Surgical Care Sews Up Two Partnerships

Surgical Care Sews Up Two Partnerships

Surgical Care Affiliates, Inc. (NASDAQ: SCAI) announced two transactions in the month of February that expanded its Chicago-area footprint to six locations. First was the Center for Minimally Invasive Surgery in Mokena, Illinois. The center’s 17 phsyicians provide a full suite of outpatient surgical services, including general surgery, gynecology, ophthamology, orthopedics, pain management and podiatry. Although the deal was announced on February 2, it was effective on January 1, 2016. Next, on President Lincoln’s birthday (that’s February 12, to the uninformed), SCA partnered with Winchester Endoscopy Center in Libertyville, Illinois. The center’s six physicians... Read More »

WellCare Begins Its Planned Buying Spree

WellCare Health Plans CEO Ken Burdick plans to double the company’s revenue between 2017 and 2021, beginning with mergers and acquisitions. On February 22, WellCare (NYSE: WCG) made a start on those plans, announcing its acquisition of certain assets of Advicare Corporation, a managed care organization that provides Medicaid benefits in South Carolina. As of February 1, 2016, it served approximately 32,500 Medicaid members in the state. Financial terms were not disclosed. WellCare Health Plans provides managed care services for Medicare and Medicaid. As of December 31, 2015, it serves approximately 3.8 million members nationwide. The February 19 announcement by the Centers for... Read More »

Software for Sleep Disorders Attracts $800 Million

Sleep-disordered breathing is big money. Anyone who has laid awake night after night beside a chronic snorer would pay just about anything for a bit of quiet, most likely. Enter ResMed Inc. (NYSE: RMD), which has built its business on medical devices to treat sleep-disordered breathing and respiratory care. The company has made several acquisitions over the years, predominently in the medical device sector (see chart below). Targets have ranged from the German firm MAP Medezin-Technologie, acquired in 2001, to the Chinese sleep-device maker Curative Medical, a more recent acquisition in 2015. Two recent transactions have focused on the digital side of healthcare delivery. ResMed paid an... Read More »

Kindred and Select Medical Swap LTACs

It’s getting so you can’t tell the players without a program. On February 18, Kindred Healthcare Inc. (NYSE: KND) and Select Medical Holdings Corporation (NYSE: SEM) announced they were trading nine long-term acute care (LTAC) hospitals in various markets. Kindred got the larger part of the trade, acquiring the operations of five of Select Medical’s LTACs for a total of 233 beds. They are located in Indianapolis, Indiana; San Antonio, Texas; Houston, Texas; Denver, Colorado; and Colorado Springs, Colorado. The hospital in Houston occupies the sixth and seventh floors of the Houston Medical Center. Select Medical took on four of Kindred’s LTACs with a combined total... Read More »