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Rural Healthcare Group acquires Stewardship Health for $245 Million 

Rural Healthcare Group acquires Stewardship Health for $245 Million 

by | Aug 13, 2024 2:45 pm | Physician Medical Groups, Private Equity

Rural Healthcare Group, backed by New York-based private equity firm Kinderhook Industries, announced that it entered into an agreement to acquire Stewardship Health.   Steward Medical Group and Steward Health Care Network are combined to create Stewardship Health. Stewardship is a physician-led multispecialty organization offering primary care and specialty services which includes Steward Emergency Physicians of Ohio, Inc., and Steward Emergency Physicians of Pennsylvania, Inc. According to the press release, the network consists of more than 1,700 physicians across 11 states including Ohio, Pennsylvania and Massachusetts.   Rural Healthcare Group is a multi-site primary care... Read More »
Baxter Sells Kidney Care Segment to Carlyle for $3.5 Billion in Cash

Baxter Sells Kidney Care Segment to Carlyle for $3.5 Billion in Cash

by | Aug 13, 2024 11:06 am | Laboratories, MRI & Dialysis, Private Equity

Baxter International Inc. and funds managed by global investment firm The Carlyle Group announced on August 13 that they have signed a definitive agreement under which Carlyle will acquire the kidney-care unit of Baxter International. The unit will be named Vantive. The deal establishes Vantive as a leading standalone kidney care business backed by Carlyle’s global investment team and resources. Every day, millions of patients, caregivers and healthcare providers rely on Baxter’s portfolio of diagnostic, critical care, kidney care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. The company’s products, digital... Read More »
HouseWorks Expands Footprint in Pennsylvania With Bridge City Home Care Deal

HouseWorks Expands Footprint in Pennsylvania With Bridge City Home Care Deal

by | Aug 12, 2024 12:26 pm | Home Health & Hospice, Private Equity

HouseWorks announced that it has acquired the Pittsburgh-based personal care services company Bridge City Home Care. Financial terms of the deal were not disclosed. Bridge City Home Care provides non-medical in-home care services to individuals in Pittsburgh. The company offers personalized, compassionate and optimal care solutions, with a team of trained healthcare professionals. Its services include personal care and daily living assistance. Founded in 1998, HouseWorks provides in-home care services in Maine, Massachusetts, New Hampshire, New York, Pennsylvania and Tennessee. Along with traditional home care services, HouseWorks helps clients with certain home modification needs.... Read More »
Debt Market and Private Equity: A Conversation with Scott Davis

Debt Market and Private Equity: A Conversation with Scott Davis

by | Aug 9, 2024 1:57 pm | Physician Medical Groups, Private Equity

As we reflect on the first half of the year, we took the opportunity to delve into the key highlights of the Physician Medical Group (PMG) industry. In an insightful conversation with Scott Davis, Managing Director at Provident Healthcare Partners, we explored the major themes that have shaped the year’s journey so far. Q: What were the major headwinds and tailwinds impacting the PMG market in the first half of 2024? How has this changed from 2023? A: Debt markets continue to be a headwind for the formation of new platforms, with many investors over equitizing investments to fill the gap and/or needing to take a club lending model to fill the financing needs of a given deal.... Read More »
SurgNet Health Partners Buys ASC in Tuscaloosa, Alabama

SurgNet Health Partners Buys ASC in Tuscaloosa, Alabama

by | Aug 8, 2024 11:38 am | Other Services, Private Equity

SurgNet Health Partners, Inc. announced on August 8 a partnership with Tuscaloosa Endoscopy Center, a leading provider of gastrointestinal diagnostic and therapeutic endoscopic procedures in West Alabama. The deal closed on July 3, 2024. Tuscaloosa Endoscopy Center is an ambulatory surgery center (ASC) in Tuscaloosa, Alabama. Led by board-certified gastroenterologists Dr. AB Reddy, Dr. Rekha Khurana and Dr. Kartika Reddy, Tuscaloosa Endoscopy Center has been a staple in the region since it was founded in 1982. SurgNet Health Partners is a Nashville-based ambulatory surgery center development and management company. SurgNet was founded in 2022 with backing from three private equity firms:... Read More »
Center for Vein Restoration acquires Vein Specialists of the Carolinas

Center for Vein Restoration acquires Vein Specialists of the Carolinas

by | Aug 7, 2024 3:15 pm | Physician Medical Groups, Private Equity

Center for Vein Restoration (CVR) announced that it acquired Vein Specialists of the Carolinas. Vein Specialists of the Carolinas is a vascular specialist practice with two locations in the Charlotte, North Carolina MSA: Charlotte and Gastonia. According to its website, the practice is run by two physicians (Dr. David Draughn and Dr. Paul Putterman) who are supported by a team of 20. CVR, a portfolio company of Cortec Group, is one of the largest physician-led practices treating vein disease in the country. With more than 100 centers, CVR has more than 500 employees and conducts more than 200,000 patient interactions annually. By adding Vein Specialists of the Carolinas, CVR is expanding... Read More »