Investment Summary

Linden Capital Partners and Varsity Healthcare Partners Invest In Aspirion

On June 21, 2022, private equity firms Linden Capital Partners and Varsity Healthcare Partners invested in information technology company Aspirion from Aquiline Capital Partners

Investment Highlights
  • This is Linden Capital Partners’ 1st and Varsity Healthcare Partners’ 1st transaction in the Information Technology sector.
  • This is Linden Capital Partners’ 46th and Varsity Healthcare Partners’ 16th transaction in the United States.
  • This is Linden Capital Partners’ 2nd and Varsity Healthcare Partners’ 1st transaction in Georgia.

Investment Summary
Date 2022-06-21
Target Aspirion
Sector Information Technology
Investor(s) Linden Capital Partners
Varsity Healthcare Partners
Sellers(s) Aquiline Capital Partners
Deal Type Stake Purchase
Advisor(s) Ropes & Gray (Legal)

Target

Aspirion

Columbus, Georgia, United States
Aspirion is a specialty revenue cycle management vendor focused on helping hospitals and health systems process complex healthcare claims. Aspirion’s current focus is on worker's compensation, motor vehicle accident, and veterans affairs cases, which are time- and labor-intensive to process relative to traditional commercial healthcare claims. Aspirion was founded in 2006 and is based in Columbus, Georgia.

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Investor(S) 2

Investor

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 46 of 48
Sector (Information Technology) 1 of 1
Type (Stake Purchase) 2 of 2
State (Georgia) 2 of 2
Country (United States) 46 of 47
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-10 Advarra

Columbia, Maryland, United States

Advarra is a provider of IRB, IBC, and compliance consulting services in North America. Fully accredited by AAHRPP, the company serves pharmaceutical, biotechnology, and medical device research sponsors and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and patient advocacy groups. Advarra was founded in 1983 and is based in Columbia, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 LifeStyles

Singapore, Singapore

LifeStyles is specialized in sexual wellness sector, possessing a broad product range. LifeStyles was founded in 1905 and is based in Singapore.

Buy -
Investor

Varsity Healthcare Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

Varsity Healthcare Partners is a specialist private equity firm focused on the healthcare sector. Varsity seeks companies that solve fundamental problems for the healthcare industry with a focus on multi-site providers and critical outsourced services to providers and payors. Prospective companies are profitable with $5 to $15 million of EBITDA and are typically founder owned. Varsity Healthcare Partners was formed in 2012 and has offices in Los Angeles, California and Stamford, Connecticut.

DEAL STATS #
Overall 16 of 19
Sector (Information Technology) 1 of 1
Type (Stake Purchase) 1 of 1
State (Georgia) 1 of 1
Country (United States) 16 of 19
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 Probo Medical

Tampa, Florida, United States

Probo Medical is a provider of equipment sales, part sales, equipment rentals, depot repair service, equipment installation and de-installation, and field-based repair services. Probo Medical was founded in 2014 and is based in Tampa, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-10 Beghou Consulting

Evanston, Illinois, United States

Beghou Consulting  specializes in helping life sciences companies especially emerging pharma companies establish and manage commercial operations to better market and sell therapies. Beghou Consulting was founded in 1993 and is based in Evanston, Illinois.

Buy -

Seller(S) 1

SELLER

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 22 of 27
Sector (Information Technology) 4 of 5
Type (Stake Purchase) 1 of 1
State (Georgia) 2 of 2
Country (United States) 15 of 18
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-12 Distinguished

New York, New York, United States

Distinguished Programs is a national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Real Estate, Community Associations, Hospitality, and Restaurants. Distinguished was founded in 1995 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-17 In-Shape

Stockton, California, United States

In-Shape owns and operates health club companies with a vision for helping people stay healthy and have fun. In-Shape was founded in 1981 and is based in Stockton, California.

Sell -
Mergr

Product

Company

Legal