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An Overview of the Internal Medicine M&A Market

An Overview of the Internal Medicine M&A Market

The internal medicine specialty, within the Physician Medical Group (PMG) sector, isn’t particularly known for its M&A activity. In fact, it’s considered one of the less active subsectors, averaging approximately 8% of the PMG totals. Yet, internal medicine’s M&A volume has increased substantially between 2018 and 2023, making it an interesting specialty to look into.  According to data captured in the LevinPro HC database, in 2018, eight eight internal medicine transactions were reported, which more than doubled in 2019 and 2020 when 19 and 25 deals were reported, respectively. There was another surge of deal activity in 2021 with 40 transactions and a slight increase to 41... Read More »
MB2 Dental Acquires Scheich Family Dentistry 

MB2 Dental Acquires Scheich Family Dentistry 

On May 7, MB2 Dental Solutions announced that it was expanding its presence in Colorado with the acquisition of Scheich Family Dentistry.  Scheich Family Dentistry is a dental practice with one location in Castle Pines, Colorado. According to its website, the practice is run by a dedicated team of three providers.  MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners since February 2021, partners with dentists and specialists. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic dentistry and oral surgery.  This transaction marks MB2’s 25th acquisition of 2024, expanding its presence by... Read More »
Thomas H. Lee Partners Acquires Agiliti for $2.5 Billion 

Thomas H. Lee Partners Acquires Agiliti for $2.5 Billion 

Thomas H. Lee Partners, L.P. (THL) announced that it acquired the remaining share of Agiliti, Inc. for $10.00 per share, implying a total enterprise value of $2.5 billion.  Agiliti is an essential service provider to the U.S. healthcare industry with solutions that help support a more efficient, safe and sustainable healthcare delivery system. Agiliti serves more than 10,000 national, regional and local acute care and alternate site providers across the country. According to the company’s financial statements, it reported $1.2 billion in revenue for the full year 2023.   THL is one of the world’s oldest and most experienced private equity firms. Since 1974, it has... Read More »
Heartland Dental Acquires Macedonia Dental Arts 

Heartland Dental Acquires Macedonia Dental Arts 

On May 6, Heartland Dental, a portfolio company of KKR & Co. announced that it expanded its presence in Ohio with the acquisition of Macedonia Dental Arts. According to data captured in the LevinPro HC database, this transaction represents the 187th Physician Medical Group acquisition of 2024, 91 of them in the dental specialty.   Macedonia Dental Arts is a dental practice with one location in Macedonia, Ohio. It is run by Dr. Ronald W. Simonsen.  Heartland Dental is a dental support organization providing non-clinical, administrative support services with more than 2,600 doctors in more than 1,650 locations across 38 states.   This transaction marks Heartland Dental’s... Read More »
Medline Acquires Ecolab’s Surgical Solutions Business for $950 Million 

Medline Acquires Ecolab’s Surgical Solutions Business for $950 Million 

Medline Industries announced that it was acquiring Ecolab’s surgical solutions business for $950 million. The deal encompasses the entire portfolio of products from Ecolab’s Microtek Medical line, which includes a variety of common hospital sanitation and personal protective equipment for healthcare workers.   Medline Industries is a global manufacturer and distributor of medical supplies and clinical solutions. Headquartered in Northfield, Illinois, Medline has more than 34,000 employees worldwide and does business in more than 125 countries and territories.  This deal will provide Medline with sterile drape solutions for surgeons and Ecolab’s fluid temperature management... Read More »
Arbor Biotechnologies Acquires Serendipity 

Arbor Biotechnologies Acquires Serendipity 

Arbor Biotechnologies announced on May 8 that it entered into an agreement to acquire Serendipity Biosciences. The financial terms were not disclosed.  Serendipity Biosciences is a private biotechnology company focused on the discovery of unique gene editing technologies. Serendipity’s novel editing technologies were discovered in the lab of leading gene editing researcher and Arbor Biotechnologies co-founder, Feng Zhang, of the McGovern Institute for Brain Research at MIT and the Broad Institute of MIT and Harvard.  Arbor Biotechnologies is a next-generation gene editing biotechnology company based in Cambridge, Massachusetts. It is focused on discovering and developing... Read More »
Smile Partners USA Expands in Georgia and Illinois 

Smile Partners USA Expands in Georgia and Illinois 

Smile Partners USA has announced that it acquired two dental practices: Family Dental Group and Petrie, Storer & Associates.  Family Dental Group is a family dental practice in Decatur, Georgia. According to its website, there are four providers on staff.  Petrie, Storer & Associates is a dental practice with one location in Chicago, Illinois. According to its website, the practice is run by a team of three providers.  Smile Partners USA is a management support organization that offers back-office resources and services to premier, independent private dental practices and boutique group practices throughout Michigan, Georgia, Illinois and Alabama. It is backed by... Read More »
PromptCare Acquires Coastal Infusion Services 

PromptCare Acquires Coastal Infusion Services 

On April 6, PromptCare, a portfolio company of The Halifax Group, announced that it was expanding its infusion services with the acquisition of Coastal Infusion Services. According to data captured in the LevinPro HC database, this acquisition marks the third infusion services transaction of 2024.   Coastal Infusion Services provides at-home and alternate-site infusion services throughout the southern United States. It also cares for patients at six ambulatory infusion suites. It was founded in 2017 and is based in Baton Rouge, Louisiana.   PromptCare provides specialty respiratory products and infusion therapy services. Established in 1985 and headquartered in New... Read More »
Avel eCare Bolsters Telemedicine Offerings With Horizon Virtual Deal

Avel eCare Bolsters Telemedicine Offerings With Horizon Virtual Deal

Avel eCare continues to expand its nationwide leadership in telemedicine with the acquisition of Horizon Virtual. The deal marks Avel’s third acquisition since January 2023 as the company continues its aggressive growth strategy into 2024. Horizon Virtual is a Minnesota-based virtual hospitalist services provider offering telehealth admission and telemedicine coverage to hospital patients. Avel eCare offers one of the largest and most comprehensive virtual health networks in the world. Since 1993, Avel physicians and clinicians have partnered with more than 650 healthcare systems, rural hospitals, outpatient clinics, long-term care facilities, schools and correctional facilities... Read More »
PE Firm KKR Picks up Bengaluru-based Healthium

PE Firm KKR Picks up Bengaluru-based Healthium

KKR & Co. announced on Monday its acquisition of Bengaluru, India-based medical devices company Healthium Medtech from an affiliate of funds advised by private equity firm Apax Partners. Healthium was previously known as Sutures India. It is the leading medical device company in India that develops, manufactures and sells a broad range of surgical products globally. Its portfolio caters to a wide spectrum of surgeons’ needs, offering wound closure, arthroscopy, and advanced wound closure products. Healthium’s key brands include Trusynth, Truglyde, Trubond and Sironix. Apax Partners previously acquired the company in 2018. KKR is a leading global investment firm that manages multiple... Read More »