Private markets firm buys Voorhees-based Axia for reported $800M

Axia Women’s Health, a Voorhees-based provider of business services to health care practices, has been acquired by a global private markets firm in a deal reportedly valued at nearly $800 million.

Partners Group is acquiring a majority equity stake in the business from Audax Private Equity, it said in a news release, with Axia’s management team and physician partners retaining a substantial minority stake.

The PE Hub website valued the deal at almost $800 million in a report.

“We have taken a mission-driven, patient-centric approach to expansion that is focused on building an integrated care model to deliver physician-led care of the highest quality and service level,” Axia CEO Charlie Choi said in a prepared statement. “We believe Partners Group’s ability to help build our platform and invest in expansion of care modalities makes the firm an ideal growth partner.”

Axia provides a platform of nonclinical business and administrative support services to a network of physician practices nationwide. Partners said it intends to draw on its experience transforming other multisite health care businesses to support Axia going forward.

Latham & Watkins LLP represented Partners in the transaction.