Divestiture • Healthcare Services

Madison Industries Acquires Elevate Healthcare

On October 24, 2023, private equity firm Madison Industries acquired healthcare services company Elevate Healthcare from CAE

Acquisition Context
  • This is Madison Industries’ 1st transaction in the Healthcare Services sector.
  • This is Madison Industries’ 39th transaction in the United States.
  • This is Madison Industries’ 2nd transaction in Florida.

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M&A Deal Summary

Date October 24, 2023
Target Elevate Healthcare
Sector Healthcare Services
Buyer(s) Madison Industries
Sellers(s) CAE
Deal Type Divestiture

Target Company

Elevate Healthcare

Sarasota, Florida, United States
Elevate Healthcare is a medical simulation company with a mission to improve healthcare education and patient safety. It designs and builds products for patient simulation, surgical simulation, ultrasound simulation, and clinical simulation management. Elevate Healthcare was founded in 2009 and is based in Sarasota, Florida.
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Buyer Overview 1

Buyer

Madison Industries

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
Size Large
Type Sector Focused
DESCRIPTION

Madison Industries is a privately held investment holding firm that targets growth investments in and acquisitions of industrial manufacturing companies. Madison prefers businesses with a defensible market niche, established technology, and significant cash-flow growth potential. Madison will also consider turnaround situations. Target opportunities generally have sales between $50 million and $2 billion. Madison Industries is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 47 of 50
Sector: Healthcare Services 1 of 1
Type: Divestiture 17 of 17
State: Florida 2 of 2
Country: United States 39 of 41
Year: 2023 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-24 Tricon

Irondale, Alabama, United States

Tricon is a provider of abrasion-resistant steel products and expertise to the power, mining, quarrying, construction, timber, paper, and allied industries. Tricon was formed in 1968 and is based in Irondale, Alabama.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-14 SimX

Mountain View, California, United States

SimX is a virtual reality medical simulation training platform and home to the largest library of VR-simulated patient encounters. Developed by clinicians for clinicians, SimX is currently used to train doctors, nurses, EMS, healthcare providers, and military personnel to prepare through more accessible, immersive, and affordable simulated patient encounters. SimX was formed in 2013 and is based in Mountain View, California.

Buy -

Seller Profile 1

SELLER

CAE

Saint-Laurent, Quebec, Canada

Category Company
Founded 1947
Sector Defense
Employees13,000
Revenue 4.7B CAD (2025)
DESCRIPTION

CAE engages in modeling, simulation, and training for civil aviation and defense. It offers civil aviation, military, and helicopter training services in more than 45 locations worldwide and trains approximately 100,000 crew members yearly. CAE was founded in 1947 and is based in Saint-Laurent, Quebec.


Deal Context for Seller #
Overall 1 of 1
Sector: Healthcare Services 1 of 1
Type: Divestiture 1 of 1
State: Florida 1 of 1
Country: United States 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-28 Sabre - AirCentre

Southlake, Texas, United States

Sabre's AirCentre is a highly valuable suite of flight and crew management and optimization solutions. Operations business includes approximately 500 employees located in 13 countries, including 5 hubs. It delivers software solutions to more than 150 airline customers.

Buy $393M