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Cano Health Acquires Doctor’s Medical Center
After acquiring University Health Care in mid-June for $600 million, Cano Health (NYSE: CANO) has already struck another deal. Cano Health announced last week it is acquiring Doctor’s Medical Center (DMC), which provides integrated, innovative care to Medicare, Medicaid and ACA members in South Florida. Founded in 1996, it has grown to 18 medical centers located in Miami-Dade and Broward counties. The deal is valued at $300 million cash, and concurrent with the acquisition, Cano Health borrowed $250 million through an unsecured debt facility. DMC is expected to generate $194 million in revenue and $22 million in EBITDA in 2021. The combination with DMC increases Cano Health’s... Read More »
Parexel Sold in $8.5 Billion Deal
It looks like contract research organizations are still in high demand. EQT Private Equity and Goldman Sachs Asset Management Private Equity are teaming up to acquire Parexel from Pamplona Capital Management for $8.5 billion. Parexel is a leading global clinical research organization (CRO) serving sciences and biopharmaceutical clients. EQT is a purpose-driven global investment organization with more than $79 billion in assets under management across 26 active funds. Goldman Sachs Asset Management Private Equity is the primary investing area within Goldman Sachs, overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. This investment into Parexel will... Read More »
CD Health Infrastructure Partners Hits the Ground Running
CD Health Infrastructure Partners is capitalizing on the aging population in Northern Phoenix. The vertically integrated real asset investment firm acquired one medical office building, primarily leased out to Banner Health, in Paradise Valley, Arizona. Banner currently has the largest healthcare system in Arizona with over 50,000 employees. The medical office building has approximately 13,800 square feet, but the price for the facility was not disclosed. The Northern Phoenix area benefits from high population density and rapidly growing aging demographics. In particular, the population of age 75 and older within a 15-minute drive time is expected to grow at 5.8% per year from 2020 to... Read More »
Cano Health Buys Florida Primary Care Operator University Health Care
The primary care operator Cano Health (NYSE: CANO) has had a busy year. The company just went public back in November 2020 in a $4.4 billion reverse merger with Jaws Acquisition Corp, a special purpose acquisition company. And now it is back with a new deal valued at more than half a billion dollars. Cano Health announced it was buying University Health Care and its affiliates, which provide comprehensive primary care to communities in South Florida. The company serves approximately 24,000 Medicare Advantage members. The deal is valued at $600 million, or $540 million in cash and $60 million in equity. University Health Care is expected to generate $355 million in revenue this year and... Read More »
WELL Health Buys MyHealth Partners
It’s been a busy year for WELL Health Technologies Corp. (TSX.V: WELL). In early February, the company announced the acquisition of CRH Medical Corporation (NYSE: CRHM), which provides physicians with innovative services and products for the treatment of gastrointestinal diseases, for $292.7 million. Following that, in March the company purchased Intrahealth, a Vancouver-based healthcare software company, for a modest $12.16 million. Now, WELL Health is adding MyHealth Partners Inc. to its growing portfolio of companies. MyHealth Partners provides specialty care, telehealth services and accredited diagnostic health services provider that owns and operates 48 locations across Ontario.... Read More »Schedule a demo
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