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Outpatient Rehab Platform Adds On

Outpatient Rehab Platform Adds On

by | Jul 19, 2019 3:13 pm | Private Equity, Rehabilitation

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

Ante Up: Private Equity Firms Bet Big on Physician Medical Groups

by | Jul 15, 2019 11:27 am | Physician Medical Groups, Private Equity

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?

Is Laboratories, MRI and Dialysis on the Rise?

by | Jul 1, 2019 12:25 pm | Laboratories, MRI & Dialysis, Private Equity

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

Healthcare Payment Firm Bought for $3.2 Billion

by | Jun 24, 2019 9:36 am | Other Services, Private Equity

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 »
Anthem Adds Beacon Health Options to its Behavioral Offerings

Anthem Adds Beacon Health Options to its Behavioral Offerings

by | Jun 14, 2019 3:54 pm | Behavioral Health Care, Managed Care, Private Equity

Even without a price disclosed, this is one of the biggest deals we’ll probably see in the Behavioral Health Care sector this year. Bain Capital Private Equity and Diamond Castle Holdings are selling Beacon Health Options, the largest independently held behavioral health organization in the country. The buyer is managed care giant Anthem, Inc. (NYSE: ANTM). Beacon currently serves more than 36 million individuals across all 50 states, includign nearly 3 million individuals under comprehensive risk-based behavioral programs. Its service lines incldue clinical mental health and substance use disorder management, a comprehensive employee assistance program, work/life support, specialty... Read More »
KKR’s PharMerica Makes Its First Deal

KKR’s PharMerica Makes Its First Deal

by | Jun 7, 2019 1:56 pm | Private Equity, Specialty Pharmacies

In late May, specialty pharmacy company PharMerica Corporation announced its first acquisition since being acquired by KKR & Co. (NYSE: KKR), with a minority investment from Walgreens Boots Alliance (NASDAQ: WBA), in August 2017. The company priovides institutional and community-based pharmacy services in the United States. When KKR took it private for $1.3 billion, it had trailing-12 month revenue of approximately $2.4 billion and EBITDA of $138 million. In December 2018, KKR announced a $1.3 billion deal for BrightSpring Health Services, then owned by Onex Corporation (ONEX.TO). BrightSpring, formerly known as ResCare, provides comprehensive home and community-based health services... Read More »