M&A Deal Summary

The Carlyle Group, TT Capital Partners and Patient Square Capital Acquire CorroHealth

On September 30, 2020, private equity firm The Carlyle Group, growth capital firm TT Capital Partners and private equity firm Patient Square Capital acquired business services company CorroHealth

Acquisition Highlights
  • This is The Carlyle Group’s 31st, TT Capital Partners’ 1st and Patient Square Capital’s 1st transaction in the Business Services sector.
  • This is The Carlyle Group’s 326th, TT Capital Partners’ 9th and Patient Square Capital’s 1st transaction in the United States.
  • This is The Carlyle Group’s 50th, TT Capital Partners’ 1st and Patient Square Capital’s 1st transaction in Texas.

M&A Deal Summary
Date 2020-09-30
Target CorroHealth
Sector Business Services
Buyer(s) The Carlyle Group
TT Capital Partners
Patient Square Capital
Deal Type Consolidation

Target

CorroHealth

Plano, Texas, United States
CorroHealth is a provider of clinically led healthcare analytics and technology-driven solutions, dedicated to positively impacting the financial performance of physicians, hospitals, and health plans. CorroHealth was founded in 2020 and is based in Plano, Texas.

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Buyer(S) 3

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 678 of 744
Sector (Business Services) 31 of 34
Type (Consolidation) 4 of 5
State (Texas) 50 of 51
Country (United States) 326 of 349
Year (2020) 16 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 Visionary RCM

Chennai, India

Visionary RCM is a provider of risk adjustment and revenue cycle management services to the healthcare industry. Visionary RCM was founded in 2006 and is based in Chennai, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 AA Insurance

Dublin, Ireland

AA Insurance is a roadside assistance provider and insurance intermediary. It provides roadside repair and Rescue, and Motor, Home, Travel & Life insurance. It also provides technical and audit services notably for the Road Safety Authority. AA Insurance was founded in 2016 and is based in Dublin, Ireland.

Sell -
Buyer

TT Capital Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

TT Capital Partners is the investment arm of financial advisory firm TripleTree. TT Capital Partners invests in emerging healthcare technology and services companies with the potential to be market leaders across disruptive themes in healthcare. TT Capital Partners is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 10 of 15
Sector (Business Services) 1 of 2
Type (Consolidation) 1 of 1
State (Texas) 1 of 1
Country (United States) 9 of 14
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 MacroHealth

Kirkland, Washington, United States

MacroHealth is a health information technology company that provides healthcare network optimization and claims settlement services to insurers, third-party administrators (TPAs), provider-sponsored health plans, and other payers. MacroHealth was founded in 2017 and is based in Kirkland, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 The Emily Program

St. Paul, Minnesota, United States

The Emily Program provides personalized eating disorder treatment for teens, young adults, and adults. It offers comprehensive psychological, nutritional, medical, and psychiatric care at multiple locations across the Minneapolis-St. Paul area, Duluth, MN, Spokane, WA, South Sound (Lacey), WA and Seattle, WA, Pittsburgh, PA, and Cleveland, OH. The Emily Program was founded in 1993 and is based in St. Paul, Minnesota.

Sell -
Buyer

Patient Square Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2020
Size Small
Type Sector Focused
DESCRIPTION

Patient Square Capital is a private investment firm specializing in the healthcare sector. The Firm seeks opportunities to invest broadly across the healthcare industry, including technology-enabled services, biopharmaceuticals, the pharmaceutical value chain, medical devices, diagnostics, providers, digital health and consumer health. Patient Square Capital was formed in 2020 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 1 of 9
Sector (Business Services) 1 of 1
Type (Consolidation) 1 of 3
State (Texas) 1 of 3
Country (United States) 1 of 9
Year (2020) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-09 Summit Behavioral Healthcare

Franklin, Tennessee, United States

Summit Behavioral Healthcare provides substance use disorder and acute psychiatric care at 24 facilities across 16 states. Summit Behavioral Healthcare was founded in 2013 and is based in Franklin, Tennessee.

Buy -
Mergr

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