Sentara Health Becomes Sole Owner of Velocity Urgent Care

Sentara Health Becomes Sole Owner of Velocity Urgent Care

Sentara Health has become the sole owner of Velocity Urgent Care. In conjunction with a third party, Sentara has been working in partnership with Velocity Urgent Care since December 2017 when Sentara transferred operations of seven Sentara Urgent Care facilities in the Hampton Roads area to the Velocity joint venture.   Velocity Urgent Care is a Virginia-based urgent care clinic providing extended hours care for illnesses, injuries, aches and pains. Velocity is comprised of 17 urgent care locations across Virginia with nearly 200 employees. It has plans to open a new location in early 2024 in Elizabeth City, North Carolina.   Sentara Health is a not-for-profit healthcare organization... Read More »
Transitioning to Value-Based Care: Financial Implications for Providers and Policymakers 

Transitioning to Value-Based Care: Financial Implications for Providers and Policymakers 

Berkeley Research Group, LLC (BRG), a global consulting firm, released a report that details the costs of value-based care (VBC). The report, called “Transitioning to Value-Based Care: Financial Implications for Providers and Policymakers,” was released November 15, 2023 and was prepared by Managing Director John Barkett.   The idea behind VBC is straightforward: “hold providers accountable for the total cost and quality of their patients’ care, and providers will redesign their practices in ways that eliminate waste and improve the health of their patients.”  While the idea is fairly simple, there are, of course, snags and financial aspects to consider. In the report,... Read More »
HCA Houston Healthcare Acquires 11 SignatureCare Emergency Centers

HCA Houston Healthcare Acquires 11 SignatureCare Emergency Centers

HCA Houston Healthcare announced that it acquired 11 emergency centers from SignatureCare Emergency Centers for an undisclosed price. SignatureCare Emergency Centers, is a network of emergency care centers across Texas.   The emergency care centers are located in Atascocita, Bellaire, Copperfield, Cypress, Memorial City, Mission Bend, Montrose, Spring, Stafford, Heights and Westchase, Texas. The centers are open 24/7 and provide care for the full continuum of emergency care.  HCA Houston Healthcare is part of HCA Healthcare’s Gulf Coast Division, a comprehensive network of hospitals, outpatient surgery centers, emergency centers and diagnostic imaging facilities in... Read More »
Private Equity Interest in Pain Management ‘Starting to Heat Up’

Private Equity Interest in Pain Management ‘Starting to Heat Up’

More than 20% of American adults suffer from chronic pain, and research from the National Institutes of Health shows that only about 1 in 10 people experience a full recovery within a year. Numbers like these indicate a strong need for improved pain management services – and after years of wariness, many in the private equity community are now showing interest. “It’s a smaller niche market that was, to some extent, overlooked by private equity given its perceived risk in the context of the opioid crisis,” says Eric Major, a Managing Director at Provident Healthcare Partners. But now, he says interest is “starting to heat up.”  One possible reason is a growing emphasis on... Read More »
Medray Acquires Avista Medical 

Medray Acquires Avista Medical 

Medray, based in Dublin, Ireland, announced its acquisition of Avista Medical. According to data captured in the LevinPro HC database, this transaction represents the 34th healthcare product distributor transaction of 2023.  Founded in 2004, Avista supplies medical imaging equipment and support services to radiology departments in hospitals. It is a support specialist for Canon Medical Systems, the global manufacturer of CT, MRI, X-Ray and Ultrasound diagnostic imaging equipment in Ireland.  Medray supplies healthcare equipment to radiology, dental, veterinary and associated sectors across Ireland and the United Kingdom. The company was founded in 1979 and was bought by private... Read More »
Ampersand Capital Partners invests in Julius Clinical Research 

Ampersand Capital Partners invests in Julius Clinical Research 

Ampersand Capital Partners, based in Wellesley, Massachusetts, announced its acquisition of Julius Clinical Research. According to data captured in the LevinPro HC database, this acquisition is the 40th contract research organization (CRO) transaction of the year.   Based in the Netherlands, Julius Clinical Research is a leading academic clinical CRO that provides clinical trial services and real-world evidence studies to biopharma sponsors.  Founded in 1988, Ampersand is a middle-market private equity firm with more than $3 billion of assets under management dedicated to investments in the healthcare sector.  This transaction will allow Julius Clinical Research to expand... Read More »