Centerstone and Seven Counties to Merge
Centerstone, one of the nation’s largest not-for-profit behavioral health care providers, signed a letter of intent to affiliate with Seven Counties Services, the largest not-for-profit behavioral health care provider in the Louisville, Kentucky area. Seven Counties employs nearly 1,400 clinical and administrative staff and delivers services to more than 34,000 people each year. This merger will create an organization with 181 locations in Florida, Illinois, Indiana, Kentucky and Tennessee, with approximately $310 million in annual revenues. It will employ more than 4,500 people and serve an estimated 150,000,000 individuals of all ages. It will change its name to Centerstone... Read More »Recovery Centers of America Makes Its First Acquisition
The behavioral health care sector has a new acquirer in its midst. Recovery Centers of America, a portfolio company of Deerfield Management, announced its first deal on March 9. Recovery Centers of America, based in King of Prussia, Pennsylvania, was launched in September 2015 by real estate developer J. Brian O’Neil and received $231.5 million from Deerfield soon thereafter. The target was Lighthouse Recovery Center, a 53-bed drug and alcohol abuse treatment facility in Mays Landing, New Jersey. The acquisition includes the residential treatment center and three satellite outpatient sites in south Jersery. Read More »Leap Day Boosts February Deal Volume
It’s Leap Year, which means February was a day longer in 2016. This year, that extra day marked the announcement of seven healthcare transactions, which raised the month’s total to a healthy 113 deals. The services sectors were more active than usual, and accounted for 65% of the total. Usually, the services side makes up about 55% to 60%. Dollar volume was healthy, too, at $27.7 billion. But given the records set in 2015, February’s dollar total ended up 35% below the same month a year ago. The deals may be getting smaller, but they’re still being made. Read More »Biggest Health Care Deals in January 2016
The pace of health care mergers and acquisitions slowed considerably in January 2016. In part, that’s due to the rush to get business off the books by the end of the calendar year, which is why fourth quarters are usually so busy. This year we’ve counted about 95 transactions announced in January, which is 32% lower than December 2015’s total, and 29% below January 2014. Thanks to Shire plc’s (NASDAQ: SHPG) $32 billion deal for Baxalta Inc. (NYSE: BXLT), spending in the month handily beat those previous months. But who would’ve thought a behavioral health care deal would rank as the month’s second largest deal? Check out the chart below. We’ll have... Read More »2015 Health Care M&A Beats All Records
It’s déjà vu all over again. 2014 was a record-breaker for health care M&A, with 1,317 transactions and spending at an astronomical $387 billion. Then 2015 came and went and, once again, we’re writing about a record-breaking number of transactions, 1,460 currently, and astronomical spending of $563 billion. Read More »Schedule a demo
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