Audax Private Equity (“Audax”) has announced that it has signed a definitive agreement to sell Axia Women’s Health to Partners Group on behalf of its clients.
Axia Women’s Health (“Axia” or the “Company”) is a leading women’s healthcare provider in the U.S. The Company is headquartered in Voorhees, New Jersey, and provides a highly integrated platform of non-clinical business and administrative support services such as accounting, HR, insurance, IT, and practice management services to its network of physician practices across the U.S. Axia partners with more than 80 care centres, comprising 150 locations and supporting 475,000 patients annually, which offer a wide range of care including obstetrics, gynaecology, laboratory, mammography, urogynecology, fertility, and other women’s health sub-specialities. Axia is at the forefront of delivering women’s healthcare via an integrated model that treats patients across different phases of life while supporting physicians’ clinical autonomy and ability to focus on care.
Since being formed by Audax in 2017, Axia has undergone a number of strategic growth initiatives:
- Expanded the continuum of care available to patients including investments in the laboratory, mammography, urogynecology, fertility, and other capabilities in women’s health
- Developed value-based care programs, technology innovations, and care analytics to improve patient’s experience and outcomes
- Completed eighteen add-on acquisitions including expansion into the Midwest market, representing a significant step towards building a national platform
“Over the last four years, Audax has supported our mission to create a more caring, connected, and progressive women’s healthcare community.”
Charlie Choi, Chief Executive Officer of Axia, commented, “Over the last four years, Audax has supported our mission to create a more caring, connected, and progressive women’s healthcare community. Audax was instrumental in enabling growth, both organically and through acquisitions while investing in key executive talent and systems to support long-term growth. We look forward to our next chapter with Partners Group to continue building sustainable value as a national women’s health platform.”
Adam Abramson, Managing Director at Audax, said, “We’ve enjoyed a terrific partnership with Charlie and the Axia team and are proud of the accomplishments they have made in improving women’s healthcare. We wish continued success to Axia as the Company embarks on the next phase of growth with their new partner.”
Moelis & Company LLC served as financial advisor and Ropes & Gray served as legal advisor to Axia.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 950 add-on companies and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees, Audax is a leading capital partner for North American middle-market companies. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group seeks to generate superior returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
About Axia
Axia Women’s Health is leading the way in improving women’s health. At the core of achieving this is a caring, connected, and progressive community of 400 providers across 150 women’s health centres in New Jersey, Pennsylvania, Indiana, Ohio, and Kentucky. The rapidly growing network spans OB/GYN physicians, breast health centres, high-risk pregnancy centres, two laboratories, urogynecology, and fertility centres. Together, Axia Women’s Health puts women first by delivering the personalized care needed for women to lead healthier, happier lives. Learn more at www.AxiaWH.com.
