After a Two-Year Buying Spree, Bain Sells Majority Stake in Waystar
Almost two years ago, in September 2017, Bain Capital Private Equity acquired cloud-based revenue cycle management (RCM) company ZirMed for a reported $750 million and merged it with its own revenue cycle management company, Navicure. The combination formed Waystar, which integrated ZirMed’s business and clinical performance management solutions with Navicure’s own cloud-based RCM platform that focused on medical claims management, patient payment and data analytics solutions. Pedal to the Metal A year later, in September 2018, Waystar went on an acquisition spree. Its first target, Connance, provides predictive analytics solutions to more than 500 hospitals, thousands of... Read More »
Outpatient Rehab Platform Adds On
Another rehabilitation platform made an add-on acquisition. Lima, Ohio-based CORA Health Services, a portfolio company of Gryphon Investors, announced its acquisition of Orthopedic and Sports Therapy Institute (OSTI) in Rockford, Illinois. CORA has more than 100 clinics in Florida, Georgia, Michigan, North and South Carolina, Tennessee and Virginia. OSTI offers a wide variety of services, including general physical therapy and specialty programs in balance and fall prevention, golf therapy, oncology rehabilitation, pain management and more. Its clinics are located in Rockford, Belvidere, Marengo, Ogle County, Poplar Grove and Sauk Valley. Gryphon acquired CORA in June 2016. It made its... Read More »
Ante Up: Private Equity Firms Bet Big on Physician Medical Groups
In the first half of 2019, there were 72 physician medical group deals announced, and approximately 63% of those involved private equity firms as the buyer, according to our Deal Search Online database. And some were major deals too. Early in June, we reported that West Street Capital Partners VII, the private equity arm of Goldman Sachs (NYSE: GS), acquired Capital Vision Services LP for $2.7 billion from Altas Partners LP and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ). If Capital Vision Services LP doesn’t ring a bell, that’s because they operate under the trade name MyEyeDr. The target company employs approximately 560 optometrists and... Read More »
Is Laboratories, MRI and Dialysis on the Rise?
We call the Laboratories, MRI and Dialysis sector our grab-bag sector, and it seldom makes much noise. Diagnostic laboratories, radiology, and dialysis providers comprise this sector. Last year, there were only 48 deals announced, according to our Deal Search Online database, and the first quarter of 2019 reported only 11 deals, a 47% decrease from the same quarter in 2018. It hit a high of 56 deals in 2017. However, the sector seems to have picked up in the second quarter this year. The deal count caught up and we’re now at 24 deals, roughly equal to last year’s pace. But that’s not all. Last year, there was $1.68 billion in announced prices. This year we already have... Read More »
Healthcare Payment Firm Bought for $3.2 Billion
As the healthcare market evolves, so does the need to manage the payment flows between managed care companies, providers and patients. That rising demand surely played a role in UnitedHealth Group, Inc.’s (NYSE: UNH) acquisition of Equian LLC, an end-to-end healthcare payment firm. UnitedHealth paid approximately $3.2 billion, according to The Wall Street Journal, citing sources familiar with the matter. Equian manages over $500 billion in claims data annually through its platform, assisting clients by avoiding, identifying, pricing, analyzing clinical codes, and ultimately recovering inaccurate transactions in healthcare, workers compensation, and property and casualty markets. If... Read More »Schedule a demo
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