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HiRO Acquires DeltaMed Solutions, Continues to Expand U.S. Footprint
Harvest Integrated Research Organization (HiRO), has announced the successful acquisition of DeltaMed Solutions, headquartered in Somerset, New Jersey. The acquisition, advised by Evercore as financial advisor, marks HiRO’s third CRO acquisition since its establishment in 2020. DeltaMed Solutions is a global life sciences contract research organization (CRO) with a global footprint in the United States and China. DeltaMed Solutions, headquartered in New Jersey, boasts a team of industry professionals with 15-30 years of expertise in serving large to mid-sized pharmaceutical and biotechs. HiRO is a globally oriented CRO with its headquarters in Shanghai, China. With global operations... Read More »
PE-Backed I-MED Enters U.S. Market With Teleradiology Acquisition
Private equity-backed I-MED Radiology Network announced on July 2 that it is entering the U.S. market with the acquisition of San Diego-based teleradiology group StatRad. Founded in 1995, StatRad bills itself as the second largest teleradiology provider in the States. Privately owned by radiologists, StatRad employs more than 90 United States-based physicians performing reads for hundreds of clients and thousands of patients every day, according to its website. I-MED Radiology Network is one of Australia’s leading radiology providers, employing 450 doctors and operating 250 clinics located across Australia. Currently, teleradiology accounts for about 10% of I-MED’s revenue, with its... Read More »
Google Set to Acquire Home Healthcare App CareClic247
Google announced on July 2 that it is set to acquire CareClic247, a prominent home healthcare app. The addition of CareClic247 amplifies Google’s healthcare portfolio and complements Google’s existing healthcare technologies. CareClic247 has developed an app that connects medical and non-medical, in-home caregivers for physically and mentally impaired seniors. The app can send a doctor, nurse or a caregiver to a patient’s home 24/7 on demand. Google focuses on online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, consumer electronics and artificial intelligence. Google’s parent company is Alphabet Inc.... Read More »
ACG NY Healthcare Conference Recap
Last week, the LevinPro HC team ventured to the upper east side of Manhattan to attend the 16th Annual ACG New York Healthcare Conference. It’s usually a short (but productive) evening of networking and honest conversations around the healthcare M&A market and private equity, and this year was no different. The keynote speaker was Jonathon Bush, Founder and CEO of Zus Health, a digital health platform offering care-coordination programs and analytics for providers. If Mr. Bush’s name rings a bell, he was the co-founder of athenahealth, another eHealth company offering a suite of electronic health record and patient engagement services. Moderated by Andrew... Read More »
LITALICO Acquires Developmental Disability Centers of Nebraska for $50 Million
On June 28, LITALICO Inc. announced that it acquired Disability Centers of Nebraska (DDCN) for $50 Million. LITALICO will pay $29.5 million upfront and $20.5 million in an earn-out over three years. DDCN is a Medicaid-certified disability services provider based out of Omaha, Nebraska. It provides care for persons with disabilities and/or behavioral disorders. It was founded in 2015 and has 17 group homes in Nebraska. LITALICO is one of Japan’s largest intellectual and developmental disability (IDD) providers. According to the company’s financial reports, for the first quarter of 2024, LITALICO reported revenue of $7.72 billion. Following the acquisition, LITALICO... Read More »
Interview with Andre Ulloa at M&A Healthcare Advisors
We are always interested in hearing the opinion of advisors and other industry experts regarding the Home Health & Hospice (HH&H) market. So, we put out a pulse survey to gain a deeper understanding of the current trends and future outlook. From this survey, we spoke with Andre Ulloa, Partner and Executive Advisor at M&A Healthcare Advisors, to get his perspective on the market. Q: On a scale of 1-5, how optimistic are you about the future of the HH&H M&A market within the next year or two? A: “It’s been very difficult to predict markets in the last five years. Initially, volatility due to regulatory changes led to massive consolidations pre-COVID. The... Read More »
Elara Caring Grows Midwest Footprint With Caregivers Home Health Deal
Dallas, Texas-based Elara Caring announced that it has acquired Caregivers Home Health in a transaction that allows Elara Caring to enter the Iowa market and expand its footprint in Kansas. Founded in 2004, Caregivers Home Health is a privately-owned home health agency that operates in Kansas and Iowa. The company has locations in Topeka and Garden City, Kansas and Chariton and Centerville, Iowa. Elara Caring is one of the nation’s leading providers of home-based care, offering skilled home health, hospice, personal care services, behavioral health and palliative care. With a footprint in 17 states in the Northeast, Midwest and Southwest, it serves more than 60,000 patients and their... Read More »
Walgreens to Reduce Stake in VillageMD
Walgreens Boots Alliance Inc. announced its plan to reduce its majority stake in the primary care provider VillageMD, marking a strategic pivot in its healthcare services approach. This decision, revealed during the company’s third-quarter earnings call on June 27, 2024, comes after significant investments and expansions in the healthcare sector over recent years. In a statement, CEO Tim Wentworth emphasized that while Walgreens remains committed to VillageMD, it will no longer hold the majority ownership. “We believe in the future of these businesses and intend to remain an investor and partner,” Wentworth stated. “But as part of our persistent focus on value creation... Read More »
Sendero Capital & TPG Angelo Gordon acquire Wellesley, MA Medical Outpatient Building
Sendero Capital and TPG Angelo Gordon announced a joint venture to acquire a Wellesley, Massachusetts medical outpatient building (MOB) for $24.3 million. Newmark arranged the transaction. The building, anchored by Mass General Brigham and Tufts Medicine, spans 67,264 square feet and serves various medical specialties. The price is approximately $361 per square foot. Sendero Capital is a privately held real estate investment, development and advisory firm based in Boston, Massachusetts. The principals of the firm have decades of experience investing in, developing and managing large portfolios of real estate across the United States, including millions of square feet in... Read More »Schedule a demo
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