• Smile Brands Scoops Up Dentistry of Sarasota

    On December 2, Smile Brands, one of the largest providers of dental support services in the United States, announced its new partnership with Dentistry of Sarasota. Financial terms of the deal were not disclosed. Smile Brands provides business support services to general and multi-specialty dental groups since its founding in 1998. The company... Read More »
  • Ingenovis Health to Acquire HealthCare Support

    Ingenovis Health, Inc., one of the fastest-growing providers of healthcare staffing, announced on November 29 that it has agreed to acquire HealthCare Support, a national healthcare staffing platform providing a full range of customized hiring solutions across the country. Financial terms of the transaction, which is expected to close in the... Read More »
  • Edifecs to Acquire Health Fidelity

    On November 22, Edifecs, Inc. announced that it has signed a definitive agreement to acquire Health Fidelity, a leading provider of risk adjustment solutions for the value-based care era. The acquisition is expected to close in mid-December of this year, pending regulatory approval. Founded in 1996, Edifecs is a premier technology company in the... Read More »
  • Israeli Startup TailorMed Acquires Vivor

    On November 29, TailorMed, a leading financial navigation platform that helps healthcare organizations and patients remove financial barriers to care, announced that it has acquired Vivor, a financial assistance technology platform for healthcare providers and life sciences. The financial terms of the transaction were not disclosed. TailorMed is... Read More »
  • HomeCentris Healthcare Acquires Grace Home Healthcare

    On November 26, HomeCentris Healthcare, LLC announced that it had acquired Grace Home Healthcare, LLC. The deal was closed in October for an undisclosed amount. Headquartered in Owings Mills, Maryland, HomeCentris Healthcare, LLC is an independent home and community-based care organization. It was founded in 2000 and provides its services to... Read More »
The State of the Rehabilitation M&A Market

The State of the Rehabilitation M&A Market

Throughout 2020, there wasn’t much to write about in the Rehabilitation sector. The industry was under regulatory pressure from CMS in the beginning of 2020, and then Covid-19 came around, making things even more difficult. Social distancing guidelines hindered in-person appointments, and we imagine that the effects of surgery cancellations at hospitals trickled down into this sector as well. U.S. Physical Therapy, Inc. (NYSE: USPH), one of the largest rehabilitation providers, saw a 13.8% drop in net patient revenue in 2020 compared with 2019, for instance. However, It was more difficult to discern the effects in the M&A market. The sector barely breaks double-digit deal volume on a... Read More »
Kindred Healthcare Adds Two Rehab Hospitals

Kindred Healthcare Adds Two Rehab Hospitals

The healthcare services giant Kindred Healthcare, LLC is back in the M&A market. Much of the company’s activity has focused on partnerships and new development projects, but now Kindred is adding two rehabilitation hospitals with two separate joint ventures.  The first deal was announced in partnership with Texas Health Resources, a faith-based, not-for-profit health system. The two companies have jointly taken control of Everest Rehabilitation Hospital of Keller, a 36-bed rehabilitation hospital located in the northern suburbs of Fort Worth, Texas that just opened in December 2020. The hospital will be renamed Texas Rehabilitation Hospital of... Read More »
ATI Physical Therapy Goes Public

ATI Physical Therapy Goes Public

The healthcare M&A market has been dominated by a surge of SPAC deals, or private companies going public through reverse mergers with a special purpose acquisition company. The deals have usually been in the eHealth and Biotechnology sectors, but now a giant in the Rehabilitation sector is getting in the action. ATI Physical Therapy, the largest single-branded outpatient physical therapy provider in the United States, is merging with Fortress Value Acquisition Corp. II in a $2.5 billion deal.  ATI owns and operates nearly 900 physical therapy clinics across 25 states. The company generated approximately $178.6 million in adjusted EBITDA for 2020.  ATI Physical Therapy was a portfolio... Read More »
NeuPath Health Makes Moves to Expand

NeuPath Health Makes Moves to Expand

The Canadian-based NeuPath Health Inc. (TSXV:NPTH) is entering the healthcare M&A market with its deal for HealthPointe Medical Centres Ltd. NeuPath is Canada’s largest provider of chronic pain management services that operates under two leading brands in Ontario: Centres for Pain Management and InMedic Creative Medicine. NeuPath has 12 locations across Ontario with more than 100 licensed healthcare providers that provide care to over 11,000 patients annually.  Under the terms of the agreement, NeuPath will acquire 100% of HealthPointe for CAD 3.2 million upfront cash (U.S. $4.05 million) and up to CAD 1.5 million in potential milestones based on the achievement of certain financial... Read More »
Physical Rehabilitation Network Expands in California

Physical Rehabilitation Network Expands in California

It’s been a quiet year for the rehabilitation sector in terms of healthcare M&A, most likely due to the social distancing safety measures implemented because of COVID-19 and the new reimbursement model put in place on October 1, 2019. But last week, Physical Rehabilitation Network, LLC announced a new transaction in California. PRN, a portfolio company of Silver Oak Services Partners, added Morgan Hill Physical Therapy, Inc., a Northern California-based outpatient rehabilitative care group that provides physical and occupational therapy, functional integrative therapy, work injury rehabilitation and sports medicine and complimentary injury consultations. With the addition of Morgan... Read More »
Omada Health Adds Physera

Omada Health Adds Physera

Omada Health, a digital health coaching company based in San Francisco, didn’t have to go far to find a perfect target. On May 19, the company announced its acquisition of Physera, Inc., a digital physical therapy provider also based in San Francisco. In conjunction with the acquisition, Omada raised an additional round of growth capital from Perceptive Advisors, a life sciences investment firm, to finance the deal and support future growth. CNN reported that $37 million of that investment went to the Physera acquisition. Physera is a musculoskeletal care company that delivers physical therapy and interventions digitally and via telehealth visits to achieve clinical outcomes and... Read More »