Galen Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Galen Partners has acquired 2 companies.

Galen Partners’ most common sectors for investment are healthcare services (25%) and business services (22%). The Firm’s most common investment types include venture (47%) and buyout (lbo, mbo, mbi) (29%). In total, Galen Partners has invested in 14 US states and 2 different countries.

In the last 3 years, Galen Partners has exited 3 companies. The Firm’s most common exit type is trade sale (91%). Galen Partners’ largest (disclosed) exit occurred in 2020 when it sold InTouch Health for $600M.

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M&A Summary

  • M&A Total Activity50
    • M&A Buy Activity28
    • M&A Sell Activity22
  • Total Sectors Invested 7
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 38
  • M&A Advisors 2

Galen Partners

680 Washington Boulevard, 10th Floor,
Stamford, Connecticut 06901
United States
(203) 653-6400
www.galen.com
info@galen.com

Galen Partners is a private equity firm that targets investments in the healthcare industry. Areas within healthcare that Galen will consider include medical devices & technology, specialty pharmaceuticals, and information technology/services. Galen typically invests between $10 and $30 million per transaction in companies with a proprietary product or service that have attained revenues above $10 million. Prospective transactions include growth equity investments, complete buyouts, family business or other recapitalizations, going-private transactions, roll-overs of a portion of existing equity, and management buyouts. Galen Partners was formed in 1990 and is based in Stamford, Connecticut.


Investment Criteria

Sectors of Interest: Consumer Products, Healthcare Services, Information Technology, Life Science, Medical Products

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, PIPE, Secondary Buyout, Venture

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

Transaction Criteria Min Max
Target Revenue 10 100
Target EBITDA - 9
Investment Size 10 30
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.4/yr) # 26 - 1 1 - - 28
Sell (0.6/yr) # 19 - 2 - - 1 22
vol $1.5B $64M $600M $2.2B
  50

Most Recent M&A

Company Date Value Type
InTouch Health, Inc. 2020-01-12 600M USD Add-on Acquisition
Santa Barbara, California · www.intouch-health.com
SMP Pharmacy Solutions 2018-07-19 - Recapitalization
Miami, Florida · www.smppharmacy.com
Cambrooke Therapeutics, Inc. 2017-11-09 64M USD Add-on Acquisition
Ayer, Massachusetts · www.cambrooke.com
Consensys Imaging Service, Inc. 2017-09-28 - Add-on Acquisition
Cary, Illinois · www.consensysimaging.com
CDx Diagnostics 2017-07-11 - Recapitalization
Suffern, New York · www.cdxdiagnostics.com
Consensys Imaging Service, Inc. 2015-11-23 - Growth Capital
Cary, Illinois · www.consensysimaging.com
International Medical Group, Inc. 2015-09-10 - Secondary Buyout
Indianapolis, Indiana · www.imglobal.com
Unisyn Medical Technologies, Inc. 2013-05-29 - Add-on Acquisition
Golden, Colorado · www.unisynmedical.com
Aperio Technologies, Inc. 2012-10-24 - Add-on Acquisition
Vista, California · www.aperio.com
Tactile Systems Technology, Inc. 2012-10-04 - Venture
Minneapolis, Minnesota · www.tactilesystems.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
SMP Pharmacy Solutions 2018-07-19 Northridge Plaza Pharmacy 2019-10-24 1
Miami, Florida · www.smppharmacy.com Northridge, California

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 2 (20%) - 7 (25%) -
Business Services 3 (30%) - 6 (21%) -
Life Science 1 (10%) - 6 (21%) -
Medical Products 3 (30%) - 5 (18%) -
Information Technology - - 2 (7%) -
Insurance - - 1 (4%) -
Internet Software and Services 1 (10%) - 1 (4%) -
Total 10 - 28 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 9 (90%) - 27 (96%) -
  California 2 (20%) - 5 (18%) -
  New Jersey 1 (10%) - 3 (11%) -
  Massachusetts 1 (10%) - 3 (11%) -
  Georgia 1 (10%) - 3 (11%) -
  Pennsylvania - - 3 (11%) -
  Illinois - - 2 (7%) -
  Texas 1 (10%) - 1 (4%) -
  New York 1 (10%) - 1 (4%) -
  Minnesota 1 (10%) - 1 (4%) -
  Florida 1 (10%) - 1 (4%) -
  Virginia - - 1 (4%) -
  Tennessee - - 1 (4%) -
  Indiana - - 1 (4%) -
  Colorado - - 1 (4%) -
Cayman Islands 1 (10%) - 1 (4%) -
Domestic 9 (90%) - 27 (96%) -
Cross-border 1 (10%) - 1 (4%) -
Total 10 - 28 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 6 (60%) - 13 (46%) -
Buyout (LBO, MBO, MBI) 1 (10%) - 8 (29%) -
Growth Capital 1 (10%) - 3 (11%) -
Recapitalization 2 (20%) - 2 (7%) -
PIPE - - 1 (4%) -
Stake Purchase - - 1 (4%) -
Total 10 - 28 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 13 (59%) 1.8B (81%)
Trade Sale 7 (32%) 406M (19%)
Secondary Sale 2 (9%) -
Total 22 $2.2B

Top M&A Advisors

Legal Deals
Cooley LLP
1
Mintz Levin Cohn Ferris Glovsky and Popeo PC
1

Deal Values

sell # Total
$100M to $1B 7 $2.0B
< $100M 3 $174M
TOTAL $2.2B
Largest InTouch Health, Inc.
$600M (2020-01-12)

M&A Connections

Deals %
Exited to
PE Firm(s)
20%
5 20%
Strategic(s)
80%
20 80%

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