Audax Group has acquired Toronto-based Lifemark Health and Viewpoint Medical Assessments, provider of physiotherapy, rehabilitation and medical assessments, from Centric Health Corp. (TSE: CHH) Terms of the deal were not disclosed.
Boston-based Audax Group manages more $9 billion in its private equity, mezzanine and senior debt businesses. Audax Private Equity focuses on lower middle market companies in industrial manufacturing, distribution and health care sectors.
Lifemark provides physiotherapy and rehabilitation treatment in more than 100 clinics and in long-term care centers, retirement homes and communities in Canada. It also provides independent medical assessments and examinations in Canada. Centric Health has a network of offices in Canada in its core businesses: specialty pharmacy and surgical centers.
Among Audax’s recent transactions was its 500th deal, in September, acquiring Dermatology of Northern California, an add-on deal by its Advanced Dermatology & Cosmetic Surgery portfolio company. In July, Audax’s Minneapolis-based AllOver Media LLC acquired two Zoom Media advertising divisions that show ads on posters, digital screens, backlit billboards and floors in bars, restaurants, arcades, bowling alleys and roller skating rinks. Also in July, AllOver Media announced it was buying Ripple Resort Media Inc., which focuses on advertising at winter resorts. Audax acquired AllOver in March.
Jay Jester, an Audax Private Equity managing director, described his firm’s deal flow in this video in 2015.
National Bank Financial Inc. and Canaccord Genuity Corp. were financial advisers to Centric Health on the deal, and Stikeman Elliott LLP provided legal advice. Audax received legal advice from Blake, Cassels & Graydon LLP was the legal adviser for Audax, and Antares LP and Sankaty Advisors provided debt financing for the deal.