Houlihan Lokey Advises KabaFusion

Houlihan Lokey is pleased to announce that KabaFusion, a portfolio company of Novo Holdings A/S (Novo Holdings), has been acquired by Nautic Partners, LLC (Nautic). Houlihan Lokey served as the exclusive sellside financial advisor to KabaFusion and Novo Holdings. The transaction closed on January 30, 2026.

KabaFusion is a national provider of essential chronic and acute infusion therapies. The company serves patients in 45 states through its nationwide network of home infusion pharmacies, alternative infusion sites, and home health agencies. KabaFusion was founded in 2010 by Chief Executive Officer Dr. Sohail Masood, a serial entrepreneur, philanthropist, and a pioneer in patient-focused infusion therapies with more than 30 years of clinical experience running home infusion pharmacies. The company is dedicated to working proactively with patients, healthcare practitioners, and payors to provide comprehensive support before, during, and after treatment.

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Through its Seed, Venture, Growth, Planetary Health Investments, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2024, Novo Holdings had total assets of USD 148 billion.

Nautic is a middle-market private equity firm based in Providence, Rhode Island, that focuses on investments in three sectors: healthcare, industrials, and services. Nautic has completed more than 160 platform transactions over its 38-year history. The firm employs a proactive, thematic investment strategy and partners with strong management teams to accelerate the growth of its portfolio companies through strategic add-on acquisitions, targeted operational initiatives, and deep sector expertise.

This transaction represents Houlihan Lokey’s third time advising the company and further highlights its leadership in the pharmacy sector, becoming the 17th closed transaction in this space since 2020 and its 10th closed transaction since 2024. Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the world. In 2025, the group closed 45 transactions and was ranked by LSEG as the No. 1 M&A advisor for all global healthcare transactions.*

Houlihan Lokey served as the exclusive financial advisor to KabaFusion and Novo Holdings and assisted in initiating, structuring, and negotiating the transaction on their behalf.

*Excludes accounting firms and brokers.

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