Buyer: Partners Group
Seller: Axia Women’s Health
Sector: Healthcare and Life Sciences, Revenue Cycle Management
Axia Women’s Health, a Voorhees-based provider of business services to health care practices, has been acquired by a global private markets firm in a deal reportedly valued at nearly $800 million.
Partners Group is acquiring a majority equity stake in the business from Audax Private Equity, it said in a news release, with Axia’s management team and physician partners retaining a substantial minority stake.
The PE Hub website valued the deal at almost $800 million in a report. “We have taken a mission-driven, patient-centric approach to expansion that is focused on building an integrated care model to deliver physician-led care of the highest quality and service level,” Axia CEO Charlie Choi said in a prepared statement. “We believe Partners Group’s ability to help build our platform and invest in expansion of care modalities makes the firm an ideal growth partner.”
Axia provides a platform of nonclinical business and administrative support services to a network of physician practices nationwide. Partners said it intends to draw on its experience transforming other multisite health care businesses to support Axia going forward.
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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