Behavioral Health Consolidation Continues
Late last week came word that Community Intervention Services, a portfolio company formed by H.I.G. Growth Partners, acquired Northstar Psychological Services in Alpharetta, Georgia. Northstar Psychological provides community-based behavioral health services to individuals and families across 38 counties in Georgia. The company employs a clinical staff of more than 90, and provided treatment to more than 2,600 patients in 2014. This is the seventh acquisition for Community Internation Services since its founding in April 2012. Read More »Medical Imaging Deals Abound
Only half way through October, we’ve seen three transactions targeting a medical imaging company in our Laboratories, MRI & Dialysis sector. That brings to 10 the number of imaging targets in 2015, out of the current total of 39 deals recorded in the sector. It began on October 1, with Konica Minolta Medical Imaging USA’s announcement that it was buying Viztek, LLC, a digital software and hardware imaging company, for an undisclosed price. Another optical giant, Toshiba Medical Systems Corporation, announced its acquisition of Olea Medical SA, a French medical imaging applications company, for an undisclosed price. The next day, Digirad Corporation (NASDAQ: DRAD) paid $36... Read More »Compassus Expands Its Hospice Footprint
Compassus, formerly known as Hospice Compassus, last week announced its acquisition of Hospice Advantage, based in Bay City, Michigan, from Sentinel Capital Partners. Hospice Advantage offers end-of-life care with locations in Alabama, Georgia, Illinois, Indiana, Kansas, Michigan, Minnesota, Mississippi, Missouri, Oklahoma, Pennsylvania, South Carolina, Tennessee and Wisconsin. The service area of the combined company, which will operate as Compassus, will extend to 150 locations in 28 states, serving more than 30,000 patients and their families each year. This acquisition builds on Compassus’s acquisition of Life Choice Hospice in February 2015. Financial terms were not disclosed in... Read More »PharMEDium Healthcare Sold for $2.6 Billion
Last week’s largest deal came from AmerisourceBergen Corporation (NYSE: ABC). The pharmaceutical distributor agreed to pay $2.575 billion for PharMEDium Healthcare Holdings, a portfolio company of Clayton, Dublier & Rice. PharMEDium provides outsourced compounded sterile preparations to acute care hospitals in the United States. It maintains four compounding facilities and serves over 3,000 U.S. hospitals. The acquisition is expected to be $0.22 to $0.26 accretive to ABC’s adjusted EPS in fiscal 2016 on a net basis, and is expected to generate approximately $30 million in synergies by fiscal 2018. Read More »Agape Senior Living Portfolio Sold
Last week’s largest deal total just $153.8 million. That modest amount was paid by an undisclosed private equity firm to acquire the Agapé Senior Living portfolio across South Carolina. The portfolio consists of 10 assisted living communities, with 856 units, and three skilled nursing facilities, with 294 beds. The buildings were constructed from 1990 to 2008, with various renovations. Occupancy averaged 77.5% at the AL/MC and 81.6% at the SNFs. The final purchase price came out to $156,400 per unit for the AL/MC units and $68,000 per bed for the skilled nursing. Read More »Schedule a demo
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