Retina Consultants of America Moves into South Carolina
Retina Consultants of America, a portfolio company of Webster Equity Partners, is wasting no time to expand. The physician group was just formed this past March through the merger of Retina Consultants of Houston, Retina Group of Florida, Long Island Vitreoretinal Consultants, California Retina Consultants and Retinal Consultants Serving Northern California in a deal valued at $350 million. Combined, the practices generated EBITDA of roughly $80 million. Now, Retina Consultants of America has added Palmetto Retina Center, LLC (PRC), which was founded in 2001 and serves central South Carolina. Its physicians offer comprehensive care in the treatment of vitreous and retinal diseases. PRC is... Read More »
Qscan Group Holdings Sold to Investment Group
Sydney, Australia-based Quadrant Private Equity is selling Qscan Group Holdings, a comprehensive diagnostic medical imaging and interventional practice with multiple clinics in South-East Queensland and additional clinics throughout Australia. The buyers are Infratil Limited, a New Zealand investment firm focused on a variety of industries, including renewable energy and social infrastructure, and Morrison & Co Growth Infrastructure Fund, a leading alternative asset manager. Infratil is acquiring a 60% stake in Qscan for AUD $330 million, and Morrison & Co will acquire an additional 15% for AUD $82.5 million. The price comes out to around U.S. $294 million. Qscan Group is expected... Read More » Anne Arundel Dermatology Under New Ownership
Anne Arundel Dermatology Management (ADM) has been an active buyer in the healthcare M&A space for the past few years. Backed by private equity firm New MainStream Capital (NMS), the physician practice group has announced 10 acquisitions since January 2018, according to search results in our HealthCareMandA.com Deal Database. The pair announced several additions in 2019 alone. Anne Arundel Dermatology provides dermatological services in Maryland, Virginia, Tennessee, North Carolina and Pennsylvania. The practice has 74 locations and 181 providers and offers a comprehensive suite of dermatologic services, offering general... Read More »
Paladina Health Acquires Primary Care Provider HealthStat
Paladina Health embarked on a big expansion last week. The company acquired Healthstat, a leading provider of onsite and virtual primary care, health-risk intervention, chronic care management and occupational medicine in employer facilities. Paladina Health provides direct primary care services to employers and individuals. It is a portfolio company of New Enterprise Associates and is also backed by Oak HC/FT, Alta Partners and Greenspring Associates. DaVita Inc. (NYSE: DVA) sold Paladina Health to New Enterprise Associates in June 2018 for an estimated $100 million, according to reporting from CNBC. The Heathstat acquisition will add more than 230 clinics in 13 additional states,... Read More »
MEDNAX Divests Radiology Division to PE-Backed Firm
MEDNAX, Inc. (NYSE: MD) announced its second major sale of 2020 last week. After divesting its anesthesiology group, American Anesthesiology, Inc., to North American Partners in Anesthesia for $50 million in May, the physician-led health care organization has decided to sell MEDNAX Radiology Solutions as well. Radiology Partners Inc. (RP), a portfolio company of New Enterprise Associates, is buying the subsidiary for $885 million. MEDNAX Radiology Solutions consists of more than 300 onsite radiologists who primarily serve patients in Connecticut, Florida, Nevada, Tennessee and Texas, and more than 500 teleradiologists, who serve patients in all 50 states. Its physicians interpret... Read More »