Private Equity in Health Care M&A, 2015

by | Dec 17, 2015 9:43 pm | eHealth, Long-Term Care, Medical Devices, Other Services, Private Equity

It’s been a superlative year for health care M&A overall, and private equity firms have made a significant contribution. With two (busy) weeks left to go in 2015, PE buyers have announced 129 deals, and that’s not including all the portfolio companies that were building their platforms in the various sectors. Below are some preliminary stats we’ve put together on PE activity in 2015. Private equity buyers account for 9% of the present deal volume of 1,395 transactions, which is typical in recent years. Deal value is a less substantial measure of PE activity, because the majority of deals don’t disclose financial terms. As of December 17, $9.1 billion has been... Read More »

Pharos Capital Builds Its Physical Therapy Platform

by | Dec 16, 2015 9:43 pm | Private Equity, Rehabilitation

Last June, Pharos Capital Group, LLC acquired a controlling interest in MOTION PT Holdings, a physical therapy and occupational therapy services company in New York City.  In the beginning, MOTION PT was a 98-lb. weakling, representing the combination of  Brooklyn-based MetroSportsMed and Manhattan-based STAR Physical Therapy. Since then, the company has added quite a bit of muscle, in the form of Bradley & Monson Physical Therapy (acquired in October 2015), and Dynamic Care Physical Therapy in Lawrence, New York (announced on December 8). A week later, Pharos put out a press release acknowledging the additions of Greco Physical Therapy and Sports Performance, PLLC, with two locations... Read More »

Hutcheson Medical Center Avoids (Permanent) Closure

by | Dec 15, 2015 8:09 pm | Hospitals

Hutcheson Medical Center is back in business, at least on paper. The 114-bed acute care facility in Fort Oglethorpe, Georgia, filed for Chapter 11 bankruptcy protection in November 2014, and was closed on December 4, 2015. There was still some hope that a buyer would emerge before Monday, December 14, when its license was scheduled to expire. At least two bidders showed up on Friday, December 11: Chicago-based People’s Choice Hospital, a boutique company that specializes in managing struggling healthcare systems, placed a $4.0 million bid for the main hospital campus. That was eventually topped by Atlanta-based private investment company, ValorBridge Partners, with a $4.2 million... Read More »

Salinas, CA: A Hot-Bed of Health Care M&A

by | Dec 11, 2015 8:48 pm | Home Health & Hospice, Hospitals, Physician Medical Groups, Private Equity

Health care M&A is booming this year, even more than last, and it’s reaching into hamlets and valleys all across the nation. One such place: Salinas, California, from which three transactions have originated in the past two months. Of course it’s not Chicago or New York City, and that’s the point. The last time we recorded a deal for a health care company in Salinas was 2006. Here are the deals that have percolated up in the Salinas Valley: WorkWell Medical Group LLC, a network of five urgent care clinics, was acquired by Salt Creek Capital of Menlo Park, California Salinas Valley PrimeCare Medical Group, a 20-physician primary/specialty medical group, was acquired by... Read More »