| | | Carlyle makes strategic investment in TriNetx, Blackstone approaches $2.4bn deal for Precision Medical Group, Odyssey shakes hands on $500m-plus deal for Linden’s ProPharma | | | | Tuesday, September 22, 2020 | | | | | Morning!
Big scoop from Sarah Pringle today on PE Hub: Blackstone Group is the winning bidder for Precision Medical Group in a deal that could command an enterprise value of about $2.4 billion. The deal is not signed yet, however.
The sales process for Precision Medical was poised to hit the market in March, but was probably pushed back because of the pandemic, Sarah wrote.
Existing investors TPG and Berkshire Partners intend to roll equity in the deal to remain minority investors in the company. This is a theme we've explored this year -- GPs finding ways to keep their hooks in certain assets to be able to continue to ride growth, while delivering proceeds to limited partners in older funds.
Check it out here. |
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| | | Top Scoops | | | | Carlyle Group made a strategic investment in TriNetX, a global health research network connecting drug discovery and development from pharma company to study site. Carlyle made the investment from Carlyle Partners VII. Read more here. |
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| | Campaign contributions from private equity show that the industry is most concerned with maintaining Republican majority in the Senate -- even as much of the industry has supported Democrat Joe Biden in the presidential race.
The industry is concerned about emboldened progressives pushing legislation unfriendly to private equity through Congress, writes Justin Mitchell on Buyouts this week. Read it here.
Have a great day! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.
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