Category: Sverica News

Boston, Massachusetts – April 3, 2019 – Sverica Capital Management LP (“Sverica”) announced today that the Institute for Women’s Health (“IFWH”) has joined Women’s Health Texas (“WHT”), a joint venture partner of Women’s Health USA (“WHUSA”).

Since 1996, IFWH has been committed to exceptional women’s healthcare and includes more than 30 physicians at 8 locations. This new arrangement will make IFWH part of the Women’s Health Texas physician group and will allow both groups to expand their influence as a leading and high-performance women’s care delivery network in Texas, sharing collective resources and learnings to provide an exceptional patient experience. The groups will draw on the more than 20-year expertise of Women’s Health USA, a leading MSO in the women’s health space, for their management services.

Paul Murphree, MD, who serves as Chairman of Women’s Health Texas Board of Directors as well as President of the organization, spoke enthusiastically about the expansion and the potential it brings. “We see joining with IFWH as a very important piece in the Women’s Health Texas growth plan as we continue to expand in Texas. IFWH has a strong and reputable foundation in the San Antonio market that complements what we have already created in the Austin area.”

Karen Carcamo, MD, the 2020 President Elect of the IFWH group, stated “We are excited to work with Women’s Health Texas and believe it will enhance our efforts to bring the most advanced, innovative, and highest quality medical care to our communities. This partnership allows our physicians to focus more on patient care while leveraging expertise in the business aspects of our practice.”

Goran Dragolovic, CEO at Women’s Health USA, commented on the company’s market and purpose: “Our mission is to support physicians in the women’s health field by protecting their clinical autonomy and allowing them to maintain control of their practice, and by empowering them to more effectively design and deliver optimal care for their patients.” The addition of this new group expands Women’s Health USA’s visibility as a premier women’s health services company – with nearly 90 providers throughout Texas and more than 350 other providers in other states.

About Women’s Health USA
Women’s Health USA partners with ObGyn, reproductive endocrinology, and other specialty women’s health practices across the United States.  It has a 20-year history of implementing creative growth strategies supporting streamlined operational costs, payer alignment, merger and acquisition plans, ancillary services development, marketing, and risk management services.  Its unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information, please visit www.whusa.com.

Boston, Massachusetts – February 14, 2019 – Sverica Capital Management LP (“Sverica”) announced today that Women’s Health USA (“Whusa”) has finalized an expansion, and long-term extension, of its business partnership with Women’s Health Connecticut (“WHC”).  WHC is a group of 250+ OBGYN physicians and mid-level providers across 80 locations in Connecticut.

Dr. Richard Ruben, who is a practicing physician while he serves as Chairman of the WHC board, spoke enthusiastically about this partnership expansion and the potential it brings for continuing future success. “We look forward to our ongoing partnership with Women’s Health USA and with Nancy Bernstein, who continues as CEO of Women’s Health Connecticut. Our dual focus will be on maintaining our leadership position as an OBGYN specialty group and on broadening our strategies so that we can better meet patient demand for convenience and care coordination. This partnership allows us to maintain our focus on the best patient care as we move into our next stage of growth.”

Goran Dragolovic, CEO at Women’s Health USA, commented on the news: “Women’s Health Connecticut, and its impeccable reputation, has long been a vital partner to us. Our very strong, durable, and collaborative relationship allows us to integrate our respective strengths and competencies to further advance the interests of women’s health within a rapidly changing healthcare environment. We are energized by this partnership expansion, as we work together to preserve and expand the unique contribution and impact of independent providers of women’s care.

The addition of this new partnership expands Women’s Health USA’s visibility as a premier national women’s health services company – now active in 6 states and serving more than 750,000 patients annually.

About Women’s Health USA
Founded in 1997, WHUSA partners with OBGYN, reproductive endocrinology, and other specialty women’s health practices across the United States. It has a 20-year history of implementing creative growth strategies supporting streamlined operational costs, payer alignment, merger and acquisition plans, ancillary services development, marketing, and risk management services. Its unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information see www.whusa.com.

Boston, Massachusetts – February 5, 2019 – Sverica Capital Management LP (“Sverica”) announced today that Resonetics has acquired Caribou Technologies (“Caribou”), based in Blaine, Minnesota, a leading supplier of centerless grinding, forming, coiling, machining and laser processing for the medical device industry. In addition to servicing the large number of medical device manufacturers in the Minneapolis market, Caribou has built a strong and growing customer base in high growth market segments around the world. Since being founded in 2005 by Dan and Wendy Honeck and Connie Magnuson, Caribou has grown consistently by developing novel engineered solutions and adding new capabilities to enhance the customer experience.

“Connie, Dan and Wendy have established a great reputation in the industry by building a talented team and providing innovative manufacturing processes,” said Tom Burns, President and CEO, Resonetics. “They’ve also invested in an impressive 50,000 square foot facility that highlights their commitment to their employees and customers and provides a great venue to serve our expanding business needs.” The acquisition broadens Resonetics’ capabilities in several important growth markets, most notably neurovascular, structural heart and other interventional specialties, adding new manufacturing capabilities to produce tightly toleranced metal components and sub-assemblies for leading edge devices.

“We are very proud of what we’ve created at Caribou Technologies,” expressed Dan Honeck. “We’ve remained true to our original promise of building a great company and redefining customer experiences and have been rewarded with a great group of employees and many loyal customers.” Added Connie Magnuson, “It’s been exciting to experience our growth over the past 14-years. We know there is much more that can be achieved, and we look forward to working with the Resonetics team to continue to build a special company on a larger scale.”

About Resonetics
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs, builds and integrates its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading edge technology. Combining state-of-the-art laser systems with a large and innovative technical team allows Resonetics to partner with customers and provide winning solutions that meet all technical, quality and economic requirements. Learn more at www.resonetics.com. Resonetics was acquired by Sverica in October 2014 and recapitalized by Sverica in February 2018 with GTCR taking a majority stake and Sverica and Resonetics management retaining a minority stake in the company.

Boston, Massachusetts – August 21, 2018 – Sverica Capital Management LP (“Sverica”) today announced that it had acquired a majority interest in Gener8, LLC (“Gener8”).  The investment marks Sverica’s sixth investment from its fourth fund.

Based in Sunnyvale, CA, Gener8 designs and manufactures life science instrumentation, complex clinical devices as well as advanced industrial systems, leveraging expertise in microfluidics, optics, electronics and embedded systems. Its capabilities include end-to-end design, development, prototype and low-to-medium volume manufacturing. David Klein, founder and CEO, said “Gener8 has independently grown to be a significant player in the technology design, engineering and manufacturing space, but in partnership with Sverica, and the associated experience and capital they bring, Gener8 will be well-positioned to realize its long-term potential as a global provider of technology solutions.”

Dave Finley, Managing Partner at Sverica said, “Our interest in Gener8 was born out of our experience in medtech manufacturing. Gener8 occupies a compelling position at the intersection of technological trends and the commercialization of IP. Sverica is excited to partner with the Gener8 team to build a leader in the engineering and production of turnkey medical and industrial technologies.” Gregg Osenkowski, Principal at Sverica added, “We were attracted to Gener8 based on their combination of broad, multidiscipline engineering competencies together with manufacturing operations, which our research showed to be a true differentiator.”

About Gener8
Gener8, founded in 2002, is a leading provider of turnkey design and manufacturing services specializing in high complexity products, primarily for medical device, diagnostics and industrial applications. Gener8 maintains state-of-the-art facilities and a world-class engineering team with more than 30 PhDs spanning a multitude of disciplines, including electrical, mechanical, software, optical and systems engineering.  For more information, please visit www.gener8.net.

San Francisco, California – October 25, 2018 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that they have made an investment in Gorilla Logic (“Gorilla Logic” or the “Company”). The investment marks Sverica’s seventh platform investment from its fourth fund.

Based in Boulder, CO, Gorilla Logic provides software development and consulting services through high-performance, distributed Agile teams both onshore in the U.S. and nearshore from its development center in Costa Rica. Gorilla Logic’s capabilities include UI / UX design, front and back end development, DevOps, QA, Security, IoT, and Big Data for both web and mobile applications, with a cloud-first approach as a Microsoft Gold Partner, and an Amazon Web Services (AWS) Consulting Partner.

Stu Stern, CEO and co-founder said “We are excited for Gorilla Logic to enter into the next phase of growth and capitalize on the foundation we’ve built as a leading provider of nearshore Agile software development teams. Sverica has a track record of supporting companies at our stage through continued growth, and they recognize the value of our service offering as well as the strong culture of excellence that we’ve built at the Company. We are pleased to have them as Partners.”

“We believe Gorilla Logic is well-positioned for continued growth given the positive trends we see around the increasing proliferation and importance of software applications, digital transformation, and the adoption of DevOps and Agile software development methodologies. The Company’s longstanding relationships with blue chip enterprise customers signifies their ability to execute and truly become a strategic partner for the software development organizations they serve” said Frank Young, Managing Partner at Sverica.

About Gorilla Logic
Gorilla Logic was founded in 2002 and is headquartered in Boulder, CO with a nearshore software development center in San Jose, Costa Rica. The Company employs nearly 300 software developers with a wide range of full stack capabilities. Gorilla Logic partners with software development organizations of enterprises to increase their success rate and accelerate their time to market with purpose-built Agile software development teams. For more information please visit www.gorillalogic.com

Boston, Massachusetts – October 23, 2018 – Sverica Capital Management LP (“Sverica”) announced today that Resonetics has acquired STI Laser Industries, Ltd. (“STI”), based in Or Akiva, Israel, a leading supplier of laser processing, nitinol shape setting and electropolishing, and cleanroom assembly and packaging for the medical device industry. In addition to servicing the prolific startup community in Israel, STI has developed a global business with extensive customer relationships in the U.S., Japan, China and Korea. Since being founded in 1998 by Tovy Sivan, President & CEO, STI has grown rapidly by identifying unmet customer needs and responding aggressively with customized solutions.

“Israel is recognized around the world as an important medical device center and we are very excited to gain access to these customers with STI. Tovy’s entrepreneurial spirit and the strong management team he assembled have created an impressive business serving the structural heart, neurovascular and minimally invasive surgery markets. The acquisition also broadens Resonetics’ nitinol processing capabilities, an important capability to serve our growing interventional business” said Tom Burns, President and CEO, Resonetics.

“I am very proud of the position STI has built in the industry over the past 20 years” remarked Tovy Sivan. “By joining forces with Resonetics now, we can offer our customers a broader set of manufacturing capabilities with the resources necessary to support best-in-class prototyping and high-volume production options in Israel, the United States, Europe and Costa Rica. We are uniquely positioned to service a growing list of industry leaders and I look forward to continuing to build this business with the Resonetics team.”

STI is doubling the size of its operations in Or Akiva, 40 minutes North of Tel Aviv. Building 2 is under construction and will open in early 2020 to increase the Israel operation to 60,000 sq. ft. to accommodate the company’s growth and new manufacturing capabilities.

About Resonetics
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs, builds and integrates its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading edge technology. Combining state-of-the-art laser systems with a large and innovative technical team allows Resonetics to partner with customers and provide winning solutions that meet all technical, quality and economic requirements. Learn more at www.resonetics.com. Resonetics was acquired by Sverica in October 2014 and recapitalized by Sverica in February 2018 with GTCR taking a majority stake and Sverica and Resonetics management retaining a minority stake in the company.

Boston, Massachusetts – October 11, 2018 – Sverica Capital Management LP (“Sverica”) announced today that Women’s Health USA (“WHUSA”) has entered into a joint venture arrangement with Arizona OBGYN Affiliates (“AOA”), based in Phoenix, Arizona, a leading OBGYN group practice with 32 physicians and 20 mid-level providers. AOA consists of 5 branches and 10 offices in the greater Phoenix metro area.

Dr. Michael Urig, FACOG, who serves as Chairman of AOA, spoke enthusiastically about the partnership expansion and the potential it brings for AOA’s future success. “We look forward to our ongoing partnership with Women’s Health USA in order to continue delivering great and affordable care to our patients along with keeping our autonomy as physicians. This partnership allows us to focus more on patient care while enjoying combined expertise in the business aspects of our practice. I’m excited and proud of our AOA physicians and partners who have helped build this wonderful service for women in the Phoenix area.”

Andrew Villa, MD, the President of the group, added. “We are excited to work with Women’s Health USA to further our mission to provide exceptional healthcare to women through Arizona’s leading women’s health practice. Our new partnership will enhance our efforts to bring the most advanced, innovative, and highest quality medical care to our communities. Moving forward together will allow us to expand our reach into other communities throughout Arizona, elevating the level of care to women.”

Goran Dragolovic, CEO at Women’s Health USA, commented on the company’s market and purpose: “Our mission is to support physicians in the women’s health field by protecting their clinical autonomy and allowing them to maintain control of their practice, and by empowering them to more effectively design and deliver optimal care for their patients. Drs. Urig and Villa and the rest of the AOA providers have a collective vision, passion and commitment to quality that is palpable, and we are energized by this opportunity to partner with them.”

About Women’s Health USA
Founded in 1997, WHUSA provides OBGYN, In Vitro Fertilization, and other specialty women’s health practices with a full suite of practice management solutions including payor contracting, revenue cycle management, EMR support, financial & human resources management, merger & acquisition support, ancillary services development, and risk management services.  WHUSA’s unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information, please visit www.whusa.com.

San Francisco, California – July 31, 2018: Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that its portfolio company, Synoptek, has completed its acquisition of Indusa, a global technology company focused on end-to-end enterprise software solutions and services. The acquisition helps further position Synoptek as one of the leading digital transformation and IT management providers and bolsters its capabilities across a variety of key Microsoft technologies.

“This acquisition means we have all of the delivery capabilities to plan, build, and manage complete integrated solutions in the cloud coupled with an emphasis on compliance and security,” said Tim Britt, CEO of Synoptek. “With our breadth and depth of expertise, we can deliver a complete digital transformation, helping organizations leverage an integrated technology platform that will simplify their IT, accelerate change more cost effectively, and enable them to achieve business results faster.”

“The acquisition of Indusa aligns directly with our strategy of moving up the technology stack to the application level, deepens our expertise in a variety of high growth service areas, and expands our global delivery capacity,” added Frank Young, Managing Partner at Sverica.

Along with their current managed support services, Synoptek will be able to further offer predictive analytics, business intelligence, and process innovation solutions. Additional capabilities will include:

• Business consulting and business systems implementation
• Predictive analyticsand enhanced internet-of-things delivery capabilities
• Business systems planningand implementation expertise across CRM, analytics, eCommerce, ERP, as well as productivity and collaboration solutions
• Additional cloud migration and support capabilities
• Highly skilled personnel across: Microsoft Dynamics (365, AX, CRM), Power BI for Office 365, Azure Data Factory, Azure SQL Data Warehouse, Azure Analysis Service, Tableau, and Magento
• Expansive expertise across broad platforms within Microsoft and Amazon Web Services

About Synoptek
Synoptek provides information technology management services, consulting and IT leadership to organizations worldwide. The firm manages and operates IT infrastructure with 24/7 operations, automated toolsets, and highly skilled technologists. Synoptek’s trusted team of IT professionals provides superior end user and device management support to improve business performance and success. Synoptek offers a complete suite of managed IT services at the service levels necessary for customers to excel as high performing organizations. For more information, please visit https://synoptek.com/.

Resonetics, which is backed by GTCR and Sverica Capital Management (“Sverica”), announced today that it has acquired Medelec, Puidoux, Switzerland, a leading supplier of metal tubing and other components to the medical device industry. Founded in 1952, Medelec has evolved over three generations of ownership by the Butty family. The company has developed a reputation for the highest quality tubing used in medical devices and works with a wide range of metals including assorted stainless steels and precious and semi-precious metals. In addition to fabricating tubing from flat stock, Medelec offers additional manufacturing capabilities including laser cutting and welding and CNC machining.

“We are excited about the Medelec team joining Resonetics. Marc and Sandra Butty have established a very strong reputation in the Medtech industry for precision and quality and have made significant investments in technology to complement their decades of experience” said Tom Burns, President & CEO, Resonetics.

About Resonetics
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs, builds and integrates its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading edge technology. Combining state-of-the-art laser systems with a large and innovative technical team allows Resonetics to partner with customers and provide winning solutions that meet all technical, quality and economic requirements. Learn more at www.resonetics.com. Resonetics was acquired by Sverica in October 2014 and recapitalized by Sverica in February 2018 with GTCR taking a majority stake and Sverica and Resonetics management retaining a minority stake in the company.

DeFY partners with best-in-class and emerging cybersecurity technology vendors to build tailored security programs for its clients, which include leading enterprises in the financial services, healthcare, manufacturing, and retail verticals throughout the United States. DeFY provides front-end consultation and assessment services, as well as integration, testing, and support services across a wide variety of security technologies.

“The DeFY team is excited to announce our partnership with Sverica as we continue to drive growth with a strategic investor who has experience in cybersecurity. We have established a great long-term relationship with the Sverica team dating back to their investment in Accuvant, and are excited to be working with them again as we endeavor to build a best-in-class cybersecurity solutions provider”, said Justin Domachowski, Founder and CEO of DeFY. Domachowski will continue to lead the Company, while Frank Young, Managing Partner at Sverica, and Michael Dougherty, Vice President at Sverica, will join DeFY’s Board of Directors as part of the transaction. David Roshak, the former CFO of Accuvant and Optiv, will also be joining the Board as an Independent Director.

“In just a few short years, Justin and the DeFY team have rapidly built a successful business and developed extremely strong customer relationships with a number of leading enterprises. We look forward to partnering with Justin and DeFY to help guide the Company through continued growth and national expansion”, said Frank Young, Managing Partner at Sverica.

Michael Dougherty, Vice President at Sverica, added “We believe DeFY is well-positioned to capitalize on the continued positive tailwinds in cybersecurity. The landscape of technologies and threats is evolving daily and increasing in complexity. DeFY can help enterprises navigate this environment to build robust security programs, as well as expand the reach and effectiveness of its technology partners.”

About DeFY Security
DeFY is a leading cybersecurity solutions provider based outside of Pittsburgh, Pennsylvania. DeFY partners with top cybersecurity technology vendors to deliver solutions that meet the needs of enterprise clients across a variety of industries. Founded in 2017, DeFY has rapidly grown to become a leader in the space. For more information, please visit https://www.defysecurity.com/.

Boston, Massachusetts – April 5, 2018 – Sverica Capital Management LP (“Sverica”) announced today that Women’s Health USA (“WHUSA”) has entered into a joint venture arrangement with Central Texas OB/GYN Associates (“CTOA”), based in Austin, Texas.  In this joint venture, WHUSA will provide CTOA access to capital and professional resources needed to expand market share and provide the necessary tools to focus on superior customer service and ensure an enhanced care delivery platform for its patients.  As with all WHUSA partners, a key objective is to deliver on the triple aim – to improve care experiences, health outcomes and total cost of care for female patients.

“We are excited to partner with CTOA, a national preeminent and respected leader in women’s health care,” said Women’s Health USA CEO Goran Dragolovic. “Their long legacy and uncompromising commitment to patient care and clinical excellence made them ideal partners for us and we look forward to bringing an expanded set of solutions and value to women patients, their employers and insurers, in central Texas and beyond.”

“Adding the resources of Women’s Health USA to Women’s Health Texas, CTOA’s Austin-based MSO, gives us enormous advantages,” says Dr. Paul Murphree, President of CTOA. “This partnership allows our physicians to focus even more on the high quality, patient-centered care that is our hallmark. By working with other Women’s Health USA physicians around the country, we’ll be able to improve the exceptional value we already provide, while expanding our care into new areas.”

With this change, CTOA will become known as Women’s Health Texas.

About Women’s Health USA
Founded in 1997, WHUSA provides OBGYN, In Vitro Fertilization, and other specialty women’s health practices with a full suite of practice management solutions including payor contracting, revenue cycle management, EMR support, financial & human resources management, merger & acquisition support, ancillary services development, and risk management services.  WHUSA’s unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information, please visit www.whusa.com.