Morning Hubsters,
Happy Fri-yay! John R Fischer, here in the New York newsroom with the US Wire.
After suffering a pinched nerve last year, I am grateful for orthopedic care providers. Demand for such services is on the rise, and private equity has picked up on that. It has attracted the likes of Welsh, Carson, Stowe & Anderson, Great Point Partners and Hildred Capital. I’ve got a five-deal listicle highlighting the many trends behind this drive in investments.
We then shift our attention to eye care in Friday Focus. We start with an add-on deal by Gryphon Investors, followed by THL Partners’outlook report on biopharma R&D investments.
In recognition of Pride Month, we then delve into Alpine Investors’ Pride Employee Resource Group, launched last year to provide a space of support, visibility and advocacy for LGBTQ+ employees and allies at the San Francisco private equity firm. I'll share an interview with Jack Armstrong, the firm’s head of capital markets and strategic finance, about the initiative.
Muscle and bones
As populations age and obesity rates increase, the need for orthopedic services grows. Private equity has taken note of the demand, with investors showing particular interest in areas such as joint replacement, physical therapy, sports medicine and spinal surgery.
Starting with the most recent, I rounded up five PE-backed deals in orthopedics from the past four months.
Upgrade to the premium version of the Wire to learn more about trends driving PE-backed deals in the sector.
Friday Focus
Earlier this week, Vision Innovation Partners (VIP), backed by Gryphon Investors, announced the acquisition of Eye Care of Delaware, a an eye surgery and related treatments provider in the Mid-Atlantic area.
To read about more deals like this, check out my colleague Sophie Rose’s round-up of six eye care deals in October.
Premium subscribers of the Wire can read more about Gryphon’s investment in VIP.
Increased spending
Despite market volatility, 61 percent of biopharma leaders expect to increase research and development investments, with more than half expecting over 5 percent growth, according to THL Partners’ Biopharma R&D Outlook Survey. If true, this could add to the many incentives for PE to back and scale platforms in biopharma services such as contract research organizations and contract development and manufacturing organizations.
To learn more about deals and trends driving resiliency in biopharma service investments, check out my recent listicles on CROs and CDMOs.
Premium Wire readers can read more of my insights from the report.
Authentic and visible
Alpine Investors launched the firm’s Pride Employee Resource Group last year to provide a space of support, visibility and advocacy for LGBTQ+ employees and allies at the San Francisco private equity firm. The group is led by Jack Armstrong, the firm’s head of capital markets and strategic finance. In recognition of Pride month, PE Hub spoke with Armstrong about the initiative. Here is an excerpt from that conversation:
Upgrade to the premium version of the Wire to read an excerpt from the interview.
That’s it from me. Before I sign off, I would like to wish everyone a Happy Pride, especially here in New York, where festivities are underway this weekend. Nina Lindholm will be back with the Europe Wire on Monday, and MK Flynn will be in the US chair.
Cheers,
John
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