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Top 5 Home Health & Hospice Deals of 2023
The Home Health & Hospice (HH&H) market experienced a decline in deal activity, totaling 95 transactions, compared to the 113 announced in 2022. The deals were evenly distributed throughout the year, with 47 deals announced in the first half of 2023, and 48 deals announced in the second half. However, the larger transactions were announced at the start of the year, with approximately $4.7 billion in announced spending during the first half, and only $32 million announced during the second half, when there were much smaller deals and only one disclosed price. While large buyers dominated the start of the year, smaller buyers took the lead in the latter half. Here are the top... Read More »
Madison River Capital Makes Strategic Investment Into Senior Care Therapy
Madison River Capital (MRC), a New York-based private equity firm, announced that funds affiliated with MRC have made a strategic investment into Senior Care Therapy. Senior Care Therapy is a provider of patient-centered psychology and mental health services to the geriatric population in sub-acute, long-term care and assisted living communities. The company was founded in 2008 and has grown to be a leading provider of critical mental health services within more than 300 facilities across multiple states. MRC is focused on partnering with founders and building leading businesses across a variety of industries, with a focus on healthcare and industrials. After founding and... Read More »
Karl Storz Acquires U.K.-Based AI Software Company Innersight Labs
Karl Storz announced on January 10 the acquisition of Innersight Labs, headquartered in London. Innersight Labs is a British company founded in 2015. The company developed Innersight3D, a software-only product that allows surgeons to create a patient-specific 3D model from a medical CT or MRI scan. ISL labels the received scans according to different tissue types and creates an interactive 3D model that can be accessed and interacted with via a web link sent to the physician. Karl Storz is a German medical device company that manufactures and sells endoscopes and surgical instruments. It was founded in Tuttlingen, Germany by Dr. Karl Storz in 1945. The company is privately... Read More »
New Day Healthcare Acquires Compassion Hospice in Texas
New Day Healthcare has announced its first acquisition of 2024. The company has acquired Texas-based Compassion Hospice for an undisclosed amount. Founded in 2007, Compassion Hospice provides hospice care in the Southeast Texas area. New Day Healthcare was formed in 2020 by G. Scott Herman and a group of home health, home care and hospice leaders. New Day Healthcare is committed to building a home care delivery network focused on managing the fragmented home care environment and delivering a continuum of care to patients in need. New Day has 29 locations across Texas, Missouri, Kansas and Illinois. The company’s nearly 6,500 employees serve close to 100,000 patients annually across... Read More »
RTI Surgical Announces Agreement to Acquire Cook Biotech from Cook Group
RTI Surgical announced that it has signed a definitive agreement to acquire Cook Biotech from Bloomington, Indiana-based Cook Group. Founded in 1995, Cook Biotech develops and manufactures porcine small intestinal submucosa (SIS) products for a variety of clinical applications; these products have over 50 cleared regulatory indications. Cook Biotech’s products are derived from SIS’s naturally occurring, intact extracellular matrix using proprietary manufacturing processes. This material acts as a scaffold that allows host cells to infiltrate and remodel into vascularized tissue. The company is headquartered in West Lafayette, Indiana. RTI Surgical is a medical... Read More »
SportsMed Physical Therapy Acquires Red Bank Physical Therapy
SportsMed Physical Therapy, a portfolio company of private equity firm Hildred Capital Management, announced on January 9 that it was acquiring Red Bank Physical Therapy. Red Bank Physical Therapy has been providing rehabilitation and physical therapy services in Monmouth County, New Jersey since 1991. Founded in 2004, SportsMed Physical Therapy is a physical therapy-focused physician practice management company, with 33 clinics that provide physical therapy, chiropractic, acupuncture and occupational therapy services. It is based in Glen Rock, New Jersey. The financial terms of the transaction were not disclosed. This is SportsMed Physical Therapy’s first... Read More »
Schweiger Dermatology Group Acquires United Skin Specialists
Brown Gibbons Lang & Company announced that it acted as an advisor to Schweiger Dermatology Group (SDG) in the acquisition of United Skin Specialists LLC. Tonka Bay Equity Partners LLC, a venture capital and private equity firm based in Minnetonka, Minnesota, was the seller. United Skin Specialists is a healthcare practice management group providing services to dermatology offices in the Midwest. The company has been providing patient-centric medical and cosmetic dermatology care in Illinois, Minnesota and Missouri for more than 50 years. It has 10 office locations. Founded in 2010, SDG is one of the largest group dermatology practices in the Northeast, with 110 offices and... Read More »
Albaron Partners Sells Beyond Podiatry
On January 9 it was announced that Albaron Partners LP, a middle market private equity firm, was selling Albaron Podiatry Holdings LLC d/b/a Beyond Podiatry to CUC, Inc. The transaction was valued at $87 million. Beyond Podiatry is one of the largest podiatry practice management organizations in the Midwest. In 2022 and 2023, the company purchased one practice each year. CUC is a publicly traded Japanese company that offers healthcare services in Asia and across the globe. It provides hospital care, dialysis care, visiting nurses and home hospices services, as well as management support services for healthcare institutions. This is the first U.S. acquisition for CUC.... Read More »
PE-Backed Elevate Patient Financial Solutions Acquires Professional Medical Services
Elevate Patient Financial Solutions, backed by private equity firms Frazier Healthcare Partners and The Edgewater Funds, announced on January 9 the acquisition of Professional Medical Services. Professional Medical Services is a provider of revenue cycle management (RCM) solutions focused on low-balance accounts receivable resolution. The company was founded in 1991 and is based in Fort Worth, Texas. Elevate Patient Financial Solutions delivers RCM solutions to hospitals, health systems and health providers nationwide. The acquisition will expand Elevate’s suite of RCM solutions and reinforce its commitment to addressing the most complex aspects of the revenue cycle for... Read More »Schedule a demo
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