| |
In today's Daily Pitch, you'll find: - Our analysts explore private equity healthcare deals and key considerations for avoiding regulatory and bottom-line risk.
- Clayton, Dubilier & Rice has agreed to buy PwC's mobility tax and immigration services unit, adding to a growing list of PE-backed carveouts involving the Big Four accounting firms.
| | | | | |
|
| |
| Understanding the nuts and bolts of private equity healthcare deals | |  | | (Ivan-balvan/Getty Images) | | | Healthcare providers have become a prime target for private equity firms, which view the highly fragmented landscape as a ripe opportunity to unlock returns through multiple approaches.
But healthcare providers are unlike any other type of private equity investment. To avoid significant regulatory and bottom-line risk, firms must navigate a changing landscape of legal restrictions, payer relationships and more.
Our latest analyst note details key considerations for private equity healthcare transactions, including: - Who can own healthcare practices, and how these restrictions affect the structure of private equity-backed healthcare providers.
- What firms should look out for with healthcare provider acquisitions, including violations of anti-kickback and self-referral laws.
- How different transaction structures can affect insurance payer contracts and taxation.
| | | | | | | | | | PwC sells tax and immigration unit to CD&R for $2.2B | |  | | (Leon Neal/Getty Images) | | | Clayton, Dubilier & Rice has agreed to buy PwC's Global Mobility Tax and Immigration Services business. The Financial Times reported that CD&R offered to pay $2.2 billion for the unit, marking PwC's biggest sale in nearly 20 years.
The business, which employs around 5,700 professionals, offers tax and immigration advice for companies with cross-border staff. The deal also adds to a growing list of PE-backed carveouts involving the Big Four accounting firms: Deloitte, KPMG, PwC and EY. | | | | | | | |
|
| |
| Life sciences venture investment racing toward a historic year | | With three months to go, this year has already seen a record sum of VC invested in life sciences, at $35.8 billion across 1,510 deals in the US. Orrick's Life Sciences Snapshot draws on a slew of PitchBook venture datasets to provide a summary of key market trends and insights from experts within the space, with highlights including: - How record financing sizes and valuations compare.
- The impact of the equities bull market for exits.
- A spotlight Q&A on key macro and market trends in European life sciences.
Read the report | | | | | | | |
|
| OurCrowd tops list of 2021's most active VCs in Israel | |  | Israel has attracted record amounts of venture funding in 2021.
(Ilan Shacham/Getty Images) | | | Israel has seen unprecedented levels of venture capital investment in 2021, driven largely by an increase in late-stage funding. We took a look at the most active VC investors in Israel so far this year.
Investment platform OurCrowd is leading the way, but who else made the list? | | | | | | | | | | The fight for a revolutionary chip manufacturing technology has left Dutch developer ASML caught in a global tug-of-war. [Fortune]
While oil prices are at a seven-year high and have yet to peak, forecasters aren't agreed on what is driving them up in the first place. [The New York Times]
How the people of Shenzhen built a $30 billion fortune. [Bloomberg] | | | | | |
|
| |
| | Since yesterday, the PitchBook Platform added: | | 277 Deals | 837 People | 310 Companies | 7 Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| 2017 Vintage Global Real Estate Funds | | | | | | |
|
| |
| A message from RBC Capital Markets | | |
| How are changes in consumer behavior influencing M&A? | | Recent M&A volumes in the consumer and retail sectors have been exceptionally high, with companies deploying new strategies to stay aligned with evolving consumer behaviors. According to RBC's global head of consumer and retail, Carrie Cook, "A global cross-sector, cross-product perspective is going to be key." Pandemic-driven changes in consumer preferences are behind recent trends in M&A, including cross-sector convergence and increased investment in data and analytics.
How are consumer brands and companies preparing for the future? What's fueling larger, more complex transactions with global dimensions?
See what's ahead for the sector and why large deals may be a theme going forward, with insights from RBC Capital Markets' industry experts. | | | | | | | |
|
| |
| Aura hits $2.5B valuation | | | | | | | | | Pismo raises $108M Series B | | | Pismo, the creator of a banking and payments platform, has raised $108 million in a round led by SoftBank's Latin America Fund, Amazon and Accel. Founded in 2016 in Brazil, the startup's technology allows banks, fintech companies and non-financial institutions to offer digital wallets, payment cards, digital banking and marketplaces. | | | | | | | | | Aiven has raised $60 million in a Series C extension at a $2 billion valuation. The funding was led by IVP and World Innovation Lab, with participation from Atomico. The Finland-based company offers open-source cloud database infrastructure intended to help developers create applications. | | | | | | | | Data privacy startup Skyflow secures $45M | | | Insight Partners has led a $45 million Series B for Skyflow, the creator of an API-based data privacy platform that helps companies in sectors like fintech and healthtech store and manage sensitive customer data. The Palo Alto-based startup was valued at $97.5 million in December, according to PitchBook data. | | | | | | | | Clyde collects $41M in new funding | | | Clyde has raised a $25 million Series B and $16 million in working capital. The funding round was led by Headline, with support from investors including Vulcan, Spark Capital and Crosslink. The New York-based company is the developer of a product lifecycle platform designed to help brands and retailers sell protection plans and manage claims. | | | | | | | | Element lands $32M Series A | | | | | | | | | Insurights scores $22M in seed funding | | | Insurights has raised a $22 million seed investment led by Group 11. The New York-based company offers an AI-based platform to help employees manage their healthcare benefits. | | | | | |
|
| |
| |
| KKR, Dundee land music rights portfolio | | | KKR and Dundee Partners have purchased Kobalt Capital's KMR Music Royalties II portfolio for $1.1 billion. The portfolio includes a collection of over 62,000 copyrights by artists and songwriters across multiple genres. | | | | | | | | Platinum Equity to pick up Pelican | | | Behrman Capital has agreed to sell Pelican Products, a provider of high-performance protective cases, temperature-controlled packaging solutions, lighting systems and other products, to Platinum Equity. Behrman first backed the Southern California-based company in 2004. Pelican serves customers in the consumer, industrial, biopharma and government sectors. | | | | | | | | Hellman & Friedman to buy market researcher The NPD Group | | | Hellman & Friedman has agreed to acquire The NPD Group, a Port Washington, N.Y.-based provider of market information and advisory services for the general merchandise and food service industries. Founded in 1966, NPD Group serves more than 2,000 customers throughout 19 countries. | | | | | | | | PE-backed T-Base acquires CommonLook | | | T-Base Communications has acquired Virginia-based CommonLook, a provider of software and services that enable electronic document accessibility. T-Base, which offers secure delivery of print, web and digital communications, has been backed by Thompson Street Capital since 2019, when the firm partnered with management to acquire the Canadian company. | | | | | | | | LLR Partners does growth deal with Genesee Scientific | | | LLR Partners has invested in Genesee Scientific, a manufacturer and distributor of products to global life science research markets. Founded in 1995 and based in California, Genesee Scientific serves pharmaceutical and biotech companies, colleges, medical research institutions and others. LLR is a lower-middle-market firm that typically targets tech and healthcare investments. | | | | | | | | Dominus Capital sells restoration contractor | | | | | | |
|
| |
| |
| Mubadala-backed chipmaker GlobalFoundries eyes $2.6B in IPO | | | GlobalFoundries is planning to raise as much as $2.6 billion in its IPO, Bloomberg reported. The chipmaker plans to sell shares priced between $42 and $47 apiece and could reach a valuation as high as $25 billion. The company is backed by Abu Dhabi sovereign wealth fund Mubadala. | | | | | | | | Rent the Runway seeks IPO valuation of nearly $1.5B | | | Rent the Runway has set the terms for its upcoming public offering, aiming to sell its shares at between $18 and $21 apiece. At the top end of the range, the clothing-rental company would have a fully diluted valuation of $1.46 billion and raise $315 million. Rent the Runway is backed by investors including Ares Management, Bain Capital, Highland Capital and TCV. | | | | | |
|
| |
| Galaxy Interactive raises $325M fund | | | | | | | | | Multicoin Capital targets $250M for crypto fund | | | Multicoin Capital is planning to raise $250 million for its third fund, The Information reported. Founded in 2017, the Austin-based firm invests in early-stage cryptocurrency and blockchain companies. | | | | | |
|
| |
| |
|
No comments:
Post a Comment