M&A Deal Summary

WindRose Health Investors Acquires Altruix

On January 5, 2022, private equity firm WindRose Health Investors acquired life science company Altruix

Acquisition Highlights
  • This is WindRose Health Investors’ 5th transaction in the Life Science sector.
  • This is WindRose Health Investors’ 35th transaction in the United States.
  • This is WindRose Health Investors’ 3rd transaction in Maryland.

M&A Deal Summary
Date 2022-01-05
Target Altruix
Sector Life Science
Buyer(s) WindRose Health Investors
Deal Type Recapitalization
Advisor(s) William Blair (Financial)
McDermott Will & Emery (Legal)

Target

Altruix

Annapolis, Maryland, United States
Altruix is a closed-door specialized pharmacy that primarily serves individuals diagnosed with severe and persistent mental illnesses in the Mid-Atlantic region. The Company serves this population through high-touch distribution relationships with community-based behavioral health agencies and long-term care facilities, enabling improved medication adherence and care management for complex and costly patient populations. Altruix is based in Annapolis, Maryland.

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Buyer(S) 1

Buyer

WindRose Health Investors

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 2.5B USD
Size Large
Type Sector Focused
DESCRIPTION

MTS Health Investors LLC is a specialist private investment firm focused on opportunities in the services sectors of the healthcare industry. Specific areas of interest include managed care/health insurance, healthcare providers, distributors of medical/products and providers of outsourced services. MTS also invests in low-technology medical product manufacturers. MTS makes equity investments in US based companies valued between $25 and $300 million. Prospective transaction types include buyouts, divestitures, recapitalizations, take-privates, acquisition financings, and growth financings. MTS Health Investors was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 35 of 38
Sector (Life Science) 5 of 5
Type (Recapitalization) 16 of 17
State (Maryland) 3 of 3
Country (United States) 35 of 38
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 StateServ

Mesa, Arizona, United States

StateServ is a provider of durable medical equipment (DME) benefit management solutions to the post-acute care market. The company's technology-enabled platform provides DME cost containment solutions to hospices and other post-acute providers, delivering high-quality patient care, tangible cost savings, and operational efficiencies. its mission is to use technology and optimized processes to help its customers provide the best possible care for patients while giving them the tools they need to drive efficiency. StateServ was formed in 2004 and is based in Mesa, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-06 Bridgeway Benefit Technologies

Baltimore, Maryland, United States

Bridgeway Benefit Technologies is a provider of specialized business administration software for the Taft-Hartley community, providing technology solutions for fund offices, national multiemployer plans, and third-party administrators across the United States and Canada. Bridgeway Benefit Technologies was founded in 1977 and is based in Baltimore, Maryland.

Sell -
Mergr

Product

Company

Legal