Heartland Dental Acquires Capstone Dental 

Heartland Dental Acquires Capstone Dental 

On January 11 Heartland Dental, backed by private equity firm KKR, announced that it made its first acquisition of the year with the purchase of Capstone Dental. The financial terms were not disclosed.  Capstone Dental is run by Dr. Steven Yang, the only physician on staff. Dr. Yang operates out of one location in Charlotte, North Carolina.  Heartland Dental is a dental support organization providing non-clinical, administrative support services with more than 2,600 doctors in more than 1,650 locations across 38 states.   According to data captured in the LevinPro HC database, this transaction represents the 20th Physician Medical Groups acquisition of the year, and the... Read More »
Florida Eye Specialists Acquires International Eye Associates 

Florida Eye Specialists Acquires International Eye Associates 

Florida Eye Specialists, based in Jacksonville, Florida, announced that it acquired Florida Eye Specialists for an undisclosed price.  International Eye Associates is a premier eye care practice operating in Ormond Beach, Florida. According to its website, the practice is run by two physicians: Dr. Samantha Habhab and Dr. Kenzo Koike.  Florida Eye Specialists is one of the largest multi-specialty practices in northeast Florida, with services ranging from simple eye exams to complex surgeries. The practice is the result of a 2014 merger between Chokshi Vision Center and Eagle Eyecare.  With this transaction, International Eye Associates and its team will join the Florida Eye... Read More »
Florida Eye Specialists Acquires International Eye Associates 

Surgery Partners Acquires Key-Whitman Eye Center 

Cain Brothers, a division of KeyBanc Capital Markets, announced that it acted as an advisor to Key-Whitman Eye Center in its acquisition by Surgery Partners. The financial terms of the deal were not disclosed.  Key-Whitman Eye Center provides eye care out of nine locations in Texas. According to its website, it has 22 providers on staff.  Surgery Partners is a leading operator of surgical facilities and ancillary services with more than 180 locations nationwide. It is backed by Bain Capital and has more than 180 locations in 32 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities.  According to data... Read More »
Active Physician Medical Group Buyers in 2023

Active Physician Medical Group Buyers in 2023

Even though the Physician Medical Group (PMG) market is a busy sector, the last several quarters have seen less deal activity than previous quarters. In 2023, 519 PMG acquisitions were reported, which is 16% less than the 620 PMG deals announced in 2022. Throughout the year, we spoke to several experts who have weighed in on why activity in the PMG space is slowing down. Their input can be summarized as high interest rates, increasing labor costs and a consolidated market. Yet, while there was a decrease in reported transactions, there were still several buyers and their deal activity that are worth looking into. Here are five of the most active PMG acquirers in 2023. The most active PMG... Read More »
Schweiger Dermatology Group Acquires United Skin Specialists 

Schweiger Dermatology Group Acquires United Skin Specialists 

Brown Gibbons Lang & Company announced that it acted as an advisor to Schweiger Dermatology Group (SDG) in the acquisition of United Skin Specialists LLC. Tonka Bay Equity Partners LLC, a venture capital and private equity firm based in Minnetonka, Minnesota, was the seller.  United Skin Specialists is a healthcare practice management group providing services to dermatology offices in the Midwest. The company has been providing patient-centric medical and cosmetic dermatology care in Illinois, Minnesota and Missouri for more than 50 years. It has 10 office locations.  Founded in 2010, SDG is one of the largest group dermatology practices in the Northeast, with 110 offices and... Read More »
Albaron Partners Sells Beyond Podiatry 

Albaron Partners Sells Beyond Podiatry 

On January 9 it was announced that Albaron Partners LP, a middle market private equity firm, was selling Albaron Podiatry Holdings LLC d/b/a Beyond Podiatry to CUC, Inc. The transaction was valued at $87 million.  Beyond Podiatry is one of the largest podiatry practice management organizations in the Midwest. In 2022 and 2023, the company purchased one practice each year.   CUC is a publicly traded Japanese company that offers healthcare services in Asia and across the globe. It provides hospital care, dialysis care, visiting nurses and home hospices services, as well as management support services for healthcare institutions.  This is the first U.S. acquisition for CUC.... Read More »