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MedSource Travelers Merges With Onyx Health Care Staffing
MedSource Travelers announced on July 16 that it completed a merger with Austin, Texas-based Onyx Health Care Staffing. Both MedSource Travelers and Onyx have a national footprint with a strong geographic presence in both the Southeast and the West Coast. Onyx Health Care Staffing provides travel nurse and allied healthcare staffing, as well as perm placement. The company offers comprehensive recruitment and staffing services across a broad spectrum to meet the needs of healthcare and educational organizations. Founded in 2001, MedSource Travelers is a healthcare staffing firm headquartered in Safety Harbor, Florida. MedSource provides nursing and allied staffing as well as permanent... Read More »
Med-Metrix Announces the Acquisition of RCM Provider HRSI
Med-Metrix, LLC, backed by Greenwich, Connecticut-based private equity firm A&M Capital Partners, announced it has acquired Healthcare Receivable Specialists, Inc. (HRSI). HRSI is a specialized revenue cycle management (RCM) and patient access company providing a comprehensive suite of technology-enabled eligibility management services. The company was founded in 1997 and is based in Newtown, Pennsylvania. Med-Metrix is a leading technology-enabled services platform providing RCM and business intelligence solutions for health systems and physician groups across the United States. The company serves its customers through its Med-Metrix LLC, Medi-Centrix LLC, Physician Advisor On-Call,... Read More »
VERTESS Closes Specialty Pharmacy Deal in Mississippi
VERTESS, a Fort Worth, Texas-based healthcare M&A advisory firm, announced on July 16 the successful completion of a specialty pharmacy acquisition in Mississippi. Keystone Specialty Pharmacy was purchased by Novastone Capital Advisors. Keystone Specialty Pharmacy is a specialty pharmacy in Madison, Mississippi. Keystone offers healthcare providers new resources to treat serious infections while maintaining the highest ethical standards in business. Founded in 2019, Novastone Capital Advisors is a private equity firm based in Baar, Switzerland. The transaction was overseen by VERTESS Managing Director, Alan Hymowitz, who previously owned and operated a pharmacy before his tenure at... Read More »
DermCare Management Acquires Practices in Florida
DermCare Management has announced its third transaction of 2024 with the acquisition of Bassin Plastic Surgery and Boyne Dermatology. Bassin Plastic Surgery is located in Orlando, Viera, Tampa and Lady Lake, Florida. According to its website, there are three providers on staff that provide services such as liposuction, rhinoplasties and breast augmentations. Boyne Dermatology has one location in Jacksonville, Florida. According to its website, it has one provider on staff: Dr. Joy R. Boyne MD. DermCare Management, a portfolio company of New York-based private equity firm Hildred Capital Management since October 2019, is a physician practice management company with clinics... Read More »
Community Dental Care buys Maplewood, Minnesota Medical Outpatient Building
Community Dental Care, a management service organization (MSO), announced on July 11 that it acquired a medical outpatient building (MOB) in Maplewood, Minnesota. The seller was 3M, an industrial manufacturing company. The MOB is a 32,175-square-foot Class B outpatient building that is directly east of 3M Center. The MOB was sold for $2.475 million. The price is approximately $77 per square foot. Community Dental Care is an MSO based out of Maplewood, Minnesota. Community Dental Care has 43 dentists in its network, and a staff of more than 270 professionals, serving nearly 50,000 patients every year. According to data captured in the LevinPro HC database, this... Read More »
Unraveling Healthcare Real Estate in 2024: A Conversation with Christopher Stai of HREA Healthcare Real Estate Advisors
The Real Estate Investment Firm (REIF) and Real Estate Investment Trust (REIT) markets remain among the most dynamic sectors. The first half of 2024 (1H 2024) exemplified this trend, continuing to demonstrate significant activity and engagement. The REIF sector has shown significant acquisition activity in acquisitions in the past few years. In 2019, there were two transactions with a REIF buyer. This jumped to 22 transactions in 2020, 74 deals in 2021, and continued to escalate in 2022 when 141 transactions were announced. Yet, there was a decline in 2023 when 97 acquisitions were announced. In the first six months of 2024, 52 transactions were completed by a REIF buyer. We spoke with... Read More »
Edwards Lifesciences to Acquire Innovalve
Edwards Lifesciences announced on July 15 that it has exercised its option to acquire Innovalve Bio Medical Ltd. following its initial investment in 2017. The purchase price is about $300 million in cash. Innovalve Bio Medical Ltd. is an early-stage medical device company that develops catheter-based heart valve therapies. The company was founded in 2017 and is based in Israel. Edwards Lifesciences is an American medical technology company headquartered in Irvine, California, specializing in artificial heart valves and hemodynamic monitoring. It developed the SAPIEN transcatheter aortic heart valve made of cow tissue within a balloon-expandable, cobalt-chromium frame, deployed via... Read More »
Pennant Group Expands With Signature Healthcare Assets
The Pennant Group Inc. announced on July 11 that it has agreed to acquire Signature Healthcare at Home’s hospice and home health assets for a combined purchase price of $80 million. Signature Healthcare at Home is a provider of home health and hospice services in the Pacific Northwest, with multiple locations throughout Oregon, Washington and Idaho. Signature employs a team of more than 650 home health and hospice staff. It has an annual revenue of approximately $78 million, home health admissions of more than 12,000 and an average daily hospice census of more than 300, each over the trailing twelve months. The Pennant Group, Inc. is a holding company of independent operating subsidiaries... Read More »
OhioHealth Sells Outreach Laboratory Services Business to Quest Diagnostics
OhioHealth, based in Columbus, Ohio, announced on July 10 that it had signed an agreement to sell certain assets of its outreach laboratory services business to Quest Diagnostics. OhioHealth is a family of not-for-profit hospitals and healthcare facilities serving central Ohio since 1891. Quest Diagnostics provides diagnostic testing information services in the United States and internationally. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States with approximately 50,000 employees. According to its most recent annual report, Quest Diagnostics generated $9.25 billion in annual revenues during FY 2023, and annual EBITDA of $1.7... Read More »Schedule a demo
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