M&A Deal Summary

CRH Medical Acquires CarePlus Management

On July 13, 2023, CRH Medical acquired healthcare services company CarePlus Management from Fulcrum Equity Partners and Level Equity Management

Acquisition Highlights
  • This is CRH Medical’s 26th transaction in the Healthcare Services sector.
  • This is CRH Medical’s 26th transaction in the United States.
  • This is CRH Medical’s 6th transaction in Georgia.

M&A Deal Summary
Date 2023-07-13
Target CarePlus Management
Sector Healthcare Services
Buyer(s) CRH Medical
Sellers(s) Fulcrum Equity Partners
Level Equity Management
Deal Type Add-on Acquisition
Advisor(s) Brentwood Capital Advisors (Financial)

Target

CarePlus Management

Watkinsville, Georgia, United States
CarePlus Management has three primary businesses RADAR Healthcare Providers ("RADAR") which provides staffing and locum tenens services focused on anesthesia providers, Anesthesia services division, similar to CRH's clinical anesthesia services and Premier Choice Billing ("Premier Choice") which provides billing, revenue cycle management (RCM) and collection services for healthcare entities. CarePlus Management was founded in 2010 and is based in Watkinsville, Georgia.

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Buyer(S) 1

Buyer

CRH Medical

Vancouver, British Columbia, Canada
Category Company
Founded 2000
Sector Healthcare Services
Revenue 120M USD (2019)
DESCRIPTION

CRH provides GIs throughout the U.S. with products and services for the treatment of gastrointestinal diseases including anesthesia services for patients undergoing endoscopic procedures at 69 ASCs and GI clinics across 13 states, representing approximately 440,000 annual cases (on a run-rate basis). CRH has relationships with 3,200 GIs in the U.S. and Canada and initially entered the GI anesthesia provider space in 2014. Medical was founded in 2000 and is based in Vancouver, Canada.

DEAL STATS #
Overall 26 of 26
Sector (Healthcare Services) 26 of 26
Type (Add-on Acquisition) 23 of 23
State (Georgia) 6 of 6
Country (United States) 26 of 26
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-07 Destin Anesthesia

Destin, Florida, United States

Destin Anesthesia provides a wide array of anesthesia services including anesthesia for general, ophthalmology, GI, orthopedic, plastic surgery, pain management, and gynecological surgery. Destin Anesthesia is based in Destin, Florida.

Buy -

Seller(S) 2

SELLER

Fulcrum Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fulcrum Equity Partners is an investment firm focused on smaller growth companies in the Southeast US. Fulcrum looks to invest $5 to $35 million in businesses generating $3 to $50 million in annual sales. Funds are used to support growth initiatives, acquisitions, divestures, shareholder liquidity, management buyouts and recapitalizations. Sectors of interest include healthcare, IT, business services, and technology-enabled services. Fulcrum Equity Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 21 of 21
Sector (Healthcare Services) 4 of 4
Type (Add-on Acquisition) 11 of 11
State (Georgia) 13 of 13
Country (United States) 21 of 21
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-06 Full Measure

Washington, District of Columbia, United States

Full Measure Education powers personalized mobile experiences at over 300 institutions across the country. The Full Measure platform was built as a solution for schools to ensure that the steps are clear and the path is ready for students to change their lives through higher education. Full Measure was founded in 2013 and is based in Washington, District of Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-21 SurgNet Health Partners

Nashville, Tennessee, United States

SurgNet Health Partners is a surgery center development and management company. SurgNet Health Partners was founded in 2022 and is based in Nashville, Tennessee.

Buy -
SELLER

Level Equity Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Level Equity Management LLC is a private investment firm focused on providing equity and structured capital to growth businesses. Sectors of interest include e-commerce, healthcare services, IT, internet software, and media. Level Equity Management was formed in 2009 and is based in New York City.

DEAL STATS #
Overall 19 of 22
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 9 of 10
State (Georgia) 4 of 4
Country (United States) 17 of 20
Year (2023) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 WeSpire

Boston, Massachusetts, United States

WeSpire provides software for enterprises to manage complex ESG programs across a diverse/dispersed workforce. WeSpire was founded in 2010 and is based in Boston, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-14 Groove

San Francisco, California, United States

Groove is a SaaS-based sales automation platform for account-based sales teams looking to run multi-touch campaigns. Groove was founded in 2014 and is based in San Francisco, California.

Sell -
Mergr

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