The LTM Group Expands Texas Footprint With Wichita Home Health Services Deal
The LTM Group has announced the acquisition of Wichita Home Health Services. The deal will add more than 500 team members and more than 1,000 patients to the company’s network. Based in Wichita Falls, Texas, Wichita Home Health Services has provided home care to patients in its surrounding communities since 1969. The business was founded by Dr. Ruth Constant, who developed the first home health agency certified under Medicare in 1966. She was also one of the founding fellows of the National Association for Home Care & Hospice and the Texas Association of Home Care and Hospice (TAHC). Wichita Home Health is currently led by Chrystal Everett, who also serves as the president of TAHC. The... Read More »
Medusind Solutions Acquires Billing Solutions and edgeMED Healthcare
On August 14 Medusind Solutions, Inc. acquired both Billing Solutions, LLC and edgeMED Healthcare. Monroe Capital LLC acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the acquisitions. Founded in 2011, Billing Solutions is a full-service third-party billing solutions company serving the mental and behavioral health industry. It operates in 13 states, providing revenue cycle management (RCM) services. edgeMED offers expert revenue cycle management services and innovative technological solutions tailored to enhance clinical, financial and operational efficiencies for medical organizations. The company is based in Boca Raton, Florida.... Read More »
MTM Acquires NEMT Business of Access2Care
Medical Transportation Management, Inc., doing business as MTM, Inc., announced that it acquired Access2Care LLC nonemergency medical transportation (NEMT) business. Founded in 1998, Access2Care is the industry’s third-largest NEMT broker, officials said. Access2Care growth has taken it up to management of more than 8.6 million trip requests for more than 5.5 million people in nearly 30 states. The company also has a network of 1,900 NEMT providers with 14,000 vehicles, as well as 1,400 employees. MTM provides transit services to clients in Missouri. The company offers non-emergency medical transportation, home health coordination, preventative care and ambulance claims management... Read More »
National Seating & Mobility Acquires AdaptHealth’s Rehabilitation Technology Assets
National Seating & Mobility (NMS), a portfolio company of New York City-based private equity firm Court Square Capital Partners, announced that it acquired AdaptHealth’s complex rehabilitation technology assets. According to data captured in the LevinPro HC database, this acquisition marks the 59th Home Health & Hospice transaction of the year. AdaptHealth specializes in home medical equipment and in-home care solutions across the United States. NMS provides rehabilitation technology solutions focusing on highly customized wheelchairs for patients diagnosed with long-term or permanent loss of mobility. NMS operates through rehabilitation technician specialists who... Read More »
Rural Healthcare Group acquires Stewardship Health for $245 Million
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 »
Crown Laboratories Merges with Revance Therapeutics
Crown Laboratories, Inc., a portfolio company of New York City-based private equity firm Hildred Capital Partners LLC, announced that it entered into an agreement to acquire Revance Therapeutics, Inc. Crown will commence a tender offer to acquire all outstanding shares of Revance’s common stock for $6.66 per share in cash, representing a total enterprise value of $924 million. The purchase price represents a premium of 89% over Revance’s closing market price on August 9, 2024, and a 111% premium to Revance’s 60-day volume-weighted average price. Revance Therapeutics, Inc. is a biotechnology company based in Nashville, Tennessee. Revance’s... Read More »
Värde Partners Purchases MOB in Blue Ash, Ohio for $40 Million
Värde Partners has acquired a medical outpatient building (MOB) in Blue Ash, Ohio for $40 million, including $16 million in cash, according to Hamilton County Auditor documents. Cincinnati Eye Institute, whose parent company was acquired for $600 million by St. Louis-based EyeCare Partners in 2021, occupies the MOB as a tenant. Constructed in 1985, the building last sold in 2005 for $9.7 million. It was most recently appraised in 2023, resulting in an $18 million valuation. The 113,723-square-foot building, which includes an outpatient surgical center and medical offices, is being sold for more than $351 per square foot. Värde Partners is a leading global alternative investment firm... Read More »
Baxter Sells Kidney Care Segment to Carlyle for $3.5 Billion in Cash
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 »
Hospital M&A Activity Surges in July & August
For the past six weeks, players in the health system and hospital M&A market seem to be running a marathon, with 12 deals so far on the books. There has been a flurry of activity, ranging from divestments to larger system mergers. Many of these deals are unsurprising, often resulting from a years-long plan of a health system’s promise to balance its portfolio. Let’s look at some of the most notable hospital M&A activity of the third quarter (so far). Ascension divests in Illinois In late July, Missouri-based Ascension sold eight hospitals in Illinois and related post-acute and senior living facilities, which all comprise Ascension Illinois. Collectively, the eight hospitals... Read More »Schedule a demo
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