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Partners Group Buys Careismatic Brands for $1.3 Billion

Partners Group Holding AG bought medical-apparel company Careismatic Brands for about $1.3 billion including debt, according to a person with knowledge of the matter, in the private equity firm’s latest health-care deal.

The Swiss company purchased Careismatic from private equity shop New Mountain Capital, according to a statement Thursday that didn’t disclose terms of the transaction. Partners Group plans to bolster Careismatic’s growth by introducing new products and digitizing sales and marketing.

Partners Group, with more than $96 billion in assets, has been pursuing deals in niche segments of the health-care industry. Recent acquisitions include vision-services provider EyeCare Partners and Wedgewood Pharmacy, which provides specialty medications for animals. In August, Partners Group agreed to sell its majority stake in supply-chain outsourcing specialist PCI Pharma Services to Kohlberg & Co. and Abu Dhabi’s Mubadala Investment.