Orthopaedic M&A Activity Drops in 2024
The orthopaedic sector experienced a decrease in M&A deal volume in 2024, according to data captured in the LevinPro HC database. Since January 1, 2024, investors and dealmakers have announced 18 transactions for orthopaedic practices and physician groups. This is a notable decrease from the full-year results in 2023 and 2022, when 37 and 38 orthopaedic deals were announced, respectively. It also decreased from 2021, when 31 acquisitions were reported. However, the deal volume of 2024 is greater than that of 2020 (12 deals) and 2019 (nine deals) so, the space, while experiencing a decrease, is still more active than it was several years ago. The 18 orthopaedic acquisitions... Read More »
Behind the Deal: PGP Advises Contour Dermatology On Acquisition
Physician Growth Partners (PGP) recently announced that it acted as the exclusive financial advisor to Contour Dermatology & Cosmetic Surgery Center (Contour Dermatology) as it was acquired by DermCare Management (DermCare). We spoke with Michael Kroin, CEO and Managing Partner of PGP, who provided his insights into the acquisition. PGP is a sell-side healthcare investment banking firm dedicated to representing independent physician practices in transactions with private equity. Established by Dr. Timothy Jochen in the early 2000s, Contour Dermatology is a leading provider of dermatology services throughout the Coachella Valley. With four clinics in Rancho Mirage, La Quinta, Palm... Read More »
H.I.G. Growth Completes Significant Growth Investment in Carebox
Boston, Massachusetts-based H.I.G. Growth Partners announced on November 18 that it has completed a significant growth equity investment in Sanford, North Carolina-based Carebox. Carebox is a software platform that connects patients, families and physicians with potentially life-saving treatment options that are only available in clinical trials. Carebox partners with more than 40 leading life sciences firms, research organizations and foundations working on clinical trials. The company has developed CareboxConnect, a clinical trial matching platform that continuously indexes patients’ clinical trial participation eligibility and immediately matches them with relevant studies... Read More »
Celltrion Builds Out Foothold in Europe With iQone Healthcare Switzerland Acquisition
Celltrion announced its acquisition of iQone Healthcare Switzerland, strengthening its presence in Europe, driving growth and expanding access to its biosimilar treatments. iQone Healthcare Switzerland is an independent Swiss-based specialty pharmaceutical company dedicated to the commercialization of biosimilars and innovative treatments for rare diseases. Through its long-standing collaborations with several global pharmaceutical developers and manufacturers, iQone Healthcare provides a continually expanding selection of leading biosimilars and products to healthcare professionals and institutions in Switzerland. Celltrion is a leading biopharmaceutical company, specializing in the... Read More »
Helping Hands Family Acquires Mission Autism Clinics
On November 11, Zenyth Partners’ portfolio company, Helping Hands Family, announced that it entered into an agreement to acquire Mission Autism Clinics for an undisclosed price. Founded in 2019, Mission Autism Clinics operates 13 applied behavior analysis (ABA) therapy clinics across Pennsylvania and Maryland. The provider offers in-center ABA therapy for children ages 2 to 6 and home, school and community-based care for children, teens and young adults. Helping Hands Family is a provider of clinic-, home- and school-based ABA and related services to children impacted by autism spectrum disorder. The company serves more than 25 markets with more than 500 clinicians based... Read More »
Warburg Pincus Recapitalized MB2 Dental Solutions
On November 13, Warburg Pincus, a private equity firm based in New York City, announced that it recapitalized MB2 Dental Solutions, a dental service organization (DSO) that is based in Carrollton, Texas. Warburg invested $525 million into MB2 Dental. The transaction offered liquidity options to MB2’s doctor at a total enterprise value in excess of $3.5 billion. The seller was Charlesbank Capital Partners, a private equity firm located in Boston, Massachusetts. The company will continue its longstanding partnership with MB2 Dental has partnered with more than 700 general and specialty dental practices across 43 states and has approximately 1,000 physicians under its... Read More »
Justice Department Moves to Block UnitedHealth’s $3.3 Billion Acquisition of Amedisys
The U.S. Department of Justice (DOJ) is seeking to block UnitedHealth Group’s $3.3 billion acquisition of home health provider Amedisys, which was set to be folded into UnitedHealth’s Optum subsidiary. The deal has sparked antitrust concerns, with the DOJ arguing that the merger would significantly reduce competition in the home health and hospice services market and potentially lead to higher prices for patients. UnitedHealth, which planned to integrate Amedisys into its Optum subsidiary, has faced scrutiny from regulators since announcing the deal in June 2023. The DOJ’s main concern revolves around the potential for monopolistic control in local home health markets where both companies... Read More »
Cardinal Health Inks Two Deals Worth $3.9 Billion
Cardinal Health announced plans to buy two companies in an aim to expand its diabetes and gastroenterology businesses as part of an overall strategy to grow its footprint in specialty medicine. The Dublin, Ohio-based company announced on November 12 that it entered into definitive agreements to acquire a majority stake in GI Alliance for $2.8 billion. Cardinal Health is acquiring 71% ownership in GI Alliance from a combination of GI Alliance physician owners and funds managed by affiliates of Apollo Global Management. On the same day, Cardinal Health announced that it plans to buy Carlsbad, California-based Advanced Diabetes Supply Group (ADSG) for approximately $1.1 billion in cash.... Read More »
Onicx Group Purchases Second MOB of 2024
Tampa-based Onicx Group has announced the acquisition of a medical outpatient building (MOB) in Trinity, Florida. The property is a two-story, 31,000-square-foot Class A MOB located in a high-growth suburb within the Tampa Bay region. Constructed in 2008, the MOB is situated on a BayCare Health System outpatient campus and boasts a strong tenant mix, including Orthopaedic Associates of West Florida, a subsidiary of the Florida Orthopaedic Institute. The MOB features an occupancy rate exceeding 91%. Onicx Group is a prominent developer and a trusted real estate partner for health systems and physician practices, with a longstanding focus on healthcare real estate. This acquisition marks the... Read More »Schedule a demo
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