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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 »
Private Equity Stays Active in Health Care

Private Equity Stays Active in Health Care

by | Jun 3, 2019 9:39 am | eHealth, Other Services, Physician Medical Groups, Private Equity

Nearly halfway into 2019, and PE firms are showing no signs of slowing as they swarm the healthcare industry. So far this year, there have been 71 deals with a private equity firm as the buyer, or roughly 11% of the total deals announced. That’s roughly the same amount as in the same period in 2018. In late May, Golden Gate Capital announced it purchased Ensemble Health Partners for a reported $1.2 billion from Bon Secours Mercy Health. The target company provides outsourced revenue cycle management (RCM) and operation solutions to hospitals across the country. It has more than 3,600 employees and partners with more than 60 hospitals in 30 states. Bon Secours bought the company in... Read More »
Autism Therapy Provider Hopebridge Changes Hands Again

Autism Therapy Provider Hopebridge Changes Hands Again

by | May 16, 2019 3:56 pm | Behavioral Health Care, Private Equity

Autism treatment companies are still hot targets in 2019. Eight transactions have been announced so far this year, compared with 20 in all of 2018. (That was an outsized year for every healthcare sector. There were nine deals for autism targets in 2017.) Private equity firms are trading platforms in this sub-sector. Just this year, Gryphon Investors bought Learn Behavioral from LLR Partners for an undisclosed amount. Now there’s the deal between Baird Capital and Arsenal Capital Partners for Hopebridge LLC. Hopebridge LLC was launched in 2005 in Indianapolis, Indiana to serve the growing need for autism treatment services. The clinic-based autism therapy business provides Applied... Read More »
Oak Hill Capital Exits AccentCare

Oak Hill Capital Exits AccentCare

by | May 16, 2019 3:15 pm | Home Health & Hospice, Private Equity

May has been a busy month for deals in the Home Health & Hospice sector with eight transactions announced midway through the month. The latest is Oak Hill Capital Partners’ sale of its post-acute care platform, AccentCare, Inc. to Advent International. Financial terms were not disclosed. Today, AccentCare is the sixth largest home health platform and the third largest personal care platform in the United States. It serves health systems, physician practices and managed care organizations, and includes strategic joint ventures and partnerships. Its range of services includes personal, non-medical care to skilled nursing, rehabilitation, hospice care and care management. Oak Hill... Read More »