M&A Deal Summary

Frazier Healthcare Partners Acquires DirectMed Imaging

On October 15, 2024, growth capital firm Frazier Healthcare Partners acquired medical products company DirectMed Imaging from NMS Capital and Apogem Capital

Acquisition Highlights
  • This is Frazier Healthcare Partners’ 5th transaction in the Medical Products sector.
  • This is Frazier Healthcare Partners’ 47th transaction in the United States.
  • This is Frazier Healthcare Partners’ 8th transaction in California.

M&A Deal Summary

Date 2024-10-15
Target DirectMed Imaging
Sector Medical Products
Buyer(s) Frazier Healthcare Partners
Sellers(s) NMS Capital
Apogem Capital
Deal Type Secondary Buyout

Target

DirectMed Imaging

Poway, California, United States
DirectMed Imaging is a provider of medical imaging aftermarket parts, systems, and field service solutions. DirectMed Imaging was founded in 2011 and is based in Poway, California.

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Buyer(S) 1

Buyer
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 48 of 48
Sector (Medical Products) 5 of 5
Type (Secondary Buyout) 10 of 10
State (California) 8 of 8
Country (United States) 47 of 47
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-25 BioMatrix Specialty Pharmacy

Plantation, Florida, United States

BioMatrix Specialty Pharmacy offers a comprehensive pharmacy with a wide range of services across hemophilia, transplantation, specialty, and digital health technology solutions. BioMatrix Specialty Pharmacy is a provider for patients with blood disorders, organ transplants and other chronic and acute diseases and conditions. BioMatrix Specialty Pharmacy was founded in 2015 and is based in Plantation, Florida.

Buy -

Seller(S) 2

SELLER

NMS Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

New MainStream Capital is a private investment firm that specializes in strategic equity investments and leveraged buyouts. The Firm targets middle-market growth companies throughout the US. New Mainstream focuses on companies with experienced management, high operating margins, and strong cash flows. New MainStream looks to invest $25 to $75 million in companies valued up to $150 million. The Firm will consider opportunities in a variety of sectors, however the Firm has a special interest in healthcare services, consumer products/services, and specialized business services. New MainStream Capital was formed in 2010. The Firm is based in New York City with an additional office in Dallas, Texas.


DEAL STATS #
Overall 9 of 9
Sector (Medical Products) 1 of 1
Type (Secondary Buyout) 4 of 4
State (California) 1 of 1
Country (United States) 8 of 8
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-18 Flourish Research

Apex, North Carolina, United States

Flourish Research is a clinical trial site network focused on performing the highest quality trials for sponsors and CROs and providing patients with an exceptional clinical experience. Flourish Research was founded in 2021 and is based in Apex, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-15 CSL Consulting

Burlington, Massachusetts, United States

CSL Consulting is an owner’s representative, project management, and construction mitigation firm, advising clients to ensure the successful execution of their strategic capital initiatives from concept planning and design to budgeting, construction oversight, and project closeout. The Company provides services to a diverse mix of customer end-markets across the Eastern U.S., including higher education, private K-12, corporate, hospitality, healthcare, development, infrastructure, nonprofit, and life sciences. CSL Consulting is based in Burlington, Massachusetts.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States

Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 52 of 52
Sector (Medical Products) 5 of 5
Type (Secondary Buyout) 25 of 25
State (California) 2 of 2
Country (United States) 52 of 52
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-08 Trexon

Macedonia, Ohio, United States

Trexon is a designer and specialty distributor of high performance, ruggedized wire, cable, connectors, and assembled products. TPC's highly engineered products transmit power and signal in critical applications such as robotic manufacturing systems and temporary power for auto plants, mines, factories, and other harsh industrial environments. Trexon was founded in 1979 and is based in Macedonia, Ohio.

Sell -