Patient Square Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Patient Square Capital has acquired 8 companies. It has also invested in 1 other.

Patient Square Capital’s most common sectors for investment arelife science (34%) and medical products (34%) . The Firm’s most common investment types include going private (56%) and consolidation (23%). In total, Patient Square Capital has invested in 7 US states. Its largest (disclosed) acquisition occurred in 2023 when it acquired Syneos Health for $7.1B.

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M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity9
  • Total Sectors Invested 5
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 4
  • M&A Advisors 6

Patient Square Capital

Patient Square Capital, L.P.

2884 Sand Hill Road Suite 100,
Menlo Park, California 94025
United States
www.patientsquarecapital.com
inquiries@patientsquarecapital.com

Patient Square Capital is a private investment firm specializing in the healthcare sector. The Firm seeks opportunities to invest broadly across the healthcare industry, including technology-enabled services, biopharmaceuticals, the pharmaceutical value chain, medical devices, diagnostics, providers, digital health and consumer health. Patient Square Capital was formed in 2020 and is headquartered in Menlo Park, California.


Investment Criteria

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

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Growth Capital, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.8/yr) # - - 1 5 2 1 9
vol $2.1B $7.1B $220M $9.5B
Sell (0.0/yr) # - - - - - - 0
  9

Most Recent M&A

Company Date Value Type
NanoString Technologies, Inc. 2024-03-10 220M USD Going Private
Seattle, Washington · www.nanostring.com
Syneos Health, Inc. 2023-05-10 7.1B USD Going Private
Morrisville, North Carolina · www.syneoshealth.com
Elevage Medical Technologies 2023-05-01 - Consolidation
, United States · www.elevagemedicaltechnologies.com
Hanger, Inc. 2022-07-21 1.3B USD Going Private
Austin, Texas · www.hanger.com
Eargo, Inc. 2022-06-27 - Stake Purchase
San Jose, California · www.eargo.com
Radius Health, Inc. 2022-06-23 890M USD Going Private
Boston, Massachusetts · www.radiuspharm.com
Enavate Sciences 2022-05-02 - Consolidation
Menlo Park, California · www.enavatesciences.com
Access TeleCare 2022-02-03 - Going Private
Dallas, Texas · www.accesstelecare.com
Summit Behavioral Healthcare LLC 2021-09-09 - Secondary Buyout
Franklin, Tennessee · www.summitbhc.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Access TeleCare 2022-02-03 Forefront Telecare, Inc. 2022-09-01 1
Dallas, Texas · www.accesstelecare.com Hamilton, New Jersey · www.forefronttelecare.com

M&A by Sector

Sector Current # Value All-time # Value
Life Science 3 (33%) 8.2B (87%) 3 (33%) 8.2B (87%)
Medical Products 3 (33%) 1.3B (13%) 3 (33%) 1.3B (13%)
Financial Services 1 (11%) - 1 (11%) -
Healthcare Services 1 (11%) - 1 (11%) -
Information Technology 1 (11%) - 1 (11%) -
Total 9 $9.5B 9 $9.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 9 (100%) 9.5B (100%) 9 (100%) 9.5B (100%)
  Texas 2 (22%) 1.3B (13%) 2 (22%) 1.3B (13%)
  California 2 (22%) - 2 (22%) -
  North Carolina 1 (11%) 7.1B (75%) 1 (11%) 7.1B (75%)
  Massachusetts 1 (11%) 890M (9%) 1 (11%) 890M (9%)
  Washington 1 (11%) 220M (2%) 1 (11%) 220M (2%)
  Tennessee 1 (11%) - 1 (11%) -
Total 9 $9.5B 9 $9.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Going Private 5 (56%) 9.5B (100%) 5 (56%) 9.5B (100%)
Consolidation 2 (22%) - 2 (22%) -
Secondary Buyout 1 (11%) - 1 (11%) -
Stake Purchase 1 (11%) - 1 (11%) -
Total 9 $9.5B 9 $9.5B

Top M&A Advisors

Financial Deals
Greenhill & Co., Inc.
1
Goldman Sachs
1
Legal Deals
Kirkland & Ellis
6
Latham & Watkins
3
McDermott Will & Emery
1

Deal Values

buy # Total
> $1B 2 $8.4B
$100M to $1B 2 $1.1B
TOTAL $9.5B
Largest Syneos Health, Inc.
$7.1B (2023-05-10)

M&A Connections

Deals
Acquired from
Investor(s)
11%
1 (11%)

FAQ

When was Patient Square Capital founded?

Patient Square Capital was founded in 2020.

What type of investor is Patient Square Capital?

Patient Square Capital is a private equity firm.

Where is Patient Square Capital headquartered?

Patient Square Capital is headquartered in Menlo Park, California.

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