PE Firms Exit North American Dental Group
Abry Partners and The Riverside Company are selling North American Dental Group (NADG), concluding a four-year investment in the dental service organization (DSO). NADG operates in the United States, and its network includes more than 200 dental practices in 11 states and 23 regional markets. The buyer is Jacobs Holding AG, a global professional investment group that supports the Jacobs Foundation, one of the world’s leading charitable foundations. No financial terms were disclosed. Jacobs Holding is no stranger to the dental market. The company already owns Colosseum Dental Group, a dental care provider, and the addition of NADG will create the first transatlantic dental group. NADG and... Read More »
Managed Care Company GoHealth Acquired by Centerbridge Partners
Medicare Advantage programs and ancillaries are bringing in big bucks and new buyers. On August 19, Centerbridge Partners, L.P. announced its acquisition of GoHealth, LLC for a reported $1.4 billion from Norwest Equity Partners, the second-largest managed care deal in 2019, so far. The company is a leading provider of Medical Advantage products in the direct-to-consumer channel. Its platform combines technology, data science, and proprietary algorithms to match consumers with the best healthcare policy and carriers in the Medicare, Individual & Family and Small Group markets. Centerbridge and GoHealth broke off negotiations earlier in August over price, according to reports in... Read More »
Healthcare Staffing Firms in Steady Demand
As healthcare companies and providers across the industry wrestle with staffing shortages and retention, staffing firms are looking to fill some of the gaps, thus driving M&A activity. According to our Deal Search Online database, there have been nine acquisitions focused on healthcare staffing firms so far this year, and that number will most likely grow. If a price had been disclosed, Medical Solutions’ takeover of C&A Industries, Inc. this month would surely be among the largest deals in this segment. Medical Solutions, a portfolio company of TPG Growth, specializes in placing registered nurses in temporary travel assignments throughout the country. The... Read More »
Robotics Firm Acquired by Siemens Healthineers
After a nearly two-year hiatus, the diagnostic and therapeutic imaging giant Siemens Healthineers AG (XETRA: SHL.DE) has agreed to purchase Corindus Vascular Robotics, Inc. (NYSE: CVRS) for $1.1 billion, at a price of $4.28 per share. Corindus is a global leader in robotic-assisted vascular interventions. Its CorPath platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. On a trailing 12-month basis, Cordindus reported approximately $12.3 million in revenue. Siemens plans to combine its high-quality imaging, digital and artificial intelligence tools with Corindus’ precision robotics platform to improve treatment for... Read More »
CROs and CDMOs are Still Selling Fast
This past week Permira, a global investment firm based in the United Kingdom, spent $2.4 billion for Cambrex Corporation (NYSE: CBM). Cambrex is a premier contract development and manufacturing organization (CDMO) in the small molecule space and provides drug substance, drug product and analytical services across the entire drug lifecycle. The $2.4 billion purchase price includes the company’s net debt, for 4.2x revenue and 16.3x EBITDA, represents a 47.1% premium to Cambrex’s closing price of $40.78 on August 6. The target reported a number of its own acquisitions recently, making the CDMO a more attractive buy. Cambrex acquired Halo Pharma in 2018 and Avista Pharma Solutions... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
