M&A Deal Summary

Halpern Denny and MedEquity Capital Acquire Heartlab

On April 30, 2001, private equity firms Halpern Denny and MedEquity Capital acquired medical products company Heartlab for 23M USD

Acquisition Highlights
  • This is Halpern Denny’s 2nd and MedEquity Capital’s 1st transaction in the Medical Products sector.
  • This is Halpern Denny’s 4th and MedEquity Capital’s largest (disclosed) transaction.
  • This is Halpern Denny’s 4th and MedEquity Capital’s 2nd transaction in the United States.
  • This is Halpern Denny’s 1st and MedEquity Capital’s 1st transaction in Rhode Island.
Investment Fate
  • Heartlab was sold to a publicly-traded strategic buyer in 2005 for 133M USD.

M&A Deal Summary

Date 2001-04-30
Target Heartlab
Sector Medical Products
Buyer(s) Halpern Denny
MedEquity Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 23M USD

Target

Heartlab

Westerly, Rhode Island, United States
website
Heartlab, Inc. is a provider of digital imaging and archiving products and services for cardiac catheterization laboratories. Heartlab, Inc. develops and markets systems for management and archiving of cardiac catheterization images and related patient information. It develops application software and integrates systems using industry-standard computer hardware.

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Buyer(S) 2

Buyer

Halpern Denny

Boston, Massachusetts, United States

website


Category Private Equity Firm
Founded 1991
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Halpern, Denny & Co. is a private equity investment firm that targets management buyouts and high growth, late stage expansion financings. In general, investments range between $5 million to $50 million per portfolio company. Investments less than $5 million are considered if the potential for return is either very high or if there is a follow-on investment opportunity. Moreover, investments up to $100 million can be completed with Halpern Denny co-investors. Industries of particular interest to Halpern, Denny & Co. include consumer, media/communications, distribution, specialty manufacturing, and healthcare. Halpern, Denny & Co. was formed in 1991 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 4 of 11
Sector (Medical Products) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 7
State (Rhode Island) 1 of 1
Country (United States) 4 of 11
Year (2001) 1 of 3
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-19 Bridge Medical

Solana Beach, California, United States

Bridge Medical provides patient safety software and services to the healthcare industry. It offers point-of-care patient safety system, which uses bar-code scanning, clinical bases, wireless networking, and integration to help nurses to intercept clinical errors at the patient bedside. The company’s products are used in hospitals and health systems.

Buy $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-06-06 Decision Management International

Bradenton, Florida, United States

Decision Management International, Inc. is a provider of software and associated consulting services for complexity reduction for FDA-regulated industries.

Buy $14M
Buyer

MedEquity Capital

Wellesley Hills, Massachusetts, United States

Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
Size Middle-Market
Type Sector Focused
DESCRIPTION

MedEquity Capital LLC is a specialist private equity firm that invests in mid- to late-stage healthcare service and product companies. MedEquity's focus within healthcare services includes provider based services, out-sourced non-core services, infrastructure-focused businesses, product companies with low technology risk, and technology driven service companies. MedEquity will consider both control and non-control investments and looks invest between $2 and $20million per transaction. Investment funds are typically used to support recapitalizations, acquisitions, and growth. MedEquity Capital LLC was formed in 2002 and is based in Wellesley Hills, Massachusetts.


DEAL STATS #
Overall 2 of 14
Sector (Medical Products) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 7
State (Rhode Island) 1 of 1
Country (United States) 2 of 14
Year (2001) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-05 Leadscope

Columbus, Ohio, United States

LeadScope, Inc. is a developer and marketer of chemistry-based software solutions for life science drug discovery. Leadscope’s solutions employ sophisticated artificial intelligence and machine-learning algorithms to help researchers better predict potential safety outcomes. Leadscope, Inc. was founded in 1997 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-06-06 Decision Management International

Bradenton, Florida, United States

Decision Management International, Inc. is a provider of software and associated consulting services for complexity reduction for FDA-regulated industries.

Buy $14M