M&A Deal Summary

Bain Capital Double Impact Acquires ConvenientMD

On May 12, 2021, private equity firm Bain Capital Double Impact acquired healthcare services company ConvenientMD from Starr Investment Holdings

Acquisition Highlights
  • This is Bain Capital Double Impact’s 5th transaction in the Healthcare Services sector.
  • This is Bain Capital Double Impact’s 12th transaction in the United States.
  • This is Bain Capital Double Impact’s 1st transaction in New Hampshire.

M&A Deal Summary

Date 2021-05-12
Target ConvenientMD
Sector Healthcare Services
Buyer(s) Bain Capital Double Impact
Sellers(s) Starr Investment Holdings
Deal Type Secondary Buyout
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target

ConvenientMD

Portsmouth, New Hampshire, United States
website
ConvenientMD is an urgent care provider dedicated to delivering the best medical care and patient experience throughout Maine, New Hampshire, and Massachusetts. All state-of-the-art urgent care centers are staffed with expert medical professionals and certified lead providers who are committed to providing high-quality, convenient, and affordable treatment for patients of all ages. ConvenientMD was founded in 2012 and is based in Portsmouth, New Hampshire.

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Buyer(S) 1

DESCRIPTION

Bain Capital Double Impact is the social and wellness investment arm of Bain Capital. The Firm looks to invest in mission-driven companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact is based in Boston, Massachusetts.


DEAL STATS #
Overall 13 of 17
Sector (Healthcare Services) 5 of 5
Type (Secondary Buyout) 3 of 6
State (New Hampshire) 1 of 1
Country (United States) 12 of 16
Year (2021) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 Excelsia

Baltimore, Maryland, United States

Excelsia is an outpatient provider of post-traumatic injury care and physical rehabilitation operates more than 30 patient care centers throughout the Baltimore Washington metropolitan area and the Delmarva Peninsula. Excelsia is based in Baltimore, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 athenahealth

Watertown, Massachusetts, United States

athenahealth is a provider of Internet-based business services for physician practices. The Company's service offerings are based on proprietary web-native practice management and electronic health record (EHR) software, a continuously updated payer knowledge-base, integrated back-office service operations, and live patient communications services. athenahealth was founded in 1997 and is based in Watertown, Massachusetts.

Buy $17.0B

Seller(S) 1

DESCRIPTION

Starr Investment Holdings is a private investment firm focused on acquiring and investing in companies with market leadership, stable EBITDA, and strong cash-flow. The Firm seeks opportunities throughout the US and does not have any stated industry preferences. Starr Investment was formed in 2007 and is a subsidiary of C.V. Starr & Co., Inc. The Firm is based in New York City.


DEAL STATS #
Overall 2 of 3
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 2 of 3
State (New Hampshire) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 ConvenientMD

Portsmouth, New Hampshire, United States

ConvenientMD is an urgent care provider dedicated to delivering the best medical care and patient experience throughout Maine, New Hampshire, and Massachusetts. All state-of-the-art urgent care centers are staffed with expert medical professionals and certified lead providers who are committed to providing high-quality, convenient, and affordable treatment for patients of all ages. ConvenientMD was founded in 2012 and is based in Portsmouth, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-17 ACA Group

New York, New York, United States

ACA Group is a provider of risk management and technology solutions that focus on regulatory compliance, performance, financial crime, and cybersecurity. ACA serves a diverse base of leading investment advisers, private fund managers, commodity trading advisors, investment companies, broker-dealers, and banks. ACA Group was founded in 2002 and is based in New York City.

Sell -