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.

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Showing results 1 through 50 of 8183

Website
Vertical
Category
QTR
Year
Summary
Behavioral Health
Deal
Q1
2020
Recognizing the growing importance of quality behavioral health programs for payers, The IMA Group (IMA) announced today the acquisition of PsyBar, one of the nation's leading specialty providers of behavioral health, independent medical exams (IME), and other employment related services. Financial terms of the acquisition were not disclosed. To ensure a seamless transition for existing clients, PsyBar will continue to operate under its current name, with all key leadership remaining in place. The acquisition of PsyBar significantly expands IMA's footprint as well as behavioral health and payer services capabilities with a national network of board-certified providers, including psychologists, psychiatrists, neuropsychologists and other behavioral health specialists.
Digital Health / Health Tech, Home Health & Hospice
Deal
Q1
2020
Home Care Pulse, a leading provider of data analytics and benchmarking solutions for home care agencies, announced Tuesday a company merger with In the Know, an online caregiver training platform with a 20-year history of serving companies across the senior care market. In recent years, Home Care Pulse has expanded its suite of data, analytics, and technology tools with a vision of providing detailed business insights to agencies and improved outcomes for both clients and caregivers. This merger will enhance Home Care Pulse's ability to execute that vision by empowering agencies with actionable solutions and critical data-driven insights.
Healthcare Supplies & Suppliers
Deal
Q1
2020
A California-based life science company has acquired a Fort Worth biotech startup operating out of the University of North Texas Health Science Center. Diagnostics products manufacturer Exact Diagnostics was bought by Bio-Rad Laboratories in August, Bio-Rad disclosed in its full-year financial report released earlier this February. Exact Diagnostics provides diagnostic and screening test medical equipment and serves molecular clinical labs and assay manufacturers. The company's products include adenovirus verification panel, CMV high run control, EBV verification panel and JCV Verification Panel.
Hospitals & Health Systems
Deal
Q1
2020
Three independent health care providers in northern Indiana have joined together to buy their own hospital. The South Bend Clinic, Allied Physicians of Michiana, and South Bend Orthopaedics have agreed to purchase a majority interest in Unity Medical and Surgical Hospital of Mishawaka. The purchase agreement was finalized Tuesday and has been approved by the boards of directors for all of the organizations. Financial terms of the acquisition are not being disclosed. Unity Medial and Surgical Hospital is a subsidiary of Toronto-based Medical Facilities Corp. The hospital, which opened in 2009, has four operating rooms and 29 inpatient rooms. Unity also operates three family medicine clinics in the Michiana area.
Neurology
Deal
Q1
2020
Wave Neuroscience, Inc., a global leader in developing personalized, noninvasive technology aimed at addressing neurological disorders and enhancing cognitive brain function through Transcranial Magnetic Stimulation (TMS), announced today that it has acquired the assets of NeoSync, Inc. NeoSync is a pioneer in personalized, low-energy brain stimulation for the treatment of Major Depressive Disorder and other diseases of the Central Nervous System (CNS). Among the assets acquired are 19 issued and four pending patents which will be added to Wave's existing portfolio, strengthening Wave's position in EEG and EEG/EKG guided TMS. In addition, Wave has acquired the Neuro-EEG Synchronization Therapy (NEST¨) system developed and tested by NeoSync.
Orthotics & Prosthetics
Deal
Q1
2020
Foot Solutions, Inc., a leading franchisor of custom orthotics and footwear retail locations, announced Tuesday the acquisition of the business by a group of private investors. John Prothro, an experienced executive and one of the anchor investors, has been appointed CEO and will be leading the company day-to-day. The previous owner and CEO, Ray Margiano, will become a special advisor to the company leadership. "John Prothro and his team will be an exciting and positive transition for the company at a perfect time," said Mr. Margiano. Mr. Prothro was equally optimistic: "Foot Solutions is a 20-year old global brand built on service and offering the best quality orthotics, expertly customized. Our franchisees are highly trained specialists in foot health and stability, and our system improves the quality of our customers' lives by solving pain and joint issues."
Pharmaceuticals & Biopharmaceuticals
Deal
Q1
2020
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) ("Takeda") announced that it has acquired PvP Biologics, Inc. following the conclusion of a Phase 1 proof-of-mechanism study of investigational medicine TAK-062 (Kuma062) for the treatment of uncontrolled celiac disease. TAK-062 is a potential best-in-class, highly potent super glutenase Ð a protein that degrades ingested gluten Ð that was computationally engineered to treat celiac disease, a serious autoimmune disease where the ingestion of gluten leads to inflammation and damage in the small intestine. Takeda exercised its option to acquire PvP Biologics for a pre-negotiated upfront payment as well as development and regulatory milestones totaling up to $330 million.
Life Sciences
Deal
Q1
2020
Fluidigm Corporation (Nasdaq: FLDM), an innovative biotechnology tools provider with a vision to improve life through comprehensive health insight, announced today that it has completed the acquisition of InstruNor AS, the privately held provider of the only fully integrated sample preparation system for flow and mass cytometry. InstruNor AS was founded by Torstein Ljungmann, ¯ystein Ljungmann and John-Erik Hassel. The company was privately held and based outside Oslo, Norway.
Real Estate Investment Trust
Deal
Q1
2020
A pair of real estate investors have partnered to buy a medical office property in Raleigh with plans for renovations. Atlanta-based SG Property Services in partnership with The Lundy Group bought a 2-story, 32,000-square-foot Class A medical office building in Raleigh late last year. The building is currently anchored by a surgical center and is adjacent to the UNC REX Hospital off Blue Ridge Road.
Industry Trends
Notable Developments
Q1
2020
Healthcare executives are keeping their eyes on Amazon. And given the tech giant's expanding reach in healthcare, that's not too surprising. But when KLAS Research asked more than 300 healthcare leaders to identify the most potentially disruptive company in healthcare, they found plenty of smaller, emerging companies getting a lot of buzz as well. The company names that were dropped could indicate the healthcare problems executives are most focused on solving right now.
Home Health & Hospice, Telehealth
Notable Developments
Q1
2020
Despite the benefits of telehealth services, the general lack of reimbursement under Medicare has created persistent roadblocks when it comes to widespread adoption among U.S. home health providers. Over the past several years, telehealth services have proven their value when it comes to improving access to care for patients and lowering overall health care costs. As a result, federal policymakers have tried to encourage greater adoption, but those efforts, thus far, haven't led to major changes. With the launch of the Patient-Driven Groupings Model (PDGM), some experts believe that telehealth may be the answer to navigating new therapy reimbursement policies. Under PDGM, therapy volume no longer automatically drives payment, meaning providers could look for creative alternatives to in-person visits.
Primary Care
Notable Developments
Q1
2020
The main drag of Calhoun, Ga., a town of about 16,000 an hour's drive north of Atlanta, is dotted with pawnshops, liquor stores, and fast-food joints. Here, as in thousands of other communities across America, the local Walmart fulfills most everyday needsÑgroceries, car repairs, money transfers, even hair styling. But now visitors to the Calhoun Walmart can also get a $30 medical checkup or a $25 teeth cleaning, or talk about their anxieties with a counselor for $1 a minute. Prices for those services and more are clearly listed on bright digital billboards in a cozy waiting room inside a new Walmart Health center. Walk-ins are welcome, but most appointments are booked online beforehand. No insurance? No problem. Need a lab test on a Sunday? Sure thing.
Assisted Living, Home Health & Hospice
Notable Developments
Q1
2020
Prairie Home Hospice & Community Care, a Marshall, Minnesota-based provider of hospice and home health services, announced last month that it was acquiring Fieldcrest Assisted Living in nearby Cottonwood. The community will begin operating under Prairie Home's license on March 1. This is the latest example of the increasing interest hospice providers are showing in senior living, particularly assisted living, where hospice is a growth industry. While hospice utilization among Medicare enrollees grew by 35% between 2011 and 2019, the demand in assisted living skyrocketed by over 100%, according to a Senior Housing News report released last October.
Kidney Dialysis Centers
Notable Developments
Q1
2020
Nephrology Associates, P.C. has announced its participation and investment in a new entity aimed at improving healthcare outcomes for Americans living with kidney disease. This new population health management company, InterWell Health, is an alliance currently consisting of over 650 nephrologists and the nation's leading provider of kidney care products and services, Fresenius Medical Care North America. InterWell Health participants are many of the most influential in their field, and more provider groups will be invited to join. This partnership was formed to support nephrologists nationwide towards a more rapid adoption of value-based care models in an environment that promotes the full continuum of care for renal patients. The focus spans the CKD and ESRD populations with collaboration on care models to slow progression, to maximize the availability of transplant and home therapies, as well as prioritize optimal starts on dialysis.
Radiology
Notable Developments
Q1
2020
Diagnostic Imaging Northwest (DINW) has aligned with Strategic Radiology's coalition of independent private radiology practices, bringing the current number of members to 27 and bolstering the organization's presence in the Northwest. The group includes 12 subspecialty-trained radiologists. "We are pleased to be welcoming Diagnostic Imaging Northwest into the Strategic Radiology coalition of independent practices," said Arl Van Moore Jr, MD, FACR, CEO and chair, Strategic Radiology. "The practice brings a combination of excellent, quality-minded radiologists, a demonstrated willingness to collaborate, and a commitment to Strategic Radiology's core values." DINW was founded nearly 100 years ago and during the past century has built a strong relationship with Legacy Health's Good Samaritan Hospital, a leading subspecialty hospital In Portland with an oncology center operated in partnership with Oregon Health & Science University. It also provides subspecialty coverage for Skyline Hospital, in White Salmon, Washington.
Digital Health / Health Tech
Notable Developments
Q1
2020
Johnson & Johnson (JNJ.N) said on Tuesday it would partner with Apple Inc (AAPL.O) on a study to use an iPhone app and the Apple Watch to study how earlier detection of atrial fibrillation impacts stroke in people aged 65 or older. Last year, Apple's Heart Study here found that the watch could accurately detect atrial fibrillation, the most common type of irregular heartbeat, according to a study that explored the role of wearable devices in identifying potential heart problems. Atrial fibrillation increases the risk of stroke more than fivefold, according to the American Heart Association. The joint effort, called "Heartline," is significant because J&J is one of the world's largest medical device makers and pharmaceutical companies.
Hospitals & Health Systems
Notable Developments
Q1
2020
Wellstar Health System is looking for a partner to help transform Atlanta Medical Center. AMC has two campuses, with the biggest one a safety-net facility in central Atlanta, not far from Grady Memorial Hospital. The south campus is in East Point, just southwest of Atlanta. The nonprofit Wellstar took over the AMC facilities in its 2016 acquisition of five Tenet Healthcare hospitals in the area. The Marietta-based health system said it will explore a variety of strategic options for Atlanta Medical Center, which experts say could include a joint venture or even a sale.
Pharmaceuticals & Biopharmaceuticals
Notable Developments
Q1
2020
Drugmaker Mallinckrodt PLC said on Tuesday that it reached a settlement worth more than $1.6 billion with 47 states and U.S. territories and lawyers representing thousands of local governments to settle liabilities stemming from the opioid addiction crisis. Under the settlement proposal, state and local governments would receive $1.6 billion of payments, phased out over eight years, and warrants for a minority stake in the company. Mallinckrodt's generics subsidiaries would file for chapter 11 to implement the proposed deal, though the Ireland-based parent will stay out of bankruptcy. If approved in bankruptcy court, the settlement would bring closure to Mallinckrodt's share of thousands of lawsuits filed against the company by cities, counties and Native American tribes surrounding the public costs of opioid abuse.
Ophthalmology
Deal
Q1
2020
New Harbor Capital completed a recapitalization of Quigley Eye Specialists, a leading medical and surgical practice specializing in the diagnosis and treatment of vision disorders. Quigley Eye Specialists provides a full range of ophthalmology and optometry services across Southwest Florida. Founded in 1988 by Dr. Thomas Quigley, the multispecialty practice has grown into a market leader with a reputation for providing high quality, innovative and customized eye care with a strong patient-centric culture. "We are excited to partner with Dr. Quigley and Quigley Eye Specialists," remarked Jocelyn Stanley, Partner at New Harbor Capital. "The Company has built an impressive platform for providing excellence in clinical care and is well positioned to deliver this unique model of vision care at an even larger scale."
Ophthalmology
Deal
Q1
2020
Vision Innovation Partners is pleased to announce its recent acquisition of Busack Eye Center, a leading ophthalmology practice based in Frederick, Maryland. The acquisition enhances Vision Innovation Partners' strong presence in Western Maryland and further expands its growing network of ophthalmology practices in the Mid-Atlantic region. Vision Innovation Partners' acquisition of Busack Eye Center Ð its fourteenth in just over two years Ð demonstrates its continued commitment to recruiting top-performing doctors and expanding patient access to care across its growing network of practice locations and surgery centers in the Mid-Atlantic. Vision Innovation Partners is backed by Centre Partners, a leading middle-market private equity firm focused on the healthcare and consumer sectors.
Pharmacy
Deal
Q1
2020
AIS Healthcare has announced the acquisition of Hunt Valley PharmaLAB ("Hunt Valley"), a 503A compounding pharmacy focused on ophthalmology medications. Already the leading targeted drug delivery (TDD) and infusion care provider, AIS Healthcare will now be able to provide high-quality, custom ophthalmology prescriptions to patients across the country. Hunt Valley provides patient-specific medications for patients undergoing eye surgery or suffering from chronic and complex conditions, such as dry eye. Based in Hunt Valley, MD, the pharmacy currently serves more than 6,700 patients in 15 states. Using Hunt Valley's existing pharmacy and the new state-of-the-art facility in Dallas, Texas, AIS Healthcare will produce ophthalmic medications for an expanded number of patients.
Cardiovascular
Deal
Q1
2020
Banner Health announced Monday the acquisition of Desert Vascular Specialists, a physician practice located in Chandler, Arizona. As a result of the acquisition, two vascular surgeons and one physician assistant will join Banner Health's medical group. Paul Vaughn, MD, FACS and Daniel Miller, DO, RPVI Ð board-certified vascular and endovascular surgeons Ð and physician assistant Jennifer Maldonado will start seeing patients at Banner on March 2. "We're excited to have Drs. Vaughn and Miller and their office staff join our team," said Pat Rankin, MD, chief executive officer of Banner Medical Group. "They have been part of Banner's physician network for many years and are highly regarded amongst their peers."
Medical & Research Laboratories
Deal
Q1
2020
Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has signed a definitive agreement to invest in Solvias AG. Headquartered in the biotech hub of Basel, Switzerland, Solvias is one of the largest independent pharmaceutical laboratory platforms in Europe. Water Street, which has years of experience in the pharmaceutical services sector, will partner with the company's management team to build Solvias into a premier global pharmaceutical laboratory services business.
Skilled Nursing Facilities
Deal
Q1
2020
Tryko Partners, a Brick-based private equity investment firm, announced on Monday it has acquired three skilled nursing facilities in Virginia. The facilities, which were all part of the Cambridge Healthcare portfolio, include: Woodbine Rehabilitation & Healthcare; Lexington Rehabilitation & Healthcare; and Westmoreland Rehabilitation & Healthcare. Each facility has post-hospital care, short-term rehabilitation and long-term residential care. "This purchase marks our foray into Virginia, and the combined, 563 bed count has enabled us to immediately establish a significant footprint in this desirable market," Uri Kahanow, director of acquisitions, Tryko, said. "For us, this region is a natural progression, given that we have a well-established skilled nursing presence in Maryland and other key Mid-Atlantic markets to the north."
Life Sciences
Deal
Q1
2020
Warburg Pincus has agreed to acquire biotech business Polyplus-Transfection from European PE firm ArchiMed in a transaction that values the company at over $500 million, according to Bloomberg. Founded in 2001 and based in France, Polyplus develops and sells products that deliver nucleic acids for use in research, bioproduction and therapeutics.
Healthcare Information Technology
Deal
Q1
2020
Hyland, a leading content services provider, has completed the acquisition of Streamline Health's enterprise content management (ECM) business. The acquisition bolsters Hyland's efforts to become the world's leading content services provider and furthers Hyland Healthcare's mission of helping healthcare organizations improve the lives of patients and enhance the experiences of healthcare consumers. Hyland Healthcare's suite of solutions enables healthcare organizations to harness all unstructured content throughout the enterprise and connect it to core applications. With enterprise access to clinical documents, medical images and other forms of unstructured information, providers gain a comprehensive view of the patient to streamline clinical workflows, improve decision making and support better outcomes.
Healthcare Supplies & Suppliers
Deal
Q1
2020
MXR Imaging, Inc. (formerly Merry X-Ray Corporation) announced it has completed the acquisition of the Oxford Instruments Healthcare from Oxford Instruments PLC (LSEG: OXIG). Oxford Instruments Healthcare is a leading provider of CT & MRI equipment sales, maintenance services, parts, and mobile imaging solutions. It is headquartered in Deerfield Beach, FL and has additional operations in Vacaville, CA and Ann Arbor, MI. MXR Imaging executives said this acquisition would expand their reach as the leading provider of diagnostic imaging solutions to hospitals and health care providers across North America.
Pharmaceuticals & Biopharmaceuticals
Deal
Q1
2020
Certara¨, the global model-informed drug development and decision support leader, today reported that it has acquired a range of modeling and simulation technology assets from In Silico Biosciences, Inc. The assets include a platform of multiple integrated quantitative systems pharmacology (QSP) modules of brain physiology and pathology specifically developed for the study of neurodegenerative conditions, including Alzheimer's, Parkinson's and Huntington's disease, which generally lack disease-modifying therapies. Certara's Simcyp division is the undisputed leader in mechanistic modeling for QSP. The company's QSP business model is based on its highly successful Simcyp Physiologically-based Pharmacokinetic (PBPK) Consortium, which is comprised of 37 leading biopharm companies and recently celebrated its 20-year anniversary and its enormous positive impact on drug development.
Medical Devices
Deal
Q1
2020
ARCH has acquired MMi Sonora ("MMi"), located in Sonora, Calif. MMi manufactures high-precision components and assemblies primarily for the medical market, with expertise in precision manufacturing for the rapidly expanding robotically assisted surgical market. MMi will join the ARCH Medical Solutions Segment and will bolster ARCH's leading position as an important and growing supplier to the medical market. MMi has an impressive breadth of core competencies, including high-precision complex machining, prototyping to production, testing, assembly, and finishing. These advanced competencies are highly complementary to the existing high-precision machining capabilities at ARCH Medical Solutions locations across the country.
Healthcare Investors / Advisors
Notable Developments
Q1
2020
By all accounts, 2019 was a year of continued robust healthcare M&A activity by private equity firms, significantly outpacing 2018. Private equity firms continued to deploy significant capital broadly across the healthcare industry during 2019 as demands to solve for industry inefficiencies, value-based payment models, and overall cost reduction all point toward private equity investment as an attractive option for healthcare businesses with aggressive growth strategies. In addition to the sustaining performance of the U.S. economy as a whole in 2019, the changing reimbursement and regulatory landscape of the healthcare industry contributed to deal volume overall and in particular sectors.
Urgent Care
Notable Developments
Q1
2020
According to the annual Benchmarking Report from the Urgent Care Association (UCA), the total number of urgent care centers in the U.S. reached 9,616 as of November 2019, representing growth of 9.6% from the prior year. The report also indicates that almost 97% of urgent care patient encounters lasted one hour or less, demonstrating the quick and convenient service that meets the on-demand access to care important to patients today.
Health Plans
Notable Developments
Q1
2020
Essence Healthcare, sister company of Lumeris, has reached an agreement in principle to acquire Mutual of Omaha Medicare Advantage Company (MOMAC) and Medicare Advantage Company of Omaha (MAICO). The Mutual of Omaha subsidiaries own Medicare Advantage businesses in the Cincinnati, San Antonio, Dallas, Denver and El Paso markets. MOMAC and MAICO's Medicare Advantage plans are currently operated by Lumeris, and Lumeris will continue to operate the plans after the transaction is completed, avoiding any disruption for plan members or providers. "We have enjoyed our close working relationship with Mutual of Omaha," said Richard Jones, CEO of Essence Healthcare. "The acquisition of these plans will significantly accelerate our footprint in Medicare Advantage, and materially change our expansion plans. Accordingly, we will need to reorganize and restructure our business to accommodate this opportunity."
Hospitals & Health Systems
Notable Developments
Q1
2020
A Northern Panhandle hospital has dropped out of a deal to buy Sistersville General Hospital. Wheeling Hospital Inc. this week said it would not proceed with the transaction. The decision was "based on (Wheeling Hospital's) assessment of the overall health care market in the immediate region, as well as the limits such a purchase would likely create as we undertake our own efforts to expand clinical programs and services at Wheeling Hospital," according to an internal memorandum from Doug Harrison, chief executive officer of Wheeling Hospital. The Sistersville Hospital Board of Managers, Sistersville City Council and the Sistersville Building Commission last month approved the sale under the terms of an Asset Purchase Agreement with Wheeling Hospital.
Industry Trends
Regulatory
Q1
2020
States are taking on a more active role to spur healthcare competition and control costs, according to a Catalyst for Payment Reform (CPR) and University of California, Hastings (UC Hastings) Law study released Tuesday morning. The study stated that employers and payers can affect change as healthcare providers continue to consolidate but argued that states can implement policies that boost competition as well. Twenty states have established mandatory all-payer claims databases, the study found, while another 20 states have banned "most favored nation" contracting clauses. Researchers stated that these provisions can "prevent other health plans from entering local markets" and stifle competition as a result. The study also found that the most common approach by states to maintaining competition was to use existing antitrust statutes to block provider M&A activity.
Gastroenterology
Deal
Q1
2020
Miami-based Gastro Health made a trio of acquisitions, including the group's second acquisition in Virginia, to kick off 2020. Gastro Health acquired Gastroenterology Associates of Osceola in Kissimmee, Fla., in February. The practice also entered into a merger agreement with Boca Raton, Fla.-based Digestive Care, which is expected to close in March 2020. Gastro Health additionally expanded its presence in Virginia, reaching a merger agreement with Woodbridge-based Associates in Gastroenterology, an 11-physician group with five locations.
Home Health & Hospice
Deal
Q1
2020
Dallas-based Three Oaks Hospice has acquired Peace Hospice & Palliative Care in Naperville, Ill., for an undisclosed amount. Relatively new to the hospice arena, Three Oaks opened its doors in May 2019 and jumped quickly into the mergers and acquisitions market with the September purchase of three hospices in the company's home state of Texas. Three Oaks Hospice during 2019 received more than $21 million in private equity from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners. Peace Hospice & Palliative Care cares for patients and families throughout the Chicago metropolitan area, providing skilled nursing care, personal care, counseling and physical/occupational therapy to patients suffering from life-limiting illnesses. The transaction makes Three Oaks' entry into the Illinois market.
Primary Care
Deal
Q1
2020
Private medical practices continue to shift into larger practice groups in the Buffalo area. The latest transactions further expand both WNY Medical PC; and Trinity Medical WNY, the physician practice network affiliated with Catholic Health. Trinity has grown its women's services with three new practices in Buffalo, West Seneca and East Aurora in recent months that add seven physicians to its list of providers. Also growing is WNY Medical PC, which acquired the Grant Street medical practice of Dr. Glennell Smith and took over a patient panel of more than 8,000 patients.
Cardiovascular
Deal
Q1
2020
Catholic Health is pleased to announce that Bruce Platt, MD, and his medical practice Advanced Cardiology Group have joined Trinity Medical Cardiology, part of Catholic Health's growing multi-specialty physician practice network. As part of this transition, Advanced Cardiology Group's office, located at 1616 Kensington Avenue in Cheektowaga has become a Trinity Medical Cardiology location. With this latest addition, Trinity Medical WNY has seven cardiology practices in Erie and Niagara counties.
Digital Health / Health Tech
Deal
Q1
2020
Sharecare, the digital health company that helps people manage all their health in one place, today announced its acquisition of Visualize Health, a company that supports value-based healthcare and enables payers and providers to close gaps in patient care. By integrating streamlined, insights-based actions into the clinician's workflow to eliminate care gaps in individual patient journeys, Visualize Health's cloud-based technology complements Sharecare's comprehensive health and well-being platform, and ideally positions the digital health company to help payer and provider partners succeed in value-based environments.
Medical Devices
Deal
Q1
2020
The InterMed Group, a Granite Bridge Partners company, today announced the acquisition of Sigma Imaging Technologies, a New Jersey-based provider of imaging system services. Established as an expert in MRI/CT/PET imaging technology, Sigma's core services include preventive and corrective maintenance, MRI magnet services, and part repair. Sigma is also a highly reputable provider of MRI/CT/PET systems across North America, including mobile units, and offers equipment evaluation, refurbishment, installation, removal, relocation and storage.
Surgical Centers / Facilities and Practices
Deal
Q1
2020
National healthcare real estate developer NexCore Group has acquired a Phoenix-area ambulatory surgery center (ASC) property in partnership with the Chicago-based investment management firm Harrison Street. Built in 2000, the one-story, 11,308-square-foot medical office building (MOB) occupies a 1.17-acre lot at 2626 E. University Drive in the southeast Phoenix suburb of Mesa. The off-campus ASC will be occupied and operated in a joint venture between Banner Health and Atlas Healthcare Partners, a Phoenix-based developer and manager of outpatient surgery centers.
Healthcare Supplies & Suppliers
Deal
Q1
2020
Transcat, Inc. (Nasdaq:TRNS) ("Transcat" or the "Company"), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced it has acquired substantially all of the assets of TTE Laboratories, Inc. ("TTE") including the URL, www.pipettes.com, effective February 21, 2020. Founded in 1989 and based in Boston, MA, TTE provides a broad range of pipette services, from ISO 17025 and 8655 compliant calibration to repair, refurbishment or replacement, calibration management and user training, as well as selling a broad line of pipette equipment and supplies. They predominantly serve the life sciences market, including biotech and pharmaceutical, as well as R&D labs and universities.
Primary Care
Notable Developments
Q1
2020
Some of the largest health insurers are capitalizing on recent massive deals by steering patients toward clinics they now own, controlling both delivery and payment for health care. The trend creates worries for rival doctor groups and hospital companies that have invested deeply in buying up physician practices, which now increasingly compete against offerings from insurers. UnitedHealth Group Inc.'s insurance unit is offering a plan in the Los Angeles area built around doctors who work for its Optum arm, which has acquired a sprawling network of doctor practices, surgery centers and urgent-care clinics. The company says it is working to offer similar designs in other markets, though they might also involve non-Optum doctors.
Home Health & Hospice
Notable Developments
Q1
2020
Government efforts to improve quality, fight fraud, and stop profiteering in the hospice industry are partly responsible for a record wave of mergers and acquisitions that hedge against a new Medicare payment system. From a handful of small nonprofit organizations in the 1970s, hospice end-of-life care has grown into a thriving $19 billion a year industry led mainly by for-profit, investor-owned companies. Medicare is the nation's largest payer for hospice care, covering more than 90% of patient stays in 2018 on behalf of more than 1.5 million beneficiaries. Use of the Medicare hospice benefit will grow as millions of aging baby boomers require end-of-life care in the coming years.
Physical Therapy & Outpatient Rehabilitation
Notable Developments
Q1
2020
Eight years into its investment, Silver Oak Services Partners is evaluating the sale of Physical Rehabilitation Network, four sources familiar with the process told PE Hub. With few available assets of scale in the PT market right now, the process is expected to command significant interest from the PE community, sources said. Based on precedent activity in the physical therapy sector, PRN is likely to trade at an EBITDA multiple of up to 13x, two sources said. That suggests a deal could be valued as high as $260 million.
Orthopedics
Notable Developments
Q1
2020
In the past five months, several orthopedic practice mergers have created groups with dozens of physicians. Here are five to know, according to Becker's Spine Review.
Radiology
Notable Developments
Q1
2020
Physician services provider Mednax shared Thursday that it's "very excited about radiology," having earned half a billion dollars in revenue from the specialty in 2019. That represents a 9% uptick from the prior year, with 50% of growth occurring organically, officials said during their fourth quarter earnings call. Following the company's acquisition of Boca Radiology GroupÑits 10th affiliated imaging practiceÑin January, Mednax now employs 800 radiologists interpreting 12 million studies annually, CEO Roger Medel, MD, told investors. Altogether, Mednax spent upward of $120 million on merger and acquisition activity in 2019, with about half of that going toward radiology. Officials anticipate 2020 to be a year of "stabilizing their financial results," setting the stage for expansion in 2021, in pediatrics and other specialties.
Hospitals & Health Systems
Notable Developments
Q1
2020
There is a broad trend among health systems of seeking out joint ventures and partnerships that carry many of the same benefits as M&A but require less capital and carry less risk. That trend was apparent in the results of Modern Healthcare's 2020 CEO Power Panel survey, in which 69.2% of the 26 respondents said joint partnerships were a component of their growth plans for this year, up from just half of respondents in the 2019 survey. It's also the second year that CEOs said M&A activity is less of a strategy at their systems. "Partnerships will be increasingly important," said Marna Borgstrom, CEO of Yale New Haven Health. "Money doesn't exchange hands for acquisitions as much as you're going to try to align care along a continuum that supports better outcomes and patient care."
Notable Developments
Q1
2020
From reimbursement landscape challenges to dwindling patient volumes, many factors lead hospitals and other healthcare organizations to file for bankruptcy. Here are six hospitals and healthcare companies that have filed for bankruptcy since Jan. 1, beginning with the most recent, according to a list compiled by Becker's Hospital CFO Report.
Healthcare Information Technology
Notable Developments
Q1
2020
HHS on Friday acknowledged that electronic health records pose a significant burden on clinicians and suggested tactics the federal government can pursue to ease the pain. The strategy, published by the CMS and the Office of the National Coordinator for Health Information Technology, was mandated by the 21st Century Cures Act. The strategy identified four main areas that contribute to administrative burden: clinical documentation; health information technology usability; public health reporting requirements, and federal health IT and EHR reporting requirements. But there are ways the federal government can address those challenges. One strategy is HHS increasing adoption of electronic prescribing of controlled substances with consideration for provider preferences and workflow to alleviate public health reporting challenges.