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Galen Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

Galen Partners’ most common sectors for investment arehealthcare services (25%) and life science (21%) . The Firm’s most common investment types include venture (45%) and buyout (lbo, mbo, mbi) (32%). In total, Galen Partners has invested in 14 US states and 2 different countries.

In the last 3 years, Galen Partners has exited 1 company. The Firm’s most common exit type is trade sale (85%). Galen Partners’ largest (disclosed) exit occurred in 2020 when it sold InTouch Health for $600M.

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M&A Summary

  • M&A Total Activity55
    • M&A Buy Activity29
    • M&A Sell Activity26
  • Total Sectors Invested 9
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 41
  • M&A Advisors 2

Galen Partners

680 Washington Boulevard, 10th Floor,
Stamford, Connecticut 06901
United States
(203) 653-6400
www.galen.com
info@galen.com

Galen Partners is a private equity firm that targets investments in the healthcare industry. Areas within healthcare that Galen will consider include medical devices & technology, specialty pharmaceuticals, and information technology/services. Galen typically invests between $10 and $30 million per transaction in companies with a proprietary product or service that have attained revenues above $10 million. Prospective transactions include growth equity investments, complete buyouts, family business or other recapitalizations, going-private transactions, roll-overs of a portion of existing equity, and management buyouts. Galen Partners was formed in 1990 and is based in Stamford, Connecticut.


Investment Criteria

Sectors of Interest: Consumer Products, Healthcare Services, Information Technology, Life Science, Medical Products

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, PIPE, Secondary Buyout, Stake Purchase, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 10 100
Target EBITDA - 9
Investment Size 10 30
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.0/yr) # 29 - - - - - 29
Sell (0.6/yr) # 23 2 1 - - - 26
vol $2.2B $475M $2.7B
  55

Most Recent M&A

Company Date Value Type
lifeIMAGE, Inc. 2022-09-15 - Trade Sale
Newton, Massachusetts · www.lifeimage.com
Sharecare, Inc. 2021-06-29 - SPAC
Atlanta, Georgia · www.sharecare.com
Cardiva Medical, Inc. 2021-01-20 475M USD Trade Sale
Sunnyvale, California · www.cardivamedical.com
Evolve Treatment Centers 2020-01-22 - Buyout (LBO, MBO, MBI)
El Segundo, California · www.evolvetreatment.com
InTouch Health, Inc. 2020-01-12 600M USD Trade Sale
Santa Barbara, California · www.intouch-health.com
SMP Pharmacy Solutions LLC 2018-07-19 - Recapitalization
Miami, Florida · www.smppharmacy.com
Ajinomoto Cambrooke, Inc. 2017-11-09 64M USD Trade Sale
Ayer, Massachusetts · www.cambrooke.com
Consensys Imaging Service, Inc. 2017-09-28 - Trade Sale
Cary, Illinois · www.consensysimaging.com
CDx Diagnostics, Inc. 2017-07-11 - Recapitalization
Suffern, New York · www.cdxdiagnostics.com
Tactile Systems Technology, Inc. 2016-07-27 - IPO
Minneapolis, Minnesota · www.tactilesystems.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 1 (20%) - 7 (24%) -
Life Science 1 (20%) - 6 (21%) -
Medical Products 1 (20%) - 5 (17%) -
Business Services - - 4 (14%) -
Consumer Services 2 (40%) - 2 (7%) -
Information Technology - - 2 (7%) -
Insurance - - 1 (3%) -
Internet Software and Services - - 1 (3%) -
Software - - 1 (3%) -
Total 5 - 29 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 4 (80%) - 28 (97%) -
  California 2 (40%) - 6 (21%) -
  Pennsylvania - - 3 (10%) -
  New Jersey - - 3 (10%) -
  Massachusetts - - 3 (10%) -
  Georgia - - 3 (10%) -
  Illinois - - 2 (7%) -
  New York 1 (20%) - 1 (3%) -
  Florida 1 (20%) - 1 (3%) -
  Virginia - - 1 (3%) -
  Texas - - 1 (3%) -
  Tennessee - - 1 (3%) -
  Minnesota - - 1 (3%) -
  Indiana - - 1 (3%) -
  Colorado - - 1 (3%) -
Switzerland 1 (20%) - 1 (3%) -
Domestic 4 (80%) - 28 (97%) -
Cross-border 1 (20%) - 1 (3%) -
Total 5 - 29 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 1 (20%) - 13 (45%) -
Buyout (LBO, MBO, MBI) 1 (20%) - 9 (31%) -
Growth Capital 1 (20%) - 3 (10%) -
Recapitalization 2 (40%) - 2 (7%) -
PIPE - - 1 (3%) -
Stake Purchase - - 1 (3%) -
Total 5 - 29 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 14 (54%) 2.3B (85%)
Trade Sale 8 (31%) 406M (15%)
Secondary Sale 2 (8%) -
IPO 1 (4%) -
SPAC 1 (4%) -
Total 26 $2.7B

Top M&A Advisors

Legal Deals
Cooley
 1
Mintz Levin Cohn Ferris Glovsky and Popeo
 1

Deal Values

sell # Total
$100M to $1B 8 $2.5B
< $100M 3 $174M
TOTAL $2.7B
Largest InTouch Health, Inc.
$600M (2020-01-12)

M&A Connections

Deals
Exited to
Investor(s)
12%
3 (12%)
Strategic(s)
85%
22 (85%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Large

PE Assets

1.0B USD

Established

1990

Specialist/Generalist

Specialist

Leadership

John Wilkerson

Founder & Senior Advisor

Bruce Wesson

Founding Partner & Senior Advisor

Stacey Bauer

CFO

David Jahns

Managing Director

Zubeen Shroff

Managing Director

FAQ

When was Galen Partners founded?

Galen Partners was founded in 1990.

What type of investor is Galen Partners?

Galen Partners is a growth capital firm.

Where is Galen Partners headquartered?

Galen Partners is headquartered in Stamford, Connecticut.

How much capital does Galen Partners have under management?

Galen Partners has 1.0B USD under management.

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