FastMed Plus NextCare Equals Urgent Care Giant

FastMed Plus NextCare Equals Urgent Care Giant

by | Dec 17, 2018 12:20 pm | Private Equity, Urgent Care Centers | 0 comments

Consolidation continues in the urgent care services sector, as consumers and healthcare provider organizations look for lower-cost services outside hospital walls. One of the largest deals in this area in 2018 is FastMed Urgent Care’s acquisition of NextCare Holdings Inc., a portfolio company of Alcentra Capital Corp. since 2016. FastMed, the business name for Urgent Care Holdings of America, LLC, is backed by Abry Partners and BlueMountain Capital Management. The company owns and operates 110 clinics in Arizona, North Carolina and Texas. NextCare operates 141  facilities in Arizona, Colorado, Kansas, Missouri, New Mexico, North Carolina, Oklahoma, Texas, Virginia and Wyoming. The... Read More »

Long-Term Care Deal Value Surges in Q2:17

by | Jul 14, 2017 7:21 pm | Long-Term Care | 0 comments

The dollar volume of publicly announced seniors housing and care acquisitions in the second quarter of 2017 surged to $9.7 billion, a nearly 600% increase over the first quarter’s volume of $1.4 billion. The number of announced transactions in the second quarter (75) was basically even with the first quarter (76), according to new acquisition data from HealthCareMandA.com. The dollar volume is the highest since the second quarter of 2014. Driving the dollar volume were two billion-dollar acquisitions, including the acquisition of Care Capital Properties by Sabra Health Care REIT in a transaction valued close to $4.0 billion, as well as the acquisition of Hawthorn Retirement Group by... Read More »

Kindred Exits Skilled Nursing Business

by | Jul 7, 2017 4:42 pm | Hospitals, Long-Term Care, Private Equity | 0 comments

Kindred Healthcare (NYSE: KND) has made no secret that it is getting out of the skilled nursing business. It took until June 30 for the deal announcement to come, and when it did, it was a bit of a surprise that a single buyer was taking over the entire business. Private equity firm BlueMountain Capital Management, LLC, through a joint venture it is leading called BM Eagle Holdings, agreed to acquire Kindred’s 89 skilled nursing facilities. BlueMountain, you may recall, acquired the financially failing Daughters of Charity hospital system in California in July 2015, following the collapse of Prime Healthcare Services’ $849 million bid in March 2015. A week after this deal with Kindred... Read More »

Have the Daughters of Charity Made a Deal?

by | Dec 9, 2015 8:00 pm | Hospitals, Private Equity | 0 comments

Don’t hold your breath, but the Daughters of Charity Health System (DCHS) in Los Altos, California may have found a buyer. Sure, the Board chose BlueMountain Capital Management LLC last July, in favor of its well-publicized $250 million offer to keep the struggling system afloat. And we do mean struggling. Through June 30, 2014, DCHS’s five acute-care hospitals made nearly $1.2 billion in total operating income, but a combined loss of $64.0 million in EBITDA. Don’t forget that for-profit hospital company Prime Healthcare Services walked away from its $849 million offer for Daughters back in March, accusing the state’s Attorney General, Kamala Harris, of imposing... Read More »