PE Firms Move the Needle in the Rehab Market
It’s been a quiet year in the Rehabilitation M&A market, at least through October. There have been 27 deals announced that targeted rehabilitation facilities only, a decline of 37% compared with the 43 deals announced in the full year of 2018. True, that’s 10 months in 2019 versus all 12 in 2018, but we’re not expecting a rash of deal announcements between now and December 31. Activity in this sector has been dropping since its peak in 2017, with 49 transactions. Onc factor may be the October 1 launch of the CMS’ new rule, the Patient Driven Payment Model (PDPM), which changes reimbursement and regulations on rehabilitation in skilled nursing facilities and... Read More »
Outpatient Rehab Platform Adds On
Another rehabilitation platform made an add-on acquisition. Lima, Ohio-based CORA Health Services, a portfolio company of Gryphon Investors, announced its acquisition of Orthopedic and Sports Therapy Institute (OSTI) in Rockford, Illinois. CORA has more than 100 clinics in Florida, Georgia, Michigan, North and South Carolina, Tennessee and Virginia. OSTI offers a wide variety of services, including general physical therapy and specialty programs in balance and fall prevention, golf therapy, oncology rehabilitation, pain management and more. Its clinics are located in Rockford, Belvidere, Marengo, Ogle County, Poplar Grove and Sauk Valley. Gryphon acquired CORA in June 2016. It made its... Read More »
PE-Backed Tricity Pain Adds Two Acquisitions in Texas
Tricity Pain Associates is on the move in Texas. It’s announced two acquisitions in the first half of July, and management is looking for more. Tricity offers pain management services for spinal stenosis, herniated disc, neck pain and lower back pain. It was acquired by Spindletop Capital Management in May 2018, along with another pain management practice, Interventional Pain Management. That acquisition was the first in a series by Spindletop to develop a premier national provider of pain management services, under the brand name Spindletop Pain Management Holdings. The companies (collectively TPA) provide integrated pain management care, ambulatory surgery centers and ancillary... Read More »
Rehabilitation Platform ClearSky Health Hits the Ground Running
ClearSky Health, a newly launched rehabilitation platform, is wasting no time on the acquisition front. Created by a partnership between Blue Wolf Capital Partners LLC and Peloton Equity LLC, and a management team led by Darby Brockette, ClearSky Health will develop and acquire inpatient rehabilitation facilities (IRFs) and related post-acute services companies. Blue Wolf Capital and Peloton Equity are focused on middle-market investments and acquisitions and have a diverse portfolio in the healthcare market. The company reported it acquired four Texas and Louisiana-based inpatient rehabilitation facilities from Maxim Management Group, LLC. The specific facilities and price terms... Read More »
2018’s Biggest Healthcare Deals by Sector
2018 isn’t quite in the rearview mirror yet. We’re still scouring the news feeds for straggling deal announcements, and that never stops, honestly. With approximately 1,850 deals reported so far for 2018, healthcare deal volume is 14% more than 2017. Before we nail the numbers down, it’s easy to spot the biggest deals (by disclosed price) in each of the 13 healthcare sectors we follow. Most should be familiar names, but you can’t follow every sector. That’s why we’re here. Enjoy. Read More »Schedule a demo
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