Ambulatory Surgery Center in Naperville, Illinois Sold for $15.2 Million

Ambulatory Surgery Center in Naperville, Illinois Sold for $15.2 Million

Physician Real Estate Capital Advisors, LLC (PRECAP) announced on August 15 that it advised a sale of an ambulatory surgery center (ASC) in Naperville, Illinois for $15.2 million. The building was sold by an undisclosed seller. The acquirer is also undisclosed, but it is a privately-held company that specializes in healthcare-related real estate acquisitions. The 19,000 square foot building was built in 2008 and is occupied by Suburban Gastroenterology, Ltd. and Midwest Endoscopy Center, LLC. SGI employs nine physicians with a tenth starting in 2023. The price is $763 per square  foot.  PRECAP provides sale-leaseback and investment sale healthcare real estate advisory services to... Read More »
Montecito Medical Acquires Florida-based Medical Office Building

Montecito Medical Acquires Florida-based Medical Office Building

On August 3, Montecito Medical Real Estate announced it acquired a medical office building (MOB) in Lithia, Florida for an undisclosed price. According to the LevinPro HC database, this marks the 22nd MOB transaction of Q2:22 and the 119th MOB deal of the year. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. The 37,000-square-foot building, which opened in 2021, is fully occupied under a long-term lease by Orthopaedic Medical Group of Tampa Bay. This acquisition expands Montecito’s footprint in the Tampa-St. Petersburg area.... Read More »
H.I.G. Capital Completes Acquisition of Barton & Associates

H.I.G. Capital Completes Acquisition of Barton & Associates

H.I.G. Capital, a global private equity and alternative assets investment firm based in Boston, completed its acquisition of Barton & Associates Inc. on Aug. 1. Terms of the deal were not disclosed. UBS Investment Bank and BofA Securities acted as financial advisors and McDermott Will & Emery LLP acted as legal counsel to H.I.G. JP Morgan Securities LLC acted as exclusive financial advisor and WilmerHale LLP served as legal counsel to Barton. Barton & Associates Inc. is a healthcare staffing company specializing in travel nursing, allied health care and government-related physician staffing markets. Headquartered in Peabody, Massachusetts, Barton offers staffing services on a... Read More »
Seavest Healthcare Properties acquires Manhattan medical office building

Seavest Healthcare Properties acquires Manhattan medical office building

On July 20, Seavest Healthcare Properties, a subsidiary of Seavest Investment Group, announced that it acquired a medical office building (MOB) in Manhattan for an undisclosed price.  The eight-story, 57,000-square-foot medical office building is anchored by NYU Langone Health, which offers a wide range of primary and specialist-based healthcare services.  Seavest Healthcare Properties invests in the medical office and outpatient facility sector. The firm acquires existing properties, joint ventures with established developers to build new properties and asset manages medical office buildings, outpatient facilities and similar healthcare real estate assets. This acquisition continues... Read More »
Amazon Acquires One Medical for $3.9 Billion Expanding Its Healthcare Market Presence

Amazon Acquires One Medical for $3.9 Billion Expanding Its Healthcare Market Presence

The $3.9 billion acquisition of One Medical (NASDAQ: ONEM) is one of Amazon.com’s (NASDAQ: AMZN) largest acquisitions, to date, and follows the rollout and expansion of Amazon Care in 2021. Through the acquisition, Amazon will have access to One Medical’s nearly 200 locations, increasing Amazon’s ability to provide in-person and digital care that’s accessible and convenient for all. On completion of the transaction, Amir Dan Rubin will remain as CEO of One Medical.  One Medical is a network of primary care clinics offering services such as wellness and prevention, treatment for chronic conditions, mental health services, child care and LGBTQ+ services. 1Life Healthcare, Inc., the... Read More »
PE-Backed Fast Pace Health Completes Investment in First Care Clinics

PE-Backed Fast Pace Health Completes Investment in First Care Clinics

Fast Pace Health, a portfolio company of private equity firm Revelstoke Capital Partners, announced on July 20 that it has completed an investment in First Care Clinics, which manages urgent care clinics in Kentucky and Indiana. First Care Clinics will be rebranded as Fast Pace in the coming months. Terms of the deal were not disclosed. The combination creates a multi-specialty provider of rural healthcare and value-based care population health management services offering more than 3 million annual patient visits in  Tennessee, Kentucky, Louisiana, Mississippi, Indiana and Alabama. Brentwood Capital Advisors LLC served as financial advisor and Waller Lansden Dorch and Davis, LLP was... Read More »