Healthcare & Life Sciences Private Equity Deal Tracker: Varsity Healthcare Sells Probo Medical to Avista

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Varsity Healthcare Partners has announced the close of its sale of Probo Medical to Avista Capital Partners.

Probo, based in Fishers, Ind., is a supplier of refurbished diagnostic imaging equipment. Founded in 2014, the company’s set of services include equipment sales, part sales, equipment rentals, depot repair service, equipment installation and de-installation, and field-based repair service

VHP, with offices in Los Angeles and Stamford, Conn., is a lower middle market private equity firm focused on healthcare services. Founded in 2014, VHP aims to commit equity investments ranging from $20 million to $60 million.

Avista, based in New York, makes control buyout investments in middle market healthcare companies. Founded in 2005, the firm focuses on the following healthcare subsectors: pharmaceuticals, medical devices, outsourced pharmaceutical services, distribution and consumer-driven healthcare.

Terms of the transaction were not disclosed.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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