BelHealth-backed Beach House names ex-Pennsylvania Governor Ridge to board

Beach House Center for Recovery, a portfolio company of BelHealth Investment Partners, has named Thomas Ridge and Dr. Steven Levin to its board of directors. Ridge is the former governor of Pennsylvania, a five-time member of the U.S. House of Representatives and the first Secretary of the U.S. Department of Homeland Security. And, Levin is the medical director of Johns Hopkins Hospital’s regional pain program. Juno Beach, California-based Beach House is a drug and alcohol treatment provider. PRESS RELEASE New York, New York – October 19, 2018 – Beach House Center for Recovery (“Beach House” or the “Company”), a portfolio company of BelHealth Investment Partners, LLC (“BelHealth”), a New York-based healthcare private equity firm, announced the appointment of two new senior executives. Beach House named Dr. Steven Levin, MD to the Company’s Board of Directors. Dr. Levin was among the first physicians in the country to
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Future Family takes in $10 mln Series A

Future Family, which offers monthly payment solutions for fertility services, has raised $10 million in Series A funding. Aspect Ventures led the round with participation from iNovia, BBG Ventures, LaunchCapital, RiverPark Ventures, Ulu Ventures, Day One Ventures and Portfolia. In addition to the funding, Aspect Ventures Partner Lauren Kolodny will join the Future Family’s board of directors. Source: Press Release

Addiction recovery app WEconnect fetches $6.06 mln Series A

WEconnect, an addiction recovery app, has secured $6.05 million in Series A funding. The investors include Fred Luddy, founder of ServiceNow; Larry Leeds Jr. from Buckingham Capital; and Mark Ein, CEO of Venturehouse Group. PRESS RELEASE SEATTLE, WA – Today, healthcare-technology company WEconnect announced the close of a $6.05 million Series A round of funding. The WEconnect app supports patients in their first year of recovery after substance abuse treatment, a crucial time in the rehabilitation process. The healthcare-technology company received initial investments from Fred Luddy, founder of ServiceNow, Larry Leeds Jr. from Buckingham Capital, Andrew Wilkinson, founder of Metalab, Mark Ein, CEO of Venturehouse group, Sam Ketcham, Tim Kerr, and more. WEconnect was founded by former French Open Champion Murphy Jensen and tech entrepreneur Daniela Tudor to provide a resource they felt was missing in their own recovery journeys – a technology solution
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VC-backed PhaseBio goes public

Pennsylvania-based PhaseBio Pharmaceuticals, a developer of treatments for orphan diseases, has raised $46 million for its IPO after pricing its 9.2 million shares at $5 per share. The stock began trading October 18, 2018 on the NASDAQ under the ticker symbol “PHAS.” Citigroup, Cowen and Stifel are the lead underwriters. PhaseBio’s pre-IPO backers included New Enterprise Associates, Hatteras Venture Partners, Johnson & Johnson and Fletcher Spaght Ventures. PRESS RELEASE MALVERN, Pa. and SAN DIEGO, Oct. 17, 2018 (GLOBE NEWSWIRE) — PhaseBio Pharmaceuticals, Inc. (“PhaseBio”), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for orphan diseases, with an initial focus on cardiopulmonary, today announced the pricing of its initial public offering of 9,200,000 shares of common stock at a price to the public of $5.00 per share, for total gross proceeds of approximately $46.0 million. The shares are expected to begin
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Astorg and Montagu to control health devices supplier Nemera: Reuters

French private equity firm Astorg on Wednesday said it had reached an agreement to acquire a majority stake in health devices manufacturer Nemera from Montagu Private Equity, with Nemera to be jointly controlled by Astorg and Montagu. The financial terms of the transaction were not disclosed, although data and information provider Marketline reported that the value of the deal topped 1 billion euros ($1.15 billion). “While committing to acquire the business in full, Astorg has offered Montagu the opportunity to reinvest as a partner in the next phase of Nemera’s growth, alongside its management team,” Astorg said in a statement, adding it would jointly control Nemera with Montagu after the transaction. Nemera, based in the south of France, manufactures spray pumps, actuators, valves and autoinjectors. Astorg said it had been advised by Citigroup and Latham & Watkins, while HSBC, Morgan Stanley and Weil Gotshal advised Montagu.

Acadia Healthcare in talks with private equity firms, say sources: Reuters

Acadia Healthcare Co Inc (ACHC.O), a U.S. operator of behavioral health centers, is in talks with private equity firms about selling itself after attracting buyout interest, people familiar with the matter said on Thursday. The buyout talks involving Acadia underscored the renewed interest by private equity firms in the sector, following U.S. legislative reforms that expanded insurance coverage for behavioral health and substance abuse treatment. KKR & Co Inc (KKR.N) and TPG Global are among the private equity firms that have approached Acadia recently to express interest in acquiring it, the sources said, cautioning there is no certainty of a deal.
The sources asked not to be identified because the matter is confidential. Acadia could not be reached immediately for comment, while KKR and TPG declined to comment. Acadia shares rose as much 20 percent to $43.02 in premarket trading on Thursday, giving the company
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KKR-owned Envision Healthcare buys Decatur Radiology Physicians

Envision Healthcare Corp, which is owned by KKR, has acquired Decatur Radiology Physicians, a provider of radiology services in Decatur, Illinois. No financial terms were disclosed. Edgemont Capital Partners LP served as financial adviser to DRP on the sale. PRESS RELEASE NEW YORK and ILLINOIS, October 17, 2018 – Edgemont Capital Partners, L.P. has acted as exclusive financial advisor to Decatur Radiology Physicians (“DRP”) in the sale of the company to Envision Healthcare Corp (owned by KKR & Co.) The transaction closed on October 12, 2018 and was led by Jeff Swearingen, Managing Director and Co-founder of Edgemont, and head of the firm’s Physician Services Group, supported by Vitaliy Marchenko, Vice President, and Arya Palakurthi, Associate. Edgemont is the preeminent healthcare-focused middle market investment bank, serving the advisory needs of healthcare providers and entrepreneurs for more than 15 years. DRP’s sale continues the trend of
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Revolution Medicines is buying VC-backed Warp Drive Bio

Revolution Medicines is acquiring Cambridge, Massachusetts-based Warp Drive Bio, an antibiotics developer. No financial terms were disclosed. The deal is expected to close by the end of this month. Warp Drive Bio is backed by Third Rock Ventures, Sanofi and Greylock. PRESS RELEASE REDWOOD CITY, Calif. & CAMBRIDGE, Mass.–(BUSINESS WIRE)–REVOLUTION Medicines, Inc. and Warp Drive Bio, Inc. announced today that REVOLUTION Medicines is acquiring Warp Drive Bio. The acquisition will combine the companies’ complementary drug discovery technologies and precision oncology programs directed toward frontier oncology targets – elusive drivers of notorious cancer-promoting pathways. The deal, which is expected to close by the end of this month subject to customary closing conditions, involves issuance of REVOLUTION Medicines stock to stockholders of Warp Drive Bio. “The merged R&D portfolio represents a rich pipeline of near- and long-term development opportunities for our R&D team to advance in support of our continuing
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VC-backed SI-BONE goes public

Santa Clara, California-based SI-BONE Inc, a medical device company, has debuted its IPO after pricing its 7.2 million shares at $15 per share. The stock began trading October 17, 2018 on the NASDAQ under the ticker symbol “SIBN.” Morgan Stanley and BofA Merrill Lynch are the lead underwriters. SI-BONE’s pre-IPO backers included Redline Capital Management, Orbimed, Novo A/S, Skyline Ventures and Montreux Equity Partners. PRESS RELEASE SANTA CLARA, Calif., Oct. 16, 2018 /PRNewswire/ — SI-BONE, Inc. (Nasdaq: SIBN) (“SI-BONE”), a medical device company that pioneered the minimally invasive surgical treatment of the sacroiliac joint with the iFuse Implant System®, today announced the pricing of its initial public offering of 7,200,000 shares of common stock at a price to the public of $15.00 per share. In addition, SI-BONE has granted the underwriters a 30-day option to purchase up to an additional 1,080,000 shares of common stock,
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BidMySmile takes in seed funding

Colorado-based Bid Doc Inc, a developer of the BidMySmile platform, a digital marketplace that connects patients with orthodontic specialists, has raised an undisclosed amount of seed funding. Greg Meadows, CEO of Rocky Mountain Healthcare Companies, led the round. Source: Press Release

PE-backed Water’s Edge Dermatology appoints CEO and CFO

Water’s Edge Dermatology, a portfolio company of Gryphon Investors, has named Lawrence P. Kraska as CEO and Kirk A. Sayler as chief financial officer. Previously, Kraska was president and CEO of Interim Healthcare & Caring Brands International while Sayler was senior vice president of finance, accounting and revenue cycle management at Sage Dental. Water’s Edge Dermatology is a Florida-based skincare provider. PRESS RELEASE Palm Beach Gardens, FL, October 16, 2018 – Florida-based Water’s Edge Dermatology announced the addition of two senior healthcare leaders with the hiring of Lawrence “Larry” P. Kraska as CEO and Kirk A. Sayler as CFO. The two experienced executives join a senior management team that is leveraging the success of Water’s Edge as a platform for rapid patient growth through geographic expansion, service line development and strategic practice acquisitions. “We are very pleased to welcome these two remarkable leaders to Water’s Edge Dermatology,” said Ted
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Velicept Therapeutics picks up $15 mln

Velicept Therapeutics, a clinical stage pharmaceutical company focused on treating urological and gastrointestinal disorders, has raised $15 million in funding. Samsara BioCapital led the round. In conjunction with the funding, Cory Freedland, a principal at Samsara BioCapital, has joined Velicept’s board of directors. Source: Press Release

Thirty Madison inks $15.25 mln Series A

Thirty Madison, which is “rebuilding the healthcare experience for modern consumers,” has secured $15.25 million in Series A funding. Maveron and Northzone led the round with participation from other investors that included Greycroft, Steadfast Venture Capital, First Round, ERA, HillCour and Two River. Source: Press Release