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DrDoctor Acquires Patient Engagement Platform Maia
On August 12, DrDoctor announced the acquisition of Maia from Mindwave Ventures, a personal health record platform custom built for mental health care that allows users to access appointments and triaging as well as documents, care plans, resources, questionnaires and more. Maia is a flexible and adaptable patient engagement portal, configurable by both the provider (NHS) and end user (patient, clinician and carer), creating a fully personalized experience, catering to individual needs and customized to the specific clinical priorities of each service within any healthcare provider. DrDoctor is the leading patient engagement platform in the United Kingdom, working with the NHS to deliver... Read More »
HouseWorks Expands Footprint in Pennsylvania With Bridge City Home Care Deal
HouseWorks announced that it has acquired the Pittsburgh-based personal care services company Bridge City Home Care. Financial terms of the deal were not disclosed. Bridge City Home Care provides non-medical in-home care services to individuals in Pittsburgh. The company offers personalized, compassionate and optimal care solutions, with a team of trained healthcare professionals. Its services include personal care and daily living assistance. Founded in 1998, HouseWorks provides in-home care services in Maine, Massachusetts, New Hampshire, New York, Pennsylvania and Tennessee. Along with traditional home care services, HouseWorks helps clients with certain home modification needs.... Read More »
Huff Orthopedics & Sports Medicine Joins Cape Fear Valley Health
Cape Fear Valley Health, a North Carolina-based health system, announced that it entered into an agreement to acquire Huff Orthopedics & Sports Medicine. Huff Orthopedics & Sports Medicine is an orthopedic practice with one location in Clinton, North Carolina. According to its website, the practice has one provider on staff (Dr. W. Alexander Huff) who is supported by a team of three physician assistants. Cape Fear Valley Health System operates a regional health system with multiple hospital types including rehabilitation hospitals and behavioral health hospitals. According to its website, the health system has approximately 530 physicians on staff that are spread across... Read More »
Debt Market and Private Equity: A Conversation with Scott Davis
As we reflect on the first half of the year, we took the opportunity to delve into the key highlights of the Physician Medical Group (PMG) industry. In an insightful conversation with Scott Davis, Managing Director at Provident Healthcare Partners, we explored the major themes that have shaped the year’s journey so far. Q: What were the major headwinds and tailwinds impacting the PMG market in the first half of 2024? How has this changed from 2023? A: Debt markets continue to be a headwind for the formation of new platforms, with many investors over equitizing investments to fill the gap and/or needing to take a club lending model to fill the financing needs of a given deal.... Read More »Montecito Medical Buys Chesterton, Indiana Ambulatory Surgery Center
Montecito Medical Real Estate, a leading buyer of medical office properties nationwide, announced that it has acquired a 9,200-square-foot outpatient ambulatory surgery center (ASC) in Chesterton, Indiana. The property is 100% occupied by Dune Grass Surgical Suites. Providers at the property, which was completed in 2022, perform orthopedic and spine surgeries. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. The Chesterton property represents Montecito’s eighth acquisition in the greater Chicago MSA in the past... Read More »
BelHealth Exits VFP Pharmacy Group
BelHealth Investment Partners, LLC announced that it has completed the sale of Waltham, Massachusetts-based VFP Pharmacy Group. According to data captured in the LevinPro HC database, this transaction represents the 17th Specialty Pharmacy transaction of 2024. There were 15 Specialty Pharmacy transactions during 2023, and 27 announced during 2022. VFP Pharmacy Group is one of the largest independent national fertility pharmacies in the United States. The company was created via the merger of four specialty pharmacies: Village Fertility Pharmacy in Boston, Village Fertility Pharmacy in Chicago, Integrity Rx Specialty Pharmacy in Phoenix and Integrity Rx Specialty Pharmacy in Los Angeles.... Read More »
Recursion and Exscientia Merge
On August 8, Recursion and Exscientia announced plans to merge. The combined company is estimated to achieve annual synergies of approximately $100 million with a runway extending into 2027. Exscientia is a global pharmatech company using patient-first artificial intelligence to discover better drugs. Exscientia combines precision design with integrated experimentation, aiming to invent and develop the best possible drugs in the most efficient manner. According to the company’s financial report, the company generated revenue of $25.6 million for the 12 months ending on December 31, 2023. Recursion is a clinical stage biotechnology company decoding biology to industrialize... Read More »
Surgery Partners Acquires 14 Wisconsin-based Groups
On August 6, Surgery Partners, backed by Boston-based private equity firm Bain Capital, announced that it entered into an agreement to acquire 14 Wisconsin-based orthopedic groups and two ambulatory surgery centers (ASCs) from The Orthopedic Institute of Wisconsin. Surgery Partners is a leading operator of surgical facilities and ancillary services. It has more than 180 locations in 32 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities. The Orthopedic Institute Of Wisconsin is a medical group practice with three locations across the state. According to its website, it has 18 physicians on... Read More »
Health Catalyst Finalizes Acquisition of Care Management Company Lumeon Limited
On August 8, Health Catalyst announced that it has successfully completed its acquisition of Boston, Massachusetts-based Lumeon Limited. Health Catalyst, which trades on the NADAQ market under the ticker “HCAT,” funded the transaction with a mix of stock and cash. Financial terms of the deal were not disclosed. Lumeon Limited is a digital health company providing management care solutions to the healthcare industry. With operations in the United States and the United Kingdom, Lumeon is dedicated to helping provider organizations mend broken care coordination processes through automated care orchestration. Leading providers use Lumeon’s Care Orchestration technology to lower costs,... Read More »Schedule a demo
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