M&A Deal Summary

Atar Capital Acquires Pathways

On October 22, 2018, private equity firm Atar Capital acquired healthcare services company Pathways from Molina Healthcare

Acquisition Highlights
  • This is Atar Capital’s 1st transaction in the Healthcare Services sector.
  • This is Atar Capital’s 3rd transaction in the United States.
  • This is Atar Capital’s 1st transaction in Virginia.

M&A Deal Summary

Date 2018-10-22
Target Pathways
Sector Healthcare Services
Buyer(s) Atar Capital
Sellers(s) Molina Healthcare
Deal Type Divestiture

Target

Pathways

Fredericksburg, Virginia, United States
Pathways is a provider of community based behavioral and social services across the US. Pathways employees create healthier communities by addressing social determinants of health and providing home and community-based services. Pathways was formed in 1997 and is based in Fredericksburg, Virginia.

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Buyer(S) 1

DESCRIPTION

Atar Capital is a private investment firm focused on complex acquisitions and turnarounds. The Firm has a special interest in non-core or non-strategic divestures of public companies. Atar seeks opportunities with $50 million to $1.5 billion of revenue and up to $25 million of EBITDA. Targeted sectors include automotive, manufacturing, distribution, industrials, business services, media/entertainment, technology, consumer products, food/beverages, healthcare, aerospace/defense, and transportation. Atar Capital was established in 2016 and is based in Los Angeles, California.


DEAL STATS #
Overall 3 of 10
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 3 of 7
State (Virginia) 1 of 1
Country (United States) 3 of 8
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 RWS

Chadds Ford, Pennsylvania, United States

RWS develops and manages end-to-end recycling, waste and sustainability programs for multi-site blue chip customers across North America. RWS is a full-service provider and category manager with an asset light business model. Its customers benefit from market leading technology, action oriented analytics and reporting, and an expertly managed commodities trading platform. RWS is headquartered in Chadds Ford, Pennsylvania and has offices located in Atlanta, Georgia; Plano, Texas; St. Louis, Missouri; and Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-26 Microcel

Newmarket, Ontario, Canada

Microcel is a distributor of technology products from wearables, portable audio, computer and telephony accessories, to smart home and outdoor tech solutions. Microcel was founded in 1989 and is based in Newmarket, Ontario.

Buy -

Seller(S) 1

SELLER

Molina Healthcare

Long Beach, California, United States

Category Company
Founded 1980
Sector Insurance
Employees18,000
Revenue 34.1B USD (2023)
DESCRIPTION
Molina Healthcare's corporate headquarters in Long Beach, California.
Molina Healthcare's corporate headquarters in Long Beach, California.

Molina Healthcare is a provider of managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. Molina Healthcare operates through two segments that include Health Plans and Molina Medicaid Solutions. Molina's Health Plans segment consists of operational health plans. Molina's Medicaid Solutions segment provides design, development, implementation, and business process outsourcing solutions to state governments for their Medicaid management information systems. Molina Healthcare was established in 1980 and is based in Long Beach, California.


DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-19 Universal American - Total Care Medicaid Plan

New York, New York, United States

Total Care is a prepaid health services plan that provides health care coverage to approximately 39,000 members under the medicaid and child health plus programs in the three upstate new york counties of cortland, onondaga and tompkins.

Buy $41M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-16 YourCare Health Plan

Rochester, New York, United States

YourCare Health Plan is a free or low-cost health plan option that puts first with health programs created just for you, in-person case manager visits and regular follow-ups. Because everyone deserves great healthcare. It’s a beautiful thing.

Buy $40M