< BACK TO SCREENER
US Renal Care
activeHealthcare — Frazier Healthcare / Leonard Green
Deal Terms
Entry Year2012
Entry EV$1.5B
Entry Multiple12x
Leverage6x
Debt Amount$0.9B
Risk Metrics
LTV (est.)60%
Debt / EV0.60x
Notes
PE-backed dialysis rollup challenging DaVita/Fresenius duopoly. 400+ clinics. Acquired by Innovative Renal Care (2019). Serial PE ownership: Frazier Healthcare, then Leonard Green. Dialysis patients are literally captive customers — can't easily switch providers. CMS reimbursement changes threatening margins.