REVA Lands at Beekman Investment Partners
Beekman Investment Partners, a New York-based private equity firm, recently recapped REVA, Inc., the largest global fixed-wing air medical platform in the United States. The deal was closed along with strategic partner Directional Aviation LLC and Goldman Sachs Specialty Lending Group. REVA was formed in 2012 through the merger of AeroJet International and Air Ambulance Professionals. In the past six years, REVA has grown to be the global market leader in international long-range air medical transports and has set the standard for safety, reliability and patient service excellence. The company has bases of operations in Ft. Lauderdale, Florida, San Juan, Puerto Rico, Phoenix, Arizona and... Read More »
CityMD Adds 2 Urgent Care Companies
CityMD, the New York City-based urgent care chain, is beginning to tap the services of its partner, Warburg Pincus LLC. On February 13, the company announced its acquisition of STAT Health, a portfolio company of Spaons Barber Jesse & Co., and FirstMed Immediate Medical Care, for an undisclosed price. CityMD was acquired by Warburg Pincus in April 2017 for a reported price of $600 million, including debt, according to Reuters. It was founded in 2010 by Dr. Richard Park, who remains CEO, and other physicians as a single practice in Manhattan. At the time of its sale to Warburg Pincus, it operated 68 walk-in urgent care centers, some of which were added with its 2013 merger with Premier... Read More »
Charles River Labs Adds MPI Research
The CRO deals just keep coming. Four have been announced since the beginning of the year, targeting contract research organizations (CROs). The latest announcement came from Charles River Laboratories International (NYSE: CRL), which is paying $800 million for Mattawan, Michigan-based MPI Research. This is the highest disclosed price for an acquisition by Charles River since 2011. MPI is a premier non-clinical contract research organization (CRO) that provides comprehensive testing services to biopharmaceutical and medical device companies worldwide. Its acquisition enhances Charles River’s ability to partner with clients across the drug discovery and development continuum. This... Read More »
Medical Staffing M&A Makes a Comeback
Labor shortages for physicians and nurses may heat up the medical staffing market in 2018. Through the first 10 days of February, three transactions for these service companies have been announced. Last year, 16 transactions targeting medical staffing services were made public, the highest number of deals in this segment since 2005 (19 deals) and 2004 (20). The most recent deal announcement came from Medical Solutions, a portfolio company of TPG Growth based in Omaha, Nebraska. Medical Solutions is a healthcare staffing firm that specializes in placing registered nurses in temporary travel assignments throughout the country. The target, PPR Travel Nursing, was a division of PPR Talent... Read More »2017 Biggest Healthcare Deals by Sector
2017 was another big year for billion-dollar healthcare transactions. Among the deals that disclosed prices, 44 topped the billion-dollar mark, for a total of approximately $263.1 billion. Although that number seems high, there were 50 billion-dollar deals announced in 2015, although those totaled a slightly lower $240.1 billion. 2016 posted lower totals for both the number of billion-dollar deals (39) and combined prices ($194.1 billion). Of course the biggest healthcare deal in 2017 was the $77 billion acquisition of Aetna Inc. (NYSE: AET) by CVS Health (NYSE: CVS). But there were many more sizable transactions across the sectors, as the chart below illustrates. See how many you remember... Read More »Schedule a demo
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