There was an eclectic mix of Physician Medical Group acquisitions in August, with nine on the books so far, according to Deal Search Online. Good news has remained rare for the sector during the COVID-19 pandemic, but investors are keeping up with dealmaking nonetheless. Here a few notable deals.
Vancouver-based CRH Medical Corporation (NYSE: CRHM) continued its buying spree, acquiring Orange County Anesthesia Associates, LLC for $6.2 million. Orange County Anesthesia provides anesthesia services to a single gastroenterology ambulatory surgery center in Orlando, Florida, and generates annual revenues of $3.1 million.
Orange County Anesthesia is CRH Medical’s fifth physician medical group acquisition of 2020.
Beacon Orthopaedics and Sports Medicine and Revalstoke Capital Partners made their first deal together in August, adding Reconstructive Orthopaedics & Sports Medicine Inc. (6 physicians). Reconstructive Orthopaedics offers physical therapy and orthopaedic surgery at three locations in the Cincinnati area with six physicians.
Revelstoke Capital Partners acquired Beacon Orthopaedics in July 2019 as the launchpad for a national management services organization.
EyeSouth Partners also expanded its network by adding Retina Associates of Middle Georgia (3 physicians) for an undisclosed price. The affiliation represents EyeSouth’s eighth in the state of Georgia and eighteenth affiliation overall. EyeSouth Partners is backed by Shore Capital Partners.
Several transactions were announced in the last week of August. Family Allergy and Asthma, a portfolio company of Prairie Capital, purchased Arkansas Allergy & Asthma (5 physicians), which provides complete allergy testing as well as specialized diagnostic and medical therapies for asthma, eczema and a variety of other allergic conditions.
Hospitals haven’t made many Physician Medical Group acquisitions lately, but Albany Medical Center expanded its network last week with a new deal. The not-for-profit hospital bought Capital Region Otolaryngology Head and Neck Group (8 physicians) for an undisclosed sum. The practice treats conditions related to the ears, nose and throat and has three locations in the Albany area.