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CityMD Adds 2 Urgent Care Companies

CityMD Adds 2 Urgent Care Companies

by | Feb 22, 2018 11:36 am | Other Services, Urgent Care Centers

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

Charles River Labs Adds MPI Research

by | Feb 13, 2018 2:45 pm | CRO, Private Equity

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

Medical Staffing M&A Makes a Comeback

by | Feb 9, 2018 4:31 pm | Healthcare Staffing, Other Services, Private Equity

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

by | Jan 29, 2018 10:09 am | Behavioral Health Care, Biotechnology, eHealth, Long-Term Care, Managed Care, Medical Devices, Other Services, Pharmaceuticals, Physician Medical Groups, Rehabilitation

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 »
New MainStream Adds On to Platform Companies

New MainStream Adds On to Platform Companies

by | Jan 18, 2018 4:34 pm | Behavioral Health Care, Other Services, Physician Medical Groups, Private Equity

The recent crop of healthcare services platforms owned by New MainStream Capital is moving to the add-on stage. Last week brought two acquisition announcements from Omni Eye Services and CORDENTAL Group. Both companies were acquired in 2017. New MainStream committed $25 million in equity capital to buy CORDENTAL in March 2017. The Cincinnati-based company is a dental support organization that provides business support services to affiliated dental practices in the Mid-Atlanta, Midwestern and Southeastern regions. Omni Eye Services, based in Iselin, New Jersey, is an optometric referral practice providing a full range of specialty services for the advanced treatment of eye diseases. No... Read More »
Deal of the Week: UnitedHealth Buys Banmedica SA

Deal of the Week: UnitedHealth Buys Banmedica SA

by | Jan 2, 2018 10:55 am | Managed Care, Other Services

UnitedHealth Group (NYSE: UNH) wasted no time dwelling on its recent acquisition of DaVita Medical Group (NYSE: DVA) for $4.9 billion. On December 22, the healthcare giant announced its acquisition of Chilean healthcare company Banmedica SA (SSE: SGO) for $2.8 billion. Banmeica sells health insurance, operates hospitals and provides other services. It generated approximately $2.1 billion in revenue last year and has operations in Chile, Columbia and Peru. UnitedHealth is looking to grow in emerging and established global healthcare markets where it can leverage its expertise as both an insurer and a provider of medical care. The transaction enables Banmedica to leverage United... Read More »