Ampersand Capital Partners invests in Julius Clinical Research
Ampersand Capital Partners, based in Wellesley, Massachusetts, announced its acquisition of Julius Clinical Research. According to data captured in the LevinPro HC database, this acquisition is the 40th contract research organization (CRO) transaction of the year. Based in the Netherlands, Julius Clinical Research is a leading academic clinical CRO that provides clinical trial services and real-world evidence studies to biopharma sponsors. Founded in 1988, Ampersand is a middle-market private equity firm with more than $3 billion of assets under management dedicated to investments in the healthcare sector. This transaction will allow Julius Clinical Research to expand... Read More »
AbbVie Acquires ImmunoGen for $10.1 Billion, Expanding Solid Tumor Portfolio
AbbVie Inc. and ImmunoGen, Inc. announced on November 30 a definitive agreement under which AbbVie will acquire ImmunoGen, a publicly traded biotechnology company focused on the development of antibody-drug conjugate (ADC) technology to treat cancer. Under the terms of the transaction, AbbVie will acquire all outstanding shares of ImmunoGen for $31.26 per share in cash. The transaction values ImmunoGen at a total equity value of approximately $10.1 billion. ImmunoGen’s flagship cancer therapy ELAHERE® (mirvetuximab soravtansine-gynx) is approved for the treatment of platinum-resistant ovarian cancer. According to its 2022 financial report, ImmunoGen had total revenues of... Read More »
New Story Expands in Ohio with Acquisition of The Learning Spectrum
This week, New Story announced its recent purchase of The Learning Spectrum, an organization offering educational, behavioral and social services in Johnstown, Ohio. The Learning Spectrum provides individualized services to meet the needs of children between the ages of with Autism and related disabilities in and out of the school. Founded in 1997, New Story is a leading provider of special and alternative education and therapeutic services. New Story offers integrated academic and therapeutic programming to children and young adults with autism spectrum disorder, mental illness, emotional and behavioral challenges. Rivermont Schools and Your Life ABA clinics are part of the... Read More »
MB2 Dental Acquires Studio Dental and Twin Peaks Dental
MB2 Dental Solutions announced it added two more practices to its growing portfolio. Led by Dr. Athena Storey, Studio Dental provides dental services including general, family, cosmetic and sedation dentistry. The practice operates out of Oro Valley, Arizona, a suburb of Tucson. Twin Peaks Dental is based in Tucson, Arizona. According to its website, it has one physician on staff: Brian Martin, DDS. MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners since February 2021, partners with dentists and specialists in more than 35 states. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic... Read More »
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 »