M&A Deal Summary

Summit Partners Acquires Sound Physicians

On April 23, 2018, private equity firm Summit Partners acquired healthcare services company Sound Physicians from Fresenius Medical Care for 2.2B USD

Acquisition Highlights
  • This is Summit Partners’ 34th transaction in the Healthcare Services sector.
  • This is Summit Partners’ largest (disclosed) transaction.
  • This is Summit Partners’ 271st transaction in the United States.
  • This is Summit Partners’ 6th transaction in Washington.

M&A Deal Summary

Date 2018-04-23
Target Sound Physicians
Sector Healthcare Services
Buyer(s) Summit Partners
Sellers(s) Fresenius Medical Care
Deal Type Divestiture
Deal Value 2.2B USD

Target

Sound Physicians

Tacoma, Washington, United States
website
Sound Inpatient Physicians, Inc. is a physician-founded and led organization providing services across the acute episode of care - through emergency medicine, critical care, hospital medicine, transitional care and advisory services. Our clinicians and business colleagues are committed to improving outcomes for patients and hospitals through a proven performance management model. Sound Inpatient Physicians was established in 2001 and is based in Tacoma, Washington.

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Buyer(S) 1

Buyer

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 19.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private equity and venture capital firm with offices in Boston, Palo Alto, and London. Summit looks for businesses operating in growth industries. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984.


DEAL STATS #
Overall 312 of 341
Sector (Healthcare Services) 34 of 37
Type (Divestiture) 2 of 2
State (Washington) 6 of 6
Country (United States) 271 of 289
Year (2018) 7 of 12
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-09 Integrated DNA Technologies

Coralville, Iowa, United States

Integrated DNA Technologies, Inc. is a manufacturer of custom nucleic acids (i.e. building blocks of DNA and RNA) and assists researchers in advancing genomics technology, including synthetic biology and Next-Generation Sequencing. The company serves more than 80,000 customers across a diverse set of end markets including academic research, biotechnology, clinical diagnostics and pharmaceuticals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-26 Smartsheet

Bellevue, Washington, United States

Smartsheet is a major SaaS platform for managing and automating collaborative work. Our award-winning solutions deliver value for tens of thousands of paying customers and millions of information workers across more than 190 countries. Recently named to the Forbes Cloud 100 list of the world’s best cloud companies, customers like Netflix, Salesforce, the GSA, Google, and over half of the Fortune 500 use Smartsheet internally, with clients, and partners. Smartsheet is headquartered in Bellevue, Washington and, as of May 2017, has more than 550 employees in its Bellevue and Boston offices. Smartsheet was founded in 2005 and is based in Bellevue, Washington.

Sell -

Seller(S) 1

SELLER

Fresenius Medical Care

Bad Homburg, Germany

website


Category Company
Founded 1996
SectorHealthcare Services
Employees123,538
Revenue 17.9B EUR (2020)
DESCRIPTION

Fresenius Medical Care a kidney dialysis company, provides renal dialysis products and services. Fresenius Medical Care was founded in 1996 and is based in Bad Homburg, Germany.


DEAL STATS #
Overall 3 of 4
Sector (Healthcare Services) 2 of 3
Type (Divestiture) 3 of 4
State (Washington) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-28 Shiel Medical Laboratory

Brooklyn, New York, United States

Shiel Medical Laboratory is a clinical laboratory that provides medical diagnostic testing services for physicians and home care agencies. Shiel Medical Laboratory is based in Brooklyn, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-26 NxStage Medical

Lawrence, Massachusetts, United States

NxStage Medical, Inc. is a medical products company. NxStage Medical was founded in 1998 and is based in Lawrence, Massachusetts.

Buy -