Our Services Category: Mergers & Acquisitions and Fairness Opinions

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.

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.