M&A Deal Summary

Clarest Health Acquires CSS Health

On September 12, 2022, Clarest Health acquired consumer services company CSS Health from HealthEdge Investment Partners, Eagle Private Capital and 424 Capital

Acquisition Highlights
  • This is Clarest Health’s 1st transaction in the Consumer Services sector.
  • This is Clarest Health’s 2nd transaction in the United States.
  • This is Clarest Health’s 1st transaction in Florida.

M&A Deal Summary

Date 2022-09-12
Target CSS Health
Sector Consumer Services
Buyer(s) Clarest Health
Sellers(s) HealthEdge Investment Partners
Eagle Private Capital
424 Capital
Deal Type Add-on Acquisition

Target

CSS Health

Thonotosassa, Florida, United States
CSS Health combines Medicine-On-Time, the innovative multi-dose blister-pack drug compliance packaging for pharmacies, and Clinical Support Services, an independent Medication Therapy Management patient outreach platform for health plans, in a unique end-to-end adherence offering designed to help patients more effectively take their medications as directed. CSS Health was formed in 1999 and is based in Thonotosassa, Florida.

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Buyer(S) 1

Buyer

Clarest Health

Farmingdale, New York, United States

Category Company
Founded 2007
Sector Life Science
DESCRIPTION

Clarest Health is a pharmacy provider serving the long-term care and post-acute sector, services skilled, nursing, assisted living, and other post-acute facilities. Clarest Health was founded in 2007 and is based in Farmingdale, New York.


DEAL STATS #
Overall 2 of 3
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 3
State: Florida M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 Allen s PharmaServ

Youngstown, Ohio, United States

Allen's PharmaServ is a long-term care pharmacy serving group homes, residential treatment facilities, and residents of other post-acute facilities. Allen's PharmaServ was founded in 1956 and is based in Youngstown, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-08 Remedi SeniorCare

Baltimore, Maryland, United States

Remedi SeniorCare delivers comprehensive pharmacy services, pharmacy consulting, and data management services to nursing homes, assisted living, and continuing care retirement communities. The business is committed to helping these organizations achieve outstanding care, financial strength, and medication safety. Remedi combines their culture of caring with real-world pharmacy services and best-in-class technology to give organizations more time and resources and help them focus on caring for their residents. Remedi SeniorCare was formed in 1954 and is based in Baltimore, Maryland.

Buy -

Seller(S) 3

SELLER

HealthEdge Investment Partners

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Focused
DESCRIPTION

HealthEdge Investment Partners is an operating-oriented private equity firm that targets the healthcare industry. The firm pursues buyouts, recapitalizations or structured investments in healthcare companies with a strong market share. HealthEdge targets businesses with enterprise value ranging between $10 million and $100 million, and with revenues ranging between $5 million and $75 million. Moreover, the firm looks for companies with EBITDA near $15 million. The firm typically commits between $5 million to $20 million of capital per company. HealthEdge focuses on the healthcare segments that involve medical products, devices and equipment, healthcare services, healthcare IT, pharmaceutical, and distribution. HealthEdge Investment Partners was founded in 2005 and is based in Tampa, Florida.


DEAL STATS #
Overall 16 of 18
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 10 of 12
State: Florida M&A 5 of 6
Country: United States M&A 16 of 18
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-25 Anodyne

Milwaukee, Wisconsin, United States

Anodyne is a brand and foremost innovator of clinical footwear solutions aimed at the growing diabetic population. Anodyne was founded in 2015 and is based in Milwaukee, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-31 Veridian Healthcare

Gurnee, Illinois, United States

Veridian Healthcare is a distributor of in-home diagnostics and pain relief products. The company provides innovative products to the growing healthcare market, focusing on brand development and strategic partnerships while expanding its blue-chip wholesale and retail customer portfolio. It offers over 50 years of combined management and sales experience, providing competitively priced and high-quality products designed to meet the standards of today’s healthcare professionals. Veridian Healthcare was founded in 2009 and is based in Gurnee, Illinois.

Buy -
SELLER

Eagle Private Capital

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Eagle Private Capital (EPC) makes private equity and mezzanine investments in middle-market companies. The Firm typically invests $4 to $15 million per investment. EPC looks to partner with management or other private equity investors to provide growth or change of control capital. EPC is based in St. Louis, Missouri.


DEAL STATS #
Overall 45 of 50
Sector: Consumer Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 21 of 26
State: Florida M&A 3 of 3
Country: United States M&A 45 of 50
Year: 2022 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Coronis Health

Sykesville, Maryland, United States

Coronis Health is a scaled revenue cycle management platform providing end-to-end technology-enabled solutions to a diverse set of healthcare providers across the US. Coronis Health was founded in 2015 and is based in Sykesville, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-05 Assem-Pak

Vineland, New Jersey, United States

Assem-Pak is a manufacturer of aluminum seals and rubber stoppers, services third-party glass products, and provides packaging services. Assem-Pak has been providing quality products and services to the pharmaceutical, laboratory, and medical device markets. Assem-Pak was founded in 2000 and is based in Vineland, New Jersey.

Sell -
DESCRIPTION

424 Capital is a growth capital partner that makes control equity investments in lower middle-market companies within B2B Tech-Enabled Services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. Focusing primarily on investments in North America, we invest in companies that are profitable, growing, and that align with our values of honesty, integrity, and impact. 424 Capital was founded in 1995 and is headquartered in Wakefield, Massachusetts.


DEAL STATS #
Overall 9 of 10
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 6 of 6
State: Florida M&A 2 of 2
Country: United States M&A 8 of 9
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Coronis Health

Sykesville, Maryland, United States

Coronis Health is a scaled revenue cycle management platform providing end-to-end technology-enabled solutions to a diverse set of healthcare providers across the US. Coronis Health was founded in 2015 and is based in Sykesville, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-01 PTP

Norwood, Massachusetts, United States

PTP is an amazon web services and advanced consulting partner with the life sciences and managed security services competencies, providing strategic guidance and IT managed services to biotechnology companies. PTP is based in Norwood, Massachusetts.

Buy -