Akumin Files for Bankruptcy to Eliminate $470 Million in Debt
Radiology provider Akumin announced that it has filed for Chapter 11 bankruptcy protection in a bid to eliminate a debt of $470 million, as reported by Radiology Business. Akumin’s approach is to convert this debt into common shares of the company’s stock, which will be owned by their lender, Stonepeak. As part of this restructuring, Akumin will transition from a publicly traded entity to a privately held company, bolstered by an infusion of $130 million in new investment from Stonepeak. The decision marks the conclusion of a period of financial turmoil for Akumin, which saw the value of its stock plummet by more than 80% in the past year. This crisis was exacerbated by... Read More »
UnitedHealth Group Reports 14% Growth YoY, Expands Services & Customer Base
UnitedHealth Group Incorporated (NYSE: UNH), one of the largest health insurers in the United States, reported its third-quarter financial results on Friday, October 13. Last year, the company reported positive performance and balanced growth across its Optum and UnitedHealthcare business segments. This trend has continued into Q3:23, as the company’s growth in the third quarter was attributable to an increase in the number of people served by Optum and UnitedHealthcare, and the broadening scope of services offered. During Q3:23, UnitedHealth reported group revenues of $92.4 billion, up 14% from $80.9 billion in Q3:22. The company also announced Q3:23 earnings from operations of $8.5... Read More »
Healthcare M&A Volume Falls in Q3:23, According to Acquisition Data from LevinPro HC
Health care merger and acquisition activity declined in the third quarter of 2023, dropping to 497 deals, according to new acquisition data from LevinPro HC. Activity in the third quarter was 16% lower than in the second quarter, when 598 transactions were announced. Compared with the third quarter of 2022, activity fell 19% in the third quarter of 2023. The slowdown was felt across each healthcare vertical. Activity in sectors such as Physician Medical Groups saw significant declines in M&A volume, with 120 deals, a 20% decrease compared to the previous quarter. Demand for healthcare real estate, such as medical office buildings and properties, has driven high deal volume in the Other... Read More »
Navigating Labor Headwinds in Home Health
More than three-quarters of Americans ages 50 and older want to age in place, according to an AARP survey. This comes as The U.S. Administration on Community Living projects the number of Americans aged 65 and older will rise to 80.8 million by 2040, creating significant demand for home health delivery models in the United States. But now, with the HH&H sector approaching a projected global shortage of 10 million health workers by 2030, according to the World Health Organization, the labor issues we’re already seeing in the space are only going to worsen. The labor issues have profound implications for M&A activity within the sector. According to LevinPro HC data, deal volume in... Read More »
Hospice Care Transformed by Private Equity and Public Acquirers: Key Insights
In the evolving world of hospice care, private equity firms and publicly traded companies have made their mark, according to a recent study published in JAMA Network Open. The JAMA study looked at 1,967 U.S. hospice agencies, of which 158 were acquired by private equity firms and 250 were acquired by publicly traded companies. The data revealed a significant shift in the patient demographics and care approaches at hospice agencies acquired by private equity firms and publicly traded companies. This transformation seems geared towards maximizing profitability. According to the JAMA study, private equity-owned agencies saw a nearly 6% surge in patients with dementia... Read More »Schedule a demo
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