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Walgreens Has Finally Been Sold
After months of rumors and speculation, Walgreens has finally announced it is being sold for nearly $10 billion in cash, or approximately $17 billion if we include debt. Although many already know Walgreens as a retail giant, it has been making a significant push into the healthcare market for the past years, but that plan has backfired. According to its annual report for fiscal year 2024, the company reported an operating loss of $14.1 billion (yes, billion), largely due to the loss in value of VillageMD, its primary care subsidiary and the principal vehicle for its healthcare initiative. Walgreens’ healthcare strategy was on display in the M&A market; in addition to the company’s... Read More »
Montecito Medical Buys Three MOBs in Georgia
Montecito Medical Real Estate announced that it has acquired three medical office buildings in Georgia for an undisclosed price. The sale includes three medical outpatient buildings (MOBs) in the Atlanta MSA occupied by Aylo Health. The properties— in Ball Ground, Woodstock and Dawsonville, Georgia respectively—comprise a total of 52,726 square feet. Aylo Health is a dominant, multi-specialty physician group with 61 physicians across 14 locations in the Atlanta area. The group focuses on primary care and pediatrics, with imaging and sleep medicine. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving... Read More »
CareFirst Urgent Care Expands Presence in Kentucky With Acquisition
CareFirst Urgent Care has announced the acquisition of Rapid Relief Urgent Care, adding three new locations to its network. Rapid Relief Urgent Care operates three urgent care centers in Kentucky. Two urgent care centers are located in Bowling Green, and one in Elizabethtown. Founded in 2011 by Chetan Gupta, M.D., CareFirst Urgent Care is a provider of walk-in urgent care services, offering accessible healthcare to communities across multiple states, including Ohio, Kentucky and Nevada. With a focus on patient-centered care, CareFirst is committed to providing timely medical attention for a variety of non-emergency conditions. From common illness and injury like colds and fractures, to... Read More »
Healthcare Real Estate M&A in 2024: Trends, Challenges and Regional Insights
As the healthcare sector continues to adapt to evolving needs, real estate mergers and acquisitions (M&A) have become pivotal in shaping the landscape of healthcare delivery. The healthcare real estate (HCRE) sector includes medical outpatient buildings (MOBs), ambulatory surgery centers (ASCs), life sciences buildings and other general healthcare real estate subsectors. According to data captured in the LevinPro HC database, there were 263 HCRE deals announced in the United States during 2024. Activity in 2024 represents a significant increase from 234 deals in 2023, and shows a clear upward trend from the 236 in 2022, 184 in 2021, 90 in 2020, 34 in 2019 and only 11 in 2018. This... Read More »
DOGE Finds $2.7 Trillion in Improper Payments: Healthcare’s Wake-Up Call
The Department of Government Efficiency (DOGE) revealed during a DOGE subcommittee hearing on February 12 that since 2003, the U.S. government has issued $2.7 trillion in improper payments across various federal agencies, including Medicare and Medicaid. While a precise breakdown for these programs was not provided, Medicare and Medicaid have consistently been a source of improper payments among federal programs, raising concerns about the long-term security of federal healthcare spending. In 2023 alone, the Department of Health and Human Services (HHS) reported approximately $100 billion in improper payments tied to Medicare and Medicaid. A critical area of concern lies within the durable... Read More »Schedule a demo
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