Gauge Capital Acquires Lucent Health 

Gauge Capital Acquires Lucent Health 

Cain Brothers, a division of KeyBanc Capital Markets, announced that it served as exclusive financial advisor to Lucent Health Solutions in its acquisition by Gauge Capital.  Lucent Health Solutions is a leading third-party administrator serving the self-insured employer market, with a fully integrated care management solution. It was previously backed by NaviMed Capital, which acted as the seller in this transaction.   Gauge Capital is a private equity firm specializing in management buyouts, recapitalizations, divestitures, privatization, consolidation and growth investments in middle-market companies. Gauge invests in five key sectors: business services, food and... Read More »
Vista Apex Acquired by Behrman Capital 

Vista Apex Acquired by Behrman Capital 

On April 10, Behrman Capital announced that it entered into an agreement to acquire Vista Apex.  Vista Apex manufactures a variety of consumable dental products for preventative oral hygiene, endodontics and restorative dentistry, including RE-GEN™ Bioactive Bulk Fill Composite, a popular bulk fill, dual-cure methacrylate-based material formulated to allow clinicians to fill all classes of restorations without shrinkage. The company was founded in 1997.  Behrman Capital, a private equity firm, has raised more than $3 billion since its formation in 1991. Healthcare services is one of the firm’s three industry focuses. It is based in New York City.  This transaction is... Read More »
Insider’s Insight: Analyzing MOB Market Trends with Mindy Berman of JLL Capital Markets

Insider’s Insight: Analyzing MOB Market Trends with Mindy Berman of JLL Capital Markets

Despite a recent uptick in M&A activity in Q1:24, the medical office building (MOB) market remains in flux. To understand the underlying dynamics, we spoke with industry expert Mindy Berman, Senior Managing Director in the Healthcare Capital Markets Group at JLL, a leading global commercial real estate and investment management company. JLL is the top capital markets intermediary in both the United States and globally, as well as the leading MOB broker in the United States. Between 2017 and 2022, JLL advised on 35% of all medical office sales, amounting to more than $7 billion in disclosed prices. The company has remained active since then, with 26 transactions announced during 2023,... Read More »
Vertex Pharmaceuticals Purchases Alpine Immune Sciences $4.9 Billion

Vertex Pharmaceuticals Purchases Alpine Immune Sciences $4.9 Billion

Vertex Pharmaceuticals announced that it has agreed to acquire Seattle-based Alpine Immune Sciences for $4.9 billion. Alpine Immune Sciences is a clinical-stage biopharmaceutical company, which is engaged in discovering and developing protein-based immunotherapies to treat autoimmune and inflammatory diseases. The company’s approach includes a proprietary scientific platform that converts native immune system proteins into differentiated, multi-targeted therapeutics. According to its most recent annual report, the company’s revenue for FY 2023 was approximately $58.9 million, and EBITDA was -$43.3 million. Vertex Pharmaceuticals is an American biopharmaceutical company based in... Read More »
Sanford Acquires Women’s Health Center in Williston, North Dakota

Sanford Acquires Women’s Health Center in Williston, North Dakota

Sanford Health announced its expansion into the Williston, North Dakota area with its recent acquisition of Great Plains Women’s Health Center. Great Plains Women’s Health Center is a full-service practice that addresses the obstetric and gynecologic (OB/GYN) needs of women at every stage of life. According to its website, the practice has four providers on staff. Sanford Health is one of the largest rural health systems in the nation. Headquartered in Sioux Falls, South Dakota, the organization serves 1.4 million patients and nearly 200,000 health plan members across 250,000 square miles. The integrated health system has 45 hospitals, 211 clinic locations, more than 160 Good Samaritan... Read More »
Ascend Plastic Surgery Partners Expands to Florida With Ponte Vedra Plastic Surgery

Ascend Plastic Surgery Partners Expands to Florida With Ponte Vedra Plastic Surgery

Ascend Plastic Surgery Partners announced that it has acquired Ponte Vedra Plastic Surgery, expanding its footprint into Florida. Ponte Vedra Plastic Surgery is a cosmetic and reconstructive surgery center serving patients in North Florida and South Georgia. According to its website, the practice has six providers on staff. Ascend Plastic Surgery Partners is an Atlanta-based management services organization formed by private equity firm Sheridan Capital Partners in October 2023. The plastic surgery firm has practices in Alabama, South Carolina, Utah and New Mexico. Ponte Vedra Plastic Surgery was advised by Westcove Partners and Advos Legal. Ascend was advised by McDermott Will & Emery... Read More »
RadNet Acquires Six Imaging Centers in Houston MSA

RadNet Acquires Six Imaging Centers in Houston MSA

RadNet, Inc. announced that it has signed a definitive agreement to purchase the assets of six imaging centers in the greater Houston, Texas MSA. This acquisition, which is anticipated to be completed before the end of the second quarter of 2024, is RadNet’s second announced transaction in the Houston area. Upon closing, the transaction will bring the number of RadNet centers in the Houston MSA to 13. The acquired assets include six imaging centers in the Houston MSA. The centers offer a broad range of imaging services, including MRI, CT, mammography, ultrasound and X-ray, and currently operate under the American Health Imaging brand. RadNet, Inc. is a provider of freestanding, fixed-site... Read More »
PE-Backed ExperCARE Purchases MedCenter Urgent Care

PE-Backed ExperCARE Purchases MedCenter Urgent Care

ExperCARE, a partner company of private equity firm Seven Hills Capital, announced that it has purchased MedCenter Urgent Care. MedCenter Urgent Care is a premier urgent care and family medicine provider headquartered in North Port, Alabama, with additional locations throughout greater Tuscaloosa. ExperCARE is a Savannah, Georgia-based provider of urgent care and occupational health services.  The partnership marks a significant expansion for ExperCARE, extending its geographic reach and reinforcing its dedication to high-quality, patient-centered care across West and Central Alabama. Financial terms of the deal were not disclosed. According to data captured in the LevinPro HC... Read More »
Alcanza Clinical Research Acquires Innovation Medical Research Center

Alcanza Clinical Research Acquires Innovation Medical Research Center

Methuen, Massachusetts-based Alcanza Clinical Research announced on April 9 its acquisition of Innovation Medical Research Center, a multi-specialty clinical research center in Palmetto Bay, Florida.  Innovation conducts Phase I to Phase IV clinical trials in key therapeutic areas such as cardiology, dermatology, endocrinology, gastroenterology, infectious disease, internal medicine, nephrology, neurology, psychiatry, rheumatology and women’s health.  Alcanza Clinical Research is a network of research facilities focused on bringing clinical trial opportunities involving life-changing treatments and vaccines to all patients, especially those from underrepresented... Read More »
The 10 Multi-Billion Dollar Deals that Kicked off 2024

The 10 Multi-Billion Dollar Deals that Kicked off 2024

The first quarter of 2024 started the Healthcare M&A market off with a bang, with 13 transactions in the billion-dollar price range announced during the first quarter. This compares to Q1:23, when only six transactions exceeded $1 billion. More than half of the billion-dollar transactions announced during Q1:24 were in the Biotechnology sector. Acquirer Target Price Target Sector Novo Holdings A/S Catalent, Inc. $16,500,000,000 Other Services Gilead Sciences, Inc. CymaBay Therapeutics, Inc. $4,300,000,000 Biotechnology Health Care Service Corporation Cigna’s Medicare assets $3,700,000,000 Managed... Read More »