Global Healthcare Advisors’ M&A Database


Our proprietary platform provides market intelligence on M&A deals, notable developments and regulatory changes pertinent to our clients.

Search by company, filter by vertical (for data beginning in January 2019), or just browse to see the latest news, updated daily.

Have a lead on a great M&A deal you’d like to share with us? Submit a deal.

Question? Contact us at research@ghadvisors.net.

Showing results 1 through 50 of 16415

Website
Vertical
Category
QTR
Year
Summary
Animal Health
Deal
Q4
2021
Audax Private Equity (“Audax”) announced today a strategic growth investment in Veterinary Practice Partners (“VPP”), a leading veterinary practice management group and portfolio company of Pamlico Capital. This investment will support VPP in its mission to transform the pet health industry by providing the best service and highest quality care to companion animals and their families, while significantly growing its strategic partnerships with veterinarians. VPP’s goal is to partner with animal hospitals to help them focus on providing excellent care to patients and service to its clients. VPP partners with veterinarians across more than 85 practices in over 20 states, caring for over 200,000 patients.
Digital Health, IT, & Software
Deal
Q4
2021
Clearlake Capital Group, L.P. (together with certain of its affiliates, "Clearlake") announced Friday it has signed a definitive agreement to sell Provation, a provider of software and SaaS-based clinical productivity and workflow automation solutions for healthcare customers, to Fortive Corporation ("Fortive") (NYSE: FTV). Clearlake invested in Provation in March 2018 through a carve-out acquisition from Wolters Kluwer and subsequently expanded the organization significantly. Under its ownership, Clearlake supported Provation and the management team across multiple growth initiatives. The Company was able to successfully acquire and integrate four strategic and highly accretive add-on acquisitions including MD-Reports, ePreop, iProcedures and endoPRO.
Oncology
Deal
Q4
2021
Astera Cancer Care, a New Jersey-based physician-owned multi-specialty community oncology practice, has started its New Jersey expansion with the recent addition of three oncology practices. These acquisitions have expanded Astera's ability to deliver high-quality, coordinated and patient-centered cancer care throughout New Jersey. With the addition of Hudson Hematology Oncology in Jersey City, Lindenberg Cancer & Hematology Center in Marlton, and the Bergen County practice of Giuseppe Condemi, MD, PhD, Astera Cancer Care now has over 60 cancer care providers at 18 care delivery sights across New Jersey and Pennsylvania with several additional care delivery sights under development.
Behavioral Health
Deal
Q4
2021
BayMark Health Services announced the acquisition of Polaris Renewal Services in Western Pennsylvania, operating two Opioid Treatment Programs (OTP) for adults. With locations in Perryopolis and Lemont Furnace, Polaris has been providing quality medication-assisted treatment (MAT) to Pennsylvanians for more than 15 years. Polaris has established themselves as a provider of comprehensive treatment for opioid addiction in a professional and compassionate environment. They will join the BayMark Health Services family as part of the MedMark Treatment Centers brand joining three existing MedMark OTPs in Pennsylvania.
Otolaryngology
Deal
Q4
2021
HearingLife, a leader in delivering personalized hearing care in 42 states, announced the acquisition of AudPractice Group (APG) audiology practices in North Carolina, South Carolina, and Florida. HearingLife will assume operations of the 41 APG clinics across the three states, making HearingLife the largest hearing care provider in North Carolina. HearingLife is a national hearing care company and part of the Demant Group, a global leader in hearing healthcare built on a heritage of care, health, and innovation since 1904. HearingLife operates more than 650 hearing care centers across 42 states.
Otolaryngology
Deal
Q4
2021
PIH Health has acquired House Clinic Associates effective Dec. 1. With the acquisition, seven physicians of House Clinic Associates are now part of its existing medical group, PIH Health Physicians. House Clinic Associates consists of a team of audiologists, otolaryngologists, neurotologists and neurosurgeons who are leaders in treating the causes of hearing, balance and skull-base disorders with advanced practices and procedures. The team treats a variety of ear-related disorders such as Meniere’s disease, acoustic neuromas, skull-base tumors, neurofibromatosis, and other complex neurological and neurosurgical disorders.
Animal Health
Deal
Q4
2021
Oppenheimer & Co. Inc. acted as Exclusive Financial Advisor on the sale of Chesapeake Veterinary Cardiology Associates (“CVCA”) to an undisclosed party. Founded in 1987 and veterinarian-owned, CVCA is the largest cardiology-focused veterinary practice in the U.S. with 21 board-certified cardiologists, two residency-trained cardiologists and eight residents in 14 practices across Maryland, Virginia, Kentucky, and Texas.
Orthotics & Prosthetics
Deal
Q4
2021
WillowWood Global LLC ("WillowWood," or the "Company"), a leading designer, manufacturer, and distributor of prosthetic products, announced Friday that it has entered into a strategic partnership with Blue Sea Capital LLC ("Blue Sea"), a growth-oriented private equity firm. As part of the strategic partnership, Blue Sea has made a substantial equity investment in WillowWood to accelerate its continued success. "Having spent several years diligently tracking its journey, we are thrilled to partner with WillowWood and its exceptional management team to support their next stage of growth," said Erin Lansky, Vice President at Blue Sea. "We're confident they'll continue to set the industry standard for product innovation and integrity and, as such, ‘level the playing field' for patients worldwide."
Physical Therapy & Outpatient Rehabilitation
Deal
Q4
2021
Human Performance and Rehabilitation Centers, Inc. (HPRC), a part of the Confluent Health family, is proud to announce their newest partnership with Performance Physical Therapy (Performance PT), a private and therapist-owned physical therapy practice located in Stockbridge, Georgia. “Helping our patients to help themselves has always been the core philosophy of Performance Physical Therapy,” said RM Barney Poole, PT, DPT, FAPTA, AT-Ret, President. “Our team has consistently proven that state-of-the-art physical therapy practices combined with a relaxing outpatient environment assists in returning to normal functional activity."
Physical Therapy & Outpatient Rehabilitation
Deal
Q4
2021
Ivy Rehab ("Ivy"), a national leader in outpatient musculoskeletal rehabilitative services, is proud to announce the addition of a new office in Plainview, NY. The Central Orthopedic Group has selected Ivy Rehab to acquire The Central Orthopedic Group's physical therapy service line located at its Plainview facility. "We have formed a wonderful relationship with the community in Plainview and look forward to seeing Ivy continue to serve it by providing the highest level of care for years to come," said Scott Silverberg, MD, managing partner of The Central Orthopedic Group.
Primary Care
Deal
Q4
2021
VillageMD announced Friday it has grown its relationship with Envision Medical Group and the experienced primary care team in 12 locations across three Michigan counties will now be practicing as Village Medical starting Nov. 17. The practices are located in Metro Detroit, including in Novi, Farmington, Livonia, Northville, South Lyon and Walled Lake. Village Medical also has two established practices in Westland, Mich. Village Medical offers comprehensive primary care across a broad range of physician services, including Village Medical at Home and virtual health visits.
Population Health
Deal
Q4
2021
P3 Health Partners (“P3” or “Company”), a patient-centered and physician-led population health management company, announced Friday that it has closed its previously announced business combination with Foresight Acquisition Corp. (Nasdaq: FORE) (“Foresight”). The transaction was approved at a special meeting of Foresight’s stockholders on December 3, 2021. The combined company will be named P3 Health Partners Inc. and will be led by P3’s management team. Its shares of Class A common stock and warrants are expected to begin trading December 6, 2021, on the Nasdaq under the ticker symbols “PIII” and “PIIIW”, respectively.
Pharmacy
Deal
Q4
2021
Kubat HealthCare, a leading health care service provider, announces today the acquisition of Ashland Pharmacy located at 1401 Silver Street in Ashland, Nebraska, 68003. "At Kubat HealthCare, it is our mission to making our patients' lives better by providing exceptional access to care and compassionate service," said Jim Rich, CEO of Kubat HealthCare, "We are pleased to partner with Ashland Pharmacy and extend our additional services and resources to Ashland and the surrounding communities." In 1994, Staci Hubert acquired Ashland Pharmacy. Now a Kubat HealthCare Partner, Ashland Pharmacy will continue to offer a full-service pharmacy out of their current location with the same operating hours.
Assisted Living
Deal
Q4
2021
On November 2, 2021, San Juan County residents voted in favor of the District acquiring the Village at the Harbor. Integration of the Village into the Hospital District will begin in early March of 2022. The current administrator at the Village, Evan Perrollaz, has agreed to remain in his position indefinitely following the acquisition. Part of the integration project includes adding a home healthcare program to the Village in late 2022. This will help senior residents on San Juan Island “age in place” by remaining within the comfort of their home while still receiving support from qualified caregivers and professionals.
Behavioral Health
Deal
Q4
2021
Cobb County Community Services Board and Haralson Behavioral Health Services are consolidating and integrating into Highland Rivers Health. Those agencies provide services for people with behavioral health issues, including substance abuse, and people with developmental disabilities. Following the consolidation, Highland Rivers will be the largest behavioral health provider in Georgia, with a 13-county service territory that is home to more than 1.7 million people – nearly 17% of Georgia’s population – across a 4,700 square mile area of northwest Georgia. With a combined workforce of nearly 1,000 professionals, the agency will have an approximately $75 million annual budget.
Pharmaceutical Services
Deal
Q4
2021
Labcorp (NYSE: LH), a leading global life sciences company, announced Friday that it has closed its acquisition of Toxikon Corporation, a contract research organization delivering best-in-class nonclinical testing services. The addition of Toxikon to Labcorp Drug Development bolsters Labcorp’s strong nonclinical development portfolio, and creates a strategic footprint for the company to partner with pharmaceutical and biotechnology clients in the Boston, Mass., area.
Pharmaceutical Services
Deal
Q4
2021
ANI Pharmaceuticals, Inc. (Nasdaq: ANIP) (ANI or the Company) announced that it has completed the previously announced acquisition of Novitium Pharma, a privately held, New Jersey-based pharmaceutical company with development, manufacturing, and commercialization capabilities. ANI Pharmaceuticals is a diversified bio-pharmaceutical company serving patients in need by developing, manufacturing, and marketing high quality branded and generic prescription pharmaceutical products, including for diseases with high unmet medical need.
Diagnostics
Deal
Q4
2021
Castle Biosciences, Inc. (Nasdaq: CSTL), a company applying innovative diagnostics to transform disease management and improve patient outcomes, today announced it has completed its acquisition of Cernostics, Inc. (Cernostics). Cernostics specializes in spatial biology and artificial intelligence-driven image analysis of tissue biopsies. Its TissueCypher® Barrett’s Esophagus Assay is the first precision medicine test designed to predict future development of high-grade dysplasia (HGD) and/or esophageal cancer in patients with Barrett’s esophagus (BE).
& Software, Behavioral Health, Digital Health, IT
Deal
Q4
2021
Pear Therapeutics, Inc. (“Pear Therapeutics”), the leader in developing and commercializing software-based medicines, called prescription digital therapeutics (PDTs), announced Friday the completion of its business combination with Thimble Point Acquisition Corp. (“Thimble Point”) (Nasdaq: THMA), a special purpose acquisition company (“SPAC”). The publicly traded company will be known as Pear Therapeutics, Inc. and will commence trading on Nasdaq under the ticker symbol “PEAR” on December 6, 2021.
Home Health & Hospice
Deal
Q4
2021
NOVA LEAP HEALTH CORP. (TSXV: NLH) ("Nova Leap" or “the Company”), a growing home health care organization, is pleased to announce that it has completed the acquisition of a South Carolina home care business. The execution of the definitive agreement and related information pertaining to this acquisition was previously announced on October 29, 2021.
Healthcare Real Estate
Deal
Q4
2021
Montecito Medical, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a medical building that is home to an ambulatory surgery center (ASC) in Amherst, New York. The 28,000 square-foot facility, which was completed in 2017, is 100% leased to the Ambulatory Surgery Center of Western New York.
Healthcare Real Estate
Deal
Q4
2021
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a dual-tenant Aspen Dental and WellNow Urgent Care property for $3.0 million.
Industry Trends, Medicare / Medicaid
Notable Developments
Q4
2021
A new report from the American Medical Association (AMA) documents unprecedented changes in Medicare spending as people decided to delay or forgo health care services during the onset of the COVID-19 pandemic. The new AMA report, “Impacts of the COVID-19 Pandemic on 2020 Medicare Physicians Spending” (PDF) analyzed Medicare claims data exclusive to physician services and found spending fell an estimated $13.9 billion (14%) below expected levels in 2020. Despite a mid-year rebound after sharp declines early in the year, Medicare spending on physician services during 2020 never recovered to its pre-pandemic trend.
Home Health & Hospice
Notable Developments
Q4
2021
Basically all of the publicly traded in-home care giants offered internal updates and expectations for the coming year this past week during a series of investor presentations. In addition to company-specific plans, the group discussed key policy developments and important macro-level trends such as more high-acuity patients coming to the home health setting. Home Health Care News tuned into the presentations, recapping some of the most interesting highlights below.
Medicare / Medicaid, Telehealth
Notable Developments
Q4
2021
The number of beneficiaries in traditional Medicare using telehealth exploded 63-fold in 2020 from 840,000 in 2019 to nearly 52.7 million, a new study found. The study, released Friday (PDF) by the Department of Health and Human Services (HHS), comes as advocates are pressing to make key flexibilities the federal government enabled at the start of the pandemic to be permanent. Even as telehealth use increased, there was still a decrease in Part B visits to doctors' offices. Although telehealth use increased among all providers, the biggest users of the technology during the pandemic turned out to be behavioral health specialties.
Telehealth
Notable Developments
Q4
2021
Telehealth was the right tech at the right time in 2020 —and is even on the rise — as are calls for “omnicare,” which combines digital and in-office visits to provide greater access to more affordable care. Four months post its Walmart acquisition, MeMD CEO Bill Goodwin shares his vision for a more affordable, accessible healthcare delivery model.
Hospitals & Health Systems
Notable Developments
Q4
2021
Watsonville Community Hospital has reached a preliminary agreement to sell its operations to a new healthcare district sponsored by the Pajaro Valley Healthcare District Project (PVHDP) to secure the hospital’s future and continue its role as a critical healthcare provider. The PVHDP is a not-for-profit organization created by the County of Santa Cruz, the City of Watsonville, the Community Health Trust of Pajaro Valley and Salud Para La Gente.
Pharmaceuticals & Life Sciences
Notable Developments
Q4
2021
Scilex Holding Company (“Scilex”), a subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), and Vickers Vantage Corp. I, a Cayman Islands corporation (NASDAQ: VCKA) (“SPAC”), today announced the signing of a letter of intent for a proposed business combination. Scilex is dedicated to the development and commercialization of non-opioid pain management products for treatment of acute and chronic pain. Sorrento is a clinical-stage, antibody-centric, biopharmaceutical company developing new therapies to treat cancers and COVID-19.
Home Health & Hospice
Deal
Q4
2021
Grant Avenue Capital, LLC, a healthcare-focused private equity firm, announced Thursday that its portfolio company, Fortis Home Health & Hospice, acquired Select Home Health, based in Indianapolis, Indiana. The founders of Select reinvested alongside other investors in Fortis as part of the acquisition. Fortis, with operations now in Indiana and Utah, is Grant Avenue Capital's home-based care buy and build initiative that was launched in December 2020. This transaction marks the expansion of Fortis into the Midwest region and is a further example of the company's flexible and partnership-based approach to acquisitions. In addition, the transaction represents the eighth add-on acquisition completed by Grant Avenue Capital in 2021.
Physical Therapy & Outpatient Rehabilitation
Deal
Q4
2021
Confluent Health has announced its newest partnership with Foothills Therapy Partners (FTP), a private and physical therapist-owned physical therapy group with a 45-clinic strong footprint across Arizona. In the metro Phoenix area, FTP operates 26 clinics under the Foothills Sports Medicine Physical Therapy™ brand and seven sports training and performance clinics which operate as Foothills Acceleration and Sports Training™ (FAST). In Tucson, FTP operates 12 clinics as ProActive Physical Therapy, including multiple hand therapy clinics.
Dental
Deal
Q4
2021
Smile Brands is pleased to announce its partnership with Dentistry of Sarasota in Sarasota, FL. The existing dental team and staff will remain with the office and the business will continue to operate under the name Dentistry of Sarasota. The partnership allows the office to focus exclusively on patient care with Smile Brands providing administrative support and services. Dr. Paul Jaworski and Dr. Benjamin Moricz founded Dentistry of Sarasota in 2010 with the goal of bringing healthy, beautiful smiles to patients of all ages. Today, Dr. Jaworski and Dr. Moricz lead a team of 16 from their growing Sarasota location.
Medical Devices
Deal
Q4
2021
Global investment firm Carlyle (NASDAQ: CG) announced today that funds managed by Carlyle have acquired a significant interest in medical device contract manufacturer Resonetics, valuing the company at approximately $2.25 billion. Carlyle will join existing investor GTCR, a leading private equity firm, as a meaningful shareholder in the company. Founded in 1987 and headquartered in Nashua, New Hampshire, Resonetics is a leading provider of micro-manufacturing for innovative medical devices in high-growth therapeutic areas and end markets. The company is focused on producing highly technical componentry for medical device applications, providing its customers with a broad range of services across the product lifecycle, from design & development to high-volume manufacturing.
Medical Devices
Deal
Q4
2021
GTCR, a leading private equity firm, announced Thursday that Corza Medical ("Corza") has acquired Katena Products, Inc. ("Katena"), a medical device company focused on ophthalmic surgery products. Founded in 1975 and headquartered in Parsippany, NJ, Katena is a leader in ophthalmic products used across cataract, glaucoma and corneal surgeries. Katena's product offering includes precision surgical instruments, single-use devices and specialty biologics that have been sold in more than 110 countries to more than 5,000 customers, including hospitals, ambulatory surgery centers and distributors. Katena has more than 200 employees across North America and Europe.
Pharmacy
Deal
Q4
2021
UnitedRx, the Midwest's largest long-term care pharmacy, has acquired Philadelphia-based MedCare LTC, expanding its footprint to the East Coast as part of a strategy to service facilities across the United States. The MedCare LTC location currently services assisted living facilities in and around the greater Philadelphia area, but UnitedRx will move them to the Skilled Nursing side of long-term care with a state-of-the-art pharmacy that will be opening in south Philadelphia the first quarter of 2022. The acquisition brings the total number of facilities where UnitedRx provides service to 294 facilities and 26,000 beds across 20 states including skilled nursing facilities, assisted living communities, group homes, intermediate care facilities (ICF-DD) and hospice.
Pharmacy
Deal
Q4
2021
Omnicell, Inc. (Nasdaq:OMCL), a leading provider of medication management solutions and adherence tools for health systems and pharmacies, announced Thursday it has entered into a definitive agreement with ReCept Holdings, Inc., a leading provider of specialty pharmacy management services for health systems, clinics, and physician groups, to acquire its business for total aggregate cash consideration of $100 million, subject to customary adjustments. The acquisition will broaden Omnicell’s portfolio of capabilities and services to address the significant need to improve access to and care coordination for complex medications.
Multi-Specialty and Other Physicians' Offices
Deal
Q4
2021
Froedtert Health and Sensia Wellness, LLC (Sensia) announced Thursday that Froedtert Health has acquired Sensia. The finalized agreement calls for providers and Sensia employer clients to be contracted with and serviced by Froedtert Health Workforce Health. The acquisition supports Froedtert Health’s continued growth within Wisconsin and builds on the organization’s suite of employer-based health care offerings including wellness programs, occupational health services, workplace clinics and other employer-related services – including COVID-19 related services. Sensia was an independent healthcare company providing comprehensive occupational health, wellness and primary care services to employers and their employees.
Digital Health, IT, & Software
Deal
Q4
2021
Netsmart announced Thursday it has acquired Remarkable Health, an industry-leading provider of artificial intelligence (AI) technology and software solutions for behavioral health, substance use and human services organizations. Together, the organizations will accelerate AI innovations and expand the Netsmart CareFabric® platform capabilities with enhanced solutions that improve human services and post-acute care clinical staff productivity and efficiency. Remarkable Health brings the CT|One® electronic health record (EHR) and Bells, the industry’s first virtual clinical documentation solution created for behavioral health and human services organizations to join Netsmart.
Digital Health, IT, & Software
Deal
Q4
2021
TCARE, Inc. the national leader in caregiver support & aging-in-place technology solutions, announced Thursday the acquisition of Ruby Home Services, Inc. a 25madison incubated company. Ruby provides software and tech-enabled services that empower seniors to age safely at home. TCARE provides an evidence-based data analytics platform to help reduce family caregiver burnout and is the current leader in providing home safety assessments for elders around the world.
Digital Health, IT, & Software
Deal
Q4
2021
OpenBots, Inc. (OB), the world's leading zero-friction RPA and workflow automation platform, announces its acquisition of araZach LLC, a healthcare, life sciences, and Salesforce solutions provider. The acquisition enhances OpenBot's capabilities to accelerate the zero-bot license revolution within these ecosystems. araZach started as a Salesforce consultancy with expertise in healthcare and life sciences. The araZach team has been solving "interoperability" problems within the healthcare industry using the OpenBots RPA platform extensively to build up its botConnector solution.
Digital Health, IT, & Software, Healthcare Consulting
Deal
Q4
2021
Nordic Consulting, a global health and technology consulting company, announced today that it has acquired S&P Consultants, a healthcare IT consultancy with a 25-year track record and an industry-leading reputation for Cerner services, including 2021 Best in KLAS honors. S&P will become a Nordic global company - alongside Bails, Healthtech, and Tasman - collectively helping healthcare leaders navigate complexity and harness technology to bring healthcare forward. Nordic's global footprint and deep experience in Epic and MEDITECH, coupled with S&P's Cerner expertise, presents a significant opportunity for both companies to provide clients with a wide range of advisory and technology services across the largest EHR platforms.
Animal Health
Deal
Q4
2021
Pets & Vets is ecstatic to welcome Penny Paws Animal Clinic to the family. Penny Paws not only offers traditional veterinary services in brick-and-mortar locations but also mobile units that provide vaccinations, microchipping, preventative care, and more in the DFW and San Antonio areas. With physical locations in Richland Hills, Fort Worth, Arlington, and Grand Prairie, it is extremely easy to schedule an appointment with one of their expert doctors.
Medical Devices
Deal
Q4
2021
Hillrom (NYSE: HRC) announced Thursday that its shareholders have voted to approve the previously announced pending acquisition by Baxter International Inc. (NYCE: BAX) at a special meeting. Hillrom shareholders voted overwhelmingly in favor of the transaction. Under the terms of the merger agreement, Hillrom shareholders will receive $156.00 per share in cash for every share of Hillrom stock they own immediately prior to the effective time of the merger.
Orthopedics
Notable Developments
Q4
2021
Large independent orthopedic groups are becoming more prominent across the U.S. as small and solo practices continue to decline amid economic challenges that show no signs of slowing down. Though the number of physicians joining hospitals and health systems is on the rise — almost 70 percent of physicians reported being employed by hospitals or corporate entities in 2020 — so too is the number of physicians in large, physician-owned groups. It's no secret why many independent physicians believe large specialty groups may be the way forward.
Health Plans & Payor Services
Notable Developments
Q4
2021
As the care-delivery landscape in the United States evolves in a COVID-19 era, both incumbents and new entrants are reimagining models of care. Technology and medical advancements are transforming the way care is delivered and experienced, and changes in regulations and incentives across the industry are redefining how the healthcare system works and interacts. As a result, care delivery is undergoing several transformations: from sick care to preventative whole-person care, from intermittent to continuous care, from facility-based settings to omnichannel offerings, and from standardized to personalized solutions.
Home Health & Hospice
Notable Developments
Q4
2021
When Aveanna Healthcare Holdings Inc. (Nasdaq: AVAH) became a public company earlier this year, it expressed the desire to expand its reach past pediatric home health to seniors. While there were some skeptics within the industry on how feasible that would be, the Atlanta-based company has done an impressive job executing on that strategy thus far. On Wednesday, it announced that it had closed on Southern California-based Accredited Home Care for a purchase price of $180 million. “California is one of our premier markets — and one of our core markets in the country,” Aveanna COO Jeff Shaner told Home Health Care News. “Adding to our current California business just made a ton of sense. One of our core strategies is to create density in the markets that we serve."
Home Health & Hospice
Notable Developments
Q4
2021
Valley Hospice of Arizona, Inc., recently filed for bankruptcy protection in the face of at least $2.49 million owed to more than 70 creditors. The bankruptcy petition was filed under Chapter 11 subchapter V, indicating the hospice owes less than $7.5 million, though a total amount was undisclosed. Many of the creditors were unsecured, or those incurred without collateral. The company’s most significant unsecured debts included Medicare overpayments, federal and state payroll taxes, employee health care benefit expenditures and legal expenses, as well as debts owed to technology, pharmacy and medical supply/service vendors, according to court documents.
Pharmaceutical Services
Notable Developments
Q4
2021
FHI Clinical Inc. announced Thursday its intent to acquire Triclinium Clinical Development Proprietary Limited (TCD), a full-service, South African-based CRO and a subsidiary of EOH, one of the largest technology services companies in Africa. With this transaction, FHI Clinical will employ more than 425 global staff representing 12 countries. Headquartered in Centurion (Gauteng), South Africa, TCD has significant access to the South African market—a competitive market with significant growth opportunity. South Africa accounts for most of the clinical trial activity in sub-Saharan Africa with the majority being infectious disease (ID) therapeutic studies. With approximately 285 employees already based in East and West Africa, FHI Clinical sees a unique opportunity to further expand its share of the ID market and become the dominant service provider in sub-Saharan Africa.
Medicare / Medicaid
Regulatory
Q4
2021
Congressional leaders have struck a deal to avert a government shutdown, but they didn't include a major priority for healthcare providers: preventing significant Medicare reimbursement cuts that are slated to take effect next month. Medicare providers stand to lose about $36 billion in reimbursements stemming from a 4% cut set to take effect in January, according to the nonpartisan Congressional Budget Office. The continuing resolution lawmakers will consider also does not address the 2% Medicare cuts dictated by the 2011 budget sequestration law that Congress postponed last year as part of the government's response to the COVID-19 pandemic. Lawmakers on Thursday didn't detail concrete next steps but indicated the issues will be resolved before Congress concludes its business for the year.
Multi-Specialty and Other Physicians' Offices
Deal
Q4
2021
Fast Pace Health ("Fast Pace"), a leading provider of outpatient healthcare services to rural communities, announced today that it has partnered with Rural Health Alliance ("RHA") to expand its value-based care service offering to underserved rural populations and increase access to care for many vulnerable Americans. The combination results in a leading, multi-specialty provider of rural healthcare and value-based care population health management services through a network of 170 clinics and over two million annual patient visits across the states of Tennessee, Mississippi, Kentucky, Louisiana, and Indiana. Fast Pace is a portfolio company of Revelstoke Capital Partners, a private equity firm focused on investing in healthcare services companies.
Behavioral Health
Deal
Q4
2021
Center for Social Dynamics, LLC (“CSD”), a portfolio company of NMS Capital (“NMS”), announced Tuesday that it has partnered with South Sound Behavior Therapy, LLC (“SSBT” or the “Company”). Operating throughout Washington state with a focus on the greater Seattle and Olympia regions and founded by Jennica Warner, BCBA, SSBT is a well-established, fast-growing applied behavioral analysis (“ABA”) services company specializing in personalized, evidence-based Autism Spectrum Disorder (“ASD”) treatment. The Company maintains a robust client-base and clinical staff, long-standing relationships with key funding sources, and a best-in-class reputation for clinical excellence and patient outcomes.