Healthcare Services Roundup through April 2018
It’s been quite a year for healthcare deals in general, with nearly 600 announced transactions in the first four months. That’s 7% more than there were announced in the first four months of 2017. Dollar volume has soared, too. In 2018, $141.8 billion has already been committed to fund the 588 transactions. Thanks to some mega-billion-dollar deals in 2018, the total is 30% greater than the nearly $109 billion spent in the same period of 2017. Collectively, the Services sectors are booming, which isn’t always the case. Services deals made up 63% of all deals in the first four months of 2018, and 57% of the disclosed dollars, now at $81.3 billion. The Technology sectors... Read More »
CORA Announces Four (More) PT Acquisitions
CORA Health Services added four more physical therapy companies to its growing platform. A portfolio company of Gryphon Investors since June 2016, CORA Health operates more than 160 clinic locations in seven states. When Gryphon first invested, the company operated more than 100 clinics in Florida, Michigan, and South Carolina. The latest additions add to existing geographic footprints in Georgia (adding West Rehab & Sports Medicine in Savannah), North Carolina (adding Accent Physical Therapy in Wilmington) and Tennessee (adding Champion Physical Therapy in Knoxville and 14 other locations, including Kentucky). With the acquisition of Professional Therapies of Roanoke, CORA Health... 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 »2017 Biggest Healthcare Deals by Sector
2017 was another big year for billion-dollar healthcare transactions. Among the deals that disclosed prices, 44 topped the billion-dollar mark, for a total of approximately $263.1 billion. Although that number seems high, there were 50 billion-dollar deals announced in 2015, although those totaled a slightly lower $240.1 billion. 2016 posted lower totals for both the number of billion-dollar deals (39) and combined prices ($194.1 billion). Of course the biggest healthcare deal in 2017 was the $77 billion acquisition of Aetna Inc. (NYSE: AET) by CVS Health (NYSE: CVS). But there were many more sizable transactions across the sectors, as the chart below illustrates. See how many you remember... Read More »
Deal of the Week: Concentra/Dignity Health
Even as it continues merger talks with the troubled hospital chain, Catholic Health Initiatives, Dignity Health sold its rehabilitation and occupational health division, U.S. HealthWorks for $753 million. The acquirer, Concentra Group Holdings, is jointly held by Select Medical Corporation (NYSE: SEM), Welsh, Carson, Anderson & Stowe and minority equity shareholders including Cressey & Company. The combination will bolster both companies’ urgent care platforms as new payment models push for care delivery outside of hospital setting. Dignity Health will receive a 20% equity interest in the combined entity, valued at $238 million, and the remainder of the purchase price in... Read More »Schedule a demo
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