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Notable PE Activity During May 2024

Notable PE Activity During May 2024

May 2024 was an active month for the private equity (PE) healthcare M&A market. LevinPro HC data shows that approximately 36% of healthcare deals announced during the month (53 of 146) involved PE acquirers and/or their portfolio companies. Although this is a small decline from May 2023, when 42% of healthcare deals announced involved PE, it is still a slight increase from the 35% of private equity transactions announced during April 2024. This report dives into some of the most significant PE transactions in healthcare during May 2024, highlighting the key PE players and/or their portfolio companies and their recent moves in the healthcare M&A market. KKR: KKR remained a major... Read More »
SGMC Health Expands Physician Network Via Acquisition

SGMC Health Expands Physician Network Via Acquisition

SGMC Health ended May 2024 by announcing the expansion of its SGMC Physician Network via the acquisition of the Urology Clinic of Valdosta (UCV). According to data captured in the LevinPro HC database, this acquisition represents the 216th Physician Medical Group transaction of 2024, and the third in the urology specialty. UCV was founded in 1989 to provide patients with urological health care in Valdosta, Georgia and the surrounding counties. According to its website, the company has two providers on staff. Opening as Pineview Hospital in 1955 and known as South Georgia Medical Center since 1971, SGMC Health is a not-for-profit comprehensive health system serving South Georgia and North... Read More »
HealthyU Clinics Acquires Ma’am Exams

HealthyU Clinics Acquires Ma’am Exams

HealthyU Clinics announced on May 30 the acquisition of Ma’am Exams, a women’s health clinic in Gilbert, Arizona. Ma’am Exams offers medical care for women, from adolescence and young adulthood through post-childbearing years and menopause. The all-female staff offers 2D and 3D mammograms, ultrasounds, lab services, medical spa services, mental health services and more. HealthyU Clinics is a physician-led and professionally managed medical group that provides integrated primary and specialty care services in Arizona and California. The acquired medical office will retain all 20 staff members, including five nurse practitioners, and welcome additional medical professionals who are committed... Read More »
Ascend Plastic Surgery Partners Adds Tallahassee Plastic Surgery Clinic to Network

Ascend Plastic Surgery Partners Adds Tallahassee Plastic Surgery Clinic to Network

Ascend Plastic Surgery Partners, an Atlanta-based management services organization, announced the addition of Tallahassee Plastic Surgery Clinic to its network of practices. Tallahassee Plastic Surgery Clinic provides aesthetic and reconstructive surgery in Tallahassee, Tennessee. According to its website, the practice has three plastic surgeons on staff. Ascend Plastic Surgery Partners was formed by private equity firm Sheridan Capital Partners in October 2023. The plastic surgery firm has practices in Birmingham, Alabama, Tuscaloosa, Alabama, Greenville, South Carolina, Lindon, Utah and Las Cruces, New Mexico. Tallahassee Plastic Surgery Clinic was advised by Physician Growth Partners.... Read More »
HouseWorks Expands Northeastern Footprint With Acquisition

HouseWorks Expands Northeastern Footprint With Acquisition

HouseWorks announced that it has acquired AccordCare’s personal care division in Connecticut, which operates under the brands Companions & Homemakers and Companions Forever. The deal will mark HouseWorks entry into Connecticut, and further expand its footprint in the Northeast. AccordCare originally acquired Companions Forever in December of 2020, and then acquired Companions & Homemakers in October of 2022. The Companions & Homemakers and Companions Forever businesses are entirely driven by Medicaid home- and community-based services business. Founded in 1998, HouseWorks provides in-home care services in Maine, Massachusetts, New Hampshire, New York, Pennsylvania, Tennessee... Read More »
PE Firm GTCR Acquires Surmodics for Approximately $627 Million

PE Firm GTCR Acquires Surmodics for Approximately $627 Million

Surmodics, Inc. announced on May 29 that it has entered into a definitive agreement to be acquired by GTCR, a leading private equity firm with a long track record of investment expertise across healthcare and healthcare technology. Under the terms of the agreement, affiliates of GTCR will acquire all outstanding shares of Surmodics. Surmodics shareholders will receive $43.00 per share in cash, for a total equity valuation of approximately $627 million. Surmodics is an Eden Prairie, Minnesota-based provider of performance coating technologies for intravascular medical devices and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays. Surmodics also... Read More »
Stockdale Capital Partners Acquires Austin, TX Medical Outpatient Building

Stockdale Capital Partners Acquires Austin, TX Medical Outpatient Building

Stockdale Capital Partners announced that it acquired a newly built, five-story medical outpatient building (MOB) in Austin, Texas, which first opened in 2023. The MOB, adjacent to Dell Children’s Medical Center, has 129,382 square feet of rentable office space and is part of Mueller Austin, a 700-acre master-planned community. Stockdale Capital Partners is a Los Angeles-based vertically integrated real estate investment firm. The company provides real estate investment services, as well as invests, owns and operates multiple asset classes. “Stockdale is excited about the acquisition of this Class-A medical office building strategically located near the Dell Children’s Medical Center in... Read More »
Apex Physics Partners Deepens National Footprint With New Partnership

Apex Physics Partners Deepens National Footprint With New Partnership

Private equity-backed Apex Physics Partners (APP) announced that it has partnered with Spectrum Medical Physics Inc, headquartered in Lima, Ohio. Spectrum Medical Physics was incorporated in 2000 to provide radiation oncology physics and dosimetry support to radiation oncology facilities in West Central Ohio. The company operates a training and residency program in therapy medical physics. APP is a medical physics business services support organization. Partner physics practices receive an array of support services including client services, information technology and data analytics. APP is backed by Blue Sea Capital, a West Palm Beach-based private equity firm with more than $1.4 billion... Read More »
Goldman Sachs Alternatives Acquires Xpress Wellness from Latticework Capital Management

Goldman Sachs Alternatives Acquires Xpress Wellness from Latticework Capital Management

Latticework Capital Management and Goldman Sachs Alternatives jointly announced on May 23 Goldman Sachs’ acquisition of Xpress Wellness, LLC. Terms of the transaction were not disclosed. Xpress Wellness, along with its subsidiary, Integrity Urgent Care, provides healthcare services to rural and underserved communities across Oklahoma, Kansas and Texas. The company’s multi-specialty model is primarily focused on urgent care and additionally provides employer and workers’ compensation services, behavioral health counseling, primary care and facility-based services. Xpress Wellness currently operates 58 clinics, 39 of which are certified Rural Health Clinics. Goldman Sachs is one of the... Read More »
Pathways Recovery Centers Adds Serenity Park Recovery Center

Pathways Recovery Centers Adds Serenity Park Recovery Center

Pathways Recovery Centers has announced the addition of Serenity Park Recovery Center in Little Rock, Arkansas, to its growing roster of mental health and addiction treatment programs. Financial terms of the deal were not disclosed. Founded in 1972, Serenity Park Recovery Center offers addiction recovery in Arkansas. Previously known as Serenity House, the facility was one of the first in Arkansas to offer a gender-specific program for women. It moved to its current location in Little Rock in 1990, and was acquired by businesswoman Tara Tinnin in 2018. Pathways Recovery Centers offer men and women the opportunity to find freedom from addiction and mental health challenges. The organization... Read More »