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Tri-Valley Medical Group Acquires Sequoia Health
On March 7 WaveEdge Capital LLC, an independent healthcare and life sciences investment bank, announced that it served as the exclusive sell-side M&A advisor to Sequoia Health in its sale to Tri-Valley Medical Group. Sequoia, one of the largest independent physician associations in central California, has more than 1,300 leading primary care and specialty physicians. It serves more than 145,000 patients annually and operates out of 27 locations in California. Tri-Valley Medical Group, a portfolio company of Massachusetts-based private equity firm Webster Equity Partners, is a physician platform that provides primary care and population health management services to... Read More »
Cedars-Sinai Acquires 2 California Orthopaedic Practices
Cedars-Sinai Health System announced that, through its affiliate Huntington Health, it is purchasing two well-known California-based orthopaedic practices: Risser Orthopaedic Group and Orthopaedic Associates Inc. Orthopaedic Associates Inc., founded more than 60 years ago, has 19 providers on staff. It operates out of Pasadena and Arcadia, California. Risser Orthopaedic Group has nine providers on staff. The practice also has one location in Pasadena and one in Arcadia. Established in 2017, Cedars-Sinai Health comprises Cedars-Sinai (Cedars-Sinai Medical Center and Cedars-Sinai Marina del Rey Hospital), Torrance Memorial Medical Center and their... Read More »
Kayne Anderson Acquires Telehealth Platform TeleMed2U
Kayne Anderson announced that it is acquiring a majority share of TeleMed2U through Kayne Anderson Growth Capital, its dedicated growth capital strategy. TeleMed2U is a leading provider of telemedicine solutions, based in Roseville, California. With more than 275 specialist care providers, TeleMed2U’s suite of telemedicine services engages patients across the healthcare continuum, offering outpatient care, inpatient services and asynchronous telemedicine across 20 specialties, including Behavioral Health, Endocrinology, Rheumatology, Infectious Diseases, Dermatology and more, regardless of the patient’s geographic location. Founded in 1984, Kayne Anderson Capital... Read More »
Private Equity Firm Frazier Healthcare Partners Picks Up RevSpring
Healthcare-focused private equity firm Frazier Healthcare Partners announced on March 12 the completion of its acquisition of RevSpring from Chicago, Illinois-based GTCR. Frazier is joined in the transaction by NEA, 22C Capital and RevSpring’s senior leadership team. RevSpring offers physical and electronic invoices, consumer payment portals, data cleansing solutions and analytics tools. It serves a client base of approximately 2,000 health systems and hospitals, revenue cycle management (RCM) providers and financial services organizations. The company was originally acquired by GTCR in November 2016. Frazier Healthcare Partners is a provider of growth capital to healthcare... Read More »
Fortrea Divests Assets to Arsenal Capital Partners for $345 Million
Fortrea, a Durham, North Carolina-based global contract research organization (CRO), is divesting certain assets to Arsenal Capital Partners for $345 million. The assets being divested relate to Fortrea’s Enabling Services segment, including the businesses Endpoint Clinical and Fortrea Patient Access. In 2023, Fortrea generated revenues of about $3.11 billion compared to about $3.1 billion the previous year, according to the original press release. Arsenal is a New York, New York-based private equity firm that specializes in investments in healthcare and industrial growth companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of more... Read More »
A Look at the Managed Care Public Market of 2023
The Managed Care sector witnessed a dynamic year in 2023, with key players navigating various challenges and opportunities. This analysis explores the financial trajectories of major companies, including Humana, Cigna, UnitedHealth Group, Elevance Health, Centene and Molina, shedding light on the trends, challenges and strategies currently shaping the market. Market Overview: Over the years, Managed Care companies have demonstrated resilience and growth. The market has consistently followed an upward trajectory, with most of the major players experiencing revenue growth each year. Source: Macrotrends UnitedHealth Group stands out as the revenue leader, with consistently strong revenue... Read More »
Carenet Health Acquires Assets of Health Dialog from Rite Aid
Carenet Health announced that it is acquiring Health Dialog, a wholly owned subsidiary of Rite Aid Corporation. This acquisition enables Carenet to leverage its combined platform, analytics and clinicians to deliver greater efficiency and outcomes-based financial performance for clients. Health Dialog is a leading provider of population health management solutions. The company works with the U.S.’s largest health plans, employers and providers to improve the health and wellness of their members, employees, patients and customers. Health Dialog’s capabilities include data analytics, a multi-channel coaching platform, shared decision-making tools and a 24/7 nurse... Read More »
Halma Expands Health Tech Portfolio With a More Than $90 Million Acquisition
Halma plc has announced the acquisition of Rovers Medical Devices BV, marking a significant step in expanding its healthcare technology offerings and driving innovation. The company is being acquired for an initial cash consideration of €85 million (approximately $91.8 million USD), with additional payments of up to €6 million (about $6.5 million) pending future performance. Rovers Medical Devices BV is involved in the development, production and world-wide sales of medical devices with a focus on cell sampling devices. The company had a revenue of €12 million (about $13 million USD) for the 12 months ending December 31, 2023, according to the original deal press release. Halma is a global... Read More »
Summit BHC Enters New England Market With Sobriety Centers of New Hampshire Acquisition
Summit BHC has announced its entry into the New England market with the acquisition of Sobriety Centers of New Hampshire (SCNH). Financial terms of the deal were not disclosed. SCNH operates addiction treatment facilities in New Hampshire. These centers provide a broad array of substance use disorder treatments and services, including detoxification, residential and various levels of outpatient programs. Summit BHC was founded in 2013 to develop and operate a network of leading addiction treatment and behavioral health centers throughout the United States. Including the newly acquired facilities, the company owns and operates 31 inpatient facilities across 19 states. Its services include... Read More »Schedule a demo
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