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Navvis and Esse Health Merge To Form Surround Care
Navvis and Esse Health, two leaders in population health and value-based care, announced on October 20 that they would merge and form a new healthcare company called Surround Care. The combination is set to close on October 31, 2022. Financial terms of the deal were not disclosed. Surround Care, the new parent company of Navvis and Esse Health, projects revenues of $663.5 million in 2022 and has 1,200 employees, over 4 million attributed patients being served, 4,600 affiliated physicians and operations in nine states. Esse Health is an independent physician group that strives to improve the overall well-being of its patients through patient education, lifestyle modification and prevention.... Read More »
Agora Realty & Management Acquires Tarzana, California Medical Office Building for $30 Million
Calabasas, California-based Agora Realty & Management acquired a 75,000-square-foot medical office building in Tarzana, California, for $30 million. The three-story Tarzana Medical Plaza is 90% occupied with tenants that include Providence Healthcare Systems, Cedars-Sinai Medical Care and Unilab Corp. Interior and exterior changes will be made at the property. The interior renovation will include upgraded elevators, modern corridor finishes, lighting upgrades and expanded and renovated lobby areas. Solar panels will be added. Agora’s portfolio encompasses more than 2 million square feet of retail space in the western U.S. with several new, ground-up developments in various phases of... Read More »
Montecito Medical Acquires Uniontown, PA MOB
On October 14, Montecito Medical Real Estate announced that it acquired a medical office building (MOB) in Uniontown, Pennsylvania. The financial terms of the acquisition were not disclosed. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. The building consists of 17,865 square feet and is fully occupied under long-term lease agreements by two medical tenants: U.S. Digestive Health and Southwestern Endoscopy Center. The Uniontown acquisition continues Montecito’s expansion in Pennsylvania, where the company has acquired five... Read More »
Burke Porter Group Acquires D&K Engineering
Burke Porter Group (BPG) announced on October 14 that it acquired San Diego, California-based D&K Engineering (D&K). According to the LevinPro HC database, this marks the 26th contract development manufacturing organization (CDMO) acquisition of the year. Founded in 1953, BPG is a global supplier of automated diagnostic, testing and production solutions serving life science and specialty industrial end markets. BPG focuses on automating high-precision processes, leveraging its capabilities in microfluidics, optical design, additive manufacturing, motion control and software. D&K Engineering is an end-to-end product design and contract manufacturing services provider supporting... Read More »
GFH Financial Group Grabs Another Medical Office Building Portfolio
GFH Financial Group, a Bahrain-based investment firm, has purchased a portfolio of 11 medical office buildings for $400 million. The assets are spread across California, Texas, Maryland and Louisiana and have a total of 1 million square feet. The price breaks out to approximately $400 per square foot. This portfolio’s properties are anchored by Baylor Scott & White, Texas A&M Health Science Center, Texas Tech University, Memorial Hermann and Tidal Health. GFH said in its release announcing the deal that the portfolio has been performing well, “with 99% rent collection during the COVID-19 pandemic.” The assets also house different specialty providers, positioning them for... Read More »Schedule a demo
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