M&A Deal Summary

Veritas Capital Acquires Coronis Health

On August 4, 2022, private equity firm Veritas Capital acquired information technology company Coronis Health from 424 Capital and Eagle Private Capital

Acquisition Highlights
  • This is Veritas Capital’s 8th transaction in the Information Technology sector.
  • This is Veritas Capital’s 36th transaction in the United States.
  • This is Veritas Capital’s 1st transaction in Maryland.

M&A Deal Summary

Date 2022-08-04
Target Coronis Health
Sector Information Technology
Buyer(s) Veritas Capital
Sellers(s) 424 Capital
Eagle Private Capital
Deal Type Consolidation
Advisor(s) Guggenheim Securities (Financial)

Target

Coronis Health

Sykesville, Maryland, United States
Coronis Health is a scaled revenue cycle management platform providing end-to-end technology-enabled solutions to a diverse set of healthcare providers across the US. Coronis Health was founded in 2015 and is based in Sykesville, Maryland.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States

Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.


DEAL STATS #
Overall 36 of 41
Sector (Information Technology) 8 of 9
Type (Consolidation) 1 of 1
State (Maryland) 1 of 1
Country (United States) 36 of 40
Year (2022) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 Epiq Solutions

Rolling Meadows, Illinois, United States

Epiq Solutions develops cutting edge RF tools that provide situational awareness and detailed insight into RF environments. The Company offers a portfolio of commercial-off-the-shelf hardware and differentiated software solutions that leverage open-architecture standards, allowing government and enterprise customers to rapidly insert technology and accelerate modernization efforts. Epiq Solutions was founded in 2009 and is based in Rolling Meadows, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 Chromalloy

Palm Beach Gardens, Florida, United States

Chromalloy is an independent provider of aftermarket engine parts and repairs to the commercial aerospace, military aerospace, and energy end markets. The Company's capabilities include advanced engineering, design, manufacturing, and repair solutions. Chromalloy has facilities in North America, Europe, and Asia. Chromalloy is based in Palm Beach Gardens, Florida.

Buy -

Seller(S) 2

DESCRIPTION

424 Capital is a growth capital partner that makes control equity investments in lower middle-market companies within B2B Tech-Enabled Services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. Focusing primarily on investments in North America, we invest in companies that are profitable, growing, and that align with our values of honesty, integrity, and impact. 424 Capital was founded in 1995 and is headquartered in Wakefield, Massachusetts.


DEAL STATS #
Overall 8 of 10
Sector (Information Technology) 3 of 4
Type (Consolidation) 1 of 1
State (Maryland) 1 of 1
Country (United States) 7 of 9
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 MedHQ

Westchester, Illinois, United States

MedHQ provides human resources and financial management services to ambulatory surgery centers and physician practices nationwide. Within its HR offering, the company provides payroll, tax, benefits, insurance, credentialing, and consulting services to its clients via a tech-enabled platform. It also provides customized accounting services including monthly reporting, KPI tracking, forecasting, AP automation, and profitability analysis. MedHQ was founded in 2003 and is based in Westchester, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 CSS Health

Thonotosassa, Florida, United States

CSS Health combines Medicine-On-Time, the innovative multi-dose blister-pack drug compliance packaging for pharmacies, and Clinical Support Services, an independent Medication Therapy Management patient outreach platform for health plans, in a unique end-to-end adherence offering designed to help patients more effectively take their medications as directed. CSS Health was formed in 1999 and is based in Thonotosassa, Florida.

Sell -
SELLER

Eagle Private Capital

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Eagle Private Capital (EPC) makes private equity and mezzanine investments in middle-market companies. The Firm typically invests $4 to $15 million per investment. EPC looks to partner with management or other private equity investors to provide growth or change of control capital. EPC is based in St. Louis, Missouri.


DEAL STATS #
Overall 44 of 49
Sector (Information Technology) 2 of 2
Type (Consolidation) 2 of 2
State (Maryland) 1 of 1
Country (United States) 44 of 49
Year (2022) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-07 Artifact Uprising

Denver, Colorado, United States

Artifact Uprising is a provider of printed photo products with elevated quality, thoughtful design, and responsibly-sourced materials. Artifact Uprising was founded in 2012 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 CSS Health

Thonotosassa, Florida, United States

CSS Health combines Medicine-On-Time, the innovative multi-dose blister-pack drug compliance packaging for pharmacies, and Clinical Support Services, an independent Medication Therapy Management patient outreach platform for health plans, in a unique end-to-end adherence offering designed to help patients more effectively take their medications as directed. CSS Health was formed in 1999 and is based in Thonotosassa, Florida.

Sell -