Trilogy Health Services Fetches $1.1 Billion
Privately held Trilogy Health Services, the Louisville, Kentucky-based owner and operator of 96 long-term care facilities, was sold to a couple of REITs, Griffin-American Healthcare REIT III and NorthStar Healthcare Income Inc. for $1.1 billion. The joint venture between Griffin-American (which will own 70% of the JV) and NorthStar (30%) will effectively own 96.4% of Trilogy. The remaining 3.6%, or $24 million, will be owned by Trilogy management. The price includes the assumption of $205.1 million of debt. Trilogy operates 96 properties with more than 10,000 beds across four states (Indiana, Kentucky, Michigan and Ohio).Trilogy owns 53 of the facilities and the remainder are leased, some... Read More »McKesson Buys Irish Drug Distribution Business
McKesson Corporation (NYSE: MCK) got back into acquisition mode last week with its purchase of the pharmaceutical distribution division of UDG Healthcare plc for €408 million (US$463 million) in cash. Under terms of the agreement, McKesson will acquire United Drug Sangers in Northern Ireland and United Drug in the Republic of Ireland, as well as TCP, a leading home healthcare provider in the Republic of Ireland and MASTA, UDG’s travel healthcare business based in the United Kingdom. The deal boosts McKesson’s European drug distribution business, but not as much as its October 2013 deal for 75% of the German distributor Celesio AG, totaling $8.2 billion. In July, Celesio announced its UK... Read More »Long-Term Care Deals Still Flourishing
The number of long-term care deals set a new record in 2014, with a total of 297 transactions announced. Through September 18th, the sector has logged 215 transactions, which could put 2015 in contention to surpass last year’s record. Or not. This is the year of the small(er) senior housing and care transaction, with deal value now standing at $9.65 billion, compared with last year’s blowout total of $29.3 billion. There were five billion-dollar-plus deals announced in 2014, compared with only one thus far in 2015. Here are the year’s biggest deals, to date. AcquirerTargetPrice Joint ventureTrilogy Health Services$1.12 billion NorthStar Realty Finance32 independent living communities$875... Read More »Dental Deal Hits the Spotlight
It’s been a while since a dental deal made news. Last week’s largest deal was DENTSPLY International’s (NASDAQ: XRAY) $13.3 billion all-stock merger with Sirona Dental Systems Inc. (NASDAQ: SIRO). DENTSPLY designs, develops, manufactures and markets various consumable dental products for the professional dental market, while Sirona has a more technological spin on the market. It develops, manufactures and markets dental equipment worldwide through four segments, Dental CAD/CAM Systems; Imaging Systems; Treatment Centers; and Instruments. The merger will create the world’s largest maker of professional dental products and technologies, with net revenue of approximately $3.8 billion and... Read More »Schedule a demo
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