M&A Deal Summary

Dignity Health Acquires U.S. HealthWorks

On August 15, 2012, Dignity Health acquired healthcare services company U.S. HealthWorks, Inc. from Altaris Capital Partners LLC and Three Arch Partners

Acquisition Highlights
  • This is Dignity Health’s 1st transaction in the Healthcare Services sector.
  • This is Dignity Health’s 1st transaction in the United States.
  • This is Dignity Health’s 1st transaction in California.

M&A Deal Summary

Date 2012-08-15
Target U.S. HealthWorks, Inc.
Sector Healthcare Services
Buyer(s) Dignity Health
Sellers(s) Altaris Capital Partners LLC
Three Arch Partners
Deal Type Add-on Acquisition
Advisor(s) Goldman Sachs Investment Banking Division (Financial)

Target

U.S. HealthWorks, Inc.

Valencia, California, United States
website
U.S. HealthWorks is a provider of occupational healthcare services in the United States. The Company offers solutions for employers that are seeking to control workers’ compensation costs, minimize lost employee work time, maintain healthy workplaces and strengthen productivity. USHW also provides non-injury occupational health services including job-site analysis, drug and alcohol testing and employment-related physical examinations.

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Buyer(S) 1

Buyer

Dignity Health

San Francisco, California, United States

website


Category Company
SectorHealthcare Services
DESCRIPTION

Dignity Health, headquartered in San Francisco, Calif., provides integrated, patient and family centered care. It is the fifth largest health system in the country with 10,000 physicians and 55,000 employees across Arizona, California, and Nevada. Through its network of more than 150 ancillary care sites and 40 acute care hospitals, Dignity Health is committed to delivering compassionate, high-quality, affordable health care services with special attention to the poor and underserved.


DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1

Seller(S) 2

SELLER

Altaris Capital Partners LLC

New York City, New York, United States

website


Category Private Equity Firm
Founded 2003
PE ASSETS 2.5B USD
SizeLarge
Type Sector Focused
DESCRIPTION

Altaris Capital Partners is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris Capital Partners was formed in 2004 and is based in New York City.


DEAL STATS #
Overall 6 of 21
Sector (Healthcare Services) 3 of 6
Type (Add-on Acquisition) 3 of 9
State (California) 1 of 2
Country (United States) 5 of 20
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-01 International Medical Group, Inc.

Indianapolis, Indiana, United States

International Medical Group, Inc. is a provider of medical insurance products and assistance services. IMG offers a full line of international medical insurance products, as well as trip cancellation programs, medical management services and 24/7 emergency medical and travel assistance all designed to provide members Global Peace of Mind® while they’re away from home. International Medical Group, Inc. was established in 1989 and is headquartered in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-28 Alterna LLC

Cedar Knolls, New Jersey, United States

Alterna LLC is an owner and marketer of therapeutic, over-the-counter (OTC) medicines and personal product brands. Alterna mission is to provide high quality, over the counter healthcare products to consumers and establish strong brands that increase profit for retailers.

Sell kr133M
SELLER

Three Arch Partners

San Mateo, California, United States

website


Category Private Equity Firm
Founded 1993
PE ASSETS 1.0B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Three Arch Partners is an investor in healthcare companies, including medical devices, diagnostics, and healthcare services. Three Arch primarily invests in early stage companies, however the Firm will consider select later stage investments. Three Arch typically invests alongside others and looks to commit $100k to $15 million per investment. Three Arch Partners was formed in 1993 and is based in San Mateo, California.


DEAL STATS #
Overall 13 of 23
Sector (Healthcare Services) 2 of 4
Type (Add-on Acquisition) 8 of 15
State (California) 11 of 17
Country (United States) 13 of 23
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-06 Respicardia, Inc.

Minnetonka, Minnesota, United States

Respicardia is a provider of novel implantable neurostimulators for the treatment of moderate to severe Central Sleep Apnea. CSA is a serious condition that is often associated with heart failure, coronary artery disease, and certain cardiac arrhythmias. Respicardia was founded in 2006 and is based in Minnetonka, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-25 LipoScience, Inc.

Raleigh, North Carolina, United States

LipoScience, Inc. is a diagnostic company focused on indentifying and quantifying metabolic markers associated with cardiovascular disease.

Sell -