M&A Deal Summary

Clarest Health Acquires Remedi SeniorCare

On January 8, 2024, Clarest Health acquired healthcare services company Remedi SeniorCare from Centerbridge Partners and Sterling Partners Private Equity

Acquisition Highlights
  • This is Clarest Health’s 2nd transaction in the Healthcare Services sector.
  • This is Clarest Health’s 3rd transaction in the United States.
  • This is Clarest Health’s 1st transaction in Maryland.

M&A Deal Summary
Date 2024-01-08
Target Remedi SeniorCare
Sector Healthcare Services
Buyer(s) Clarest Health
Sellers(s) Centerbridge Partners
Sterling Partners Private Equity
Deal Type Add-on Acquisition

Target

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.

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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 3 of 3
Sector (Healthcare Services) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Maryland) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 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.

Buy -

Seller(S) 2

SELLER

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 25 of 25
Sector (Healthcare Services) 3 of 3
Type (Add-on Acquisition) 9 of 9
State (Maryland) 2 of 2
Country (United States) 22 of 22
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 MacLean Power Systems

Fort Mill, South Carolina, United States

MacLean Power Systems is a manufacturer of products used by utilities for building transmission and distribution lines and substations. MPS product families include hardware and connection products as well as insulation and protection products. MacLean Power Systems was founded in 1925 and is based in Fort Mill, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-14 Precinmac Precision Machining

South Paris, Maine, United States

Precinmac Precision Machining is a manufacturer of high tolerance precision machined components and assemblies. The company formulates cost-saving alternatives to current production and sourcing methods by offering a single-source solution for precise, high-quality, flexible, and on-time manufacturing to top-tier customers globally. Precinmac Precision Machining is based in South Paris, Maine.

Buy -
SELLER

Sterling Partners Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sterling Partners Private Equity is the private equity arm of asset management firm Sterling Partners. Sterling Partners Private Equityis focused on investing in small to medium-sized companies positioned for growth, either organically or through acquisitions. Sterling has a strong interest in businesses with differentiated products, defensible competitive positions, recurring revenues, and diversified customers. The Firm's target equity commitment size is $5 to $175 million. Broad sectors of interest include direct marketing, education, specialty distribution, specialty manufacturing, healthcare, technology, and business services. Sterling Partners was formed in 1983 and is based in Chicago, Illinois.

DEAL STATS #
Overall 51 of 51
Sector (Healthcare Services) 7 of 7
Type (Add-on Acquisition) 34 of 34
State (Maryland) 9 of 9
Country (United States) 49 of 49
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-24 School of Rock

Canton, Massachusetts, United States

School of Rock offers guitar, drum, keyboard, bass guitar, and vocal lessons for kids 7-18 years old. School of Rock’s music teachers are working musicians who understand the value of using live performances to build skills that are hard to teach during one-on-one music lessons. School of Rock was formed in 1998 and is based in Canton, Massachusetts.

Sell -
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