Wellcheck Cardiac Telemetry (https://www.wellchecktelemetry.com/) develops and sells provider-focused cardiac telemetry and remote patient monitoring solutions to physician group and hospital customers.
The purchase of Tampa-based Life Support Systems, Inc is Wellcheck’s platform acquisition. Life Support is a licensed Independent Diagnostic Testing Facility providing cardiac telemetry monitoring services (i.e., Holter, Extended Holter, Mobile Cardiac Telemetry, Event Monitoring) to physician groups and their patients.
The transaction provides Wellcheck with the operational base to grow its cardiac telemetry services organically and through acquisition, and to extend its product line to the large and growing remote patient monitoring market.
Cypress Associates LLC acted as the exclusive buy side advisor to Wellcheck Cardiac Telemetry in the acquisition.
Autem Therapeutics (https://www.autemtherapeutics.com/) is an emerging oncology therapeutic and bioelectric technology company that is developing a novel systemic treatment platform for multiple cancer types that shrinks tumors (ORR, PFS, DCR), extends survival (mOS of 11.5 months), and improves quality of life (QoL of 14+ months TTD). The Company was granted at an FDA Breakthrough Therapy designation and is headquartered in Hanover, NH, USA.
Zentynel Frontier Investments is a venture capital investment firm based in Santiago, Chile. The firm seeks to invest in companies operating in the life sciences, healthcare, biofuels and other artificial intelligence-enabled technology sectors.
Follow-on investments made by Zentynel and Spectra Investments, a venture capital firm based in Sao Paolo, Brazil
The transaction provides Autem with funds to complete the Company’s next generation EMsys™ System and related testing and validation, the US FDA Investigational Device Exemption (IDE) and European and Latin American regulatory submissions/approvals, and the start-up phase of its HCC pivotal trial and operations through CY 2023.
Cypress Associates LLC acted as placement agent of the equity and financial advisor to Autem Medical.
Psych Atlanta (https://www.psychatlanta.com/), with locations in Marietta and Roswell, GA, is a leading outpatient psychiatric practice providing therapy, medication management and differentiated integrated services focused on treatment resistant depression (TRD), integrative care and holistic psychiatric treatments.
Backed by JLL Partners and SV Health Investors, Hightop Health (https://www.hightophealth.com/) is an innovative, clinician centric, outpatient mental health platform committed to improving mental health in America. Hightop is currently assembling a group of prominent and innovative psychiatry practices with the goal of delivering a clinical solution that truly improves the mental health of its patients and provides the highest level of care in a comprehensive fashion with curative outcomes.
Psych Atlanta is Hightop Health’s platform investment for executing its outpatient mental health strategy. The transaction provides Psych Atlanta with the financial and operational backing to continue to meet massive demand in its existing markets, to grow to new markets, and to further broaden services provided as new psychiatric therapies for TRD and other conditions are introduced to the market.
Cypress acted as exclusive financial advisor to Psych Atlanta in its sale to Hightop Health.
Austin Emergency Center (“AEC”) is a network of seven Independent Freestanding Emergency Centers (“IFSECs”) that is moving towards an integrated care model, incorporating a micro-hospital / hospital outpatient department (or HOPD) strategy and building physician group alliances alongside its strategically placed IFSECs. AEC provides 24/7 emergency care with wait times much shorter than those encountered in hospital-based emergency rooms and provides full on-site care including emergency, radiology, and laboratory services.
Altus Community Health Care, LP (“Altus”), an affiliate of ZT Corporate, is an integrated network of hospitals, care centers, physicians and services providing affordable patient care across Texas (Houston, San Antonio and Austin). Some notable Altus facilities include Altus Houston Hospital, Altus Emergency Centers, Altus Surgery Center, six freestanding Neighbors Emergency Center (NEC) locations, and Physicians Service Affiliate Networks’ acute care surgical hospitals and ambulatory surgery centers (including one in Austin).
The transaction provides AEC with the financial and regulatory security of quickly growing into a larger and more diversified organization while giving Altus its strategic growth foundation in Austin. It also solidifies AEC as the leading independent provider of high-quality and cost-efficient emergency care in the Austin metropolitan area.
Cypress has been AEC’s long-standing financial advisor, previously advising the Company on the acquisition of its Mueller IFSEC from Neighbors completed in October 2018. In AEC’s majority stake sale to Altus, Cypress acted as financial advisor, leading the negotiation of seven asset purchase agreements and assisting the Company with numerous other key transaction provisions (such as a new emergency physicians service agreement and other ancillary agreements).
Team TSI is a leading provider of data-driven intelligent software solutions that its skilled nursing facility customers need for critical functions including improved reimbursement, survey preparedness, and resident event tracking. Team TSI sells best-in-class, customer-driven business intelligence solutions, ranging from reimbursement optimization, survey/five-star, re-hospitalization, quality, risk management, trend analysis, and root cause analysis. Team TSI is a market share leader, with over 4,000 SNF customers. Team TSI was founded in 1991 and is headquartered in Albertville, AL.
Roper Technologies is a diversified technology company with annual revenues of over $5 billion. Roper will operate Team TSI beside its wholly-owned Strategic Healthcare Programs LLC (“SHP”) division. SHP sells integrated analytics software and survey administration offering to home health agencies to enable the aggregation, analysis and benchmarking of clinical, financial, operational and satisfaction data. SHP empowers healthcare organizations to improve patient outcomes, care efficacy, profitability and patient satisfaction as well as maximize reimbursement. Roper is in the S&P 500, Fortune 1000 and Russell 1000 Indexes and trades on the New York Stock Exchange under the symbol ROP.
Team TSI’s objective in a sale transaction was to accelerate its growth trajectory through increased marketing efforts to SNF-based prospects and expanding to other sectors of the long-term care industry.
Cypress Associates LLC acted as exclusive financial advisor to Team TSI in its sale to Roper.
Cedar Oaks Wellness Center is a high – end provider of inpatient substance abuse, detox and wellness / rehabilitation services in the greater Cincinnati, OH area. Cedar Oaks rehabilitates patients struggling with alcohol and drug addition by creating and introducing individualized programs that include active, healthy habits as well as medication-assisted treatment and relapse prevention resources. Cedar Oaks was founded in 2020, and the Cincinnati location is the flagship facility for a larger planned platform.
The Cedar Oaks financing was financed with common and hybrid equity. Common equity was issued to private investors, and a Real Estate Index Linked Securities (REILS) Note – a proprietary and flexible real estate instrument – was issued to Arzan Wealth.
Cedar Oaks’ objective in the transaction was to obtain growth capital to finance the purchase, renovation, and operations of its first licensed inpatient facility.
Cypress Associates LLC acted as exclusive placement agent of the debt and equity for Cedar Oaks.
Austin Emergency Center is a leading independent freestanding emergency center company, tied for the largest in Austin, Texas , where it is based. The company sees approximately 11,500 patient visits per year and its centers can serve up to 70 patients per center per day.
Neighbors Global Holdings was an owner and operator of a network of freestanding emergency centers throughout Texas. The company’s portfolio included 22 facilities with active operations and 20 facilities that were closed or inactive.
In January 2018, Neighbors began to explore the sale of its facilities due to declining patient volumes and high operational costs. In July 2018, the company declared Chapter 11 bankruptcy and planned to hold an sale for all or substantially all their assets.
Cypress acted as the buy side advisor to Austin Emergency Center in its successful bid of one of the Austin facilities.
HealthSouth is one of the nation’s largest providers of outpatient surgery, diagnostic imaging and rehabilitative healthcare services, operating facilities nationwide.
Cypress acted as financial advisor to The Retirement Systems of Alabama in the restructuring of claims by securities purchasers against HealthSouth which resulted from HealthSouth’s accounting fraud. Cypress evaluated HealthSouth’s financial condition and prospects, analyzed various forms of consideration, and assisted in the mediation which resulted in the $445 million package of cash, common stock and warrants to purchase common stock paid to HealthSouth securities purchasers.
Represented the Special Committee of the Board of Faulding Inc. in the sale to Faulding Ltd.
Cypress Associates LLC Advised investors in claims agasint HealthSouth arising from accounting fraud
