Frazier Healthcare Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Frazier Healthcare Partners has acquired 5 companies.

Frazier Healthcare Partners’ most common sectors for investment arehealthcare services (39%) and life science (39%) . The Firm’s most common investment types include venture (29%) and buyout (lbo, mbo, mbi) (22%). In total, Frazier Healthcare Partners has invested in 19 US states and 2 different countries.

In the last 3 years, Frazier Healthcare Partners has exited 7 companies. The Firm’s most common exit type is trade sale (48%). Frazier Healthcare Partners’ largest (disclosed) exit occurred in 2022 when it sold Parata Systems for $1.5B.

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M&A Summary

  • M&A Total Activity65
    • M&A Buy Activity42
    • M&A Sell Activity23
  • Total Sectors Invested 8
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 28
  • M&A Advisors 3

Frazier Healthcare Partners

601 Union, Two Union Square, Suite 3200,
Seattle, Washington 98101
United States
(206) 621-7200
www.frazierhealthcare.com

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.


Investment Criteria

Sectors of Interest: Healthcare Services, Life Science, Medical Products

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, PIPE, Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 20 -
Target EBITDA 5 50
Investment Size 30 350
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (1.4/yr) # 35 2 4 - 1 - 42
Sell (2.0/yr) # 13 3 2 3 2 - 23
vol $1.9B $1.5B $3.4B
  65

Most Recent M&A

Company Date Value Type
Apollo Intelligence LLC 2022-06-07 - Buyout (LBO, MBO, MBI)
Watertown, Massachusetts · www.apollointelligence.net
Parata Systems LLC 2022-06-06 1.5B USD Add-on Acquisition
Durham, North Carolina · www.parata.com
Alteon Health 2022-02-01 - Add-on Acquisition
Germantown, Maryland · www.alteonhealth.com
Amunix Pharmaceuticals, Inc. 2021-12-21 - Add-on Acquisition
South San Francisco, California · www.amunix.com
Leiters 2021-11-09 - Secondary Buyout
Englewood, Colorado · www.leiters.com
Imago BioSciences, Inc. 2021-07-12 - IPO
South San Francisco, California · www.imagobio.com
Doubleday Acquisitions LLC 2020-12-24 - Recapitalization
Monroe, Ohio · www.csafeglobal.com
Accuity Delivery Systems LLC 2020-10-26 - Secondary Buyout
Mount Laurel, New Jersey · www.accds.com
Adare Pharmaceuticals, Inc. 2020-09-22 - Secondary Buyout
Lawrenceville, New Jersey · www.adarepharma.com
Vaxcyte, Inc. 2020-06-16 - IPO
Foster City, California · www.vaxcyte.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Matrix Medical Network, Inc. 2016-10-25 Matrix Clinical Laboratory 2023-01-04 2
Scottsdale, Arizona · www.matrixhealth.net Scottsdale, Arizona
Matrix Medical Network, Inc. 2016-10-25 Matrix Clinical Trials Service Line 2022-08-08 1
Scottsdale, Arizona · www.matrixhealth.net Scottsdale, Arizona
Doubleday Acquisitions LLC 2020-12-24 Softbox Systems Ltd. 2021-12-15 1
Monroe, Ohio · www.csafeglobal.com Long Crendon, United Kingdom · www.softboxsystems.com
Adare Pharmaceuticals, Inc. 2020-09-22 Activ Nutritional LLC 2021-05-18 1
Lawrenceville, New Jersey · www.adarepharma.com Greenwich, Connecticut · www.viactiv.com
Matrix Medical Network, Inc. 2016-10-25 HealthFair USA, Inc. 2018-01-16 3
Scottsdale, Arizona · www.matrixhealth.net Winter Park, Florida · www.healthfair.com
Matrix Medical Network, Inc. 2016-10-25 LP Health Services 2017-10-23 2
Scottsdale, Arizona · www.matrixhealth.net , United States
Prezio Health 2011-03-01 Northfield Medical LLC 2017-08-01 1
Troy, Michigan · www.preziohealth.com Novi, Michigan · www.northfieldinfo.com
Orthotic Holdings, Inc. 2013-04-08 Apex Foot Heath Industries LLC 2015-03-03 1
Hauppauge, New York · www.orthoticholdings.com Teaneck, New Jersey · www.apexfoot.com

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 8 (35%) - 16 (38%) -
Life Science 8 (35%) - 16 (38%) -
Medical Products 2 (9%) - 3 (7%) -
Business Services 1 (4%) - 2 (5%) -
Information Technology 2 (9%) - 2 (5%) -
Consumer Products 1 (4%) - 1 (2%) -
Distribution - - 1 (2%) -
Plastics 1 (4%) - 1 (2%) -
Total 23 - 42 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 22 (96%) - 41 (98%) -
  California 1 (4%) - 7 (17%) -
  Pennsylvania 3 (13%) - 5 (12%) -
  New Jersey 2 (9%) - 4 (10%) -
  Ohio 3 (13%) - 3 (7%) -
  Massachusetts 3 (13%) - 3 (7%) -
  Maryland - - 3 (7%) -
  Illinois 1 (4%) - 2 (5%) -
  Arizona 1 (4%) - 2 (5%) -
  Texas 1 (4%) - 2 (5%) -
  Indiana 1 (4%) - 1 (2%) -
  Georgia 1 (4%) - 1 (2%) -
  Wisconsin 1 (4%) - 1 (2%) -
  Tennessee 1 (4%) - 1 (2%) -
  New York 1 (4%) - 1 (2%) -
  New Hampshire 1 (4%) - 1 (2%) -
  Michigan 1 (4%) - 1 (2%) -
  Kentucky - - 1 (2%) -
  Colorado - - 1 (2%) -
  North Carolina - - 1 (2%) -
Canada 1 (4%) - 1 (2%) -
  Ontario 1 (4%) - 1 (2%) -
Total 23 - 42 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 6 (26%) - 12 (29%) -
Buyout (LBO, MBO, MBI) 5 (22%) - 9 (21%) -
Growth Capital 2 (9%) - 7 (17%) -
Secondary Buyout 5 (22%) - 5 (12%) -
Divestiture 2 (9%) - 4 (10%) -
Recapitalization 1 (4%) - 2 (5%) -
Consolidation - - 1 (2%) -
Going Private 1 (4%) - 1 (2%) -
Joint Venture 1 (4%) - 1 (2%) -
Total 23 - 42 -

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (35%) 1.0B (29%)
Trade Sale 6 (26%) 19M (1%)
Trade Sale - Public Company 5 (22%) 2.4B (70%)
IPO 4 (17%) -
Total 23 $3.4B

Top M&A Advisors

Legal Deals
Goodwin Procter LLP
 3
Kirkland & Ellis LLP
 1
Bass, Berry & Sims PLC
 1

Deal Values

sell # Total
> $1B 2 $2.5B
$100M to $1B 1 $800M
< $100M 3 $106M
TOTAL $3.4B
Largest Parata Systems LLC
$1.5B (2022-06-06)

M&A Connections

Deals
Acquired from
Investor(s)
17%
7 (17%)
Strategic(s)
7%
3 (7%)
Exited to
Investor(s)
35%
8 (35%)
Strategic(s)
48%
11 (48%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Large

PE Assets

3.4B USD

Established

1991

Specialist/Generalist

Specialist

Leadership

Alan Frazier

Founder & Chairman

Brian Morfitt

General Partner

Nathan Every

General Partner

Ben Magnano

Managing Partner

Nader Naini

Managing Partner

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