Tenet Healthcare Sells Urgent Care Business
Tenet Healthcare Corporation (NYSE: THC) is having a busy holiday season. Early in December, the Texas-based health system purchased a portfolio of 45 ambulatory surgery centers (ASCs) from SurgCenter Development for $1.1 billion. Now, Tenet Healthcare is unloading a bulk of its urgent care platform in a deal valued at $80 million in order to focus on its ASC business. FastMed Urgent Care, backed by ABRY Partners and BlueMountain Capital Management, is buying Tenet’s platform, which is operated under the CareSpot and MedPost brands and managed by Tenet’s United Surgical Partners International subsidiary. The platform has 87 centers in Arizona and Texas. Tenet... Read More »
Tenet Healthcare Acquires 45 ASCs For More Than $1 Billion
Tenet Healthcare Corporation (NYSE: THC) has significantly expanded its ambulatory surgery platform with a new acquisition. The Texas-based health system has purchased a portfolio of 45 ambulatory surgery centers (ASCs) located in Arizona, Florida, Indiana, Louisiana, Maryland, New Hampshire, Ohio, Texas and Wisconsin from SurgCenter Development (SCD), which partners with local surgeons to create physician-owned and physician-operated ASCs. Tenet Healthcare will buy the majority interests by fully acquiring SCD’s interests, and partially acquiring interests from physician partners, for $1.1 billion in cash and the assumption of approximately $18 million of center-level debt. The ASCs will... Read More »
Cano Health Goes Public in Reverse Merger
Cano Health, LLC has been an active buyer in the healthcare space for the past few years, reporting a couple of deals in 2020 alone. Now the primary care operator is going public in a new reverse merger with Jaws Acquisition Corp. (NYSE: JWS), a special purpose acquisition company. The deal is valued at $4.4 billion. Cano Health is expected to generate $1.45 billion in revenues in 2021. The company operates primary care centers and supports affiliated medical practices in Florida, Texas, Nevada and Puerto Rico that specialize in value-based care for seniors. As part of its care coordination strategy, Cano Health provides high-touch population health management programs such as wellness... Read More »
Healthpeak Properties Acquires MOB and Life Science Portfolio
One of healthcare’s largest REITs is back with two new portfolio acquisitions. Healthpeak Properties, Inc. (NYSE: PEAK), which was formerly known as HCP, Inc., has been an active buyer and seller in the Long-Term Care sector over the past several years, according to search results in our Healthcare Deal Database, but now the REIT is investing in the medical office building (MOB) and life sciences market. Both of these deals were disclosed in the company’s third-quarter earnings report. First, Healthpeak purchased Cambridge Discovery Park, a 607,000 square foot Class-A life science campus in the West Cambridge submarket of Boston, for $664 million. The property has stabilized cash and GAAP... Read More »
Syneos Health Buys Leading CRO Synteract
Is the market for contract research organizations on the rise again? After a slow year for CRO transactions, the new deal by Syneos Health, Inc. (NASDAQ: SYNH) might signal a new turn in direction. Syneos Health, a fully-integrated biopharmaceutical solutions organization, announced last week it was acquiring Synteract Inc. from Amulet Capital Partners for $400 million. Synteract is a leading CRO that supports biotech and pharma companies across all phases of drug development. Synteract’s 700 employees across North America, Europe, Asia Pacific and Africa have supported more than 4,000 Phase 1-4 clinical trials across 26,000 sites in more than 60 countries. Amulet acquired Synteract in May... Read More »Schedule a demo
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