The Jordan Company Acquires Dental365

The Jordan Company Acquires Dental365

The middle-market private equity firm The Jordan Company (TJC) has announced a definitive agreement to acquire Dental365 from Regal Healthcare Capital Partners, L.P. The New Hyde Park, New York-based dental practice has more than 50 locations across New York, New Jersey and Connecticut. The company has nearly doubled in size each year and has over 400,000 patient visits annually. In addition, it employs over 165 dentists and 800 staff members. According to an article from PEHub, the deal is valued at approximately $440 million, roughly 14.7x Dental365’s annual EBITDA. TJC completed the acquisition through affiliates of The Resolute Fund V, L.P., which raised approximately $2.86... Read More »

ModivCare Expands Northeast Presence With Acquisition of CareFinders

Atlanta-based ModivCare has announced a definitive agreement to acquire CareFinders Total Care LLC, a personal care provider in the Northeast, with a scaled presence in New Jersey, Pennsylvani, and Connecticut. The deal is a 100% equity purchase valued at $340 million. After tax attributes, the net purchase price is $306 million.  CareFinders delivers approximately 10 million hours of care annually to over 7,500 patients through its more than 6,200 caregivers. CareFinders’ revenue is primarily generated from Medicaid and MCO payers. It has approximate annual revenues of $200 million.  This acquisition strengthens ModivCare’s position in the Northeast. Once the acquisition of CareFinders is... Read More »
Amwell Buys SilverCloud Health & Conversa Health

Amwell Buys SilverCloud Health & Conversa Health

Last week, Amwell announced it was buying two digital health companies to boost its telehealth platform. The companies are SilverCloud Health, which delivers a range of digital cognitive behavioral health programs that are evidence-based and clinically validated, and Conversa Health, which helps leading healthcare organizations including Northwell Health, UCSF Health, UNC Health, University Hospitals and Prisma Health to remotely manage and engage patients by delivering configurable, automated text-based conversations to support a wide range of clinical needs.  For the two companies, Amwell will pay $320 million in a mix of stock and cash. Aggregated 2021 calendar revenue of Conversa... Read More »
Cornerstone Grabs 12-Property Healthcare Portfolio

Cornerstone Grabs 12-Property Healthcare Portfolio

Cornerstone Companies, Inc. announced last week it has closed on its sixth medical office building portfolio, acquiring 12 healthcare real estate properties in nine states totaling more than 155,000 square feet. The portfolio was valued at $48.7 million, or close to $314 per square foot, and was completed by Cornerstone Fund VI, a private equity fund focused solely on medical real estate. The portfolio has a wide range of healthcare properties, including six individual clinical MOBs, three clinic/ambulatory surgery centers, an imaging and diagnostics center, a senior care facility, and a single stand-alone ambulatory surgery center.   The medical office buildings are Gateway Clinic Medical... Read More »
Health Care M&A Deals, July 31, 2021

Health Care M&A Deals, July 31, 2021

The Health Care M&A deals chart is a selection of transactions announced during the prior week(s). The M&A transactions presented here are from our new LevinPro Healthcare and LTC platform, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. To subscribe to our Health Care M&A deals chart and more, visit our membership site. LevinPro is devoted to healthcare merger and acquisition data for the serious analyst and investor. Every day, this service alerts you to developments in all the key segments of the health care service and technology markets. Behavioral Health... Read More »
Health Care M&A Deals, July 31, 2021

Health Care M&A Deals, July 23, 2021

The Health Care M&A deals chart is a selection of transactions announced during the prior week(s). The M&A transactions presented here are from our new LevinPro Healthcare and LTC platform, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. To subscribe to our Health Care M&A deals chart and more, visit our membership site. LevinPro is devoted to healthcare merger and acquisition data for the serious analyst and investor. Every day, this service alerts you to developments in all the key segments of the health care service and technology markets. Biotechnology  AcquirerTargetPriceBioIVTTissue... Read More »
Partners Group Acquires Pharmathen

Partners Group Acquires Pharmathen

Outsourced R&D companies, such as CROs and CDMOs, have been in huge demand this year due to industry tailwinds. Biotech and pharma firms are racing to find treatment for diseases of high unmet need, and external research firms have the capabilities to help life science companies reach the finish line. The M&A market for CROs, especially, has been grabbing all the attention, but CMDOs are in high demand as well, as showcased by the acquisition of Pharmathen by private equity firm Partners Group from BC Partners for $1.9 billion. BC Partners invested in Pharmathen in mid-2015 in a transaction valued at approximately $560 million.  Founded in 1969, Pharmathen is a leading CDMO... Read More »
Anchor Health Properties Buys 4 MOBs

Anchor Health Properties Buys 4 MOBs

The real estate investment firm Anchor Health Properties has expanded its property portfolio with the addition of four class-A medical office buildings (MOBs) totaling more than 210,000 square feet. Anchor Health is paying more than $100 million for the properties, or more than $475 per square foot, but the exact price was not specified. The assets were acquired through joint ventures with existing institutional equity partners in an off-market setting.  The portfolio includes University City Medical Office Building in Charlotte, North Carolina (66,525 square feet), NorthBay Medical Office Building in Fairfield, California (29,620 square feet), IDC Medical Plaza in Renton, Washington... Read More »
MemorialCare Health System & Physical Rehabilitation Network JV Strike a Deal

MemorialCare Health System & Physical Rehabilitation Network JV Strike a Deal

MemorialCare Health System and Physical Rehabilitation Network (PRN) announced a joint venture in 2020 to operate 17 community-based, full-service physical therapy centers, creating one of Orange County’s largest consolidations of comprehensive medical rehabilitation. And now the JV has struck an agreement to expand, together adding Complete Balance Solutions Institute for Physiotherapy, Inc. to their network. Founded in 2006, Complete Balance Solutions is a premier destination for neurological, vestibular and balance injuries and disorders. The team collectively brings more than 25 years of experience specializing in treating individuals with dizziness, balance and movement disorders and... Read More »
PE-Backed USOP Adds 2 Physician Groups in Alabama

PE-Backed USOP Adds 2 Physician Groups in Alabama

U.S. Orthopedic Partners (USOP) has had a busy 2021 so far. Back in March, the PE-backed physician network acquired Jackson Anesthesia Pain Center and Oxford Orthopaedics and Sports Medicine, PLLC in Jackson and Oxford, Mississippi, respectively.  Both practices are well known in their regional markets for providing the most up-to-date orthopedic care, including both non-surgical and surgical options to treat a wide array of muscular-skeletal issues, including injury. And now in July, it’s added four more practices. Earlier in the month, USOP partnered with Orthopedic Institute of North Mississippi (6 physicians), which provides sports medicine and comprehensive orthopedic treatments... Read More »