Rising Interest Rates, Banking Uncertainty Could Limit Capital Needed for Healthcare Real Estate M&A Activity
While healthcare real estate has proven to be an increasingly attractive investment in recent years, mergers and acquisitions deal volume in 2023 may fail to reach last year’s record. “We believe that overall volume will be healthy given the continued demand for healthcare real estate, but will be lower than previous years’ historic highs,” said Cornerstone Companies senior vice president of investments Ted Baker. His company’s holdings include approximately 55 medical office buildings and surgery centers with an aggregate value above $500 million. “My guess is that we see less of [the] larger trades and more single-asset deals [and] lower overall volumes,” Baker said. There were 120... Read More »
Ochsner Health Acquires Diamondhead Urgent Care
Ochsner Health announced it has acquired Diamondhead Urgent Care, an urgent care center in Diamondhead, Mississippi, giving the hospital system a bigger footprint in Hancock County. The existing employees and physicians will continue to provide healthcare at this facility, while additional staff will be added as the patient load increases. Terms of the deal were not disclosed. Ochsner Health is an integrated healthcare system that has more than 34,000 employees and more than 4,500 employed and affiliated physicians in more than 90 medical specialties and subspecialties. It operates 40 hospitals and more than 300 health and urgent care centers across Louisiana, Mississippi and the Gulf... Read More »
Hartford Healthcare Acquires Urgent Care Network in Connecticut
One of the major health systems in Connecticut has expanded its urgent care network. Partnering with Go-Health Urgent Care for the deal, Hartford Healthcare has purchased Branford, Connecticut-based Stony Creek Ventures LLC and its two urgent care facilities in Branford and Orange. Go-Health Urgent Care is an on-demand consumer-centric care platform that serves as the digital and physical front door to the healthcare ecosystem. It has locations in 14 states. In 2017, Hartford Healthcare and Go-Health Urgent created a joint-venture partnership to build an urgent care network in Connecticut. The partnership has nearly two dozen locations in Connecticut now, which will grow with the addition... Read More »
Next Level Urgent Care Acquires Three Humble, Texas Urgent Care Centers
Next Level Urgent Care has acquired three urgent care centers in Humble, Texas. The centers were previously owned by Northeast Urgent Care as part of the healthcare provider’s plan to double its locations by the end of 2022. Terms of the deal were not disclosed. Each urgent care center has been updated to provide treatment for chronic and acute illness, fractures, lacerations, contusions and other non-life-threatening injuries. Next Level Urgent Care provides walk-in care for non life-threatening illnesses and injuries such as sprains, strains, fractures, lacerations, allergies, rashes and congestion issues. The company has locations in Austin (7 locations), Beaumont (2 locations), Houston... Read More »