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PE Firms Trade WIRB-Copernicus for $3 Billion

PE Firms Trade WIRB-Copernicus for $3 Billion

by | Nov 15, 2019 4:23 pm | CRO, Other Services, Private Equity

Leonard Green & Partners, L.P won the auction to acquire WIRB-Copernicus Group (WCG) from Arsenal Capital Partners for $3 billion. The purchase value was originally reported in PE Hub Buyouts. WCG is a clinical services organization that enables biopharmaceutical companies, contract research organizations and institutions to accelerate the delivery of new treatments and therapies to patients. Arsenal will retain a stake in WCG. It acquired the company in March 2012 and led its recapitalization in August 2016 alongside other investors, including MSD Partners, the family office of Michael Dell. WCG has an estimated EBITDA of $175 million for 2019. WCG has been relatively quiet on the... Read More »
Doc Group Deals Take Health Care in New Directions

Doc Group Deals Take Health Care in New Directions

by | Nov 10, 2019 10:48 am | Physician Medical Groups, Private Equity

With more than 180 deals announced so far in 2019, the Physician Medical Group sector is roaring toward another strong close. The usual specialties—dental, dermatology and ophthalmology—are still very active, but after 10 to 20 years of consolidation, their trajectories are flattening. Other specialties are gaining traction with private equity investors, particularly orthopedics, gastrointestinal (GI), urology, pain management and women’s health. Even ear, nose & throat (ENT) deals are picking up. We spoke with a few deal makers to find out where this sector stands at the end of 2019 and what’s ahead for M&A in 2020. The hot areas this year have been surgical subspecialties,... Read More »
LHC Group and LifePoint Health JV Strike Again

LHC Group and LifePoint Health JV Strike Again

by | Nov 10, 2019 10:33 am | Home Health & Hospice, Private Equity

After a quiet year on the acquisition front, LHC Group (NASDAQ: LHCG) and LifePoint Health have expanded their joint venture (JV) into three new states. The purchase includes CMH Home Health Care in Wilmington, Ohio, Casa de la Paz Hospice in Sierra Vista, Arizona, and St. Joseph Family Hospice in Lewiston, Idaho. LHC Group will assume management responsibility for the agencies, which will continue to operate from their current locations and under the same names. LHC expects approximately $3.6 million in annualized revenue from this expansion and anticipates that it will not materially affect its 2019 diluted earnings per share. LHC Group and LifePoint Health formed the partnership to... Read More »
CROs Are Still Trending as Q4 Rolls On

CROs Are Still Trending as Q4 Rolls On

by | Nov 10, 2019 10:26 am | CRO, Other Services, Private Equity

In the first week of November, BioAgilytix Labs, LLC, a portfolio company of Riverside Partners, purchased Cambridge Biomedical. Both Cambridge and BioAgilytix are contract research organizations (CROs) that develop novel therapeutic biologics and biosimilars, specializing in large molecule bioanalysis. The transaction expands BioAgilytix’s global footprint and adds further capacity by joining Cambridge Biomedical’s CLIA-certified, CAP-accredited, and GLP-compliant facility with its GxP laboratories in Durham, North Carolina and Hamburg, Germany. It also gives BioAgilytix a total of 400 employees. The merger follows a busy October for CROs, in which five deals were reported, accounting for... Read More »
DentalOne Partners Sold to PE-Backed Group

DentalOne Partners Sold to PE-Backed Group

by | Nov 4, 2019 12:53 pm | Physician Medical Groups, Private Equity

Mid-Atlantic Dental Partners, a portfolio company of S.C. Goldman & Company, LLC, recently announced it acquired DentalOne Partners from Dental Investments, LLC. DentalOne is one of the largest dental service organizations (DSOs) nationally with approximately 150 affiliated offices across 13 states and 27 markets. This acquisition increases Mid-Atlantic Dental Partners affiliated offices to more than 240 operating in 18 states. Mid-Atlantic and S.C. Goldman has been quiet on the M&A front for the past year. In October 2018, the company acquired Birner Dental Management Services, Inc. for $19.9 million. Birner operates dental practice affiliates under the Perfect Teeth brand in... Read More »
PE Firms Move the Needle in the Rehab Market

PE Firms Move the Needle in the Rehab Market

by | Oct 28, 2019 2:12 pm | Private Equity, Rehabilitation

It’s been a quiet year in the Rehabilitation M&A market, at least through October. There have been 27 deals announced that targeted rehabilitation facilities only, a decline of 37% compared with the 43 deals announced in the full year of 2018. True, that’s 10 months in 2019 versus all 12 in 2018, but we’re not expecting a rash of deal announcements between now and December 31. Activity in this sector has been dropping since its peak in 2017, with 49 transactions. Onc factor may be the October 1 launch of the CMS’ new rule, the Patient Driven Payment Model (PDPM), which changes reimbursement and regulations on rehabilitation in skilled nursing facilities and... Read More »