REIT Deals are Still Closing Despite COVID-19
Despite COVID-19 taking a hit on REIT stocks and earnings, especially in the senior care industry, some buyers managed to close deals in May, primarily for medical office buildings. This might come as a surprise since physician practices are getting hit especially hard by COVID-19, so these deals may have been in the works before the pandemic crashed into the economy, or real estate values are running cheap. Just this week, Anchor Health Properties, a full-service real estate development, management, and investment company focused on healthcare property, announced its purchase of the Walther Professional Center, an 18,471-square-foot medical office building located close to Northside... Read More »
Parthenon Capital Sponsors RxSense
Parthenon Capital added to its growing list of healthcare companies with its recent “significant” investment in RxSense, a healthcare technology company offering prescription savings plans to consumers and pharmacy benefit services and analytics to enterprise customers. Proceeds from the transaction will be used for various growth initiatives. Terms of the investment were not disclosed. Boston-based RxSense and its direct-to-consumer division combine its proprietary technology platform with direct contracts with the nation’s largest pharmacies and extensive consumer engagement tools, to deliver low prices on prescription drugs. Its consumer prescription savings plans deliver... Read More »
Mushroom Company Buys Ketamine Clinic
This could be the start of something psychedelic. Vancouver-based Champignon Brands Inc. (CSE: SHRM/OTCQB: SHRMF), a medicinal mushroom researcher, made its first acquisition in mid-May. As part of its plan to open five new U.S. healthcare clinics in 2020, the company bought Ketamine Wellness Clinic of Orange County in a cash-and-share deal. The clinic provides ketamine infusion services and is located on the Mission Hospital campus in Laguna Beach, California. Ketamine therapy is used to induce and maintain anesthesia, but “has emerged as a promising treatment option for many chronic diseases, such as depression, anxiety, post-traumatic stress disorder (PTSD), fibromyalgia and... Read More »
Adventist Invests in Blue Zones
Adventist Health has acquired Blue Zones, a community-based population health management company that employs a systemic and environmental approach to improving the health of entire cities and communities. The organization’s work in more than 50 communities across America has been credited with double-digit drops in obesity, smoking and Body Mass Index, achieving millions of dollars of savings in healthcare costs. With the new coronavirus pandemic, the deal highlights the attention now focused on health care (or lack of it) in whole communities. The target, based in Minneapolis, Minnesota, infuses healthy choices, enhances connections, instills purpose and fuels hope to impact... Read More »
Centric Buys Specialty Pharmacy Network
Centric Health Corporation (TSE: CHH) is on its way to becoming the largest specialty pharmacy company serving seniors in Canada, thanks to its recently announced acquisition of Remedy Holdings Inc. The price is approximately US$27.2 million. This is the second deal in March 2020 targeting special services for seniors. Early in the month, NaviHealth acquired Innovative Healthcare Delivery IHD delivers a high-touch, patient-centric and non-clinical approach that is paired with proprietary workflow and patient engagement technology to help seniors to better understand and participate in their care plans. In February, Guardian Pharmacy Services added to its Florida holdings with... Read More »