In the last two years it has been sued over 800 times for emitting ethylene oxide, a cancer-causing gas, in excess of permissible limits. Sterigenics is a medical device sterilization company. Mulhern and Macnabb have held senior executive roles at multiple GTCR companies, including Sterigenics (aka Sotera Health). GTCR’s checkered history in health care raises questions about how the firm will ensure that Epselon does not run afoul of the law.įrequent GTCR partners Michael Mulhern and Phil Macnabb will co-invest and lead Epselon. Multiple GTCR health care companies have made headlines for lawsuits alleging cancer-causing emissions, poor medical care, billing fraud, and other issues. GTCR is a prolific health care investor, with at least 11 current health care portfolio companies and almost 50 past investments.
Epselon will focus on acquiring health care companies to “build a market-leading healthcare business,” though the specific subsector of health care has not been made public. Private equity firm GTCR is creating a new platform for health care investments called Epselon Global. We will continue to track acquisitions on a monthly basis. Below is a list of private equity health care buyouts and add-on acquisitions completed during March 2021. In light of the growing investor interest in health care and the risks associated with private equity ownership of health care companies, the Private Equity Stakeholder Project will be tracking private equity-backed health care acquisitions.
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