Private Equity Health Care Acquisitions – December 2020

The Private Equity Stakeholder Project tracked numerous health care acquisitions in December 2020, noting a trend of consolidation in the dental services industry and raising concerns over the track record of specific firms like H.I.G. Capital.

• H.I.G. Capital has expanded its health care portfolio by partnering with the Center for Digestive Health to create Pinnacle GI Partners in Michigan and previously acquiring St. Croix Hospice, which operates 35 branches across six Midwestern states.
• The Private Equity Stakeholder Project expresses concern regarding H.I.G. Capital's health care investments, citing an ongoing Federal lawsuit for billing fraud involving its subsidiary South Bay Community Services and over a thousand lawsuits against its prison health company, Wellpath, for negligence and understaffing.
• Private equity firms are heavily consolidating the U.S. dental services industry, with nine of the top ten dental services organizations (DSOs) currently owned by private equity. A specific example is Gryphon Investors' Smile Brands, which acquired Midwest Dental in December 2020, bringing its total employee count to 8,000 across 420 affiliated locations in 17 states.
• Gryphon Investors performed a dividend recapitalization of Smile Brands in 2018, which added $300 million in debt to the company to pay a dividend to the firm.

APA

Private Equity Stakeholder Project (2021). Private Equity Health Care Acquisitions – December 2020. https://pestakeholder.org/news/private-equity-health-care-acquisitions-december-2020-2/

Chicago

Private Equity Stakeholder Project. Private Equity Health Care Acquisitions – December 2020. 2021. https://pestakeholder.org/news/private-equity-health-care-acquisitions-december-2020-2/.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=Private Equity Health Care Acquisitions – December 2020 |date=6 January 2021 |url=https://pestakeholder.org/news/private-equity-health-care-acquisitions-december-2020-2/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderproject2021private, author = {{Private Equity Stakeholder Project}}, title = {{Private Equity Health Care Acquisitions – December 2020}}, institution = {Private Equity Stakeholder Project}, year = {2021}, month = jan, url = {https://pestakeholder.org/news/private-equity-health-care-acquisitions-december-2020-2/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }