M&A Deal Summary

Beech Street Capital Acquires ppoNEXT

On June 1, 2007, Beech Street Capital acquired healthcare services company ppoNEXT from TPE Boulder and Frazier Healthcare Partners for 19M USD

Acquisition Highlights
  • This is Beech Street Capital’s 1st transaction in the Healthcare Services sector.
  • This is Beech Street Capital’s largest (disclosed) transaction.
  • This is Beech Street Capital’s 1st transaction in the United States.
  • This is Beech Street Capital’s 1st transaction in California.

M&A Deal Summary
Date 2007-06-01
Target ppoNEXT
Sector Healthcare Services
Buyer(s) Beech Street Capital
Sellers(s) TPE Boulder
Frazier Healthcare Partners
Deal Type Add-on Acquisition
Deal Value 19M USD

Target

ppoNEXT

Long Beach, California, United States
ppoNEXT is a holding company formed to consolidate the Preferred Provider Organization (PPO) industry. PPOs provide members with access to a broad network of health care providers at substantial discounts to the usual fees.

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Buyer(S) 1

Buyer

Beech Street Capital

Bethesda, Maryland, United States
Category Company
Founded 2009
Sector Financial Services
DESCRIPTION

Beech Street Capital, LLC is a mortgage banking company engaged in originating, underwriting, closing, and servicing high-quality multifamily, long-term care and seniors housing financing solutions nationwide.

DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

TPE Boulder

Braintree, Massachusetts, United States
Category Private Equity Firm
Founded 1997
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

TPE Boulder is a private equity firm focused on small buyout and growth equity investments in profitable healthcare and software companies. TPE will consider minority or control positions and targets companies with $4 to $40 million in revenue and at least $1.5 million of EBITDA. Specific areas of interest include healthcare services, healthcare IT, healthcare payment management systems, enterprise software, SaaS, and Internet B2B companies. TPE Boulder was formed in 1997 and has offices in Braintree, Massachusetts, and Boulder, Colorado.

DEAL STATS #
Overall 6 of 23
Sector (Healthcare Services) 2 of 5
Type (Add-on Acquisition) 3 of 13
State (California) 3 of 8
Country (United States) 6 of 23
Year (2007) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-23 nuBridges

Atlanta, Georgia, United States

nuBridges is a provider of e-business solutions that span traditional EDI Value-Added Network services to next generation products and services to help companies build and manage their e-business communities. nuBridges offers products and services that enable companies to connect to business partners, protect sensitive information and collaborate with business partners.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-07 Mycroft

St. Louis, Missouri, United States

Mycroft, Inc. provides IT and business process management ("BPM") solutions, identity and access management ("IAM") solutions, and managed infrastructure services to large organizations.

Buy -
SELLER

Frazier Healthcare Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1991
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.

DEAL STATS #
Overall 3 of 27
Sector (Healthcare Services) 1 of 11
Type (Add-on Acquisition) 2 of 12
State (California) 2 of 9
Country (United States) 3 of 27
Year (2007) 1 of 3
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-08 CHG Healthcare Services

Salt Lake City, Utah, United States

CHG Healthcare Services is a healthcare staffing firm that provides physicians, allied health professionals, and nurses to hospitals and healthcare organizations in all 50 states on both a temporary and permanent basis. CHG Healthcare Services is based in Salt Lake City, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-20 MedPointe Pharmaceuticals

Somerset, New Jersey, United States

MedPointe, Inc. develops, manufactures and markets a broad range of branded prescription specialty pharmaceutical products in the U.S.

Sell $800M
Mergr

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