WELL Health Technologies Corp. (TSX: WELL) (“WELL” or the “Company”), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce its wholly owned subsidiary, CRH Medical Corporation (“CRH”), has completed an accretive transaction whereby the company has acquired an 85% stake in New England Anesthesia Associates LLC (“NEAA”) effective May 1, 2021. NEAA provides anesthesia services to an ambulatory surgical center in Guilford, Connecticut along with other staffing services that serve the surrounding region. It represents CRH’s 34th acquisition to date.
Ontario Teachers’ Pension Plan is seeking a buyer for PhyMed Healthcare Group, the provider of anesthesia services it bought more than six years ago, according to people familiar with the matter.
Provation, the premier software and SaaS provider of procedure documentation and clinical decision support solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced its acquisition of iProcedures, LLC, a top-rated provider of cloud-based anesthesia documentation and perioperative data management software solutions. By acquiring iProcedures, Provation is doubling down on its commitment to becoming the premier vendor for anesthesia providers, following its 2020 procurement of ePreop, a leading provider of anesthesia quality reporting and surgical care coordination solutions.
VSS Capital Partners (“VSS”), a private investment firm investing in the healthcare, business services, education and information industries, today announced that it has completed a growth capital investment in Ambulatory Management Solutions (“AMS” or “the Company”), a turnkey provider of outpatient anesthesia, surgical and administrative services that enable physicians to provide safe in-office and ambulatory surgery center-based procedures. Headquartered in Chicago, AMS provides custom office and surgery center management support services along with anesthesia care through its affiliated managed physician practice.
WELL Health Technologies Corp. (TSX: WELL) (“WELL”), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, and CRH Medical Corporation (“CRH”) are pleased to announce the successful completion of their previously-announced business combination Thursday, pursuant to which WELL has acquired all of the issued and outstanding common shares of CRH (the “CRH Shares”) for US$4.00 per share in cash (the “Acquisition”), representing an equity consideration of approximately US$286.6 million and a transaction value of approximately US$372.9 million, inclusive of CRH’s credit facility.
CRH Medical Corporation (TSX: CRH) (NYSE: CRHM) (“CRH” or the “Company”) announced Friday that its securityholders approved the acquisition of CRH by a subsidiary of WELL Health Technologies Corp. (“WELL Health”) at the special meeting of CRH securityholders Friday. CRH is a full-service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers. CRH has completed 33 anesthesia acquisitions, and now serves 72 ambulatory surgical centers in 15 states.
CRH Medical Corporation (“CRH”, or the “Company”) (TSX: CRH) (NYSE MKT: CRHM) announces that it has completed an accretive transaction whereby the Company has acquired the remaining 25% interest in Lake Lanier Anesthesia Associates (“LLAA”) a gastroenterology anesthesia practice located in Georgia. CRH initially acquired 75% of LLAA in June of 2020.
CRH Medical Corporation (“CRH”, or the “Company”) (TSX: CRH) (NYSE MKT: CRHM) announces that it completed an accretive transaction whereby the Company has acquired a 51% interest in Middle Arkansas Sedation Associates, LLC (“MASA”), a gastroenterology anesthesia practice located in Little Rock, Arkansas. MASA represents the Company’s 33rd acquisition, and provides anesthesia services to a single ambulatory surgery center.
Anesthesia practice managers will be scratching their heads for a long time as they attempt to strategize a profitable and successful path for the future. Dissecting the issues and trends will require lots of data, careful analysis and an open mind. The specialty is haunted by its sacred cows: those beliefs providers have taken for granted for years. Now is the time to rethink previous assumptions and explore new options. As is often said by strategic planners, very often the beliefs and strategies that got us to where we are today, will not get us to where we need to be tomorrow. Covid-19 may well prove to be the ultimate wake-up call for the specialty as a whole.
CRH Medical Corporation (“CRH”, or the “Company”) (TSX: CRH) (NYSE MKT: CRHM) today announces a startup joint venture (“JV”) where CRH owns a 51% interest in a gastroenterology anesthesia practice located in Largo, Florida. The JV services a single ambulatory surgery center (“ASC”). CRH and its partners will contribute this entity into its existing JV with FDHS Anesthesia, LLC. Today’s announcement marks the second transaction announced in 2021. On Feb 9th, 2021, the company announced that it had closed the acquisition of Edison, NJ based gastroenterology anesthesia practice, Oak Tree Anesthesia Associates or “Oak Tree”, its 32nd acquisition and first of 2021.
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