BayMark Health Moves into Canada
BayMark Health Services, based in Lewisville, Texas, made its first foray into Canada this month with the acquisition of Canada’s largest chain of methadone clinics, Canadian Addiction Treatment Centers (CATC), a company that includes 72 opioid-treatment clinics, 19 pharmacies and one residential addiction-treatment center, all in Ontario. This is BayMark’s 10th acquisition since it was formed in 2015, when Webster Capital combined Bay Area Addiction Research and Treatment Inc. (BAART), acquired in June 2015, and MedMark Services, acquired in October 2015 from Capital Resource Partners. That combination created the third-largest methadone provider in the United States. Previous... Read More »
Cigna Bids $67 Billion to Stay in the Race
Cigna (NYSE: CI) is buying Express Scripts Holdings (NYSE: ESRX) for $67 billion, including debt. Some company was going to buy it, we just weren’t sure who. The deal follows the announcement of the $77 billion CVS Health/Aetna (NYSE: CVS/AET) deal and the $4.9 billion Optum/DaVita Medical Group (NYSE: UNH/DVA) hook-up in December 2017. That’s when the word “disruption” became the top-ranked meme in U.S. healthcare. We’ll grant that CVS’s move into managed care signals a change in business-as-usual. But Optum’s deal for DaVita’s medical group didn’t break new ground. Optum has long been known as a voracious acquirer of physician... Read More »
Thinking of Selling Your Health Care Company to a PE Firm?
If you’re the owner or an investor in small- to mid-market healthcare services company, you’re probably wondering if the time is right to sell or seek growth equity from a private equity firm. We’re hosting a webinar on just that theme, “The Ins and Outs of Selling Your Healthcare Services Company to a Private Equity Firm,” on Thursday, March 8, at 1:00 pm ET. Follow the link to register, and read on for a look at the state of global and domestic private equity markets. Bain Capital just released its 2018 Global Private Equity Report, which painted a fairly rosy picture. Both buyouts and exits posted healthy gains in 2017, and the largest buyout funds ever... Read More »
Dermatology Deals Keep PE Platforms Growing
The Physician Medical Group sector has been very busy in recent years, as hospitals and health systems acquire local practices that can produce referrals and private equity firms build platforms and make add-on deals. Dermatology practices aren’t coveted by hospitals, so it’s the private equity firms that are doing the collecting. In the first eight weeks of 2018, 17 deals for physician medical groups have been annouced, 10 in Janaury and seven in the first three weeks of February. The usual specialty practices were represented in that mix, with Mednax (NYSE: MD) adding a neonatology practice in California, Minnesota-based not-for-profit Fairview Health Services acquiring a... Read More »
Hospital Deals in 2018: 27% for Critical Access Hospitals
2018 is still quite young, as we are writing in mid-February. Fifteen hospital mergers or acquisitions have reached the definitive agreement stage, which is when we consider them far enough along to include in our DealSearchOnline.com database. (If the deal falls apart later in due diligence or other process, it’s removed from the data.) Of the 15 hospital deals announced so far, four (27%) were for stand-alone critical access hospitals (CAHs). That percentage will change, of course, as the year goes on. But consider 2017. Of the 74 U.S. hospital transactions announced, seven (9%) targeted a critical access hospital. For all the discussion of rural and community hospitals seeking... Read More »Schedule a demo
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