Avista Capital Partners’ Acquisition of Probo Medical

Ropes & Gray acted as legal advisor to Avista Capital Partners, while Morgan Lewis represented Probo Medical in the transaction.

Avista Capital Partners executed its acquisition of Probo Medical LLC from Varsity Healthcare Partners. 

Varsity Healthcare Partners is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies.

Probo Medical is a global diversified supplier of refurbished diagnostic imaging equipment. VHP is a middle-market private equity investment firm focused on partnering with founders, entrepreneurs, and management teams to build healthcare services companies.

Avista Capital is a New York-based private equity firm with investments in more than 40 growth-oriented healthcare businesses globally.

Cain Brothers, a division of KeyBanc Capital Markets, acted as lead financial advisor, Houlihan Lokey acted as co-financial advisor to Varsity Healthcare Partners.

Morgan Lewis partners Jonathan Morris and Allison Gargano represented Probo Medical.

The Ropes & Gray team that advised Avista Capital was led by private equity partner Bob Rivollier (Picture) and private equity associate Samuel Levitt (both of New York), and included private equity partner Helen Croke (London), leveraged finance partner Arek Maczka (New York), life sciences regulatory & compliance partner Kellie Combs (Washington, D.C.), health care partner Christina Bergeron (Boston), benefits partner Alexandra Alperovich (Boston), labor & employment partner Megan Bisk (Boston), tax partner Benjamin Rogers (San Francisco), litigation & enforcement counsel Joseph Rafferty, Lee Gayer (both of New York) and Steven Kaye (Boston), and real estate partners Peter Alpert (Boston) and David Seymour (London).

Involved fees earner: Allison Gargano – Morgan Lewis & Bockius; Jonathan Morris – Morgan Lewis & Bockius; Alexandra Alperovich – Ropes & Gray; Peter Alpert – Ropes & Gray; Christina Bergeron – Ropes & Gray; Megan Bisk – Ropes & Gray; Kellie Combs – Ropes & Gray; Helen Croke – Ropes & Gray; Lee Gayer – Ropes & Gray; Steven Kaye – Ropes & Gray; Samuel Levitt – Ropes & Gray; Arek Maczka – Ropes & Gray; Bob Rivollier – Ropes & Gray; Benjamin Rogers – Ropes & Gray; David Seymour – Ropes & Gray;

Law Firms: Morgan Lewis & Bockius; Ropes & Gray;

Clients: Avista Capital Partners; Probo Medical;