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MB2 Dental Solutions Finds a New Partner
After Sentinel Capital Partners took a majority interest in MB2 Dental Solutions (MB2), the dental services organization became a prolific buyer in the healthcare M&A market, building a national network of practices. The organization has a presence in 24 states and has partnered with more than 275 dental practices. In 2019, MB2 had an estimated revenue of $320 million. Now that partnership has ended. Sentinel Capital Partners is exiting its investment and Charlesbank Capital Partners will become the new majority owner. Charlesbank Capital Partners is a middle-market private investment firm managing more than $7 billion of capital. Charlesbank focuses on management-led buyouts and... Read More »
Ophthalmology Groups Are Still Hot Targets
It’s been an incredibly busy January, and deal volume continues to pile up. Investor interest in physician groups has swelled in particular, as we reach 36 deals and counting. The hottest specialty so far has been for ophthalmology practices, which have accounted for seven deals so far this month. It’s a trend that has spilled over from 2020, when ophthalmology deals accounted for 22% of the 189 Physician Medical Group transactions announced last year. As other specialties, such as dental practices and dermatology groups, were hit hard by the pandemic, demand for cataract surgery and the ability to conduct eye exams and other routine care via telehealth grew, resulting in increasing... Read More »
Gainwell Technologies Acquires HMS
Gainwell Technologies, a portfolio company of Veritas Capital, has announced it acquired HMS (NASDAQ: HMSY). HMS provides a broad range of payment accuracy and population health management solutions, as well as analytics and engagement solutions. Under the terms of the agreement, Gainwell will buy HMS for $3.4 billion, or $37 per share in cash, a 52% premium to HMS’ unaffected share price as of October 2, 2020, the last trading day prior to when reports of a possible transaction were published. The purchase price comes out to 5.13x HMS’ 2020 annualized revenue and 22.60x HMS’ annualized EBITDA. Gainwell Technologies supports clients across the United States and territories with offerings... Read More »
EyeSouth Partners Adds Another Texas Physician Group
The private equity-backed EyeSouth Partners is closing 2020 on a strong note. With the support of Shore Capital Partners, EyeSouth Partners added Eye Center of Texas (ECT), which employs 14 physicians across six primary clinical locations in the greater Houston area and provides an integrated service model incorporating the latest advancements in cataract surgery, retina management, glaucoma treatment, refractive surgery and routine eye exams. EyeSouth Partners is an eye care services organization in the southeast. Its affiliate network consists of 114 doctors providing medical and surgical eye care services at approximately 70 locations, including 11 surgery centers, in Alabama, Florida,... Read More »
Physical Rehabilitation Network Expands in California
It’s been a quiet year for the rehabilitation sector in terms of healthcare M&A, most likely due to the social distancing safety measures implemented because of COVID-19 and the new reimbursement model put in place on October 1, 2019. But last week, Physical Rehabilitation Network, LLC announced a new transaction in California. PRN, a portfolio company of Silver Oak Services Partners, added Morgan Hill Physical Therapy, Inc., a Northern California-based outpatient rehabilitative care group that provides physical and occupational therapy, functional integrative therapy, work injury rehabilitation and sports medicine and complimentary injury consultations. With the addition of Morgan... Read More »Schedule a demo
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