Conversation With: Les Kreis, BIOS Partners

The most recent “The Pulse” breakfast series at Health Wildcatters headquarters last week featured Bill Burns, founder of Encore Vision, a medical supply and equipment company, and Les Kreis, managing partner at BIOS Partners, a healthcare-focused private equity firm. Full Story

New York Firm Acquires Minority Interest in Dallas Healthcare Investor

GMF Capital, a New York-based private alternative investment firm specializing in healthcare, real estate, and private equity, has acquired a minority interest in Dallas-based East Lake Capital Management, an investment management firm specializing in healthcare and real estate, for a reported $95 million.
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Class Action Lawsuit Against Adeptus Health Alleges Misleading Statements, Securities Violations

A class action lawsuit has been filed against Lewisville-based Adeptus Health Inc. because the company allegedly made false and/or misleading statements, failing to disclose its internal control over financial reporting and the overall status of its business operations. Bronstein, Gerwirtz & Grossman LLC publicly reminded Adeptus investors that the class action lawsuit had been filedĀ against the free-standing emergency room provider on behalf “of a class consisting of all persons or entities who purchased Adeptus securities April 29, 2016 through March 1, 2017.” The New York law firm said there’s a May 9 deadline to request lead-plaintiff status in the case.… Full Story

Cedar Springs Capital, Crestline Investors Acquire Nashville-based Patient Financial Engagement Company

Dallas-based Cedar Springs Capital and Fort Worth-based Crestline Investors Inc. have partnered to acquire a majority interest in an Oregon-based patient financial engagement company called CarePayment. As a result of the deal, CarePayment will relocate its headquarters to Nashville. Full Story

Tenet Healthcare Records $192 Million Net Loss in 2016, Re-Prioritizes

Dallas-based Tenet Healthcare has announced plans to strengthen its hospital portfolio and expand its ambulatory network after releasing its 2016 financial records, showing a net loss of $192 million. While Tenet reported higher operating revenue than in the previous year, growing from $18.6 billion in 2015 to $19.6 billion in 2016, the financial boost was attributed to an increase in net patient service revenue. Tenet’s records showed it closed 2016 with $4.9 billion in revenue for its fourth quarter, a 3.3 percent decrease from the same quarter in 2015. After accounting for investment income and other expenses, Tenet ended 2016… Full Story