Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Retina Consultants of Southern Colorado (“RCSC”) in its acquisition by Retina Consultants of America (“RCA”), a comprehensive physician management services organization. With six board-certified physicians and three clinic locations, RCSC’s partnership bolsters RCA’s Colorado footprint and furthers its influence in innovative retina research across the U.S. RCA now has a total network of more than 235 physicians across more than 300 locations.
Established in 1987, RCSC physicians specialize in the treatment of retinal diseases, laser procedures and surgery, using state-of-the-art diagnostic testing equipment, lasers, surgical instruments, research, and studies to further enhance each diagnosis, condition, and treatment. In addition to delivering exceptional patient care, RCSC’s renowned team of physicians are recognized leaders for their publications and participation in retinal research and clinical trials. Together with RCA, the physicians, and dedicated staff of RCSC look forward to continuing their involvement in groundbreaking clinical studies in an effort to ensure patients receive the latest innovative procedures and therapies.
"Retina Consultants of Southern Colorado is thrilled to partner with RCA to achieve synergy in providing the highest quality and most technologically advanced retina care along with many of the most prestigious, innovative, and forward-thinking practices in the nation,” said Adam Martidis, M.D., Retina Consultants of Southern Colorado.
“Cascadia was pivotal in securing a highly successful outcome in the acquisition of our medical practice,” continued Dr. Martidis. “Their actions and guidance can best be described as smart, strategic, patient, and efficient. There is no way we could have achieved the outstanding result in our deal without their unparalleled professionalism, strict attention to detail, and stellar advocacy.”
“Cascadia is pleased to have played a part in orchestrating a transaction uniting two exceptionally driven parties,” said Vitaliy Marchenko, Cascadia Director. “We are excited to have helped pave the way for this remarkable outcome and an even more promising future partnership.”
Physician partnership and consolidation has become one of the dominant recent trends in the healthcare landscape. Cascadia has been a key advisor to clinics and doctors interested in exploring or taking advantage of this market dynamic. Our team has worked with retina, ophthalmology, gastroenterology, fertility, dermatology, cardio and vascular, and many other physicians interested in exploring strategic opportunities.
" ["post_title"]=> string(108) "Cascadia Advises Retina Consultants of Southern Colorado in its Acquisition by Retina Consultants of America" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(108) "cascadia-advises-retina-consultants-of-southern-colorado-in-its-acquisition-by-retina-consultants-of-america" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2023-09-14 11:20:44" ["post_modified_gmt"]=> string(19) "2023-09-14 18:20:44" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(60) "https://www.cascadiacapital.com/?post_type=news&p=18033" ["menu_order"]=> int(0) ["post_type"]=> string(4) "news" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [2]=> object(WP_Post)#2928 (24) { ["ID"]=> int(18034) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2023-08-31 09:43:59" ["post_date_gmt"]=> string(19) "2023-08-31 16:43:59" ["post_content"]=> string(0) "" ["post_title"]=> string(39) "Retina Consultants of Southern Colorado" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(39) "retina-consultants-of-southern-colorado" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2023-09-21 08:58:02" ["post_modified_gmt"]=> string(19) "2023-09-21 15:58:02" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(68) "https://www.cascadiacapital.com/?post_type=transactions&p=18034" ["menu_order"]=> int(0) ["post_type"]=> string(12) "transactions" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [3]=> object(WP_Post)#2931 (24) { ["ID"]=> int(17858) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2023-07-27 12:38:53" ["post_date_gmt"]=> string(19) "2023-07-27 19:38:53" ["post_content"]=> string(340) "This industry newsletter includes industry trends, market insights, key transaction highlights, and more.
If you’d like to connect and discuss more about our practice or our insights, please feel free to reach out to Adam Stormoen.
" ["post_title"]=> string(47) "Medical Equipment Services Newsletter - 1H-2023" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(40) "healthcare-technology-newsletter-h1-2023" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2023-07-27 13:09:19" ["post_modified_gmt"]=> string(19) "2023-07-27 20:09:19" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(60) "https://www.cascadiacapital.com/?post_type=news&p=17858" ["menu_order"]=> int(0) ["post_type"]=> string(4) "news" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [4]=> object(WP_Post)#2935 (24) { ["ID"]=> int(577) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2023-04-25 08:00:59" ["post_date_gmt"]=> string(19) "2023-04-25 15:00:59" ["post_content"]=> string(892) "The Healthcare group provides M&A and capital raising services to healthcare clients with sub-vertical coverage across the healthcare ecosystem. We maintain strong relationships with key industry players, and with many of the most well-recognized buyers and investors in healthcare.
Emerging trends in the healthcare industry are driven by consumers demanding higher quality care with cost transparency, integrated health information and better provider access and communication. The solutions lie at the intersection of healthcare services, equipment, and technology, where innovation provides for better, more accessible care at lower costs. Cascadia’s healthcare team is focused on leveraging our expertise, knowledge and relationships to position our clients to optimize value.
" ["post_title"]=> string(10) "Healthcare" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(10) "healthcare" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2023-09-14 11:38:28" ["post_modified_gmt"]=> string(19) "2023-09-14 18:38:28" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(64) "https://www.cascadiacapital.com/?post_type=industries&p=577" ["menu_order"]=> int(0) ["post_type"]=> string(10) "industries" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [5]=> object(WP_Post)#2938 (24) { ["ID"]=> int(519) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2023-04-25 05:41:02" ["post_date_gmt"]=> string(19) "2023-04-25 12:41:02" ["post_content"]=> string(1103) "Adam Stormoen is a Managing Director and Group Head of Healthcare at Cascadia Capital, focused on serving clients in Medical Products and Healthcare Services. Adam brings 20 years of investment banking experience advising and financing middle market private and public companies. Throughout his career he has closed several dozen M&A transactions, as well as public and private capital raises for clients across a wide array of Healthcare sub-verticals, including Medical Devices, Healthcare Services and Healthcare Technology.
Prior to joining Cascadia, Adam was a Managing Director at Duff & Phelps in the Healthcare Practice. Previously Adam provided investment banking services to clients while at Roth Capital Partners, Dougherty & Company, LLC and McGladrey Capital Markets.
Adam holds a BBA with a focus on Finance, Investments & Banking from the University of Wisconsin-Madison where he was a member of the football team.
" ["post_title"]=> string(13) "Adam Stormoen" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(13) "adam-stormoen" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2023-09-05 07:39:51" ["post_modified_gmt"]=> string(19) "2023-09-05 14:39:51" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(58) "https://www.cascadiacapital.com/?post_type=team&p=519" ["menu_order"]=> int(0) ["post_type"]=> string(4) "team" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [6]=> object(WP_Post)#2939 (24) { ["ID"]=> int(488) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2023-04-25 05:10:46" ["post_date_gmt"]=> string(19) "2023-04-25 12:10:46" ["post_content"]=> string(731) "Vitaliy Marchenko is a Director at Cascadia Capital in the firm’s Healthcare Services group, specializing in providing strategic advice to physician practice management clients. With over 12 years of investment banking experience, Vitaliy has a proven track record of advising founder and entrepreneur-owned companies with finesse and expertise.
Prior to joining Cascadia, Vitaliy was a VP at the Ziegler Companies in the Healthcare Services practice. Previously, Vitaliy provided investment banking services to clients while at Edgemont Capital. Vitaliy holds a BBA with a focus in Finance from Pacific Lutheran University.
" ["post_title"]=> string(17) "Vitaliy Marchenko" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(17) "vitaliy-marchenko" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2023-07-03 05:50:54" ["post_modified_gmt"]=> string(19) "2023-07-03 12:50:54" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(58) "https://www.cascadiacapital.com/?post_type=team&p=488" ["menu_order"]=> int(0) ["post_type"]=> string(4) "team" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [7]=> object(WP_Post)#2940 (24) { ["ID"]=> int(476) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2023-04-25 05:00:33" ["post_date_gmt"]=> string(19) "2023-04-25 12:00:33" ["post_content"]=> string(950) "Novan Le is a Senior Vice President in Cascadia Capital’s Healthcare Group, focused on M&A and growth equity advisory for healthcare technology and services companies. Novan brings over 10 years of corporate finance and M&A experience working with public and private companies in the healthcare and technology sectors.
Prior to joining Cascadia Capital in 2016, Novan worked at FT Partners in San Francisco, covering M&A and capital raising transactions in the financial technology (FinTech) space – specifically payments, banking and capital markets software. Previously, Novan worked for a Seattle-based Multi-Family Office making private investments in the enterprise software sector.
Novan holds a Bachelor’s in Finance and Mathematics from the University of Washington.
" ["post_title"]=> string(8) "Novan Le" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(8) "novan-le" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2023-07-03 05:54:07" ["post_modified_gmt"]=> string(19) "2023-07-03 12:54:07" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(58) "https://www.cascadiacapital.com/?post_type=team&p=476" ["menu_order"]=> int(0) ["post_type"]=> string(4) "team" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [8]=> object(WP_Post)#2941 (24) { ["ID"]=> int(6712) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2023-03-08 00:47:07" ["post_date_gmt"]=> string(19) "2023-03-08 00:47:07" ["post_content"]=> string(14479) "The clinical trials technology and pharma services markets have long been ripe for innovation. Despite their role as an essential component of pharmaceutical development and efficacy, clinical trials have mostly succeeded in spite of themselves — typically crossing the finish line snarled in their own inefficiency, expense, and red tape. Slow and cumbersome recruitment efforts can send a trial back to square one on a dime, wasting valuable time and money: the average clinical trial comes with a price tag measured in millions of dollars per day and typically takes upwards of 10 years to complete. In addition, the historical centralization of activity has only served to extend timelines and diminish access and equity, reducing data accuracy across underrepresented populations.
In a recent amplification of fundraising activity, however, investors are taking note of companies that provide unique solutions to these enduring issues, investing in companies bringing technological advancements to the forefront of the clinical trials and pharma services ecosystems. Companies looking to follow suit have a massive opportunity to not only have successful financial outcomes but also genuinely change the healthcare landscape for the better, ultimately benefitting patients who desperately need new treatments to improve or save their lives.
Investors Are Quickly Taking Notice of Disruptive Technology That Increases Efficiency
With the recent innovative technology deployments in the clinical trials and pharma services environment, more data is flowing through the pipes than ever. Workflow service providers and data & interoperability companies are leveraging automation and technology to disrupt outdated models, benefiting trial sponsors and patients. Companies are also taking advantage of recent AI and machine learning advancements to absolve workflow issues, bringing immense value to pharmaceutical companies with increased process capacity, speed, and flexibility.
In 2021, the largest 20 pharmaceutical companies spent ~25% of their revenue, on average, on drug research and development (1). With the sheer volume of dollars funneled toward these efforts, it stands to reason that investors are eagerly searching to find and back solutions that make clinical trials more efficient and affordable.
As the ecosystem strives to become more streamlined and connected, tech-enabled health solutions that previously thrived under an initial operating umbrella may find more favorable homes under new, larger ownership with enhanced connectivity and reach. Our team recently worked with Inspirata on the sale of its digital pathology business to Fujifilm Corporation — a transaction that represents a bridge being built in the technological gap between pathology, radiology, and oncology to facilitate a more collaborative approach to care delivery (2). Large, diversified conglomerates, including Fujifilm and many other competitors with healthcare business stakes, are positioning for the rapid advancements on the technology front to stay competitive over the long haul and continue serving the pharma ecosystem.
Aspects of the clinical trials process that have historically served as speed bumps, like patient recruitment and randomization, have also seen massive improvements and increased attention from companies looking to disrupt stale processes. Randomizing a patient into a trial (successfully matching for the trial therapy and study) has historically generated far less than a 3% likelihood of success. This issue is newly being confronted with automation, machine learning, enhanced PCP networks — and even social media campaigns — to match suitable patients to the correct trials and address workflow issues.
We also recently worked with the team at SubjectWell, the largest engagement platform for matching patients with chronic health conditions to new care options, on a $35 million fundraise to accelerate the growth of its existing software-driven recruitment efforts(3). SubjectWell serves nearly all of the largest pharmaceutical companies in the world, matching patients using its proprietary software engine and producing randomization rates far above industry standards.
“SubjectWell expands access to clinical trials by engaging the 96% of the population that has never participated in clinical research,” said SubjectWell CEO Ivor Clarke. “This approach allows us to engage a much more diverse patient population as we register 250,000 new patients per month.”(4)
Medable, a cloud platform for patient-centered clinical research, last year announced a $304 million fundraise, the proceeds of which are focused on “using digital technologies to make clinical trials accessible for everyone everywhere, bringing effective therapies to patients faster.”(5)
Technological innovations that increase efficiency — and the companies that deploy them — have therefore piqued investor interest and turbocharged funding activity. Faster trials and increased patient recruitment success can save customers hundreds of millions of dollars in direct costs and time to market. A value proposition that compelling to pharmaceutical companies is a bright green light for investors who may want to tap into the pharmaceutical market without taking on the risk of potentially landing on the wrong side of a failed clinical trial.
Decentralization: Bringing Trials to All Patients
Efforts to decentralize the clinical trials process have not only made it easier to recruit qualified patients, they have also served to increase the diversity and representation of patients that are ultimately admitted. This increase in patient recruitment, retention, and data diversity leads to an increased sample size of accurate data and faster trials — ultimately saving money and lives. All of the above can be compelling to investors. In some cases, it may also contribute to satisfying the Environmental, Social, and Governance (ESG) mandates of their underlying Limited Partners.
Two larger trends in healthcare have played a major role in decentralizing the ecosystem: consumerization and the implementation of remote patient monitoring technologies. Companies like Walmart, CVS, Kroger, and Walgreens have begun to move into the primary care and clinical trials spaces, broadening the access and scope of trials. Remote patient monitoring technologies allow patients to be observed in their own homes at any step of the process, and the data garnered can efficiently return to stakeholders in a free flow of information, saving precious time and money.
Investors have taken note of companies taking steps toward decentralization, shown in fundraisings such as Paradigm’s $203 million Series A, announced in January 2023. The platform was created with the mission to “build a more equitable clinical research ecosystem” and “make clinical trials a care option for all patients.”(6)
Our experience in the market suggests that if a company has the ability to contribute to decentralization — thereby decreasing time and cost and increasing access and data accuracy for the broader population— this further adds to the appeal for investors.
Checking the Sector’s Vitals
The clinical trials technology and pharma services sectors are much sturdier compared to others in the broader healthcare landscape, only further facilitating investor activity in the space. Drug sales are generally resistant to macroeconomic conditions, leading to the sector’s defensible position against the broader market. Although the industry saw a slight decline/flat trend of -4.7% in transaction activity and volume from 2021 to 2022, the change was substantially smaller when compared to the 21.5%(7) drop in broader healthcare technology and digital health.
Investor attention on the space is at an all-time high, and not just on the private markets side. In a year where strategics lie largely dormant on the M&A front with their market caps hammered, we have seen robust interest, and more strategic activity happening here than in any other space.
Investors of all stripes are looking for consistent year-over-year growth, diversification in the customer base and areas of focus, strong gross margins through competitive differentiation, and a clear path to profitability.
A Future of Innovation and Activity
Over the last few years, companies have worked to breathe new life into the lagging clinical trials and pharma services sectors, infusing innovative technologies into historically inefficient components of the clinical trials process. Patient randomization and recruitment have always been clunky, failure-prone constituents, and clinical trials data has been traditionally tough to unlock.
Clinical trials technology and pharma services companies have raised millions to focus on placing the right patients in the proper trials, speeding up workflows, and cutting costs. The ecosystem's decentralization has also contributed to making trials more accessible and equitable while reducing timelines and budgets. Sturdiness against macro conditions and the relative viability of individual, innovative companies continue to drive investor demand in these sectors.
The Cascadia team is active in ongoing discussions with companies and investors in the clinical trials technology and pharma services sectors. We are happy to lend our insights and experience as you evaluate your own next steps.
Reach out to our team to learn more
Sources:
(1) https://www.drugdiscoverytrends.com/pharmas-top-20-rd-spenders-in-2021/
(2) https://www.globenewswire.com/news-release/2022/12/19/2576269/0/en/Fujifilm-Announces-A%5B%E2%80%A6%5Dc-to-acquire-the-company-s-Digital-Pathology-Business.html
(3) https://www.businesswire.com/news/home/20221020005185/en/SubjectWell-Raises-35-Million-to-Expand-Patient-Access-to-New-Treatment-Options
(4) https://www.businesswire.com/news/home/20221020005185/en/SubjectWell-Raises-35-Million-to-Expand-Patient-Access-to-New-Treatment-Options
(5) https://www.businesswire.com/news/home/20211026005489/en/Medable-Secures-304-Million-in-Funding-at-2.1-Billion-Valuation-New-Round-Co-Led-by-Blackstone-Growth-GSR-Ventures-and-Tiger-Global
(6) https://www.paradigm.inc/news/paradigm-launches-to-rebuild-clinical-research
(7) https://rockhealth.com/insights/2022-year-end-digital-health-funding-lessons-at-the-end-of-a-funding-cycle/
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to The Colon, Stomach, and Liver Center (“CSL”) and Loudoun Endoscopy Group (“LEG”) in partnership with One GI®, a gastroenterology healthcare services organization and portfolio company of Webster Equity Partners. The agreement also includes the state-of-the-art Loudoun Endoscopy Center.
Formed in April 2020, One GI is comprised of leading gastroenterology practices throughout the Eastern US. Established in 2003, CSL's three board certified gastroenterologists and two advanced practice providers (APPs) deliver comprehensive gastrointestinal and hepatology care to patients in Northern Virginia, West Virginia, and Maryland.
Headquartered in Nashville, Tennessee, One GI identifies and partners with leading gastroenterology practices that are seeking a strategic alliance to provide capital and management services to help foster growth, drive economies of scale, and deliver the highest quality care to patients.
One GI’s partnership with CSL and LEG in Northern Virginia further validates its foundational value of delivering world class GI care in community based practices, and the expansion in Virginia aligns with One GI's commitment to strategic growth.
"We are excited to partner with One GI to help us continue to improve the well-being of our patients and expand our commitment to meeting the growing need for GI and liver healthcare in Loudoun County and our neighboring communities,” said Satinder Gill, MD, CSL founding physician. “Our longstanding relationship with Cascadia Capital helped us find a strong partner in One GI. I’m grateful to Cascadia for their insightful counsel in selecting a partner who valued our unique care model.”
“We are excited for Dr. Gill and this long-term partnership with One GI as they look to grow a strong presence in the Virginia market,” added Vitaliy Marchenko, Senior Vice President at Cascadia Capital.
“Cascadia’s Healthcare Team continues to build out its healthcare services specialty coverage. This transaction demonstrates yet another area of expertise for our team within physician services as we continue advising GI, Fertility, Behavioral Health, Cariology & Vascular, Dermatology, Retina, and Oral Surgery physicians,” added Kevin Cable, Cascadia Managing Director.
This acquisition represents another successful transaction for Cascadia in the healthcare services sector. Past clients include Seattle Reproductive Medicine, Psychiatric Centers of San Diego and Utah Fertility Center.
For more information about this transaction, please contact the Cascadia Capital deal team:
Kevin Cable
Managing Director
kcable@cascadiacapital.com
(206) 696-7922
Vitaliy Marchenko
Senior Vice President
vmarchenko@cascadiacapital.com
(253) 314-3143
Other senior members of the Cascadia Healthcare team include:
Adam Stormoen
Managing Director
astormoen@cascadiacapital.com
(612) 260-8060
Novan Le
Vice President
nle@cascadiacapital.com
(206) 436-2510
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Summit Imaging, Inc. (“Summit”), a technology enabled service organization that focuses on repairs and services for ultrasound and mammography imaging equipment, in its acquisition by RS&A, LLC (“RSA”), a portfolio company of Sheridan Capital Partners, a healthcare focused private equity firm.
Founded in 2006, Summit is a tech-enabled provider of medical imaging equipment repair, refurbishment, and exchange services to healthcare facilities, independent service organizations, and OEMs across North America, primarily focused on ultrasound and mammography. Summit’s deep industry expertise, technical capabilities, and proprietary software solutions perfectly complement RSA’s existing service offering and will augment their collective ability to deliver critical support to their healthcare customers.
RSA is a North Carolina-based medical device independent service provider for radiotherapy equipment, most notably external beam linear accelerators (“LINACs”). Since 1995, RSA has supported the oncology community through equipment life cycle management, maintenance, parts, and removals/installations.
“The entire Summit team and I are elated about our partnership with [CEO] DJ Conrad and the RSA team,” said Larry Nguyen, the Founder of Summit, and newly appointed CIO of RSA. “Our teams are fundamentally aligned in our cultural values, our commitment to our clients, and our desire to deliver the highest-quality services in direct support of healthcare providers, and the service community to improve patient care.”
“As the medical equipment service and repair space evolves, Summit Imaging will continue to drive growth through their broad electronic expertise, proprietary software, and tech enabled, differentiated offerings. Larry and the team have found a compelling strategic partner and we look forward to their collective future success,” said Adam Stormoen, Managing Director and Head of Medical Devices at Cascadia Capital. “We are pleased to have delivered another successful outcome in the medical equipment service and repair sector and look forward to continuing to support clients in the space.”
The acquisition represents another successful transaction for Cascadia’s healthcare team, and another great outcome for a client in the medical equipment service, maintenance and repair sector following the recent sale of 626 Holdings to Peak Rock Capital.
For more information about this transaction, please contact:
Adam Stormoen
Managing Director
astormoen@cascadiacapital.com
(612) 260-8060
Other senior members of the Cascadia Healthcare team include:
Kevin Cable
Managing Director
kcable@cascadiacapital.com
(206) 696-7922
Vitaliy Marchenko
Senior Vice President
vmarchenko@cascadiacapital.com
(253) 314-3143
Novan Le
Vice President
nle@cascadiacapital.com
(206) 436-2510
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Seattle Reproductive Medicine (SRM), a leading fertility center headquartered in Seattle, Washington, as they join the Pinnacle Fertility (Pinnacle) network of high-performing family building centers.
For nearly two decades, SRM has helped grow families with comprehensive, expert fertility care. As a center of excellence, SRM brings a special blend of medical expertise, pioneering technology, and a large team including fourteen board-certified physicians, twelve eadvanced registered nurse practitioners, and six practice locations to the Pinnacle network.
“We were honored to work with the team at SRM, a well-recognized regional leader in fertility,” noted Kevin Cable, Cascadia Capital Managing Director. “SRM’s unique platform drove significant interest from potential partners. It was a true testament to the quality of the practice they have built.”
“We are very excited and extremely honored to bring SRM into our organization as they provide an expansive and well-regarded fertility care program to patients as well as the entire Pinnacle network,” states Andrew Mintz, CEO of Pinnacle Fertility, “By expanding our footprint in the Pacific Northwest and welcoming this distinguished team, we are deepening our commitment to leadership, collaboration, and providing the best reproductive care possible to our patients.”
Pinnacle Fertility is the nation’s fastest-growing physician-centered fertility care network, offering fertility-focused practices a platform for collaboration amongst physicians and medical leaders. Pinnacle’s patient-first approach and passion for excellence continues to set the standard in fertility care.
“We considered the opportunity to join the Pinnacle Fertility network thoroughly and felt it was the best path forward for our organization and the patients we support,” adds Dr. Paul Dudley, a leading physician at SRM. “For our patients, the care we provide remains the same high-touch experience we are known for. For our team members, we have a new opportunity to collaborate with medical thought leaders across the nation, access more resources and leading technology, and continue to grow in our field of healthcare. This all directly expands our mission to provide thoughtful, compassionate, and patient-focused fertility care, and that feels good!”
“We are thrilled to leverage the benefits of being a part of a larger network of clinics that celebrates physician leadership, fosters collaboration, offers excellence in medicine and champions success for patients across its programs,” says Dr. Nancy Klein, a founding partner and physician at SRM. “Pinnacle creates more opportunities for patients to access the best reproductive care possible and understands the meaningful work we do every day to help make dreams of building a family possible.”
Cascadia has become a key advisor to clinics and doctors interested in exploring or taking advantage of the increased transaction activity in the reproductive health sector, having advised seven fertility clients in the last twenty four months.
For more information about this transaction, please contact the Cascadia Capital deal team:
Kevin Cable
Managing Director
kcable@casdiacapital.com
(206) 696-7922
Vitaliy Marchenko
Senior Vice President
vmarchenko@cascadiacapital.com
(253) 314-3143
Or other senior members of Cascadia’s Healthcare investment banking team:
Adam Stormoen
Managing Director
astormoen@cascadiacapital.com
(612) 720-8136
Novan Le
Vice President
nle@cascadiacapital.com
(206) 436-2510