Deal Details

Blue Cloud Is Acquired by The Rise Fund

Healthcare

Blue Cloud, a portfolio company of Norwest, sale to The Rise Fund

Summary

Blue Cloud Pediatric Surgery Centers, LLC (“Blue Cloud” or the “Company”), a portfolio company of Norwest Venture Partners, LP (“Norwest”), has been acquired by The Rise Fund, TPG’s multi-sector global impact investing strategy. Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to Blue Cloud Pediatric Surgery Centers, LLC on this transaction.

About

Blue Cloud is the largest operator of pediatric dental ambulatory surgery centers in the United States with 15 facilities across 7 states serving over 23,000 patients per year. Blue Cloud’s unique clinical model increases access, decreases costs, and increases quality and safety for pediatric dental patients who require general anesthesia. The Company performs more pediatric dental surgeries per year than any other healthcare provider in the United States, primarily serving Medicaid and special needs patients. Blue Cloud’s vision is to be the leader in safety and quality for pediatric dental patients treated in surgery centers. Blue Cloud currently operates surgery centers in Texas, Kansas, Florida, North Carolina, California, Colorado, and Ohio. The Company has headquarters in both in Glen Rock, Pennsylvania and Houston, Texas.

Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. Norwest invests in early to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise, and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest is headquartered in Palo Alto, California.

The Rise Funds are a core pillar of TPG Rise, TPG's global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Fund invests behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations' Sustainable Development Goals. With more than $13 billion in assets across The Rise Funds, TPG Rise Climate, and the Evercare Health Fund, the TPG Rise platform is the world's largest private markets impact investing platform committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns. The Rise Fund is headquartered in San Francisco, California.

Healthcare

Blue Cloud, a portfolio company of Norwest, sale to The Rise Fund