Casey Van de Walle
Casey is a member of the Healthcare Investment Banking Group and is responsible for new client development and co-managing all aspects of client transactions. She advises healthcare clients on mergers and acquisitions and capital markets activities. Casey’s approach is high-touch, rooted in a deep expertise with founder-owned, family-owned, and provider-owned healthcare businesses. She has spent her entire career working as an investment banker in the healthcare industry, advising companies across the healthcare services continuum. Prior to joining Matrix in 2020, Casey was a Vice President with Edgemont Partners where she provided M&A advisory services to healthcare clients. Casey also previously served as a Vice President in Raymond James’ Healthcare Finance Group. She serves as Co-Chair of the Leadership Council of the Lung Cancer Research Foundation.
Casey graduated from Princeton University, where she received an A.B. degree in Economics and a Certificate in Finance. She is qualified as a FINRA Municipal Advisor Representative (Series 50), Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).
Matrix Announces the Successful Issuance of Shodair Children’s Hospital’s Series 2020A/B Bonds
RICHMOND, VA / BALTIMORE, MD – November 3, 2020 - Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has served as financial advisor to Montana Children’s Home and Hospital d/b/a Shodair Children’s Hospital (“Shodair”) on the successful issuance of its Series 2020A/B Bonds. Shodair, located in Helena, Montana, provides pediatric psychiatric care and operates a comprehensive genetics program.
Shodair is the only not-for-profit, dedicated pediatric psychiatric provider in Montana with a robust continuum of care and dedicated inpatient psychiatric beds for children ages 3-18. Shodair’s psychiatric services include inpatient care, day treatment, outpatient, and school-based services, as well as a psychiatric residential treatment facility and therapeutic group home. Their service area includes all of Montana, and in 2019 they served patients from 44 of the state’s 56 counties.
Shodair issued $32,735,000 of tax-exempt Series 2020A Bonds on its own credit, as well as $20,000,000 of tax-exempt Series 2020B Bonds backed by the Montana Board of Investments. Both the Series A/B Bonds were issued through the Montana Facility Finance Authority and were publicly-offered, tax-exempt, fixed rate bonds. The bond issuance will finance the construction of a new 131,676 square foot facility designed to provide an environment of healing. The new design will include 82 private rooms, which will allow Shodair additional flexibility in treating more patients.
Matrix provided financial and municipal advisory services to Shodair, including developing and implementing the financing plan. The transaction was managed by Vasanta Pundarika and Amanda Verner Thompson, both Managing Directors and Co-Heads of Matrix’s Healthcare Investment Banking Group.
Ms. Thompson stated, “Matrix feels very privileged to have been chosen to advise Shodair on the development and implementation of this financing plan. This transaction to finance a new building for Shodair will provide Montana’s kids and families with a facility that will greatly improve the access and quality of the care being delivered.”
Ms. Pundarika added, “We are excited about Shodair’s continued growth as an organization with this new project. It is an integral part of healthcare delivery in Montana and the new building will allow them to treat more patients in an environment dedicated to hope, healing, and safety.”
Amy Christensen of Christensen & Prezeau LLP served as legal counsel to Shodair.
Matrix Launches New Healthcare Group, Welcomes Industry Veterans as Co-Heads
RICHMOND, VA / BALTIMORE, MD – September 9, 2020 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, has expanded its industry coverage with the establishment of the Matrix Healthcare Investment Banking Group. Leading this dedicated industry group will be Amanda Verner Thompson and Vasanta B. Pundarika, who have joined the firm as Managing Directors and Co-Heads of the new group.
Their initial focus will be in various healthcare sub-sectors, including hospitals and healthcare systems, behavioral health organizations, managed care companies, telemedicine providers, in addition to other ancillary services, including dialysis, urgent care, laboratories, and long-term care.
Ms. Pundarika said, “We are thrilled to join Matrix to build and grow the healthcare group on top of the firm’s strong foundation of providing transaction, advisory, and valuation services over the past 30 years.”
In their new roles, Ms. Thompson and Ms. Pundarika will be responsible for new client engagement and transaction management, provide leadership and support for the professional development of the group, as well as drive Matrix’s expansion into the broader healthcare industry.
With 30 years of combined experience successfully advising healthcare companies, and over 230 completed engagements to their credit, they bring depth and years of expertise advising not-for-profit and for-profit clients on mergers and acquisitions, valuations, tax-exempt and taxable financings, and strategic advisory, including strategic options and strategic capital planning.
Ms. Thompson added, “We are delighted to be part of a firm where healthcare investment banking is an essential element and focus. Our clients will benefit from Matrix’s unwavering focus and energy in providing creative, objective, and independent advisory services.”
Both were previously with Raymond James & Associates as Directors of the Healthcare Finance Group where they led the behavioral health and managed care advisory efforts. They joined Raymond James in 2012 following the acquisition of Morgan Keegan and joined Morgan Keegan in 2007 with the acquisition of Shattuck Hammond Partners, a boutique healthcare investment bank.
Ms. Thompson graduated from Duke University with a B.A. in Biology and a minor in French and Ms. Pundarika graduated with Honors from Princeton University, where she received an A.B. degree in Anthropology.
Tom Kelso, President of Matrix said, “We are very excited to welcome Vasanta and Amanda to Matrix to lead the expansion of our services into the healthcare sector. This is a very important step in continuing to broaden our industry reach and drive growth at Matrix.”
Vasanta B. Pundarika
Vasanta is Head of the Healthcare Investment Banking Group. She advises healthcare clients on mergers and acquisitions and capital markets activities. Vasanta’s approach is high-touch, rooted in a deep expertise with founder-owned, family-owned, and provider-owned healthcare businesses.
Vasanta has nearly two decades of experience advising and working with healthcare services companies. She advises companies across healthcare services, while specifically focusing on acute care, behavioral health, women’s health, outpatient care, and ancillary services.
Vasanta is a thought leader in the healthcare industry, often participating in panels, webinars, and other speaking engagements, in addition to authoring various white papers.
Prior to Co-Founding the Healthcare Investment Banking Group at Matrix in 2020, Vasanta was previously a Director in Raymond James’ Healthcare Finance Group, which she joined upon the acquisition of Morgan Keegan, and the acquisition of Shattuck Hammond Partners prior to that.
Vasanta graduated with Honors from Princeton University, where she received an A.B. degree in Anthropology. She is qualified as a FINRA General Securities Representative (Series 7), General Securities Principal (Series 24), Municipal Advisor Representative (Series 50), Municipal Advisor Principal (Series 54), Uniform Securities Agent (Series 63), and Investment Banking Representative (Series 79).
She is currently a member of the Women Business Leaders of the U.S. Healthcare Industry Foundation (a network of women business leaders in healthcare), Chief (a network of executive women leaders), and the Healthcare Financial Management Association (HFMA). She also serves on the Board of Directors for Sakhi for South Asian Women.
Matrix’s Healthcare Group Announces the Successful Sale of Next Generation Children’s Centers
RICHMOND, VA – February 23, 2016 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of Next Generation Children’s Centers (“NGCC” or the “Company”) to Cadence Education, Inc. (“Cadence”), a Scottsdale, AZ based portfolio company of Audax Group, Inc. Matrix served as exclusive financial advisor to NGCC. The transaction was led by David Keys, Head of Matrix’s Healthcare Group, along with David Endom and Brady Hill.
Next Generation Children’s Centers is a leading provider of early education and childcare services in the Commonwealth of Massachusetts. Founded by Donna Kelleher in 1993, the Company has grown from a single location to ten locations across the Boston metropolitan area and has an enrollment of more than 2,000 students. The Company has established a premier reputation for the quality of its educational programs and the depth of care it provides to students and families.
“It was an absolute pleasure to work with Donna and her team,” said Keys. “Donna’s focus on finding the right company to provide continuity to the NGCC educators and the families they serve was of primary importance and Cadence’s focus on maintaining the brand identity of acquired schools was an excellent fit. We are excited to watch the continued growth of Next Generation within the Cadence Education family of schools.”
“Matrix’s professionalism resulted in a positive outcome for all parties,” said Kelleher. “David, David, and Brady were focused on understanding our objectives and providing alternatives, gave sound advice, and did an outstanding job managing the process.”
Cadence Education is one of the ten largest providers of childcare services in the United States with a platform of more than 150 learning centers. The acquisition of NGCC marks Cadence’s entry into the Massachusetts market and will significantly expand Cadence’s presence in the Northeast.
Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo acted as legal advisor to NGCC on the transaction. Cadence was represented by Goulston & Storrs PC.
About Matrix’s Healthcare Group
Matrix’s Healthcare Group was founded to provide differentiated advisory services to lower middle market companies in the sectors of Health, Wellness, and Education. Our professionals have extensive experience as advisors, investors, and operators within these markets and understand the nuances and regulation that influence performance and market positioning. Team members have executed more than 25 advisory transactions with an aggregate deal value in excess of $2.5 billion. Since launching in December 2014, the Healthcare Group has closed four transactions, each of which were in its core sectors.
About Matrix Capital Markets Group, Inc.
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and Chicago, IL. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies, including company sales, recapitalizations, asset divestitures, corporate recovery, management buyouts, capital raises of debt & equity, corporate valuations and fairness opinions. Matrix has served clients in a wide range of industries, including building products, business services, consumer products, downstream energy & retail, healthcare, education, industrial products, lumber and media & communications. For additional information or to contact our team members, please visit www.matrixcmg.com.
Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC
Matrix's Healthcare Group Update
Matrix Capital Markets Group, Inc. established its Healthcare Group in late 2014 and has gained traction throughout 2015 and into 2016 by advising on several engagements in the laboratory, behavioral health, wellness, and education sectors.
Across the Healthcare Group’s assignments in 2015 strategic acquirers and financial sponsor-backed companies were the most aggressive buyers. The desire to complete a specific strategic niche, whether filling in a geography or augmenting a service offering, drove acquisition activity. The team’s dialogue with current and prospective clients indicates that strategic consolidation will likely be a continuing trend in 2016.
Within certain sectors, particularly healthcare data informatics, a desire to find partners to help achieve greater scale is driving activity. These partners are either strategic acquirers with existing relationships or financial sponsors capable of providing capital and expertise. Within sectors such as laboratory services, operating efficiencies in the face of changing reimbursement is a tangible driver. The broad behavioral health sector continues to be active, supported by the tailwinds of expanding coverage and the consolidation of a highly fragmented sector by both strategic buyers as well as sponsor-backed management teams with the ability to act like a strategic.
Matrix provides expert advice for mergers, acquisitions, divestitures, and capital raises (debt and equity). Matrix’s processes are tailored to each client’s situation and have consistently resulted in optimal outcomes, including providing maximum value and delivering a high degree of certainty of closing. Our detailed understanding of strategic buyers is augmented by a database of over 2,000 financial acquirers. When raising capital, our extensive knowledge of debt and equity capital providers results in our clients receiving the best terms available.
David Keys, Managing Director, serves as Head of the Healthcare Group. David Endom, Vice President, brings operating experience from the education sector along with prior healthcare M&A experience. Braden Hill, Senior Analyst, has worked with the team since inception. Collectively, the Group has more than two decades of experience in M&A and has executed transactions that, in aggregate, exceed more than $2.5 billion within the health, wellness, and education sectors. The Healthcare Group has advised companies on strategic alternatives across the following sectors:
Healthcare Services:
- Behavioral Health
- Clinical and Forensic Laboratories
- Home Healthcare and Hospice
- Physician Practices
- Contract Research Organizations
- Clinical, Allied & Lab Staffing
- Specialty & Institutional Pharmacy
Healthcare Information Technology:
- Laboratory Information Systems
- Practice Management Systems
- Revenue Cycle Management
Medical Devices:
- Class I, II, and III Devices
- Contract Manufacturing
- Institutional and Pharmacy Automation
- Medical device preventative maintenance and repair (ISO and multi-vendor)
Contact:
David M. Keys, CFA Managing Director, Head of Healthcare Group
804-591-2042 dkeys@matrixcmg.com
David H. Endom, Vice President
804-591-2035 dendom@matrixcmg.com
Braden R. Hill, Senior Analyst
804-591-2062 bhill@matrixcmg.com
Carlton C. Zesch, Analyst
804-591-2046 czesch@matrixcmg.com
Matrix Capital Markets Group, Inc.’s Healthcare Team Advises Safe Foods International Holdings, LLC on its Sale to Laboratory Corporation of America® Holdings
RICHMOND, VA – November 6, 2015 - Matrix Capital Markets Group, Inc. (Matrix) announces the successful sale of Safe Foods International Holdings, LLC (SFIH) to Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH). Matrix served as exclusive financial advisor to SFIH. The transaction was led by David Keys, Head of Matrix’s Healthcare Team, and David Endom, who joined Matrix to help launch the Healthcare Team at the beginning of 2015. Brady Hill also assisted on the transaction.
SFIH was formed to create a contract research organization focused on the full spectrum of services required by food, beverage and nutrition companies. SFIH is involved from product development through scaling production, while also providing product integrity testing.
“The Matrix team provided us with first rate representation and advice throughout the process,” said Johannes Burlin, former president of SFIH. “Their knowledge of the industry and process combined with responsiveness and dedication was invaluable.”
LabCorp released the following regarding the transaction:
LabCorp Acquires Safe Foods International Holdings
Transaction Expands Capabilities in Food and Beverage product-development and product-integrity
BURLINGTON, N.C. - Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) today announced the acquisition of Safe Foods International Holdings, LLC (SFIH) and its two operating companies, International Food Network (IFN) and The National Food Laboratory (The NFL). With the addition of IFN and The NFL, LabCorp now offers an expanded range of industry-leading services to the global food, beverage and nutrition industries through Covance’s Nutritional Chemistry and Food Safety business. Terms of the transaction were not disclosed.
“We identified nutritional chemistry and food safety as an exciting growth opportunity for our company immediately after the acquisition,” said David P. King, chairman and chief executive officer of LabCorp. “International Food Network and The National Food Laboratory represent our first major expansion in this important area, and we are delighted that these high-quality companies and their outstanding teams are joining our company. With this acquisition, we extend our capabilities to offer a full range of product-development and product-integrity services to food and beverage manufacturers and retailers, industry organizations, and academic institutions.”
“This was the right time, and the right partner, for our business to become part of a larger organization,” said Johannes Burlin, president of SFIH. “We are excited to join Covance, and we look forward to the opportunities our combination will create for customers as we expand our global business.”
“These two companies are recognized leaders in the industry, particularly their product-development solutions,” said Jon Meltzer, LabCorp’s senior vice president for corporate strategy. “We look forward to combining the capabilities of IFN and The NFL with Covance’s industry-leading nutritional analysis, contaminant and microbiology testing services. Supported by our enterprise expertise in logistics, molecular testing, data, analytics and contract research, we will continue to expand our capabilities to provide a truly differentiated offering to this vital industry.”
About LabCorp®
Laboratory Corporation of America® Holdings, an S&P 500 company, is the world’s leading healthcare diagnostics company, providing comprehensive clinical laboratory services through LabCorp Diagnostics, and end-to-end drug development support through Covance Drug Development. LabCorp is a pioneer in commercializing new diagnostic technologies and is improving people’s health by delivering the combination of world-class diagnostics, drug development and knowledge services. With combined revenue pro forma for the acquisition of Covance in excess of $8.5 billion in 2014 and more than 48,000 employees in over 60 countries, LabCorp offers innovative solutions to healthcare stakeholders. LabCorp clients include physicians, patients and consumers, biopharmaceutical companies, government agencies, managed care organizations, hospitals, and clinical labs. To learn more about Covance Drug Development, visit www.covance.com. To learn more about LabCorp and LabCorp Diagnostics, visit www.labcorp.com.
This press release contains forward-looking statements including with respect to estimated 2015 guidance and the impact of various factors on operating results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace, adverse actions of governmental and other third-party payers and the results from the Company’s acquisition of Covance. Actual results could differ materially from those suggested by these forward-looking statements. Further information on potential factors that could affect LabCorp’s operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2014, and the Company’s Form 10-Q for the quarter ended June 30, 2015, including in each case under the heading risk factors, and in the Company’s other filings with the SEC, as well as in the risk factors included in Covance’s filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the Company’s Form 10-K for the year ended December 31, 2014, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Matrix Expands Healthcare Advisory Team
RICHMOND, VA – February 5, 2015 - Matrix Capital Markets Group, Inc. (“Matrix”) is pleased to announce the expansion of its Healthcare Advisory Team with the addition of David Endom, Senior Associate. Mr. Endom will join David Keys, Director, who launched the practice in 2014, and Braden Hill, Senior Analyst.
Mr. Endom brings to Matrix more than 14 years of advisory and financial operations experience across a number of industries, including healthcare services, manufacturing, multi-site retail, and, most recently, charter schools. Prior to joining Matrix, Mr. Endom was Director of Financial Planning of KIPP DC, a leading network of charter schools based in Washington, DC. Previously, Mr. Endom was an Associate at Harris Williams & Co., where he worked on all phases of sell-side M&A transactions. He was also a Manager in Arthur Andersen’s Business Consulting practice, focused on strategic financial management projects.
“David is a great addition to our healthcare team. He augments our practice with significant experience in real estate and facilities as well as debt financing. Given the complexities within the healthcare sector, we have prioritized developing a specialized team with prior operating roles that can view an engagement through a different lens than a typical advisor,” commented David Keys. “We advise our clients as if we were in their position, because we have been.”
Contact:
David M. Keys, CFA (804) 591-2042 or dkeys@matrixcmg.com
David H. Endom (804) 591-2035 or dendom@matrixcmg.com
Braden R. Hill (804) 591-2062 or bhill@matrixcmg.com