Levine Leichtman Capital Partners has acquired healthcare mobile workstation manufacturer Capsa Healthcare. The deal is the first out of the PE firm’s sixth fund. FInancial terms were not disclosed.
Capsa, located in Portland, Oregon, makes mobile workstations and automated medication dispensing systems. The target serves healthcare facilities, senior care centers and pharmacies. Capsa CEO Andrew Sherrill says the investment from Levine Leichtman “will be critical to the continued growth of the company.” Kirkland & Ellis represented Levin Leichtman, which received financing from Madison Capital, Midcap Financial and NewStar Financial. Harris Williams & Co. advised Capsa.
Levin Leichtman is a Los Angles-based private equity firm that focuses on the healthcare, consumer and education sectors. The PE firm has additional offices in New York, Dallas, Chicago and London.
Levine Leichtman is not the only buyer to go after drug dispenser makers. Earlier in 2017, McKesson Corp. (NYSE: MCK) bought CoverMyMeds. In 2016, Omnicell Inc. (NASDAQ: OMCL) completed the acquisition of Aesynt.
In other recent healthcare deals, Fidelity National Financial Inc. (NYSE: FNFV) is buying T-System Holdings; Fortive Corp. (NYSE: FTV) has agreed to acquire Landauer Inc.; and KKR & Co. (NYSE: NYSE: KKR) has agred to take WebMD private.