Medical Staffing M&A Makes a Comeback
Labor shortages for physicians and nurses may heat up the medical staffing market in 2018. Through the first 10 days of February, three transactions for these service companies have been announced. Last year, 16 transactions targeting medical staffing services were made public, the highest number of deals in this segment since 2005 (19 deals) and 2004 (20). The most recent deal announcement came from Medical Solutions, a portfolio company of TPG Growth based in Omaha, Nebraska. Medical Solutions is a healthcare staffing firm that specializes in placing registered nurses in temporary travel assignments throughout the country. The target, PPR Travel Nursing, was a division of PPR Talent... Read More »
Deal of the Week: Alliance PT/Agility Health LLC
Alliance Physical Therapy Partners, a portfolio company of GPB Capital, added on to its growing rehabilitation platform last week. On February 9, its affiliate, Physical Therapy Management, LLC signed a definitive agreement to acquire the U.S. operations of Agility Health, Inc. (TSXV: AHI), known as Agility Health LLC. Alliance PT will acquire 100% of the membership interests in Agility Health, LLC, based in Grand Rapids, Michigan, for a total transaction value of $45 million. Agility Health’s U.S. division operates over 50 outpatient or on-site physical therapy clinics, and also provides contract rehabilitation services to over 90 hospitals, inpatient rehabilitation units, long-term care... Read More »
New Buyers Move in to Home Health & Hospice
The Home Health & Hospice sector is poised for big deals in 2018. As the healthcare industry shifts inexorably toward value-based reimbursement models, this sector has become the “go-to” care protocol to help drive down costs and to keep patients out of institutions. However, the pressures that existed in 2017 are still present in 2018, and even amplified now. Mark Kulik, managing director at The Braff Group, recently gave us his view of the market. Not only will the rate of M&A activity accelerate, new buyers will enter the market. “Ten years ago, people stayed in their lane. Today, we’re going out to a wider range of buyers, such as long-term care and... Read More »
New MainStream Adds On to Platform Companies
The recent crop of healthcare services platforms owned by New MainStream Capital is moving to the add-on stage. Last week brought two acquisition announcements from Omni Eye Services and CORDENTAL Group. Both companies were acquired in 2017. New MainStream committed $25 million in equity capital to buy CORDENTAL in March 2017. The Cincinnati-based company is a dental support organization that provides business support services to affiliated dental practices in the Mid-Atlanta, Midwestern and Southeastern regions. Omni Eye Services, based in Iselin, New Jersey, is an optometric referral practice providing a full range of specialty services for the advanced treatment of eye diseases. No... Read More »
The Physician Medical Group Market Ramps Up
The Physician Medical Group (PMG) space is consolidating at a torrid pace, and the pace won’t slacken in 2018. Last year, deals for physician practices hit a record in the 21st century with 166 transactions, up 27% over the previous year’s 131 transactions. The momentum is indeed continuing into 2018, with eight more acquisitions announced in the first two weeks. The real record was set in 1998, at 264 deals, but that was a very different time and market. Then, publicly traded management companies were building nationwide platforms of physicians. The market collapsed in 1999, and most of those transactions were unwound and the deal makers vowed, “Never again.” Welcome to 2018.... Read More »Schedule a demo
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