Irwin Naturals Acquires Its Third Ketamine Treatment Provider of 2022
Irwin Naturals completed its acquisition of KHC Capital Group, LLC, which owns a chain of five ketamine treatment clinics in Florida plus an additional partnership contract with an affiliate clinic in Mexico. Financial terms of the transaction were not disclosed. The addition of the new ketamine clinic to Irwin Natural’s expanding footprint positions Irwin Naturals well for accelerated profit growth. This acquisition also marks Irwin Natural’s second announced deal of the month, after the nutraceuticals (natural products and supplements) company acquired New England Ketamine PLLC, a healthcare clinic in Salem, New Hampshire that provides ketamine infusions to the residents of New... Read More »
24 Hour Home Care Acquires California Home Care Agency Trusted Life Care
24 Hour Home Care, an award-winning non-medical in-home care provider, announced its acquisition of Trusted Life Care, a home care agency that provides personal care for seniors in California’s Orange and Los Angeles counties. Financial terms were not disclosed. According to the LevinPro HC database, this marks the 44th Home Health & Hospice transaction of 2022 so far, as well as the fifth announced during the month of May. This announcement also follows 24 Hour Home Care’s previous acquisition of another California-based home care agency, Bright Moon Care Services in March for an undisclosed price. The move to acquire Trusted Life Care originated from a strong referral partnership... Read More »
Montecito Medical Expands Further into New York
On May 11, Montecito Medical announced that it acquired two medical office buildings (MOB) outside of Rochester, New York. The two properties, which are in Penfield, are 100% leased to University of Rochester Medicine (UR Medicine). UR Medicine is one of the largest healthcare systems in New York and consists of almost 1,500 beds and more than 1,000 specialists. Montecito Medical is one of the largest privately-held companies specializing in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. The acquisition continues the expansion of Montecito’s footprint in... Read More »
Greenbrook TMS Acquires Success TMS
Greenbrook TMS Inc., a leading provider of Transcranial Magnetic Stimulation (TMS) therapy in the United States, announced that its wholly-owned subsidiary, TMS NeuroHealth Centers Inc., will acquire all the issued and outstanding equity interests in Success TMS from its parent company, Success Behavioral Holdings LLC. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. The purchase price for the acquisition is valued at approximately $27.3 million, of which approximately $20.5 million will be payable on closing of the acquisition and $6.8 million will be held in an escrow account following determination of... Read More »
Clearview-backed MBI Acquires Two Leading Occupational Healthcare Providers
On May 11, Clearview Capital Fund IV, L.P. and its affiliates announced the acquisitions of two Colorado-based occupational healthcare providers, WorkWell Occupational Medicine, LLC and HealthQuest Medical Inc. & Conspire!, by MBI Industrial Medicine, Inc. According to the LevinPro HC database, the acquisitions of WorkWell and HealthQuest mark the fifth and sixth transactions announced within the occupational health subsector during 2022, and the second and third private equity transaction within the space, respectively. Another PE buyer making moves into occupational health is Chicago-based Seven Hills Capital, which backed Associates in Pediatric Therapy’s purchase of Jones Therapy... Read More »
Pfizer Acquires Biohaven for $11.6 Billion in Its Biggest Deal Since 2016
On May 10, Pfizer Inc. and Biohaven Pharmaceutical Holding Company Ltd. announced that they have entered into a definitive agreement under which Pfizer will acquire all outstanding shares of Biohaven not already owned by Pfizer for $148.50 per share in cash, or approximately $11.6 billion. Pfizer had previously taken a 2.6% stake in Biohaven in November 2021 for $173 per share, or approximately $350 million. With this deal, Pfizer will compete in a crowded market for migraine treatments from other large drugmakers such as Eli Lilly and Amgen. The proposed transaction includes the acquisition of Biohaven’s calcitonin gene-related peptide programs including Rimegepant, which is approved in... Read More »
Physical Rehabilitation Network Expands into California
On May 3, Gryphon Investors’ portfolio company, Physical Rehabilitation Network (PRN), announced its acquisition of Kinetix Advanced Physical Therapy. The financial terms of the deal were not disclosed. This is PRN’s first deal of the year. Founded in 1991, PRN specializes in physical therapy care, workplace ergonomics solutions and serves as a comprehensive practice management organization, providing non-clinical administrative support services to physical therapists across 16 states. PRN is known for its leading, value-driven practice management services and innovative, outcomes-driven physical therapy care. Kinetix Advanced Physical Therapy is a privately owned outpatient... Read More »
OncoHealth Secures Strategic Investment from Arsenal Capital Partners & McKesson Corporation
OncoHealth, the leading digital health company dedicated to oncology, announced on Monday it has received strategic investments from Arsenal Capital Partners, a private equity firm specializing in building transformational healthcare businesses, and from McKesson Corporation. The investments will support OncoHealth’s innovation and delivery of its oncology-specific digital health solutions for people with cancer, and Arsenal will take a majority ownership stake in the business. Financial terms were not disclosed. OncoHealth helps health plans, employers, providers, patients and life science researchers navigate the physical, mental and financial complexities of cancer through... Read More »