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Francisco Partners Exits CoverMyMeds for $1.1 Billion

by | Jan 27, 2017 6:22 pm | eHealth, Other Services, Private Equity

Francisco Partners and McKesson Corp. (NYSE: MCK) are swapping companies again. Back in October 2013, the technology-focused private equity firm acquired McKesson Automation, which offers integrated pharmacy automation products for hospitals and health systems, thus streamlining the delivery of medications. Financial terms were not disclosed. In January 2017, McKesson acquired CoverMyMeds, LLC from Francisco Partners for $1.1 billion, and another $300 million if the company met future financial targets. To make things even cozier, McKesson and CoverMyMeds have partnered together to work with pharmacies since 2010. CoverMyMeds provides electronic prior authorization... Read More »

Urgent Care Centers May Benefit from ACA Repeal

by | Jan 20, 2017 7:38 pm | Other Services, Urgent Care Centers

Last week, the Urgent Care Association of America (UCAOA) released its annual Benchmarking Report. In it was the finding that the number of urgent care centers increased 10% in 2016, to 7,357 centers. Looking through our database, it’s obvious that the majority of that year-over-year growth in urgent care centers was de novo, not from mergers and acquisitions. Here’s how M&A in the urgent care segment has played out since 2010, the year the Affordable Care Act was signed. Urgent Care Center Deals, 2010 to 2016 YearNumber of DealsTotal $ Spent 201612N/A 201517$1.06 billion 20149$2.2 million 20132N/A 201210$7.8 million 20114N/A 20102$805 million #rowspan#Source: HealthCareMandA.com Only... Read More »

Outpatient Surgery Centers Take the Spotlight

by | Jan 10, 2017 5:52 pm | Other Services, Physician Medical Groups

After a record-setting year in 2016, the Physician Medical Group sector got off to a swift start in  2017, with a deal that is telling of changing healthcare paradigms, especially the shift from inpatient to outpatient care. Only two weeks into the new year, and seven transactions have been announced for physician practices and management companies. Envision Healthcare Corp. (NYSE: EVHC), the entity that officially combined Envision Healthcare Holdings and AmSurg Corp. (NASDAQ: AMSG) on December 1, 2016, announced three practice acquisitions in the first week alone. Privately held Dermatology Associates, Family Care Partners and Platinum Dermatology Partners announced one... Read More »

2016 Delivered on Health Care M and A

by | Jan 6, 2017 8:20 pm | Behavioral Health Care, Biotechnology, eHealth, Home Health & Hospice, Hospitals, Laboratories, MRI & Dialysis, Long-Term Care, Managed Care, Medical Devices, Other Services, Pharmaceuticals, Physician Medical Groups, Rehabilitation

As health care mergers and acquisitions go, 2016 lived up to the predictions that M&A activity would stay strong. Preliminary data for year-end totals shows 1,536 announced transactions across 13 healthcare sectors. The total represents a 1% increase in deal volume compared with 2015. (See chart below.) Spending on those deals was significantly lower than the previous year, at least for now. The combined total spending in 2016 now stands at $255.7 billion, down 36% compared with 2015’s $400.3 billion. Nearly $100 billion of that total now hangs in the balance, as two of 2015’s largest deals (Anthem/Cigna and Aetna/Humana) await decisions from a federal judge regarding... Read More »

What Private Equity Firms Are Buying in 2016

by | Dec 9, 2016 6:16 pm | Behavioral Health Care, Biotechnology, eHealth, Other Services, Physician Medical Groups, Private Equity

Private equity’s success relies upon forward-looking expectations about which firms are best positioned to capitalize on market conditions. The healthcare market poses unique challenges. Although healthcare targets may have the profit opportunities that appeal to PE firms, the volatile legislative and reimbursement environment can turn a “smart bet” into an albatross. A recent report from McKinsey & Company on private equity and healthcare showed that healthcare investments returned the highest global total returns to shareholders (15% between 2010 and 2015). The consumer staples category came closest to that return, with 13% in the same time period. Within the healthcare market,... Read More »

Omnicell Builds Out its Medication Synchronization Platform

by | Nov 29, 2016 7:16 pm | Other Services, Private Equity

People with chronic medical conditions typically take a lot of medications, and it’s not uncommon that many of them skip or forget to take some of their meds as prescribed. A 2011 survey released by the National Consumers League projected that the number of Americans affected by at least one chronic condition requiring medication therapy is expected to reach 157 million by 2020. Into the breach comes Omnicell, Inc. (NASDAQ: OMCL), which provides automation and business analytics software solutions for medication and supply management worldwide. The company announced its acquisition of privately held Ateb, Inc. and its affiliate, Ateb Canada Ltd. on November 29. The... Read More »