CVS Health Scores with $2.2 Billion in Q3 Profit Amid Layoffs and Acquisitions

CVS Health Scores with $2.2 Billion in Q3 Profit Amid Layoffs and Acquisitions

CVS Health (NYSE: CVS) released its Q3:23 operating results on Wednesday, November 1, 2023. The company reported net income of $2.2 billion, or $1.75 per share, thanks to double-digit percentage sales growth across all the company’s businesses and contributions from its new healthcare services acquisitions. This compares to the net loss of $3.4 billion, or $2.59 per share, announced in the same quarter last year when the company recorded $5 billion in opioid-related litigation charges. The giant drugstore chain has spent nearly $20 billion this year on acquisitions. First, the company added senior primary care centers via its acquisition of Oak Street Health for $10.6 billion in February.... Read More »
Resolian Acquires Denali Medpharma 

Resolian Acquires Denali Medpharma 

Resolian, a portfolio company of Ampersand Capital Partners, announced that it acquired Denali Medpharma.  Denali Medpharma is a Chinese bioanalytical contract research organization (CRO). It is well known as the industry leader in China in the bioanalysis of oligonucleotide drugs and mRNA vaccines, liposomal drug, ultra-sensitive assays for inhalation drugs and biomarker assays.  Resolian (formerly Alliance Pharma Inc. and Drug Development Solutions Ltd.) is a CRO that specializes in advanced bioanalytical research services for small and large molecule drugs. It also specializes in drug metabolism studies to support pharmaceutical and biotechnology companies’ drug... Read More »
Flagship Acquires MOB in Chapel Hill, North Carolina

Flagship Acquires MOB in Chapel Hill, North Carolina

Flagship Healthcare Properties announced that it has acquired a Class A, medical office building (MOB) in Chapel Hill, North Carolina through its private real estate investment fund, Flagship Healthcare Trust. The 20,878-square-foot MOB was originally built in 2003, and the building is anchored by Chapel Hill Pediatrics, Chapel Hill Pediatric Psychology and Chapel Hill Pediatric Dentistry. The property is located near the combined 1,048-bed Duke University Hospital and Duke Regional Hospital and 900-bed UNC Medical Center.  Flagship Healthcare Properties is an outpatient healthcare real estate firm serving clients in the southern United States. Headquartered in Charlotte, North... Read More »
Healthpeak Properties and Physicians Realty Trust Announce $21 Billion Merger

Healthpeak Properties and Physicians Realty Trust Announce $21 Billion Merger

Healthpeak Properties and Physicians Realty Trust announced on October 30 that they have entered into a definitive agreement to combine in an all-stock merger of equals valued at approximately $21 billion.  According to data captured in the LevinPro HC database, this transaction marks the second largest healthcare transaction of 2023 by purchase price, behind Pfizer’s $43 billion acquisition of Seagen Inc. announced in March.  Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. According to its 2022 financial... Read More »
Beckley Waves Acquires Nue Life

Beckley Waves Acquires Nue Life

Beckley Waves has announced the strategic acquisition of Nue Life, a leading ketamine-assisted therapy provider. Beckley Waves plans to continue Nue Life’s work to provide scalable access to ketamine-assisted therapy, with an emphasis on underserved areas.  Nue Life is a U.S.-based telemedicine startup that combines psychedelic-assisted therapies and a health-tracking app. Nue Life has provided at-home ketamine therapy to more than 10,000 patients across 23 U.S. states since 2021.  Beckley Waves, a U.K.-based venture studio co-founded by Amanda Feilding, builds and supports the companies and infrastructure needed for the delivery of new psychedelic medicines.  As part of the... Read More »
Northwest Georgia Medical Clinic Merges with Atrium Health Floyd

Northwest Georgia Medical Clinic Merges with Atrium Health Floyd

Atrium Health Floyd announced on October 23 its merger with Northwest Georgia Medical Clinic.  Founded in 1976, Northwest Georgia Medical Clinic offers obstetrical, gynecological and family medicine services from one location in Rome, Georgia. According to its website, the practice has 14 providers on staff.  Part of Advocate Health Care, which is the third-largest nonprofit health system in the United States, Atrium Health Floyd is a leading medical provider in northwest Georgia and northeast Alabama. Atrium Health Floyd employs more than 3,500 people who provide care across more than 40 medical specialties at three hospitals: Atrium Health Floyd Medical Center, Atrium Health... Read More »