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Tenet Healthcare Acquires 45 ASCs For More Than $1 Billion

Tenet Healthcare Acquires 45 ASCs For More Than $1 Billion

by | Dec 14, 2020 11:09 am | Hospitals, Other Services

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 Goes Public in Reverse Merger

by | Nov 17, 2020 8:31 am | Other Services, SPAC

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

Healthpeak Properties Acquires MOB and Life Science Portfolio

by | Nov 17, 2020 8:29 am | Medical Office Buildings, Other Services

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

Syneos Health Buys Leading CRO Synteract

by | Nov 2, 2020 5:08 pm | CRO, Other Services

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 »
Adare Pharmaceuticals Sold to Two Private Equity Firms

Adare Pharmaceuticals Sold to Two Private Equity Firms

by | Sep 29, 2020 8:19 am | Other Services

Two private equity firms, Thomas H. Lee Partners and Frazier Healthcare Partners, are teaming up to acquire a leading specialty contract development and manufacturing organization (CDMO). The firms are buying Adare Pharmaceuticals. a global provider of advanced pharmaceutical technologies, development and manufacturing. The company utilizes its differentiated pharmaceutical technology and microbiome scientific platforms to develop novel, improved medicines and therapies for the global market. Adare has developed and manufactured more than 40 products sold by partners in more than 100 countries globally including Lacteol, Zoolac, Viactiv, and a number of branded and complex generic... Read More »
Cano Health Goes Public in Reverse Merger

KKR Buys 1-800-Contacts in Multibillion-Dollar Deal

by | Sep 29, 2020 8:17 am | Other Services, Private Equity

The private equity giant KKR (NYSE: KKR) has swooped in to buy 1-800-Contacts, a name we might all recognize from its catchy commercials. In case you don’t know, 1-800 Contacts is the largest seller of contact lenses in the U.S., serving more than 20 million customers for the last 25 years. The growing portfolio of innovative 1-800 Contacts brands includes Liingo Eyewear, 6over6, Boomerang, and Premium Vision. KKR is buying the company from AEA Investors for approximately $3.1 billion, according to sources cited in a report in PE Hub. AEA Investors has been the majority shareholder of 1-800 Contacts since 2015 when it purchased the company from Thomas H. Lee Partners, L.P. AEA... Read More »