Healthcare-focused growth equity firm River Cities Capital Funds, or RC Capital, has linked up with James River Cardiology and formed Aligned Cardiovascular Partners.

Terms were not disclosed in the announcement issued Wednesday, May 31, by James River’s financial adviser, Provident Healthcare Partners LLC.

The Provident team that advised James River was led by Eric Major and Ajeya Shekar. James River received legal counsel from Kaufman & Canoles PC.

Raliegh, N.C.- and Cincinnati-based RC Capital tapped McDermott Will & Emery LLP for legal advice.

RC Capital, which has offices in Cincinnati and Raleigh, N.C., focuses on the healthcare services, medical device and healthcare IT sectors. In 2022 it was raising its seventh fund with a $300 million target.

James River, founded by Mitesh Amin in 2010, has six clinics and an office-based lab in the greater Richmond, Va. market. It has eight doctors and 17 total providers.

Recent deal activity in the cardiology sector includes a Lee Equity Partners LLC partnership with Cardiovascular Institute of the South and the subsequent formation of Cardiovascular Logistics in January. Cardiovascular Logistics acquired First Coast Cardiovascular Institute in April.

More broadly, healthcare has remained a relatively active sector amid a slowdown in deal flow, with several advisory firms bulking up their practices in 2023 as they prepare for a wave of transactions in 2024 and beyond.

Editor’s note: The original version of this article was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.