-up strategy aimed at retiring and scaling-back owner-dentists across the Northeast. (Link)
  12. Shore Capital Partners-backed Innovate 32 partnered with Houston-based Post Oak Dental, expanding its Texas dental support organization footprint. Innovate 32, the Nashville-based dental services organization formed by Chicago lower middle-market private equity firm Shore Capital Partners, closed a partnership with Post Oak Dental, an established Houston, Texas practice. Terms were undisclosed. Under CEO Josh Johnson and a board combining dentists, multi-site healthcare operators and private equity executives, Innovate 32 has assembled a network across Texas, Tennessee, Florida and the Mid-Atlantic since its 2024 founding. Post Oak Dental retains its clinical focus while gaining management infrastructure. For Shore, the affiliation continues a disciplined buy-and-build in general dentistry, prioritizing clinician alignment and local leadership over transactional roll-up. (Link)
  13. Dentalcorp entered the U.S. market with the acquisition of Florida-based Northstar Dental Partners. Toronto-based Dentalcorp, one of the largest dental support organizations in North America, acquired Northstar Dental Partners, a Boca Raton-headquartered group supporting 21 dental practices across South Florida, the Treasure Coast, Southwest Florida and Central Florida. Founder and CEO Dr. Jordan Tomalty retains an ownership stake and will remain instrumental to continued growth. Combined with Dentalcorp’s Canadian network, the partnership brings the total to over 650 supported practices. (Link)
  14. vybe urgent care acquired Liberty Urgent Care’s Horsham and Hatfield centers, supported by growth-oriented debt financing from Live Oak Bank. vybe urgent care, the leading independent urgent care operator in greater Philadelphia, acquired Liberty Urgent Care’s two Montgomery County, Pennsylvania centers, expanding its network from 16 to 18 sites. Terms were undisclosed. The transaction was funded through a recent growth-oriented refinancing completed with Live Oak Bank, which vybe intends to draw on for further acquisitions and de novo development. Liberty founder Erik Soiferman, D.O. joins as Vice President of Occupational Medicine Services, strengthening vybe’s occupational health and workers’ compensation capabilities. The debt-funded structure allows the independent operator to consolidate a fragmented regional market without an equity sponsor. (Link)
  15. Ares Management Corporation (NYSE: ARES) and Rubicon Founders-backed US Heart & Vascular acquired Tennessee physician-owned practice Apex Vascular and its outpatient center. US Heart & Vascular, the Nashville-area cardiovascular support services platform backed by funds managed by the Private Equity Group of Ares Management (NYSE: ARES) alongside Rubicon Founders, acquired Apex Vascular and Apex Vascular Outpatient Center. Terms were undisclosed. Headquartered in Lenoir City, Tennessee, Apex has served East Tennessee for nearly two decades across Knoxville, Crossville, Harrogate, Decatur, Sevierville and Oak Ridge, treating peripheral artery disease, varicose veins, carotid artery disease and dialysis access. Founder Christopher Pollock, MD cited access to resources for regional expansion. The tuck-in deepens USHV’s density in a specialty prized for recurring outpatient procedure volume. (Link)
  16. Paradigm Oral Health bought back BlackRock, Inc.’s (NYSE: BLK) Long Term Private Capital stake in a surgeon-led transaction backed by a Warburg Pincus-led group including Goldman Sachs (NYSE: GS) Alternatives and Sixth Street. Lincoln, Nebraska-based Paradigm Oral Health repurchased BlackRock Long Term Private Capital’s ownership stake, returning majority control to its surgeons and management. The buyback is funded by a significant investment led by Warburg Pincus, a private partnership since 1966, in partnership with Goldman Sachs (NYSE: GS) Alternatives and Sixth Street. Terms were undisclosed. Founded in 2018 by David Rallis, DDS, MD, Paradigm operates an oral surgery and digital dentistry platform built to attract and retain surgeons. The structure is notable for reversing conventional sponsor control: incoming capital supports clinician majority ownership, technology investment, advanced training and de novo clinic expansion. (Link)
  17. Groups Recover Together acquired Better Life Partners in its first-ever acquisition, doubling its New England patient volume.Burlington, Massachusetts-based Groups Recover Together, the value-based opioid use disorder treatment provider backed by Oak HC/FT, Bessemer Venture Partners, Transformation Capital, RRE Ventures, Optum Ventures and Kaiser Permanente Ventures, acquired Better Life Partners in a transaction that closed March 31. Financial terms were undisclosed. Better Life Partners, founded in Vermont in 2018 and backed by aMoon, Alumni Ventures, F-Prime Capital, Maverick Ventures and .406 Ventures, had raised $26.5 million in a 2023 Series B but experienced financial distress. CEO Cooper Zelnick highlighted mental health and virtual primary care capabilities the company intends to scale nationally beyond New England. (Link)
  18. Ohio-based Cardinal Health (NYSE: CAH) agreed to acquire the Diabetes Health business of AdaptHealth Corp. (NASD: AHCO) and, in its entirety, NMS Capital-backed Strive Medical for approximately $360 million in cash. Cardinal Health (NYSE: CAH), headquartered in Dublin, Ohio, deployed roughly $360 million of cash across two definitive agreements to scale its at-Home Solutions platform, subject to working capital adjustments. The AdaptHealth (NASD: AHCO) unit serves over 225,000 patients annually through a centralized mail-order CGM model, while NMS Capital portfolio company Strive Medical adds urology, wound care, ostomy and incontinence supply distribution to 20,000-plus patients. Both transactions build on Cardinal’s Advanced lDiabetes Supply acquisition and are expected to be accretive to non-GAAP EPS within twelve months of close, extending the Ohio distributor’s consolidation of fragmented direct-to-patient supply channels. (Link)
  19. Surgery Partners, Inc. (NASD: SGRY) agreed to sell its ownership interests in Mountain View Hospital and Idaho Falls Community Hospital to Intermountain Health for approximately $795 million. Surgery Partners (NASD: SGRY), the Brentwood, Tennessee short-stay surgical facility operator, placed into escrow signature pages to sell its Idaho Falls hospital interests to existing partner Intermountain Health, a Utah-based nonprofit system of 34 hospitals and roughly 400 clinics. The transaction values the combined facilities at approximately $1.15 billion, with total consideration to Surgery Partners of about $795 million before purchase price adjustments. Physician ownership of Mountain View Hospital is unchanged. CEO Eric Evans framed the divestiture as portfolio optimization, refocusing capital toward ambulatory surgery centers. The company reaffirmed 2026 revenue guidance of $3.35–$3.45 billion excluding transaction impact. (Link)
  20. Gentherm Incorporated (NASD: THRM) acquired Ohio-based Innovative Medical Equipment, LLC, maker of the ThermaZone thermal therapy device. Gentherm (NASD: THRM), the Novi, Michigan thermal management and pneumatic comfort technology leader, acquired Innovative Medical Equipment, a Cleveland-area, Ohio provider of the ThermaZone non-opioid hot-and-cold thermal therapy system. Terms were undisclosed. Founder and President Brad Pulver framed Gentherm’s scale and global operating footprint as the growth enabler for the Ohio business. Management expects revenue synergies from cross-selling ThermaZone through Gentherm’s expanded healthcare customer channels. Announced alongside record Q2 2026 revenue of $416 million, raised full-year guidance and a new $400 million repurchase authorization, the deal advances Gentherm’s strategic pivot toward higher-margin medical adjacencies. (Link)
  21. RS2 Healthcare Partners, the Boston-based private equity firm formerly known as Riverside Partners, completed an investment in KMM Group, a Hatboro, Pennsylvania-based vertically integrated precision contract manufacturer serving the medical device industry. RS2 Healthcare Partners, founded in 1989 and rebranded from Riverside Partners in May 2026 to formalize an exclusive lower-middle-market healthcare strategy, closed an investment in KMM Group. Terms and stake size were undisclosed. The firm has raised $1.6 billion in total capital commitments since inception and concentrates on pharma services, medical device contract manufacturing and technology-enabled healthcare, supported by healthcare, clinical and AI advisory boards. KMM produces complex, tight-tolerance components for failure-intolerant end markets. J. Mark King joins as President and CEO, while co-founders John Shegda and Eric Wilhelm move to Chief Technology Officer and Executive Vice President, Business Transformation, preserving customer and employee continuity under sponsor ownership. (Link)
  22. Eurofins Scientific (EUFI.PA) agreed to acquire Element Materials Technology’s Life Sciences Testing Services business in North America for an enterprise value of $400 million. Eurofins Scientific, a global leader in bioanalytical testing, reached agreement with Element Materials Technology to acquire its North America Life Sciences Testing Services business, encompassing biopharma product testing, environmental testing and food testing across a network of 27 laboratories and facilities employing approximately 750 FTEs. The business is expected to generate over $150 million in 2026 revenues with profitability in line with the Eurofins Group average. The transaction expands Eurofins’ geographic footprint in key U.S. and Canadian regions where it has been underrepresented and is expected to close in Q4 2026 subject to customary regulatory approvals. (Link)
  23. Repligen Corporation (NASD: RGEN) agreed to acquire BioLife Solutions, Inc. (NASD: BLFS) for a total enterprise value of approximately $1.5 billion. Repligen will acquire BioLife in a cash-and-stock transaction valued at $31.00 per BioLife share ($11.25 cash plus 0.1442 shares of Repligen common stock), representing a 24% premium to the 90-day VWAP. The deal adds BioLife’s market-leading biopreservation media platform (including CryoStor) and cell-processing tools that support 18 commercially approved therapies and the majority of U.S. commercially sponsored cell-based trials. The transaction is expected to be accretive to growth, margins and adjusted EPS (at least 5 cents in year one and 25 cents in year two) with $20–30 million of synergies; closing is targeted for Q4 2026. (Link)
  24. Nordic Capital agreed to sell life sciences software platform ArisGlobal to Dassault Systèmes (Euronext Paris: DSY) for up to $2 billion, marking a full exit for the Swedish sponsor. Nordic Capital, which manages approximately €39 billion, is exiting ArisGlobal entirely in a sale to Dassault Systèmes (Euronext Paris: DSY) reported at $1.8 billion cash plus a $200 million earnout. Nordic first invested in 2019 via its ninth fund at a reported $700 million enterprise value and added to its stake in 2021. Under Nordic’s ownership the Waltham, Massachusetts company converted to SaaS, completed two bolt-ons and is expected to generate roughly $175 million of 2026 revenue, processing 12 million safety cases annually for 200-plus customers. Closing is expected in the second half of 2026. (Link)
  25. Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) entered a definitive agreement to acquire certain cannabis cultivation, manufacturing and retail assets of The Cannabist Company Holdings Inc. across five markets for up to $35 million. Vireo Growth, through subsidiary Vireo Health of Arcadia, agreed to acquire selected operations from Cannabist subsidiaries in Colorado, Illinois, Massachusetts, New Jersey and West Virginia for total consideration of up to US$35 million (up to US$18.75 million cash at closing plus up to US$16.25 million in seller notes), subject to adjustments and regulatory approvals. The staged transaction is expected to add up to 25 dispensaries plus cultivation and production assets, deepening Vireo’s Colorado presence and adding four new states. Closing is targeted through 2026 into 2027 amid Cannabist’s CCAA and Chapter 15 proceedings. (Link)
  26. Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) agreed to acquire Planet 13 Holdings Inc. (CSE: PLTH; OTCQX: PLNH) in an all-share merger. Vireo Growth entered a definitive merger agreement to acquire all outstanding equity of Planet 13, with each Planet 13 share converting into 0.015383618 of a Vireo subordinate voting share (16.6% premium to the 20-day VWAP and 24% premium to the closing price as of July 24, 2026). The transaction deepens Vireo’s Nevada and Florida footprints (adding the flagship Las Vegas superstore, additional dispensaries, cultivation/production capacity and licenses) and adds a Waukegan, Illinois dispensary. On a pro forma basis with prior announced deals, Vireo expects to operate approximately 265 dispensaries across 15 states. Closing is subject to stockholder, regulatory and listing approvals. (Link)
  27. First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) and Westin Acquisition Corp. (NASD: WSTN) announced a definitive business combination agreement to create a publicly traded healthcare and wellness company. The transaction values First Choice at a pro forma enterprise value of approximately $650 million and is expected to accelerate its strategic rebrand to Wellgevity 360, a platform focused on longevity, preventative care and personalized biology-driven solutions. Westin will domesticate and the combined company is expected to trade on NASD. Closing is targeted for Q4 2026 subject to customary approvals and conditions. (Link)
  28. Avanos Medical, Inc. (NYSE: AVNS) stockholders approved the company’s $25.00-per-share take-private by American Industrial Partners, valuing the medtech at roughly $1.272 billion. Avanos Medical (NYSE: AVNS) shareholders voted overwhelmingly in favor of the acquisition by affiliates of funds advised by American Industrial Partners, with approximately 99.75% of shares voted supporting the merger, representing about 74.96% of shares outstanding as of the June 18 record date. Holders receive $25.00 per share in cash, an enterprise value near $1.272 billion and a 72.1% premium to the pre-announcement close, plus an 82.8% premium to the 30-day VWAP. All regulatory approvals had been obtained, with closing expected no later than July 27, 2026. The operationally focused industrials investor takes Avanos private, delisting from the NYSE. (Link)
  29. Royalty Pharma plc (NASD: RPRX) acquired a portion of Neurimmune’s royalty interest in cliramitug for up to $425 million. Royalty Pharma (NASD: RPRX) committed up to $425 million to Zurich-based Neurimmune in exchange for a 3% to 4% royalty on worldwide net sales of cliramitug, an investigational anti-amyloid antibody for ATTR cardiomyopathy. The structure front-loads $125 million upfront, with a further $125 million payable in Q1 2027 and $175 million tied to clinical and regulatory milestones. Cliramitug is licensed globally to Alexion, AstraZeneca Rare Disease, which is running the Phase 3 DepleTTR-CM trial. For Royalty Pharma, the transaction buys exposure to the rapidly growing ATTR-CM market; for Neurimmune, it is non-dilutive capital funding its internal pipeline. (Link)
  30. Aurobindo Pharma Limited (NSE: AUROPHARMA; BSE: 524804), through wholly owned subsidiary Apitoria Pharma Private Limited, agreed to acquire 80% ownership control of A1 Biochem Labs (India) Private Limited and A1 Biochem Labs LLC, USA at a $17 million enterprise value. Aurobindo Pharma (NSE: AUROPHARMA; BSE: 524804) is deploying $13.6 million in cash through Apitoria Pharma for an 80% interest in A1 Biochem Group’s contract research business, struck at a $17 million enterprise value on a debt-free, cash-free basis, subject to closing adjustments. The existing promoter retains 20%, and A1 Biochem Labs (India) will absorb A1 Biochem Labs LLC and the CRO business of A1 Biochem Research (India). The target posted FY26 turnover of ₹1,024.42 million and EBITDA of ₹465.46 million — a 45% margin — across Wilmington and Hyderabad labs with 90-plus scientists. Aurobindo is building an integrated CRDMO platform across the API value chain; closing is expected in 90 to 120 days. (Link)
  31. Scancell Holdings plc (AIM: SCLP) and Neuphoria Therapeutics Inc. (NASD: NEUP) announced an all-share merger agreement and associated financing. Scancell will acquire Neuphoria in an all-share transaction; the combined company will operate as Scancell, list on NASD (in addition to AIM) and advance a pipeline of targeted, off-the-shelf active immunotherapies, led by iSCIB1+ in advanced melanoma. Existing Scancell shareholders are expected to own approximately 85.5% and Neuphoria shareholders 14.5% on a pro forma basis (before financing). Concurrent financing of up to $89 million (equity and debt) is intended to fund the global registrational Phase 3 trial. Closing is targeted for late Q4 2026 subject to shareholder and regulatory approvals. (Link)
  32. Footbridge Partners and ALZA Capital Partners sold Ohio-, Pennsylvania- and Michigan-based medical spa platform The Skin Center to an undisclosed middle-market healthcare private equity fund. Footbridge Partners and ALZA Capital Partners exited The Skin Center, a medical spa and cosmetic surgery platform operating 14 locations across Pennsylvania, Ohio and Michigan, selling to an unnamed middle-market healthcare private equity fund in a recapitalization. Terms were undisclosed. Founded in 1981 by Jerry and Dominic Brandy, the company delivers neurotoxins, dermal fillers, laser skin resurfacing, laser hair removal and cosmetic surgery under CEO Eric Warden. Footbridge co-founder and Managing Partner David Rosner credited management and providers for the outcome. The incoming sponsor inherits a platform positioned for de novo openings and further M&A across the consolidating medical aesthetics market. (Link)

Venture Deals and Other

  1. MannKind Corporation (NASD: MNKD) raised approximately $50 million in a private placement led by Frazier Life Sciences. MannKind (NASD: MNKD) closed a roughly $50 million private placement with institutional investors, led by longstanding biotech investor Frazier Life Sciences. The company sold 10,440,838 common shares at $3.89 and pre-funded warrants for 2,412,632 shares at $3.88, with a $0.01 exercise price and no expiry. Proceeds fund general corporate purposes including a $45 million contingent value rights payment triggered by the FDA’s July 23, 2026 approval of Furoscix ReadyFlow for edema in heart failure and chronic kidney disease patients. (Link)
  2. Insight Partners led a $19 million Series A in AI-native provider credentialing platform Assured, with participation from First Round Capital and Kindred Ventures. Insight Partners led Assured’s $19 million Series A, joined by existing backers First Round Capital and Kindred Ventures, bringing total capital raised to $25 million following a $6 million seed in September 2025. Insight Managing Director Teddie Wardi articulated the thesis directly: incumbent credentialing tools function as systems of record while Assured’s agents perform the work itself, verifying data against more than 2,000 primary sources and cutting credentialing time by 30%. Launched in 2024, the NCQA-certified CVO serves over 100 organizations including Houston Methodist. Proceeds expand R&D and go-to-market teams ahead of a privileging product in early 2027. (Link)
  3. Brevy Care raised $4.77 million with participation from GreyMatter Capital to expand Medicaid reimbursement software for family caregivers. Brevy Care, a developer of software helping family caregivers access Medicaid reimbursements, raised $4.77 million in a round including San Francisco-based GreyMatter Capital, a mental and behavioral health-focused venture firm founded in 2021 that typically writes first checks of $250,000 to $1.2 million. The financing brings Brevy’s total capital raised to $4.92 million. GreyMatter’s thesis centers on early-stage innovation in behavioral healthcare delivery and adjacent care-navigation infrastructure. For investors, Brevy addresses a reimbursement-access gap in self-directed Medicaid programs, a payer-funded and demographically supported category as aging populations shift care burden toward unpaid family members. (Link)
  4. Sixth Street Growth led a $120 million Series D in autonomous revenue cycle management platform Candid Health, with participation from Oak HC/FT, 8VC and Y Combinator. Candid Health raised $120 million led by Sixth Street Growth, the dedicated growth platform of Sixth Street, which manages over $135 billion and has invested more than $13 billion across 90-plus companies. Oak HC/FT, 8VC and Y Combinator participated. The round marks a 3x valuation increase over the February 2025 Series C led by Oak HC/FT. Managing Director Alex Katz cited diligence calls with nearly 40 customers and proof points applying agentic AI at scale. Candid reported 190% year-over-year annual contracted run-rate growth and 180% net dollar retention in 2025, targeting the $280 billion US RCM spend. (Link)
  5. Innovation Endeavors and Xora co-led a $21 million Series A in sensor developer Elio, with participation from Kevin Weil, Scribble VC, UpWest and Resolute Ventures. Elio, a Silicon Valley and Israel-based company building sensors designed for artificial intelligence rather than human vision, raised $21 million co-led by Innovation Endeavors and Xora. Kevin Weil and Scribble VC participated, alongside existing investors UpWest and Resolute Ventures, who led the prior round. Total funding reaches $29 million. Founded by former Meta AR/VR executives, Elio embeds computation directly into optics using dynamic micromirror layers that behave like a neural network, letting AI decide what to capture in real time. Investors are backing applications spanning microscopy, semiconductor inspection, robotics and defense drone detection. (Link)
  6. 7wire Ventures and Allumia Ventures co-led an oversubscribed $16.2 million Series A in Karoo Health, joined by First Trust Capital Partners, SpringRock Ventures and Hyde Park Angels. Karoo Health, an Albuquerque, New Mexico cardiovascular technology company led by CEO Ian Koons, closed a $16.2 million oversubscribed Series A co-led by 7wire Ventures and Allumia Ventures, with First Trust Capital Partners, SpringRock Ventures and Hyde Park Angels participating. Managing Partners Lee Shapiro of 7wire and Jeff Stolte of Allumia join the board. Deployed programs have produced independently analyzed reductions exceeding 40% in emergency department visits and inpatient admissions, plus a greater than 10% total cost of care reduction. Karoo supports 600-plus cardiology providers across 11 states; proceeds fund predictive models and health plan expansion. (Link)
  7. FUSE led a $16 million financing in AI-powered concierge primary care platform Prosper Medical, with participation from Aurum Partners, Better.vc, Cal Innovation Fund, Fluent, Latitude Capital, Knoll Ventures and WTI. Prosper Medical, a San Francisco company founded in 2026 by CEO Ryan McQuaid and CMO James Wantuck, MD, raised $16 million led by FUSE alongside Aurum Partners, Better.vc, Cal Innovation Fund, Fluent, Latitude Capital, Knoll Ventures and Western Technology Investment. Investors are backing repeat founders who previously built PlushCare and sold it to Accolade for $450 million. Unlike cash-pay concierge peers, Prosper is in-network with major insurance plans across all 50 states at a $69 monthly membership, using an AI care layer for longitudinal data aggregation and referral coordination. Proceeds expand the physician network and enter new markets. (Link)
  8. Decathlon Capital Partners provided a non-dilutive growth-debt investment to value-based care technology company Health Endeavors. Decathlon Capital Partners, a growth-debt provider with offices in Palo Alto and Park City, made a strategic investment in Health Endeavors, a Farmington, Utah technology partner to Accountable Care Organizations. Deal size was undisclosed, but the structure requires no dilution of existing shareholders. Managing Director Matt Hoffman framed the investment as conviction in value-based care economics. Health Endeavors serves over 2 million patients with 16-plus years of ACO experience and partnerships with Novant Health and Providence. Decathlon targets companies with $4 million to $100 million revenue, 10%-plus growth and near-term visibility to cash-flow-positive status, avoiding equity dilution and loss of control. (Link)
  9. Vensana Capital and Ohio-based Mutual Capital Partners co-led a $30 million Series A in TYBR Health, with participation from Neovate Capital Partners and existing investors. TYBR Health, a Houston, Texas orthopedic biologics company co-founded and led by CEO Tim Keane, PhD, raised $30 million in Series A financing co-led by Vensana Capital and Mutual Capital Partners, the Cleveland, Ohio venture firm managed by Bill Trainor and Wayne Wallace that invests exclusively in Midwest healthcare IT and medical device companies. Proceeds expand commercial access to the FDA-cleared B3 GEL System, a flowable extracellular matrix hydrogel, broaden indications and fund clinical studies on tissue protection during orthopedic surgery. (Link)

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Healthcare News, Deals, and Investments Update July 20th, 2026

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Healthcare Weekly News and Deals – 20 July, 2026

  1. PE-backed Ridgemont Equity Partners and Coogee Bay Partners Acquire Ohio-based Caring Transitions. Ridgemont Equity Partners, a Charlotte-based middle-market private equity firm, and Coogee Bay Partners (digital-marketplace operators Joshua Ellstein and Michael Felman) acquired Caring Transitions, a Cincinnati, Ohio-based nationwide franchise network providing senior move management, downsizing, estate-sale and home-cleanout services through its CTBids digital marketplace. Terms were undisclosed. Ellstein and Felman become Co-Executive Chairmen alongside President Joe Lewandowski. Founded in 2006, the Ohio company operates more than 300 franchise locations. The sponsors plan to scale and modernize the CTBids platform to capture liquidity from an aging population downsizing its households, blending Ridgemont’s buyout capital with Coogee Bay’s marketplace-operating expertise. (Link)
  2. Great Point Partners-backed VetnCare acquired Holistic Veterinary Care. VetnCare, a Northern California veterinary hospital group backed by Greenwich-based healthcare private equity firm Great Point Partners, acquired Holistic Veterinary Care, an Oakland practice specializing in integrative and rehabilitative animal medicine founded in 2009. Terms were undisclosed. The deal is VetnCare’s sixth add-on since Great Point’s investment and the first under CEO Matt Kirchner; founder Dr. Gary Richter stays on as Clinical Director. Great Point Partners, founded in 2003 with roughly 30 professionals, backs a buy-and-build strategy that has more than doubled VetnCare over three years while preserving local clinical leadership. The tuck-in extends the platform into alternative and rehabilitative care rather than simply adding locations. (Link)
  3. HCAP Partners / Hamilton Lane (Nasdaq: HLNE)-backed PAX Health acquired independent medical examination provider MAKRAF IME. PAX Health, a behavioral health company backed by HCAP Partners and funds managed by Hamilton Lane (Nasdaq: HLNE), acquired MAKRAF IME, a New Jersey statewide psychology and neuropsychology independent medical examination group serving 17 counties. Terms were undisclosed. The deal is PAX Health’s fourth acquisition since its March 2024 founding and expands its medical-legal evaluation platform for insurers, employers, attorneys and state agencies. MAKRAF’s licensed examiners deliver opinions on causality, permanency and fitness-for-duty. For its sponsors, the tuck-in advances a buy-and-build strategy in behavioral health, adding a complementary IME capability with an established statewide referral network to the Red Bank-based platform. (Link)
  4. Morgan Stanley/TPG-backed Guardian Dentistry Partners acquires Majority Stake in Select Dental Management. Guardian Dentistry Partners (GDP), a dental partnership organization capitalized by Morgan Stanley Private Credit, TPG Twin Brook and Prudential, agreed to a majority acquisition of Select Dental Management (SDM), adding 38 locations, 130 dentists and 720 team members across eight Northeastern states and Washington, D.C. SDM grew EBITDA 115% between 2022 and 2024 at roughly 20% practice-level margins. The deal, expected to close before the end of Q3 2026, significantly expands GDP’s geographic reach and reinforces its equity-ownership, dentist-partnership model. For its sponsors, the transaction scales a differentiated DPO platform through affiliation rather than transactional roll-up, prioritizing clinician retention and alignment. (Link)
  5. Family Capital Kaltroco acquired school-based mobile dental provider Smile America Partners from private equity firm Beach Point Capital Management. Kaltroco, a family-owned private investment company with offices in Nashville, Zurich and Cape Town, acquired Smile America Partners, the largest U.S. school-based mobile dental program, from seller Beach Point Capital Management. Terms were undisclosed, though the Farmington Hills, Michigan-based DSO generates roughly $20 million EBITDA on about $100 million revenue. Beach Point had bought majority control in January 2023 from Morgan Stanley Capital Partners. Smile America served over 370,000 children across 8,000-plus schools in 20 states in 2025. Kaltroco, which invests family capital with no outside LPs, backs continued expansion of pediatric dental access under existing CEO Steve Higginbotham. (Link)
  6. Hidden Harbor Capital Partners’ portfolio company Inspire Aesthetics partnered with Colorado-based Millard Plastic Surgery. Inspire Aesthetics, the plastic-surgery management services organization backed by lower-middle-market private equity firm Hidden Harbor Capital Partners, formed a strategic partnership with Millard Plastic Surgery, a Denver/Englewood, Colorado provider founded by Dr. John Millard and supported by four plastic surgeons. Terms were undisclosed. The affiliation extends Inspire’s national roll-up of premium aesthetic practices while preserving physician-led clinical decision-making. For Hidden Harbor, adding a well-regarded Colorado platform advances its buy-and-build thesis in high-end plastic surgery, layering operational resources onto a two-decade-old brand. The deal deepens Inspire’s geographic footprint in the Mountain West as sponsors continue consolidating the fragmented medical-aesthetics market. (Link)
  7. Macquarie Asset Management-backed Health Wave Partners acquired Alamar Senior Living from sellers Walton Street and Scarp Ridge Capital Partners. Health Wave Partners, a Chicago-based senior-housing investment platform backed by a strategic partnership with Macquarie Asset Management, acquired Alamar Senior Living, a 134-unit Class A assisted living and memory care community in Wellington, Florida. The seller was a partnership between Walton Street and Scarp Ridge Capital Partners. Terms were undisclosed. Built in 2018 and 96% occupied after a 2025 renovation, Alamar will continue under operator AgeWell Senior Living. The acquisition expands Health Wave’s presence in South Florida’s demographically favorable senior-housing market, reflecting its strategy of pairing high-quality communities with best-in-class operators to capture demand from an aging population. (Link)
  8. Ascension-owned AMSURG, acquired five North Carolina gastroenterology and endoscopy centers to expand its ambulatory surgery platform. AMSURG, one of the largest U.S. ambulatory surgery center operators with more than 250 centers and now part of Ascension following its roughly $3.9 billion take-private, added five North Carolina centers spanning the state’s eastern and central regions. Terms were undisclosed. The acquired centers bring 15 board-certified gastroenterologists and hepatologists offering colonoscopy, endoscopy and capsule imaging. The tuck-in reflects AMSURG’s continued buy-and-build consolidation of physician-aligned GI assets, deepening regional density in a specialty prized for recurring, outpatient procedure volume. The deal underscores how scaled ASC platforms keep absorbing community practices to strengthen payer positioning and geographic coverage. (Link)
  9. Brookdale Senior Living Inc. (NYSE: BKD) acquired the previously managed Brookdale Galleria community in Houston for $23.4 million. Brookdale Senior Living (NYSE: BKD), the largest U.S. senior-living operator with 541 communities, completed the $23.4 million acquisition of the 244-unit Brookdale Galleria independent and assisted living community in Houston’s affluent Galleria district. Management framed the price as a substantial discount to replacement cost, funding the deal with cash on hand and an expanded line of credit rather than equity issuance. With occupancy below Brookdale’s consolidated average, the company plans a repositioning through modest development capex to capture upside that accrues directly to shareholders. The purchase converts a managed asset into owned real estate in a strategically important market. (Link)
  10. Family-owned Family Hospice acquired North Georgia Community Hospice, LLC to complete its northwest Georgia footprint. Family Hospice, a family-owned, locally operated palliative and hospice provider founded in January 2022 and serving 13 locations across Georgia and South Carolina, completed its acquisition of North Georgia Community Hospice, a Dalton-based provider serving northwest Georgia. Terms were undisclosed. Backed by the nonprofit Family Hospice Foundation, the buyer positioned the deal as extending its full continuum of hospice and palliative services—including additional clinical and bereavement resources—into the region. The transaction reflects steady consolidation among community hospice operators pursuing regional density in a market shaped by favorable senior demographics and rising home-based, end-of-life care utilization across the Southeast. (Link)
  11. Physician-led Summit Spine & Joint Centers acquired Southeast Neurology & Pain Management (SNPM), its third acquisition in three years. Summit Spine & Joint Centers, a physician-led minimally invasive spine and interventional pain platform led by founder-CEO Dr. Amit Patel, acquired Southeast Neurology & Pain Management, adding clinics in Thomasville, Georgia and Tallahassee and Panama City, Florida. Terms were undisclosed. The deal—Summit’s third practice acquisition in three years—lifts its network to 55 clinics and 21 ambulatory surgery centers across Georgia, Florida, North Carolina, South Carolina and Tennessee. The acquisition advances Summit’s strategy of partnering with established physician-led pain practices while preserving local clinical leadership, building regional density in interventional pain as demand for minimally invasive treatment grows across the Southeast. (Link)
  12. Tempus AI, Inc. (NASDAQ: TEM) agreed to acquire Personalis, Inc. (Nasdaq: PSNL) for $16.25 per share, an enterprise value of roughly $1.5 billion. o prTempus AI (NASDAQ: TEM) agreed to acquire Personalis (Nasdaq: PSNL) at $16.25 per share—about $1.5 billion enterprise value net of Tempus’ existing stake—a 6% premium to Friday’s close and 28% to the unaffected 30-day VWAP. The primarily all-stock deal uses a floating exchange ratio capped at 0.3356, with Tempus able to elect up to 50% cash. It builds on a November 2023 partnership in which Tempus invested in Personalis and commercializes its ultrasensitive NeXT Personal MRD test. Tempus is buying deeper into the roughly $20 billion molecular residual disease market, integrating tumor-informed cancer monitoring across its AI-enabled precision-oncology platform; closing is expected late 2026 or early 2027. (Link)
  13. BrainsWay Ltd. (NASDAQ/TASE: BWAoY) made a $500,000 minority preferred-equity investment in outpatient behavioral health platform Sound Minds Behavioral. BrainsWay (NASDAQ/TASE: BWAY), a neurostimulation medtech company, took a minority position in Sound Minds Behavioral through a preferred, annually compounding security, deploying $500,000 as part of a strategic equity financing round. The structure mirrors BrainsWay’s playbook of supplying growth capital to expanding interventional-psychiatry providers while retaining focus on its core Deep TMS technology. Sound Minds operates outpatient mental-health clinics across Connecticut, Pennsylvania, New Jersey and New York, offering therapy, medication management, PHP/IOP and interventional psychiatry. For BrainsWay, the minority-stake model expands its distribution reach and aligns a growth-oriented partner with its device platform without diluting its clinical and scientific priorities. (Link)ot
  14. IPG Photonics Corporation (NASDAQ: IPGP) entered a binding offer to acquire Lumibird Medical from Lumibird SA for €300 million plus a €50 million earn-out. IPG Photonics (NASDAQ: IPGP) agreed to acquire Lumibird Medical for €300 million on a cash-free, debt-free basis, plus up to €50 million contingent on 2026–2027 performance, funding the purchase with cash on hand. France-based Lumibird Medical, whose brands include Quantel Medical, Ellex and Optotek Medical, posted FY2025 revenue of €112.2 million and EBITDA of €24.1 million (21.5% margin). IPG expects the high-margin ophthalmology-and-urology laser business to be accretive to gross margin, EBITDA and adjusted EPS in year one, lifting Advanced Solutions to roughly 26% of sales and adding about $1 billion of addressable market to its medical-laser growth platform. (Link)
  15. PE-backed Raintree acquired agentic-AI voice developer Spike Technologies to advance autonomous revenue-cycle management. Raintree, the leading EHR and practice-management platform for rehabilitation and physical-therapy organizations, acquired San Francisco-based Spike Technologies, a developer of agentic AI voice technology founded in 2022. Terms were undisclosed. The acquisition embeds AI voice agents natively into Raintree’s EMR to automate payer calls, claim follow-ups, eligibility, prior authorization and patient outreach—work that consumes front-desk staff amid roughly 13% claim-denial rates. Management framed the deal as a foundational step toward fully autonomous RCM. Strategically, Raintree is betting that native, context-aware automation—rather than bolted-on chatbots—will compress administrative cost and differentiate its platform in a large, labor-intensive workflow market. (Link)
  16. JLL Partners recapitalized life-sciences services firm CAI. JLL Partners, a New York-based middle-market private equity firm focused on healthcare, industrials and business services, closed a recapitalization of CAI, an Indianapolis-based professional services firm providing commissioning, qualification and validation (CQV) and operational-readiness services to life-sciences and mission-critical customers. Terms were undisclosed; the transaction closed July 1. CAI’s 700-plus professionals operate across North America, Europe, Australia and Asia. JLL Partners, which has deployed roughly $9 billion of equity across 61 platform investments since 1988, aims to accelerate CAI’s global expansion, technology investment and service-line growth—another example of a specialist sponsor backing scaled pharma-services platforms serving highly regulated environments. (Link)
  17. Lyric acquired precision payment-accuracy company Concert to expand its Lyric42 healthcare decision-intelligence platform. Lyric, a Philadelphia-based leader in healthcare decision intelligence for payment accuracy, acquired Concert, a precision-health payment-accuracy company whose proprietary technology translates machine-readable clinical policies into real-time claims decisions. Terms were undisclosed. The acquisition builds on a commercial partnership begun in 2023, during which the pair’s shared diagnostics solution grew nearly tenfold. Lyric, which supports roughly 200 million lives and nine of the top ten U.S. health plans, will embed Concert’s policy intelligence into its AI-powered Lyric42 platform. Strategically, the deal shifts payment integrity toward shared, machine-readable policy standards as genetic testing and specialty therapies reshape plan cost management. (Link)
  18. Warburg Pincus acquired Indian pharmaceuticals company Integrace Private Limited from sellers True North and Temasek. Warburg Pincus, the global growth-investing firm, acquired Integrace Private Limited, an India-based orthopedics- and gynecology-focused pharmaceutical formulations company, from exiting investors True North and Temasek in a deal reported at around ₹1,200 crore (terms officially undisclosed). Integrace holds 20-plus brands—including Lizolid, Stiloz, Mifegest and Cytolog—and relationships with over 45,000 healthcare professionals through science-led marketing. Industry veteran Rehan Khan, formerly of MSD and Abbott India, joins as CEO. Warburg Pincus, active in Indian healthcare for three decades, is betting on building a scaled, therapy-focused branded formulations platform via consolidation in women’s health and orthopedics, backed by predictable chronic-care demand. (Link)
  19. Verdane acquired stakes in four Trifork Labs technology businesses—Axoniq, Dawn Health, Frameo and XCI—from publicly listed Trifork Group (Nasdaq Copenhagen: TRIFOR). Verdane, the Oslo-based specialist growth investor, acquired ownership stakes in four Trifork Labs companies—event-sourcing pioneer Axoniq, patient-centric digital-health business Dawn Health, WiFi photo-frame software provider Frameo, and cybersecurity firm XCI—from Trifork Group (Nasdaq Copenhagen: TRIFOR). Investing via its Freya funds, Verdane acquired 52% of the four companies’ combined €43.6 million book value, paying Trifork €22.8 million cash plus uncapped earnouts; three stakes will be co-owned with Trifork while XCI was fully acquired. Verdane will deploy operational advisors across go-to-market, data, finance and talent, with the digital-health asset Dawn Health anchoring the healthcare relevance of this growth-stage portfolio transaction. (Link)
  20. Avathon Capital-backed Summit Professional Education acquired pediatric pelvic-health educator Kids Bowel & Bladder. Summit Professional Education, a Franklin, Tennessee continuing-education provider backed by Avathon Capital, acquired Kids Bowel & Bladder (KBB), the leading U.S. continuing-education organization for pediatric pelvic health, founded by Dawn Sandalcidi. Terms were undisclosed. The deal extends Summit’s already-strong pelvic-health franchise into pediatric specialty care, adding on-demand and live courses plus a Certificate in Pediatric Pelvic Health. Summit—whose portfolio includes Herman & Wallace Pelvic Rehabilitation Institute, PT Final Exam, the National Federation of Personal Trainers and The Knowledge Tree—has educated over 400,000 clinicians. (Link)
  21. Avera Health (Non Profit Health System) acquired physician-owned multispecialty group The Center for Neurosciences, Orthopaedics & Spine (CNOS). Avera Health, a Sioux Falls-based nonprofit health system, acquired The Center for Neurosciences, Orthopaedics & Spine (CNOS), a physician-owned multispecialty group headquartered in Dakota Dunes, South Dakota. Terms were undisclosed. The deal brings more than 100 physicians and advanced-practice providers plus over 350 staff across nine specialties—including orthopedics, neurosurgery, neurology and gastroenterology—and eight clinic locations into Avera, effective January 1, 2027, when the group becomes Avera CNOS. Building on an existing referral relationship across the South Dakota–Iowa–Nebraska Siouxland region, the acquisition reflects continued health-system consolidation of independent specialty groups to strengthen regional care continuity, employed-physician scale and integrated delivery across a tri-state footprint. (Link)
  22. Zoetis Inc. (NYSE: ZTS) agreed to acquire veterinary teleradiology platform VitalRADS. Zoetis (NYSE: ZTS), the world’s largest animal-health company, agreed to acquire VitalRADS, a veterinary teleradiology services platform, building on a partnership the two announced in August 2025. Terms were undisclosed; closing is expected in Q3 2026. VitalRADS provides cloud-based teleradiology, mobile ultrasound, outpatient imaging and cloud image storage, giving practices around-the-clock access to board-certified specialists across 25-plus species with two-hour STAT reads. Folding VitalRADS into its Global Diagnostics portfolio advances Zoetis’ build-out of an end-to-end Virtual Reference Lab with AI-assisted reporting. Strategically, the deal deepens the animal-health leader’s higher-growth diagnostics and imaging franchise, layering recurring specialist services onto its reference-laboratory network. (Link)
  23. Lōkahi Therapeutics completed a strategic business combination with Glucotrack, Inc. (Nasdaq: GCTK), taking control of the public company. Glucotrack (Nasdaq: GCTK) completed a strategic business combination with Lōkahi Therapeutics, a capital-efficient biopharmaceutical platform that acquires and advances overlooked therapeutic assets via its ai² sourcing model. Lōkahi becomes the operating and controlling business, using Glucotrack’s public listing as a capital-efficient platform; upon stockholder approvals and preferred-stock conversion, Lōkahi securityholders will hold roughly 90% of the combined company on a fully diluted basis. A planned private placement is intended to strengthen the capital structure. Glucotrack’s legacy continuous blood glucose monitoring business will operate as a wholly owned subsidiary. The reverse-merger structure gives Lōkahi public-market access to pursue a repeatable, acquisitive pipeline strategy. (Link)
  24. Johnson & Johnson’s (NYSE: JNJ) DePuy Synthes acquired spine-implant maker Expanding Innovations, Inc. DePuy Synthes, the orthopedics business of Johnson & Johnson (NYSE: JNJ), acquired Expanding Innovations, a Mountain View, California commercial-stage medtech company specializing in expandable interbody cage technology for spine surgery. Terms were undisclosed. Expanding Innovations’ non-screw-based X-PAC portfolio—covering TLIF and LLIF expandable cages and a lumbar plate system—will complement DePuy Synthes’ TriALTIS Spine System and integrate into its VELYS enabling-tech platform. The deal strengthens J&J’s position in the fast-growing expandable interbody cage segment of the lumbar-fusion market. Strategically, it deepens the medtech giant’s spine portfolio and innovation pipeline as it competes for surgeon adoption in higher-growth orthopedic categories. (Link)
  25. Eli Lilly and Company (NYSE: LLY) agreed to acquire psychedelics developer AtaiBeckley Inc. (Nasdaq: ATAI) for up to $3.8 billion. Eli Lilly (NYSE: LLY) agreed to acquire AtaiBeckley (Nasdaq: ATAI), a New York clinical-stage biotech developing psychedelic-based mental-health therapies, for $6.75 per share in cash—about $2.8 billion upfront and a 26% premium—plus contingent value rights worth up to $2.50 per share (roughly $1 billion), for total potential value near $3.8 billion. AtaiBeckley’s lead candidate, BPL-003, is an intranasal 5-MeO-DMT formulation for treatment-resistant depression. Expected to close in Q3 2026 pending stockholder and regulatory approval, the deal extends Lilly’s cash-fueled acquisition spree beyond obesity and diabetes, bolstering its neuroscience pipeline and validating big pharma’s growing conviction in psychedelic medicine. (Link)

Venture Deals and Other

  1. Index Ventures-led (VC-backed) Chai Discovery Raises $400M Series C. Chai Discovery raised a $400 million Series C led by Index Ventures alongside Kleiner Perkins, Sequoia Capital and Dimension, with new investors including Bain Capital Ventures, Battery Ventures, Baillie Gifford, BDT & MSD and Sapphire Ventures, plus returning backers Thrive Capital, OpenAI, Oak HC/FT, Menlo Ventures and General Catalyst. The round values the AI molecular-design company at $3.8 billion. Investors cited Chai’s rapid product velocity and commercial traction—its models are already deployed at large pharmaceutical partners—as the thesis. The capital accelerates development of Chai’s generative models for de novo antibody and molecule design targeting historically “undruggable” biology. (Link)
  2. Oak HC/FT-led (VC-backed) Corner Health Raises $32.5M Seed + Series A. Corner Health raised $32.5 million across Seed and Series A financing, with its Series A led by Oak HC/FT and participation from First Round Capital and Zigg Capital, alongside earlier backers Homebrew, Pathlight Ventures, Wischoff Ventures and Go Global Ventures. Oak HC/FT, a fintech-and-healthcare specialist managing over $7 billion, framed the primary-care shortage as an infrastructure problem its AI-native operating system, Cora, is built to solve. Corner Health equips nurse practitioners to launch independent practices, having scaled to 70-plus provider-owned clinics and 35,000 patient visits. The capital funds team growth, platform development and multi-state expansion of its clinician-ownership model. (Link)
  3. Lux Capital/VC-backed SONATA Launches Doctor-led Preventive-Health Membership. SONATA launched its physician-led, prevention-focused healthcare membership in New York, San Francisco and Los Angeles, backed by Lux Capital, Box Group, Sunflower Capital and operators from companies including Linear and Ramp. Round size was not disclosed. Co-founded by Sagan Schultz (ex-Linear, McKinsey) and David Deng (ex-Ramp, Flatiron Health), the $2,500-a-year membership combines whole-genome sequencing, 140-plus biomarkers, in-home testing and in-house clinical AI with ongoing board-certified physician care. For its venture backers, SONATA represents a bet on AI-enabled, longitudinal preventive care that synthesizes genomics and biomarkers into personalized, physician-directed plans—positioning the company in the fast-growing consumer preventive-health and longevity market. (Link)
  4. Arteria/VC-backed Provect AI Raises $7M. Provect AI, a Palo Alto medical-imaging software company, raised $7 million led by Arteria Capital and ValueStream Ventures, with participation from Newfund Capital and Sand Hill Angels, alongside FDA 510(k) clearance for its platform. The software reconstructs volumetric 3D images from standard 2D C-arm x-ray data without a CT scanner or added hardware, targeting spine and orthopedic image-guided procedures. Investors are backing a capital-light approach to intraoperative 3D imaging that integrates with existing PACS and navigation systems. The proceeds fund commercial expansion, customer deployments and continued product development as Provect commercializes its cleared technology into surgical workflows. (Link)
  5. Game Changers Ventures-led (VC-backed) Cognify Health Raises Seed. Cognify Health raised a seed round led by Game Changers Ventures to build a healthcare platform for youth athletics, starting with concussion care. Round size was undisclosed. Founded and led by Christian Juzang, Cognify connects families with a concussion specialist via telehealth within 24 hours and provides return-to-learn and return-to-play plans, drawing on clinicians tied to organizations including USA Basketball and UCLA BrainSPORT. For its lead investor, the thesis is building the “default healthcare layer” for youth sports—using concussion care as an entry point into a broader, nationwide integrated pediatric-athletics platform addressing an underserved, geographically fragmented care gap. (Link)
  6. Symbiotic Capital (Growth debt) Provides up to $65M to THINK Surgical. THINK Surgical, a Fremont, California orthopedic surgical-robot maker, secured a debt facility from healthcare-credit firm Symbiotic Capital providing up to $65 million of growth capital—an initial $25 million funded tranche, an additional $15 million milestone tranche, and up to $25 million discretionary. Combined with recent investments from existing backers, management expects the facility to fully finance the company to profitability. Proceeds advance the dual-channel commercial strategy for its TMINI Miniature Robotic System, compatible with roughly 70% of total-knee implants. For Symbiotic, the deal reflects private-credit appetite to fund scaled, commercial-stage medtech growth without dilutive equity at a critical inflection. (Link)
  7. Orlando Health Ventures-led (Health-system/VC) 410 Medical Raises $12M. 410 Medical, a Durham, North Carolina critical-care device company, closed an oversubscribed $12 million financing led by Orlando Health Ventures, with participation from Hatteras Venture Partners, Ballad Health, OSF Healthcare, Rex Health Ventures, CU Healthcare Innovations Fund, Sarnova, Catalyst by Wellstar, Tampa General and an undisclosed strategic investor. The heavy health-system investor syndicate reflects clinical conviction in 410’s LifeFlow rapid fluid-and-blood delivery products, used at 500-plus hospitals and EMS agencies. Orlando Health Ventures deepened an existing partnership by leading the round. Proceeds scale commercial operations and support a next-generation LifeFlow infuser planned for 2027. (Link)
  8. Capital Q Ventures (Strategic partnership investment) in Woddle. Woddle, a smart-nursery and infant-monitoring healthcare startup previously backed by Madison-based HealthX Ventures, announced a strategic partnership and investment from Capital Q Ventures, an Orlando, Florida alternative-investment firm spanning venture capital, private credit and private equity. Round size was undisclosed. Woddle builds technology-enabled tools for parents and caregivers, initially focused on the modern nursery. For Capital Q, the investment adds a consumer-health hardware-and-software company to a portfolio that emphasizes hands-on support for growth-stage businesses. The partnership provides Woddle additional capital and strategic backing as it scales its baby-focused product line and builds out its parenting-support platform. (Link)
  9. Insight Partners-led (Growth/VC-backed) TytoCare Raises $25M+ TytoCare closed an oversubscribed growth round exceeding $25 million led by Insight Partners, with participation from HOOP, OliveTree, OrbiMed, Qumra Capital and Qualcomm Ventures, alongside the appointment of Adam Pellegrini as CEO. Insight Partners, which manages over $90 billion, cited institutional conviction in TytoCare’s market position and demand for AI-enabled remote diagnostics. TytoCare, a remote physical-examination company with FDA-cleared devices and AI software-as-a-medical-device algorithms, is repositioning as an AI-first clinical-enablement platform for chronic and complex disease. Proceeds fund its AI algorithm pipeline, deeper payer and health-system partnerships, and go-to-market expansion into cardiometabolic, oncology and post-acute populations. (Link)

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Healthcare News, Deals, and Investments Update July 13th, 2026

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Healthcare Weekly News and Deals –July 13th, 2026

  1. American Industrial Partners agreed to acquire Avanos Medical (NYSE: AVNS) in an all-cash take-private valued at approximately $1.272 billion. American Industrial Partners (AIP), an operationally oriented investor with roughly $17.8 billion in assets, is acquiring Avanos Medical (NYSE: AVNS) for $25.00 per share in cash — a ~72% premium to Avanos’s pre-announcement close — valuing the medical-technology company at about $1.272 billion enterprise value. Having cleared regulatory review, the deal is expected to close by late July 2026 following a July 22 stockholder vote. Alpharetta, Georgia-based Avanos, focused on specialty nutrition and pain-management/recovery devices, will become privately held. AIP plans to leverage its operational playbook to support Avanos’s next phase of innovation and commercial execution. (Link)
  2. TCW Steel City (part of PNC Financial Services Group, NYSE: PNC), alongside co-lenders Brightwood, CIFC and CalSTRS, provided a $170 million recapitalization financing to Colorado-based Lone Peak Dental Group. TCW Steel City — the private-credit platform combining PNC Financial Services Group (NYSE: PNC) and TCW Private Credit — served as lead arranger and administrative agent on a $170 million recapitalization of Lone Peak Dental Group, a Dental Partnership Organization operating 75-plus offices across 14 states. The facility bundled a term loan, revolver and delayed-draw term loan structured to bankroll future acquisitions. Brightwood, CIFC and CalSTRS joined as additional lenders. The senior-secured package reflects private-credit appetite for scaled, mission-driven dental platforms pursuing both de novo and affiliation growth, giving Lone Peak flexible capital to expand pediatric dental access across its footprint. (Link)
  3. Surplus Solutions, a portfolio company of private equity firm NMS Capital, acquired Frederick, Maryland-based DCM BioServices to expand its laboratory-automation technical-service capabilities. NMS Capital, a private equity firm managing more than $2.0 billion across business and healthcare services, added to its Surplus Solutions platform with the acquisition of DCM BioServices, a Frederick, Maryland provider of lab-automation maintenance, repair and integration. Terms were undisclosed. The tuck-in extends Surplus Solutions’ equipment-lifecycle-management model into recurring preventive-maintenance contracts — a stream NMS partner David Peterson framed as a natural extension of existing customer relationships. DCM services 3,000-plus instruments across 200-plus labs nationwide, deepening the platform’s technical bench across leading instrument makers and reinforcing NMS’s buy-and-build thesis in life-sciences services. (Link)
  4. Orthopedic & Balance Therapy Specialists, a seven-clinic Northwest Indiana outpatient physical-therapy practice, was sold to an undisclosed national rehabilitation platform. Orthopedic & Balance Therapy Specialists (OBTS), a seven-location outpatient physical-therapy provider founded in 2003 in Northwest Indiana, completed a sale to an unnamed national rehabilitation platform. Both financial terms and the acquiring platform were left undisclosed. The transaction fits the broader private-equity-driven consolidation of outpatient rehab, where scaled platforms continue absorbing founder-owned, multi-clinic practices with strong payer relationships and regional density. OBTS’s shareholders sought a strategic partner to preserve clinical standards and culture while accessing platform resources for continued growth, positioning the practice to expand within its market under larger ownership. (Link)
  5. EQT (Nasdaq Stockholm: EQT), through its EQT X fund, agreed to acquire the Corza Biosurgery/TachoSil business from Corza Medical, which is backed by private equity firm GTCR. EQT (Nasdaq Stockholm: EQT) agreed to acquire Corza Biosurgery — built around TachoSil, a dual-action hemostat-and-sealant surgical patch — from GTCR-backed Corza Medical. Financial terms were undisclosed; closing is expected in Q4 2026. Investing through its EQT X fund, EQT plans to accelerate U.S. commercial and indication expansion, broaden adoption in underpenetrated markets, and build a wider biosurgery platform via add-on M&A. GTCR, which carved out TachoSil in 2021 and combined it with Surgical Specialties, exits the unit. TachoSil is used across cardiovascular, hepatic, neurological and thoracic procedures in more than 50 countries. (Link)
  6. Onto Health, a fertility and longevity platform backed by ARTIS Ventures and Humania, acquired U.S.-based clinical-decision-support company LEVY Health. Onto Health — a physician-led fertility and longevity provider backed by ARTIS Ventures and Humania — acquired LEVY Health, a U.S. clinical-decision-support software company for reproductive medicine. Terms were undisclosed. The purchase follows Onto’s roughly $20 million Series A and provides the technological backbone for a scalable, tech-enabled fertility-care infrastructure spanning the United States and the Gulf Cooperation Council region. LEVY’s diagnostics help clinics identify endocrine disorders and streamline fertility workups, letting practices fold low-complexity fertility care into existing models. The deal signals investor appetite for AI-enabled infrastructure plays in the multi-billion-dollar global fertility-services market. (Link)
  7. ResMed (NYSE: RMD) agreed to sell its MatrixCare software business to private equity firm Frazier Healthcare Partners for $490 million in cash. ResMed (NYSE: RMD) agreed to divest its MatrixCare post-acute-care software unit to Frazier Healthcare Partners, a healthcare-focused private equity firm, in a $490 million all-cash deal expected to close in the first quarter of ResMed’s fiscal 2027. ResMed, which paid $750 million for MatrixCare in 2018, will redeploy proceeds toward shareholder returns via an accelerated share repurchase while sharpening its sleep-and-breathing focus. MatrixCare — serving 15,000-plus skilled-nursing, senior-living and home-health providers — generated roughly $220 million revenue and $55 million adjusted operating profit in fiscal 2026. Frazier, which has raised over $11 billion, gains a scaled long-term-care software platform. (Link)
  8. Steel Partners Holdings (NYSE: SPLP), a shareholder of InMode (NASDAQ: INMD), offered to acquire the medical-aesthetics company for $16.75 per share in cash, topping a competing CEO-led bid. Steel Partners Holdings (NYSE: SPLP), which owns roughly 1.3% of InMode (NASDAQ: INMD), launched an unsolicited $16.75-per-share all-cash offer for the Israeli medical-aesthetics maker — a 20% premium to the $13.95 unaffected price and $0.55 above a rival buyout led by CEO Moshe Mizrahy. Steel argued the CEO’s $16.20 bid undervalued InMode using a low 2026 EBITDA estimate, demanded Mizrahy’s removal over governance conflicts, and urged the board to form an independent committee. Steel also offered existing holders the option to roll up to 40% of their equity into the privatized company, intensifying the contested sale process. (Link)
  9. Emergency Care Partners — backed by private equity firms Varsity Healthcare Partners, MidOcean Partners and Regal Healthcare Capital Partners — partnered with Phoenix-based Empower Emergency Physicians. Emergency Care Partners (ECP), the largest single-specialty emergency-medicine physician-services provider in the U.S. and backed by Varsity Healthcare Partners, MidOcean Partners and Regal Healthcare Capital Partners, formed a strategic partnership with Empower Emergency Physicians, a Phoenix independent group serving Dignity Health’s St. Joseph’s hospitals. Terms were undisclosed. The deal extends Pensacola-based ECP’s Southwest footprint to more than 1.7 million annual patient encounters across ten states while preserving Empower’s physician-led model. It reflects the sponsors’ buy-and-build strategy of consolidating physician-owned groups under ECP’s infrastructure, building on MidOcean’s 2025 preferred-equity investment that funds continued acquisitions. (Link)
  10. Incline Equity Partners acquired a majority stake in medical and health physics testing provider West Physics from LNC Partners, which retains a minority interest. Incline Equity Partners acquired a majority equity interest in Atlanta-based West Physics, a provider of medical and health physics testing and consulting that certifies MRI, CT and X-ray equipment against ACR, IAC and Joint Commission standards across 6,000-plus client sites in all 50 states and abroad. Terms were undisclosed. Seller LNC Partners — which first invested in May 2018 and grew revenue more than 3.7x over seven years through organic expansion and six add-on acquisitions — rolls over a minority position alongside Incline. Founder-CEO Dr. Geoffrey West continues to lead, with both sponsors backing further organic growth and M&A into adjacent services and geographies. (Link)
  11. Cygnet Group, backed by parent company Universal Health Services (NYSE: UHS), acquired Orchard Care Group in the Republic of Ireland. Cygnet Group — the UK mental-health and social-care provider owned by Universal Health Services (NYSE: UHS) — acquired Orchard Care Group, an integrated fostering, residential and disability-care provider in the Republic of Ireland. Terms were undisclosed. Orchard operates 39 residential and community homes plus two day services and employs over 550 people, with its executive team staying on. The deal marks Cygnet’s first residential-support expansion beyond the UK, extending UHS’s international social-care reach. It follows Cygnet’s recent run of UK acquisitions and hospital builds, signaling continued consolidation of specialist care assets under the publicly traded U.S. hospital operator. (Link)
  12. HCC Healthcare signed a business-combination agreement with SPAC RF Acquisition Corp III (Nasdaq: RFAM) to pursue a Nasdaq listing at a roughly $500 million equity value. Singapore-incorporated HCC Healthcare, which runs integrated medical and long-term-care services through Taiwan subsidiaries, agreed to merge with RF Acquisition Corp III (Nasdaq: RFAM), a publicly traded special-purpose acquisition company, to go public on Nasdaq. The deal reflects a pre-transaction equity value of approximately $500 million at $10.00 per share, with closing targeted for Q4 2026 subject to shareholder and regulatory approvals. On a pro forma basis, the combined Taiwan-focused network spans 120-plus long-term-care facilities and 9,000-plus beds. The SPAC route gives HCC public-market capital to scale its aging-population care model across Taiwan, Japan and Asia. (Link)
  13. Austin, Texas-based private equity firm CenterGate Capital invested in Canadian Dental Labs (CDL), Canada’s leading manufacturer of dental prosthetics and orthodontic appliances. CenterGate Capital, an Austin, Texas private equity firm, made a control investment in Canadian Dental Labs (CDL), the Toronto-headquartered platform that is Canada’s leading maker of dental prosthetics and orthodontic appliances. Terms were undisclosed. CDL — comprising labs including Shaw Lab Group, Protec Dental and Hallmark — serves 5,000-plus dental professionals and DSOs nationwide, with CEO Ali Rezaei continuing to lead. CenterGate backs the platform’s next growth phase, funding investment in people, technology and its coast-to-coast laboratory network. The deal underscores private equity’s appetite for scaled, technology-forward dental-lab consolidators with recurring, patient-specific manufacturing demand. (Link)
  14. ReFocus Eye Health, the management-services organization backed by Zenyth Partners, partnered with Connecticut’s 11-location Solinsky EyeCare. ReFocus Eye Health — a Northeast ophthalmology management-services organization backed by investment firm Zenyth Partners — affiliated with Solinsky EyeCare, an 11-location comprehensive ophthalmology and optometry practice serving Greater Hartford, Connecticut. Terms were undisclosed. Adding Solinsky’s 14 ophthalmologists and optometrists lifts ReFocus’s network to more than 250 affiliated physicians across 114 locations in nine states. The affiliation preserves physicians’ clinical autonomy while providing operational and administrative support, reflecting Zenyth-backed ReFocus’s continued regional roll-up strategy. The transaction adds to a wave of private-equity-sponsored consolidation in eye care as platforms pursue density in attractive Northeastern markets. (Link)
  15. CONMED Corporation (NYSE: CNMD) is weighing a potential sale after receiving takeover interest from unnamed private equity firms. CONMED Corporation (NYSE: CNMD), a surgical-device maker focused on orthopedic and general surgery, saw shares jump as much as 10% after Bloomberg reported the company is exploring strategic options following acquisition interest from private equity firms. No formal sale process has been confirmed and specific bidders have not been disclosed. CONMED, whose products include sports-medicine implants, electrosurgery systems and the AirSeal platform, has been sharpening its focus on higher-margin surgical segments after exiting gastroenterology lines. The reported interest highlights sustained private-equity appetite for scaled medtech assets, though any transaction remains speculative pending confirmation of a formal review. (Link)
  16. Clarivate Plc (NYSE: CLVT) agreed to sell its Life Sciences & Healthcare segment to healthcare-focused investment firm Altaris LLC for $600 million. Clarivate Plc (NYSE: CLVT) agreed to divest its Life Sciences & Healthcare segment to Altaris LLC, an investment firm focused exclusively on healthcare, for $600 million. Clarivate receives $500 million cash at closing plus $25 million deferred, using proceeds to cut debt and sharpen its subscription-first focus on Academia & Government and Intellectual Property. The company expects a $225–250 million non-cash goodwill impairment. For Altaris, the carve-out delivers a data-and-analytics platform supporting decision-making across the drug and device lifecycle. The transaction reflects the recurring theme of publicly traded information providers shedding non-core units to specialist private-equity buyers. (Link)
  17. Private equity firm Warburg Pincus, partnering with the Abu Dhabi Investment Authority, is nearing a $7 billion-plus acquisition of specialty pharmacy PANTHERx Rare from owners General Atlantic, Nautic Partners and The Vistria Group. Warburg Pincus, which manages over $100 billion, is in advanced talks to acquire Pittsburgh-based specialty pharmacy PANTHERx Rare for more than $7 billion including debt, partnering with sovereign-wealth fund the Abu Dhabi Investment Authority. PANTHERx, focused on rare and orphan-disease medicines and patient support, is owned by a consortium of General Atlantic, Nautic Partners and The Vistria Group, which bought it from Centene in 2022. Nothing is finalized and timing could slip. The deal reflects private equity’s bet on recession-resistant, high-margin orphan-drug demand and the growing pattern of buyout firms pairing with sovereign-wealth capital on large checks. (Link)
  18. Halma plc (LSE: HLMA) acquired Summit Partners-backed Dreampath Diagnostics for an initial €154 million plus an earn-out of up to €121 million. UK-listed Halma plc (LSE: HLMA) acquired Dreampath Diagnostics, a Strasbourg-based provider of automated tissue-sample management systems for pathology labs, from growth-equity firm Summit Partners. Halma is paying an initial €154 million (about $132 million) in cash, with a performance-based earn-out of up to €121 million through 2028. Summit, which made an undisclosed growth investment in 2025, exits after helping Dreampath scale to 300-plus million samples across 500-plus labs in 50 countries. Dreampath — forecasting roughly €33 million revenue for the year to March 2027 — will run standalone within Halma’s Healthcare Sector, strengthening its diagnostics traceability capabilities. (Link)
  19. Spero Health — backed by Heritage Group, Health Velocity Capital, South Central Inc. and Frist Cressey Ventures — acquired CleanSlate Centers, backed by Granite Growth Health Partners, HealthQuest Capital and CRG. Spero Health, a Nashville-area outpatient addiction-treatment provider owned by Heritage Group, Health Velocity Capital, South Central Inc. and Frist Cressey Ventures, acquired multi-state opioid-treatment operator CleanSlate Centers — backed by Granite Growth Health Partners, HealthQuest Capital and CRG — in a deal that closed July 1 and averts CleanSlate’s shutdown. Spero assumed CleanSlate’s equity interests in exchange for taking on its debt and deal costs; terms were undisclosed. The combination roughly doubles Spero’s footprint to 128 locations across ten states, with heavy overlap in Ohio, Indiana and Kentucky, reflecting Spero’s thesis that consolidation strengthens payer leverage. (Link)
  20. Private equity firm Enhanced Healthcare Partners made a growth investment in LeadingReach, healthcare’s largest connected referral network. Enhanced Healthcare Partners (EHP), a healthcare-focused private equity firm, made a growth investment in Austin-based LeadingReach, operator of healthcare’s largest verified referral network spanning 30,000-plus organizations, 60,000-plus care settings and 125,000-plus providers processing 25,000 daily referrals. Terms were undisclosed. EHP adds experienced healthcare operators to LeadingReach’s board and provides resources to accelerate AI-powered automation, deeper EHR integrations and expanded network infrastructure following the company’s recent acquisition of iNaira Healthcare Technologies. The investment reflects EHP’s focus on founder-led health-IT platforms positioned to benefit from the industry’s shift toward value-based care and referral coordination. (Link)
  21. Shore Capital Partners, a healthcare-focused private equity firm, acquired Denver-based employee-benefits technology platform ThrivePass. Shore Capital Partners, a Chicago-based private equity firm with roughly $17 billion in assets, acquired ThrivePass, a Denver employee-benefits administration technology platform founded by Wade Rosen, Andreas Deptolla and Charles Shen. Terms were undisclosed. The investment funds continued development of ThrivePass’s configurable platform — spanning lifestyle spending accounts, rewards, tuition reimbursement, COBRA and pre-tax benefits for employers, brokers and PEOs. Shore brings healthcare-focused operational resources and a consolidation playbook to scale the business as demand grows for digital-first benefits tools. The deal extends Shore’s health-tech portfolio, targeting a lower-middle-market platform with organic and acquisition-driven growth potential. (Link)
  22. Integrity, LLC acquired Stride Health, the portable-benefits technology platform powering gig-economy insurance enrollment for partners including Uber, DoorDash and Amazon Flex. Dallas-based insurance distributor Integrity, LLC acquired Stride Health, a San Francisco portable-benefits technology platform that helps independent and gig workers enroll in health, dental, vision and life coverage. Terms were undisclosed. Stride — founded in 2014 and previously Allstate-backed — connects 4.6 million-plus workers and 140-plus enterprise partners including Uber, DoorDash, Gusto and Amazon Flex. Integrity folds Stride’s consumer marketplace into its IntegrityCONNECT agent platform and roughly 600,000-strong agent network, expanding into the under-65 individual market where tens of millions lack employer coverage. The deal pairs digital enrollment with agent-assisted distribution as worker-misclassification rules reshape portable-benefits demand. (Link)
  23. Principal Financial Group (Nasdaq: PFG) agreed to acquire digitally-native ancillary employee-benefits company Beam Benefits to expand its small-business protection platform. Principal Financial Group (Nasdaq: PFG) agreed to acquire Beam Benefits, a cloud-native ancillary employee-benefits company serving over 25,000 small businesses with dental, vision, life, disability and supplemental health coverage. Terms were undisclosed. Beam — built on an AI-powered underwriting and self-service technology stack and available in 46 states plus D.C. — generated roughly $175 million in premiums in 2025. Principal, which serves 180,000 employers, expects the deal to close in the latter half of 2026 and to lift Specialty Benefits premium and fee growth to at or above the high end of its 5–9% medium-term target in 2027. The digital-first model adds scalable capabilities to Principal’s SMB strategy. (Link)

Venture Deals and Other

  1. Valspring Capital led a $28 million Series B in Pediatrica Health Group, with participation from existing investor M33 Growth. Pediatrica Health Group, a Miami-based multi-site pediatric primary-care organization, closed a $28 million Series B led by Boston growth-equity firm Valspring Capital, with existing backer M33 Growth participating. The capital funds organic growth and strategic acquisitions plus investment in clinical infrastructure, technology and value-based-care capabilities. Pediatrica — founded through its partnership with M33 — has scaled to 21 locations across Florida and Texas. Valspring, formed by Bain Capital Ventures’ former healthcare team, cited its thesis that lasting healthcare change comes from companies innovating on patient and provider experience. The round backs continued expansion of equitable pediatric primary-care access. (Link)
  2. RPS Ventures led a $19 million Series B in Handspring Health, with new investor Angelini Ventures joining returning backers Cobalt Ventures, NextView Ventures, nvp capital, Hyde Park Angels and Cornucopian Capital. Handspring Health, a virtual youth mental-health provider, raised a $19 million Series B led by RPS Ventures, with new investor Angelini Ventures joining returning backers Cobalt Ventures, NextView Ventures, nvp capital, Hyde Park Angels and Cornucopian Capital. The round — lifting total funding to $37 million — funds clinician hiring, deeper value-based-care partnerships with payers, broader geographic reach and technology investment. Handspring, which employs rather than contracts its therapists and trains them in-house in evidence-based modalities, has treated 4,000-plus patients across nine states and grown revenue more than tenfold in two years. RPS’s Nancy Hilliker joins the board. (Link)
  3. Surface Ventures led a $3 million seed round in Octozi, with participation from Remarkable Ventures and following a prior investment from Debiopharm’s venture arm. Octozi, a New York agentic-AI company automating clinical-trial data operations for pharmaceutical sponsors, raised $3 million in seed funding led by Surface Ventures, with Remarkable Ventures participating and building on an earlier stake from Swiss pharma Debiopharm’s venture arm. The capital expands Octozi’s human-in-the-loop platform, which integrates with clinical systems to automate data cleaning, reconciliation, review and reporting. A peer-reviewed study found the tool boosted data-cleaning throughput roughly sixfold and cut reviewer error rates from about 55% to 8%, with estimated savings above $5 million per Phase III oncology trial. Surface Ventures’ Gyan Kapur framed the bet on compressing drug-development timelines. (Link)
  4. Andreessen Horowitz led a $50 million equity round for Pearl Health, joined by Viking Global Investors, AlleyCorp and Ulysses Capital, alongside a $60 million debt facility led by Trinity Capital (NASDAQ: TRIN). Pearl Health, a New York health-technology company enabling providers to manage risk for Medicare patients, raised $110 million — a $50 million equity round led by Andreessen Horowitz with Viking Global Investors, AlleyCorp and Ulysses Capital, plus a $60 million debt facility led by Trinity Capital (NASDAQ: TRIN). The capital funds AI-platform expansion, new risk products, Medicare Advantage entry and enterprise health-system and payer partnerships. Pearl — profitable in 2025 — supports 10,000-plus providers across 40-plus states serving 250,000-plus beneficiaries and manages roughly $3.6 billion in annualized medical spend. a16z’s Vineeta Agarwala praised Pearl’s technology-led approach to value-based payment. (Link)
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Healthcare News, Deals, and Investments Update Jul 6th, 2026

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Healthcare Weekly News and Deals –July 6th, 2026

  1. Select Medical Holdings Corporation (formerly NYSE: SEM) has completed a $3.9 billion management buyout led by Executive Chairman Robert A. Ortenzio, Senior EVP Martin F. Jackson, and private equity firm Welsh, Carson, Anderson & Stowe. Select Medical (NYSE: SEM) completed its acquisition by a consortium led by Executive Chairman Robert A. Ortenzio, Senior EVP Martin F. Jackson, and private equity firm Welsh, Carson, Anderson & Stowe at $16.50 per share, valuing the healthcare operator at approximately $3.9 billion. The price represents an 18% premium over SEM’s unaffected price as of November 24, 2025, and a 25% premium to the 90-day VWAP. WCAS, founded in 1979, focuses on healthcare and technology and has managed more than $33 billion in committed capital. The insider-led structure lets management pursue a concentrated rehabilitation strategy free of quarterly earnings pressure; SEM was delisted from the NYSE on July 1, 2026. (Link)
  2. Blue Owl Capital Inc. (NYSE: OWL) has completed the acquisition of Sila Realty Trust, Inc. (formerly NYSE: SILA) in an all-cash transaction valued at approximately $2.4 billion to expand its Real Assets platform. Blue Owl Capital (NYSE: OWL) announced its managed funds completed the acquisition of Sila Realty Trust, a net lease REIT focused on healthcare properties. The all-cash deal was valued at approximately $2.4 billion at $30.38 per share, a 19% premium to Sila’s April 17, 2026 close and a 25.6% premium to the 30-day VWAP. Sila stockholders approved the merger with more than 98% of votes cast in favor, and the stock was delisted. For Blue Owl (NYSE: OWL), which manages $315 billion in assets, the acquisition adds Sila’s 137 healthcare properties across 65 markets, deepening exposure to durable, essential real estate. (Link)
  3. BridgeBio Pharma, Inc. (NASD: BBIO) has raised up to $1 billion in convertible preferred equity led by Sixth Street with participation from HealthCare Royalty, a business of KKR (NYSE: KKR). BridgeBio Pharma (NASD: BBIO) entered an agreement with funds managed by Sixth Street and funds managed by HealthCare Royalty, a business of KKR (NYSE: KKR), to invest up to $1 billion in newly issued convertible preferred equity. Sixth Street funded $800 million as lead investor, with HealthCare Royalty funding $133.9 million at closing. The terms favor BridgeBio: a 7.00% initial dividend payable in kind or cash, an initial conversion price of $137.79 (over a 100% premium to the 30-day VWAP), stepping to $153.10 after year five, with permanent equity and no holder redemption. The capital funds Attruby’s growth and three planned launches. (Link)
  4. PACS Group, Inc. (NYSE: PACS) has agreed to acquire the operations of 34 skilled nursing facilities across six western states from Eduro Healthcare to broaden its post-acute platform. PACS Group (NYSE: PACS) entered a definitive agreement to acquire the operations of 34 skilled nursing facilities across six western states from Eduro Healthcare, a family-owned operator with nearly 20 years of history. The operations span Texas (22), Montana (six), South Dakota (three), and one each in New Mexico, North Dakota, and Utah, comprising 3,633 skilled nursing beds. The deal reflects PACS’s aggressive, acquisition-driven strategy that has propelled its market capitalization to $6.32 billion, though it also adds operational complexity and regulatory scrutiny that investors are weighing. CEO Jason Murray emphasized aligned operating models built on empowering local leadership. (Link)
  5. National HealthCare Corporation (NYSE American: NHC) has acquired 32 skilled nursing facilities and three independent living facilities from National Health Investors, Inc. (NYSE: NHI) for $560 million to convert leased assets into owned real estate. National HealthCare Corporation (NYSE American: NHC) completed the $560 million acquisition of 32 skilled nursing facilities and three independent living facilities from National Health Investors, Inc. and its affiliates, assets NHC had operated since a 1991 Master Lease. The strategic logic is ownership economics: management said the deal is expected to be accretive to earnings and cash flow, and CEO Steve Flatt framed owning versus leasing as yielding stronger long-term investor returns. NHC (NYSE American: NHC) shares have surged over 101% in the past year, trading near a 52-week high, with 12 consecutive years of dividend increases. The seven-state portfolio deepens NHC’s owned footprint across the Southeast. (Link)
  6. United Therapeutics Corporation (NASD: UTHR) has acquired Thymmune Therapeutics, Inc. for $140 million in cash plus up to $160 million in milestones to expand its regenerative medicine pipeline. United Therapeutics (NASD: UTHR) acquired preclinical biotech Thymmune Therapeutics, paying $140 million in cash subject to post-closing adjustments, with former equityholders eligible for up to $160 million in earn-outs tied to clinical and regulatory milestones through 2031. The structure ties the bulk of upside to performance, limiting UTHR’s downside on an early-stage asset. United Therapeutics reported $1.28 billion in cash as of March 31, 2026, comfortably funding the deal. Strategically, the acquisition strengthens UTHR’s regenerative medicine portfolio and supports its long-term strategy to expand transplantable organ supply, complementing its UThymoKidney program and adding lead candidate THY-100 for congenital athymia. (Link)
  7. GTCR-backed Experity has acquired Exdion Healthcare to accelerate AI-driven revenue cycle management automation for on-demand care. Experity, the on-demand healthcare technology platform used by nearly half of all U.S. urgent care clinics, acquired Exdion Healthcare, an AI-driven SaaS company specializing in the patient chart-to-cash lifecycle. The deal reflects sponsor GTCR’s vertical-integration playbook: Experity is backed by GTCR, a Chicago private equity firm, whose urgent-care strategy has been to own the EMR, practice management, billing, and analytics layers. GTCR Principal Radu Cret said the combination reflects the firm’s Leaders Strategy, scaling differentiated AI capabilities into a unified platform. Founded in 1980, GTCR has invested more than $35 billion in over 300 companies and manages approximately $45 billion in equity capital. Exdion’s insurance-focused affiliate was excluded. (Link)
  8. U.S. Physical Therapy, Inc. (NYSE: USPH) Acquires 12-Clinic Physical Therapy Practice in New State Expansion. U.S. Physical Therapy, Inc. (NYSE: USPH) announced the acquisition of a 12-clinic physical therapy practice effective July 1, 2026, acquiring a 67% equity interest (sellers retain 33%). The practice generates ~112,000 annual visits and $12 million in revenue, expanding USPH’s footprint to 45 states. The add-on aligns with USPH’s growth strategy of partnering with high-quality local operators while leveraging national scale in outpatient PT and industrial injury prevention. COO-West Graham Reeve highlighted alignment in clinical excellence and community relationships. This continues USPH’s disciplined M&A approach in a fragmented market. (Link)
  9. An affiliate of Peak Rock Capital has completed the acquisition of Asembia LLC from the Irene family to expand its healthcare portfolio through technology investment and add-on acquisitions. An affiliate of Peak Rock Capital, a middle-market private investment firm, completed the acquisition of Asembia LLC and its related entities, a specialty-pharma commercialization platform offering HUB services, specialty distribution, data services, pharmacy software, and GPO solutions. Peak Rock makes investments in the range of $50 million to $1.5 billion. The thesis is founder-partnership plus buy-and-build: Managing Director Spencer Moore said Peak Rock will invest in technology, capabilities, and marketing while pursuing complementary acquisitions to support accelerated growth. CEO Anthony DiSimone framed the deal as demonstrating Peak Rock’s commitment to founder-owned businesses with strong growth potential in resilient, technology-enabled healthcare. (Link)
  10. Gainline Capital Partners’ portfolio company M&M International has acquired KC Tech to expand its medical-grade tubing manufacturing capabilities. Gainline Capital Partners announced that its portfolio company M&M International, a manufacturer of precision-engineered stainless-steel tubing serving the medical device market, acquired KC Tech, a fellow manufacturer also focused on that market. This is a classic private-equity add-on: Gainline acquired M&M in July 2024 and installed a U.S.-based management team to support growth through organic expansion and strategic acquisitions. Gainline partner Rob Dellinger said the buy-and-build plan was in place from the outset, with KC Tech the next step. Gainline invests in U.S.-based middle-market companies, prioritizing first-institutional-capital partnerships; financial terms were not disclosed. The deal adds larger-diameter tubing to M&M’s portfolio. (Link)
  11. Martis Capital Management has acquired a majority stake in Deerfield Group from Edgewater Funds, with founders and management retaining significant ownership, to expand its healthcare marketing platform. Martis Capital Management, a middle-market healthcare private equity firm, acquired a majority equity stake in Deerfield Group, a marketing, communications, and media partner for healthcare and life sciences. Financial terms were not disclosed, and Deerfield’s founders and management team retain significant ownership. The deal marks a transition from prior investor Edgewater Funds, during which Deerfield grew revenue more than 30 percent annually since 2017. Managing Partner Mario Moreno cited Deerfield’s differentiated platform at the intersection of healthcare marketing, media, and technology. Since 2011, Martis has raised more than $2.2 billion from institutional clients for North American middle-market healthcare. (Link)
  12. Momentum Life Sciences has received a strategic growth investment from Parthenon Capital to accelerate its specialty-therapy commercialization platform and fund acquisitions. Momentum Life Sciences, a commercialization platform offering patient- and provider-facing solutions for specialty therapy initiation and adherence, announced a strategic investment from Parthenon Capital, a growth-oriented private equity firm. Financial terms were not disclosed, and Momentum’s existing leadership team will continue as significant shareholders. The structure is a management-aligned growth recapitalization: the capital will accelerate Momentum’s growth strategy and fund strategic acquisitions. Parthenon Partner Dan Killeen cited therapy adoption and adherence as acute, underserved challenges and a compelling opportunity to expand across the commercialization ecosystem. Parthenon, with offices in Boston, San Francisco, and Austin, has particular expertise in healthcare and technology services. (Link)
  13. Cathay Capital has launched and invested in Ascendia Autism Care, with Gladstone Capital Corporation (NASD: GLAD) as a capital partner, to expand access to evidence-based ABA therapy. Cathay Capital launched Ascendia Autism Care, a platform expanding access to evidence-based Applied Behavior Analysis therapy, beginning with a founding affiliate operating 20 centers across eight states. Cathay’s investment is sized to fund both the founding transaction and substantial growth capital, though financial terms were not disclosed. Crucially, Gladstone Capital Corporation (NASD: GLAD) was a capital partner in the transaction. The thesis targets an acute supply-demand gap; Cathay VP Jackson Catalano cited significant unmet need and the benefits of early intervention. Cathay Capital, founded in 2007, now manages more than $5.5 billion in assets, and plans de novo expansion plus school-based channels over 24 months. (Link)
  14. OpenLoop has acquired Y Combinator-backed Hey Revia, founded by Shaun Wei and David Zhu, to expand its AI-powered telehealth communications infrastructure. OpenLoop, an Iowa-based infrastructure telehealth platform, acquired Hey Revia, a Y Combinator-backed AI voice and communication platform automates healthcare operations such as insurance verification, prior authorizations, and pharmacy coordination. OpenLoop will integrate Hey Revia’s offerings into Launchpad, its self-serve platform for launching branded telehealth services, compressing client onboarding. Cofounders Shaun Wei and David Zhu join OpenLoop as EVP of engineering and senior director of engineering, respectively. The transaction extends OpenLoop’s acquisitive push following its earlier purchase of food-as-medicine platform Season Health. (Link)
  15. INVO Fertility, Inc. (NASD: IVF) has acquired the remaining stake in HRCFG from Karen Hammond, Lisa Ray, and Nicholas Cataldo for $175,001 to take full control of its Birmingham, Alabama fertility clinic. INVO Fertility (NASD: IVF) entered a Membership Interest Transfer Agreement to acquire 100% of HRCFG, gaining full control of its Birmingham, Alabama fertility clinic. The structuring is highly deferred and cash-flow-funded: the $175,001 consideration includes $1 at closing, $48,000 paid pro rata in equal monthly installments over nine months starting October 2026, and $127,000 drawn from HRCFG’s own free cash flow. For INVO (NASD: IVF), the appeal is consolidation—the company will consolidate the Alabama clinic’s results prospectively—converting a partial interest into a wholly owned revenue stream with minimal upfront capital outlay. Sellers will provide transition services for about four months and support for 12 months thereafter. (Link)
  16. Clarivate Plc (NYSE: CLVT) has announced the sale of its Life Sciences & Healthcare segment for $600 million to reduce leverage and refocus on its Academia & Government and Intellectual Property markets. Clarivate Plc (NYSE: CLVT) announced it has agreed to sell its Life Sciences & Healthcare segment for $600 million. The divestiture caps a process launched in February 2026, when Clarivate said a sale would allow further emphasis on its Academia & Government and Intellectual Property markets and that proceeds would strengthen its balance sheet through reduced leverage. The strategic driver is debt: Clarivate carries roughly $4.6 billion in long-term debt at a net leverage ratio of 7.7x trailing EBITDA, and the segment generated $389.8 million in 2025 revenue, its smallest at about 16% of the total. The acquirer was not identified in the sources available at the time of writing. (Link)
  17. Klick Health, backed by Linden Capital Partners and GIC, has acquired Oxford PharmaGenesis to expand its scientific-to-commercial capabilities for life sciences clients. Klick Health struck its third takeover in 18 months, acquiring UK-based Oxford PharmaGenesis to expand global reach and deepen scientific expertise. The deal follows a capital-backed roll-up strategy: months after acquiring Ward6’s Singapore operations, Klick received growth investment from Linden Capital Partners and GIC to accelerate expansion, and one year later made Oxford PharmaGenesis its biggest acquisition yet. The rationale is capability convergence—deepening Klick’s scientific expertise while expanding real-world evidence and health economics and outcomes research capabilities—positioning the combined firm against other private-equity-backed groups scaling in life sciences communications. Financial terms were not disclosed. (Link)
  18. Pacira BioSciences (NASD: PCRX) Agrees to Divest iovera° Business to Zimmer Biomet for Up to $140 Million. Pacira BioSciences, Inc. (NASD: PCRX) has agreed to divest its iovera° cryoneurolysis business to Zimmer Biomet Holdings, Inc. (NYSE: ZBH) for up to $140 million, including $70 million upfront and up to $70 million in revenue-based milestones through 2031. The move supports Pacira’s 5×30 strategy and transition to a pure-play innovative biopharmaceutical company focused on non-opioid pain therapies. Zimmer Biomet, a global medical technology leader, gains a complementary drug-free pain management device with established adoption and spasticity program upside. The transaction includes a transition services agreement and is expected to close in Q3 2026. (Link)
  19. ClearOne (NASD: CLRO) Enters Merger Agreement with Vivani Subsidiary Cortigent to Create Neurostimulation Public Platform ClearOne, Inc. (NASD: CLRO) has entered a definitive merger agreement with Cortigent, Inc., a wholly-owned subsidiary of Vivani Medical, Inc. (NASD: VANI). The deal includes a concurrent $10–15 million financing. Upon closing, the combined entity will operate as Cortigent Holdings, Inc. (expected ticker: CRGT), with Vivani owning a majority stake. Cortigent is developing precision neurostimulation implants (including the Orion cortical system with FDA Breakthrough Device Designation) for vision restoration and stroke recovery. The transaction provides Cortigent a public listing and growth capital while positioning the combined company in the high-potential neurotechnology space. Expected close in Q3 2026. (Link)
  20. Corten Capital has acquired Beacon Intelligence from the Hanson Wade Group, with Ampersand Capital Partners investing as a minority co-investor, to accelerate life sciences R&D intelligence. Corten Capital completed its acquisition of Beacon Intelligence from the Hanson Wade Group, with Ampersand Capital Partners investing alongside Corten as a minority co-investor, establishing Beacon as a fully independent company. The strategic aim is scale for a proprietary data platform: the investment gives Beacon resources to deepen coverage, expand into new therapeutic areas, and accelerate product features. Beacon is the third investment from Corten Capital II, which closed in March 2024 with €680 million in capital commitments, and Corten is partnering with management led by CEO Rob Poolman and Chair Sati S. Sian. David Anderson, General Partner at Ampersand, will join the board. (Link)
  21. Prestige Consumer Healthcare Inc. (NYSE: PBH) Completes Acquisition of LaCorium Health and Prices $400 Million Senior Notes Offering. Prestige Consumer Healthcare Inc. (NYSE: PBH) has closed its previously announced acquisition of LaCorium Health, an Australian leader in therapeutic skincare products (Dermal Therapy®, Flexitol®, and Crampeze® brands) for approximately $150 million in cash. LaCorium generates ~$40 million in annual revenue and is expected to contribute ~$12 million in EBITDA post-synergies, with strong growth potential through category expansion and geographic reach. The deal was financed with cash on hand and existing credit facilities. Concurrently, Prestige priced a $400 million senior notes offering (6.25% due 2034) to refinance existing debt. The transaction bolsters Prestige’s international consumer healthcare portfolio. (Link)
  22. Byggmästare Anders J Ahlström Holding AB (Nasdaq Stockholm: AJA B) reported that its portfolio company Safe Life completed four acquisitions during Q2 2026, adding roughly €20 million in annual revenue. Byggmästare Anders J Ahlström Holding’s largest portfolio company, Safe Life, added approximately €20 million in annual revenue through four acquisitions in Q2 2026, enhancing its buy-and-build strategy. The acquisitions broaden Safe Life’s presence in Europe and North America and align with its shift toward recurring, subscription-based revenue. For the listed investor Byggmästaren (Nasdaq Stockholm: AJA B), the value creation is concentrated: it owns roughly 12% of Safe Life, which represents about 34% of reported NAV. With €15 million acquired in Q1 and €20 million in Q2, Safe Life added ~€35 million of acquired revenue in H1—covering 80–115% of the assumed annual pace in the analyst valuation framework. (Link)

Venture Deals and Other

  1. Flare Therapeutics Inc. has secured $85 million in an insider-led Series C financing led by Third Rock Ventures and Nextech Invest, with participation from Pfizer Ventures, Eli Lilly, Novartis, and others. Flare Therapeutics, a clinical-stage biotech targeting transcription factors, closed an $85 million Series C led by existing investors. The round was led by Third Rock Ventures and Nextech Invest and included Pfizer Ventures, Boxer Capital, GordonMD Global Investments, Invus, Casdin Capital, Eli Lilly and Company, Novartis, Agent Capital, and Eventide Asset Management. The insider-led composition signals conviction from a syndicate that includes strategic pharma investors. Proceeds will advance Flare’s ARON degrader FX-111 to proof of concept and fund preclinical development of the ARON RIPTAC program, alongside the appointment of veteran executive Anna Protopapas as CEO to steer its prostate-cancer focus. (Link)
  2. Integral Privacy Technologies has raised $25 million in total funding from backers including Caffeinated Capital, GreatPoint Ventures, Array Ventures, LiveRamp Ventures, Haystack, and Venrex. Integral Privacy Technologies, a San Francisco-based developer of automated data privacy engineering and decentralized telemetry protection software, raised $25 million in total funding. Backers included Venrex, The General Partnership, Array Ventures, GreatPoint Ventures, LiveRamp Ventures, Haystack, Virtue Ventures, Also Capital, Caffeinated Capital, LifeX Ventures, Circle & Co, and WS Investments. The broad syndicate reflects investor appetite for privacy infrastructure tied to AI development. The company intends to use the funds to expand its privacy engineering and statistical methodology divisions, invest in continuous risk-assessment linkage infrastructure, and accelerate go-to-market operations across global AI development labs. Integral spent four years validating peer-reviewed disclosure methodologies across healthcare and life sciences. (Link)
  3. Pictor Holdings Inc. has secured a $7.5 million bridge round from existing investors to accelerate commercialization of its targeted proteomic platform. Pictor Holdings, a Carlsbad, California-based targeted proteomic platform company, closed a $7.5 million bridge round of growth capital supported by existing investors. The financing brings Pictor’s total capital raised to approximately $30 million and will fund expanded commercial partnerships, platform and manufacturing scale-up, and translational studies across human and animal health markets. The insider-only backing signals continuity of conviction ahead of a larger raise; as CFO Tim Shannon noted, existing-investor support reflects confidence in the platform and commercial model as the company advances toward a Series A. Pictor has launched seven commercial products and secured four strategic partnerships in its first U.S. year. (Link)
  4. Upside Lands $20M Series A to Solve the U.S. Housing Crisis for Healthcare. Upside, a housing stability platform purpose-built for healthcare, closed a $20 million Series A co-led by Aquiline and Flare Capital Partners with participation from 645 Ventures, Freestyle Capital, Triple Impact Capital, and Techstars. The company addresses housing instability—a major driver of healthcare costs—by pairing dedicated Care Guides with AI-supported housing orchestration and a proprietary affordable housing database. Operating across 10 states with partnerships including four of the largest national payers, Upside has achieved 90%+ enrollment, stabilization for more than half of members within 90 days, and up to 4x ROI within 12 months. Proceeds will support expansion across Medicaid, Medicare Advantage, and employer-sponsored markets. (Link)
  5. Lycia Therapeutics Raises $75 Million in Oversubscribed Series D Financing and Strengthens Leadership Team. Lycia Therapeutics, Inc., a clinical-stage biotechnology company developing LYTAC and cataLYTAC degraders targeting extracellular proteins for autoimmune, inflammatory, and allergic diseases, closed an oversubscribed $75 million Series D. The round was co-led by Janus Henderson Investors and Balyasny Asset Management with participation from Adage Capital Management, HBM Healthcare Investments, OrbiMed, and continued support from existing investors including Eli Lilly, Franklin Templeton, Invus, RTW Investments, and Venrock. Proceeds will advance lead programs LCA-0061 (IgE degrader for food allergy) and LCA-0321 (for Graves’ disease) toward early clinical proof-of-concept. The company also appointed Amy Bachrodt as Chief Financial Officer and promoted Karen Flick to General Counsel. (Link)
  6. Anodyne Nanotech Closes $12.6 Million Series A to Advance Once-Weekly GLP-1 Patch into Phase I Clinical Trials. Anodyne Nanotech Inc., a clinical-stage biotechnology company developing transdermal delivery of large molecules via its HeroPatch microneedle platform, closed a $12.6 million Series A led by Velocity Partners VC and co-led by Evercurious VC, with participation from Relativity Healthcare Partners. Proceeds will advance ANN-101, a once-weekly GLP-1 patch for obesity, into Phase I trials, support manufacturing scale-up, and expand the platform for peptides, antibodies, and nucleic acids. The company is also developing combination patches (e.g., apelin/GLP-1) to address lean mass loss associated with GLP-1 therapies. New board member Vikram Lamba (ex-Zosano Pharma, Bayer) joined as part of the round. (Link)
  7. Ladder Health Raises $7 Million Seed to Address Pediatric Therapy Waitlist Crisis. Ladder Health, a virtual-first pediatric developmental care company, closed an oversubscribed $7 million Seed round led by Nina Capital with participation from Mairs & Power Venture Capital, South Dakota First Capital, 25madison Health, Hatteras Venture Partners, Create Health Ventures, Jumpstart Capital, and others. The company delivers speech, occupational, physical, and feeding therapy through an AI-enabled platform that activates caregivers and extends care into the home. Ladder partners with health systems and pediatric practices to reduce wait times from months to days, currently operating in Massachusetts, North Carolina, and Maryland with plans for further expansion. The funding will support geographic growth and platform development. (Link)