PharmaLegacy Acquires Preclinical CRO BTS Research
PharmaLegacy Laboratories announced on September 16 that it acquired BTS Research, a San Diego, California-based contract research organization (CRO). BTS Research (formerly BioTox Sciences) delivers GLP and Non-GLP biological services to clients in pharmaceutical, biopharmaceutical, biotech, academic research, medical device and related industries. The CRO was founded in 2007 and acquired Bio-Quant in 2011. PharmaLegacy Laboratories is a CRO founded in 2008 which provides efficient and cost-effective preclinical in vitro and in vivo pharmacology studies to life science organizations. PharmaLegacy boasts a thousand of validated in vitro and in vivo services across more than 40 different... Read More »
Elliott Bay Capital Trust and Pantheon Ventures Acquire Illinois MOB for $18.7 Million
On September 11, JLL Capital Markets announced that it brokered the sale of a medical outpatient building (MOB) in Vernon Hills, Illinois, a suburb of Chicago. The MOB, Hawthorne Commons, was completed in 2016 and is 88% leased to eight tenants and is anchored by Northwestern Medicine. The price was roughly $382 per square foot. The acquisition was completed through a joint venture between Elliott Bay Capital Trust and Pantheon Ventures. Elliott Bay Capital Trust is a privately held real estate investment company that focuses on essential healthcare properties. The company acquires, develops and manages healthcare properties that are net leased to health... Read More »
Rite Aid Emerges From Chapter 11 Bankruptcy as Private Company
The prominent U.S. pharmacy chain Rite Aid announced on Wednesday, September 4 that it has successfully completed its financial restructuring and is emerging from bankruptcy as a private company. The Philadelphia-headquartered company, which filed for bankruptcy protection in October 2023, has used the process to close underperforming stores, reduce its debt load by approximately $2 billion and secure $2.5 billion in exit financing to support its business moving forward. “Emergence is a pivotal moment in Rite Aid’s history, enabling it to move forward as a significantly transformed, stronger, and more efficient company,” said CEO and Chief Restructuring Officer Jeffrey... Read More »
HREA Advises on ASC and MOB Transaction
On August 31, HREA – Healthcare Real Estate Advisors announced the sale of an outpatient ambulatory surgery center (ASC) and medical outpatient building (MOB). The ASC is based in Vestavia, Alabama and the MOB is in Montgomery, Alabama. Both the MOB and ASC are 100% leased by Surgical Dermatology Group (SDG). In 2023, SDG partnered with AQUA Dermatology, one of the largest full-service skincare providers in the Southeast, with more than 100 locations and 200 providers to meet the demand of the rapidly expanding healthcare market. AQUA Dermatology is backed by Gryphon Investors and GTCR, two leading middle-market private equity firms with a combined $33 billion of assets... Read More »
ATL Technology Picks Up Complex Catheter Specialist MDCM Solutions
Springville, Utah-based ATL Technology has announced its acquisition of MDCM Solutions. According to data captured in the LevinPro HC database, this transaction represents the 21st contract development and manufacturing organization (CDMO) transaction of 2024. There were 21 CDMO deals announced during 2023, and 38 announced during 2022. MDCM Solutions is a medical device contract manufacturing company based in Maple Grove, Minnesota. The company specializes in complex catheter technologies used to manufacture minimally invasive medical devices. ATL Technology is a global leader in medical device CDMO services. The company offers custom disposable medical cables and devices, custom medical... Read More »Schedule a demo
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