PhyNet Dermatology Expands in California
PhyNet Dermatology LLC announced that it expanded its presence in California with the acquisition of the Center for Dermatology Cosmetic and Laser Surgery. With two locations in the Bay Area, in Fremont and Milpitas, California, the Center for Dermatology Cosmetic and Laser Surgery has been one of the leading dermatology facilities in the community since 1965. According to its website, the practice has three providers on staff. PhyNet Dermatology is a dermatology practice management company headquartered in Franklin, Tennessee. With more than 280 network providers at 115 locations in 17 states, PhyNet Dermatology offers administrative management and support that enables... Read More »
Provident Healthcare Partners Advises East Coast Institute for Research in its Partnership
Provident Healthcare Partners announced that it has advised East Coast Institute for Research (ECIR) in its partnership with Southlake, Texas-based private equity firm Gauge Capital. Gauge Capital has made a growth investment in ECIR as part of the transaction, which represents Gauge Capital’s entrance into the clinical research site sector. Headquartered in Jacksonville, Florida, ECIR is a clinical research site management organization with eight sites in Florida and Georgia, 14 partnered provider practices and 26 principal investigators. ECIR manages all aspects of the Phase II – Phase IV trial process and holds deep sponsor relationships across several indications including... Read More »
Stage Equity Partners Acquires Medical Office Building Portfolio in Libertyville
An affiliate of Stage Equity Partners LLC has acquired The Hollister Medical Office Portfolio in Libertyville, Illinois from Hollister Incorporated, an international medical supply manufacturer with its corporate headquarters in an adjacent 300,000-square-foot building. The deal was announced on November 27, 2023, and marks the 181st Medical Office Building (MOB) transaction of 2023. The Hollister Medical Office consists of two buildings that total 91,818-square-foot. The portfolio consists of the three-story, 57,585-square-foot building at 1800 Hollister Drive that sits on 7.9 acres and was building in 1999. The other facility is a three-story, 34,233-square-foot building at 1900... Read More »
Behavioral Health Care M&A Deals Decline Amid Construction-Related Inflation, Fed Rate Increases
Market conditions that include rising borrowing costs and increasing construction-related expenses have led those engaged in behavioral health care deals to employ various growth and expansion strategies. Shane Harmon, senior director, behavioral health at Blueprint – Healthcare Real Estate Advisors, is a broker who has had to go well beyond reliance on the typical M&A approach to business. “I would say since Blueprint started their behavioral division, in July of last year, we’ve done 12 transactions [worth] $80 million,” Harmon said. The deals include eight real estate conversions, three sale leasebacks and one business sale. The firm is also working on three other sales.... Read More »
Gilde Healthcare Acquires Koscher & Würtz
Goodwin Procter announced that it acted as a financial advisor to Gilde Healthcare in its acquisition of Koscher & Würtz. The financial terms were not disclosed. Koscher & Würtz is a German medical device company that specializes in the manufacturing of precision surgical hand instruments. The company was founded in 1983. Gilde Healthcare is a specialized healthcare investor with two fund strategies: venture and growth and private equity fund. Gilde Healthcare Private Equity participates in profitable lower mid-market healthcare companies based in North-Western Europe. The Private Equity fund targets healthcare providers, suppliers of medical products and service... Read More »
Specialized Dental Partners Acquires Four Practices
Specialized Dental Partners (SDP) continued its acquisition streak with the addition of four endodontic practices in November. Endo of Illinois is based in Bloomington, Illinois; Falk Perio CWF Periodontics & Implants operates out of San Antonio, Texas; Garden City Endo is in Garden City, New York; and OMP Endodontics is run out of Tucson, Arizona. A portfolio company of the private equity group Quad-C Management, SDP is a leading specialty dental service organization that provides comprehensive support services to endodontic specialists across the United States. These transactions add five physicians to SDP’s network. The financial terms were not disclosed. ... Read More »
Manhattan Psychology Group Joins ARC Health
ARC Health, a Thurston Group portfolio company, has announced the acquisition of Manhattan Psychology Group (MPG) for an undisclosed price. The transaction was facilitated by Mertz Taggart, a healthcare-focused M&A advisory firm, headquartered in Fort Myers, Florida. Established in 2011, MPG provides comprehensive psychological, behavioral and educational services in the New York City MSA. With more than 200 providers, including clinical psychologists, neuropsychologists, psychotherapists, board-certified behavior analysts and special education teachers, MPG provides wrap-around virtual and in-person support across all settings, including the office, home, school and community. ... Read More »
Smith+Nephew Acquires CartiHeal for $180 Million
After being acquired by Bioventus in April 2022 for $315 million upfront, CartiHeal is now changing hands. Smith+Nephew announced that it has entered into a definitive agreement to acquire CartiHeal, a privately held medical device company with headquarters in Israel. Under the terms of the agreement, Smith+Nephew will pay an initial cash consideration of $180 million at closing, and up to a further $150 million contingent on financial performance. CartiHeal develops proprietary implants for the treatment of cartilage and osteochondral defects in traumatic and osteoarthritic joints. The company has developed Agili-C, a novel sports medicine technology for cartilage regeneration... Read More »