PE-Backed Advanced Dermatology and Cosmetic Surgery Acquires Esterson Dermatology
Advanced Dermatology and Cosmetic Surgery (ADCS), a portfolio company of private equity firms Harvest Partners and Audax Private Equity, announced on June 28 the acquisition of Esterson Dermatology in Pikesville, Maryland. The acquisition marks the 160th location for ADCS as it continues to expand nationwide. Terms of the deal were not disclosed. Esterson Dermatology is a private practice led by Dr. Faith Esterson, a board-certified dermatologist and fellow of the American Academy of Dermatology. With offices in 14 states, ADCS was founded in 1989 and treats patients for conditions of the skin, hair and nails and offers advanced skin cancer treatments. It also offers non-surgical and... Read More »
Investment Firm New Mountain Capital Buys Contract Research Organization Emmes
New Mountain Capital (NMC) announced that it is acquiring Emmes, a contract research organization (CRO) based in Rockville, Maryland, from Behrman Capital. Founded in 1999, New Mountain Capital is an investment firm taht manages more than $35 billion in assets. It is based in New York City with offices in San Francisco and London. During 2021, NMC raised more than $10.2 billion in private equity funding. Emmes serves academic institutions, government agencies, non-profit organizations, foundations and biopharmaceutical companies in more than 60 countries. Emmes has more than 1,300 employees and achieved $110 million in 2021 revenue. It was founded in 1977. This is NMC’s... Read More »
Confluent Health-backed Strive Physical Therapy Acquires Dresher Physical Therapy
Strive Physical Therapy and Sports Rehabilitation, backed by Confluent Health, a subsidiary of the private equity firm Partners Group, acquired Dresher Physical Therapy on June 23. Financial terms of the deal were not disclosed. Founded in 2005, Strive Physical Therapy and Sports Rehabilitation is a physical therapy practice. It has 265 employees across 32 clinics in New Jersey and greater Philadelphia. The practice deals with sports medicine, work injuries, neurological conditions, occupational therapy and more. Dresher Physical Therapy is a private, therapist-owned physical therapy practice with two locations in Blue Bell and Fort Washington, Pennsylvania. It has 11 physical... Read More »
Alluvion Health acquires Moore Medical Clinic in Choteau, Montana
Alluvion Health is expanding to Choteau, Montana, with the acquisition of Moore Medical Clinic, a medical group practice that has been owned and operated by nurse practitioner Caralynn Moore for the past 30 years. The transition will take place on July 1, 2022. The new ownership will expand Moore Medical Clinic’s providers and services, including lab and radiological services in addition to primary care. Terms of the deal were not disclosed. Alluvion Health is a locally owned and operated not-for-profit health center focusing on providing primary and preventive medical, dental and behavioral care. Alluvion Health is governed by a board of directors including at least 51% patients and... Read More »
Private Equity Firm Astorg acquires Dutch Contract Research Organization
Astorg announced on June 20 that it acquired Avania, a global, full-service MedTech contract research organization (CRO) based in the Netherlands. Avania specializes in medical devices, technology and combination products. It was formed in March 2020 from the combination of five complementary businesses and established a platform to serve sponsors worldwide in advancing medical technology products from early development to post-market. It ensures customized, scalable solutions that optimize efficiencies and streamline the advancement of medical technology. Astorg is a global private equity firm with $15.7 billion of assets under management. Astorg partners with management teams to... Read More »
UnitedHealth Group’s Optum Acquires EMIS Group For $1.5 Billion
Optum, a subsidiary of UnitedHealth Group since 2011, has announced the purchase of EMIS Group, a UK healthcare technology company, for approximately $1.5 billion USD, or £1.24 billion, in an all-cash transaction. An affiliate of UnitedHealth’s Optum, Bordeaux UK Holdings II Limited, has offered £1,925 per share in cash, reflecting a 49% premium to EMIS’ closing price on June 16. Optum UK CEO Rob Sergeant said in a statement the deal to acquire EMIS will bring more advanced technology solutions and capabilities to the UK’s National Health Service and general practitioners. EMIS Group is a provider of healthcare software, information technology and related services in the UK. EMIS... Read More »
Gastro Health Makes Fifth Acquisition of the Year
Gastro Health LLC, a portfolio company of OMERS Private Equity and Audax Private Equity, announced on June 13 that it acquired Digestive Disorders Associates for an undisclosed price. The acquisition marks Gastro Health’s fifth transaction in 2022. Digestive Disorders Associates operates three offices in Annapolis, Chester and Gambrills, Maryland, with 10 physicians. The physicians perform procedures at Maryland Diagnostic and Therapeutic Endo Center. The practice also manages anesthesia, pathology and infusion treatment services. Gastro Health is a medical group specializing in the treatment of gastrointestinal disorders, nutrition and digestive health. It operates in Florida,... Read More »
Marcus & Millichap Brokered $6.6 Million MOB Sale in La Porte, Indiana
Marcus & Millichap, a California-based commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced on June 14 it brokered a $6.6 million sale of a 16,700-square-foot medical office building (MOB) in La Porte, Indiana. Constructed in 2011, the MOB is fully occupied by Northwest Health, a subsidiary of Community Health Systems. The building has a full-service sports medicine clinic with a surgery center, imaging room and aquatic therapy pool. Marcus & Millichap’s Frank Roti and Brett Rodgers, first vice presidents of investments, represented the seller, an Indiana-based developer, and procured the buyer, an... Read More »