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Top M&A Trends in the 2023 Hospital Market
Introduction & The Numbers The Hospital sector saw a great deal of flux in 2023. Despite numerous macroeconomic and regulatory headwinds, year-over-year deal activity increased by approximately 10%, hitting 75 deals. For context, before COVID-19 rattled the industry, there were 96 hospital acquisitions and mergers in 2019. The market is on the rebound, but we’re still short of pre-pandemic levels. Deal volume only tells part of the story, however. A year with 75 health system mergers is very different than 75 acquisitions of single-facility organizations in distress, for example. There was still a mix of large and small mergers, but the M&A market is becoming more top-heavy. “We’re... Read More »
U.K.-Based Six Physio Acquires Chelsea Home Physio
Six Physio acquired home physiotherapy provider Chelsea Home Physio for an undisclosed sum. The deal was announced on LaingBuisson News on January 29, 2024. Headquartered in London, Chelsea Home Physio provides physiotherapy in the convenience of the client’s own home, work/community or in their care home. Founded in 1996, Six Physio operates nine physiotherapy clinics throughout London. The company was purchased by Ascenti in December 2022. The deal marks Six Physio’s first acquisition since it was bought by Ascenti and expands its presence in London, where it now operates ten clinics with more than 80 specialist physiotherapists. According to data captured... Read More »
First Coast Cardiovascular Institute Partners With CardioHealth
First Coast Cardiovascular Institute (FCCI), a Cardiovascular Logistics partner practice, has joined forces with CardioHealth. Together, they aim to advance cardiovascular care across Northeast Florida. CardioHealth is a Jacksonville, Florida-based cardiovascular practice that specializes in delivering exceptional care to patients with hypertension, congestive heart failure, atrial fibrillation and valvular heart disease. According to its website, the practice has one provider on staff. FCCI offers cardiovascular medicine, sleep medicine, pulmonology and amputation prevention to residents in Northeast Florida and Southern Georgia. In this partnership, FCCI will integrate... Read More »
SightMD New York Acquires Clearview Eye Surgery
SightMD New York announced on January 25 that it acquired Clearview Eye Surgery. Clearview Eye Surgery provides eye surgery services out of three locations in New York. According to its website, the practice has five providers on staff. Part of SightMD’s network, which is backed by Chicago Pacific Founder, SightMD New York is an integrated ophthalmic provider group, offering patients access to more than 80 eye care providers through the convenience of more than 40 locations across New York. This is SightMD’s first acquisition of 2024. The financial terms were not disclosed. According to data captured in the LevinPro HC database, this acquisition... Read More »
Medical Mutual Acquires Paramount Health from ProMedica
Medical Mutual announced on January 29 that it entered into an agreement to acquire Paramount Health Care from ProMedica. Paramount Health Care is a health insurance company located in Ohio. Established in 1988, Paramount offers insurance products to individuals and employers across six Midwest states and serves more than 77,000 health plan members and 308,000 dental plan members. Medical Mutual is one of the largest health insurance companies in Ohio, serving more than 1.6 million members with group and personal health insurance plans, and third-party administrative services to self-insured group customers. ProMedica is a not-for-profit health and well-being organization... Read More »
Humana Takes Hit in 2024 Amid Surge in Medical Costs
Humana announced its earnings and revenue for the fourth quarter of 2023 on January 25, 2024. The company reported $106.4 billion in revenue and $2.5 billion in profit for the full year 2023. While revenue grew about 15% compared to 2022, when it reported $92.9 billion, profits declined slightly year-over-year from $2.8 billion. The health insurer is bracing for an “unprecedented” surge in medical costs, impacting its earnings throughout 2024 and also putting its 2025 profit target of $37 per share out of reach. Medical costs for health insurers were elevated during 2023, and picked up even more during Q4 as people, especially older adults, returned to the hospitals... Read More »
Northwell Health Acquires 2 Dental Practices
Northwell Health announced that it purchased two dental practices in New York for an undisclosed price. Distinctive Dental Services of New York, PC is based in Great Neck, New York. According to its website, the practice has five physicians on staff. Leonard Patella, DDS is a dentist operating out of Garden City, New York. Dr. Patella is the only provider on staff. Northwell Health, which changed its name from North Shore-LIJ Health System in 2015, is New York state’s largest healthcare provider and private employer. It has 23 hospitals, more than 830 outpatient facilities in the New York MSA and more than 79,000 employees as of 2022. The new locations expand... Read More »
Sciensus Acquires Cancer Patient Support Tool Vinehealth
Sciensus announced that it has reached an agreement to acquire Vinehealth, a market-leading cancer patient and physician support tool. The addition of Vinehealth further expands Sciensus’s digital platform. Vinehealth is a cancer support app that empowers cancer patients by enabling them to track, manage and understand their symptoms. The platform creates valuable connectivity with clinical stakeholders, generating actionable insights to optimize clinical decision-making and treatment management. Sciensus is a pharmaceutical services business established in 1992. The company manages the complex medicine needs of more than 250,000 chronic, rare and cancer patients in the United Kingdom and... Read More »
HEALWELL AI Acquires Intrahealth From WELL Health Technologies
HEALWELL AI announced on January 25 that it is acquiring 100% of the shares outstanding of Intrahealth from WELL Health Technologies for a total consideration of approximately $24.2 million. A majority of the consideration is expected to be paid in HEALWELL Class A subordinate voting shares. The transaction is expected to close on or about February 1, 2024. Intrahealth is a privately held company that develops, licenses, supports and sells electronic health record (EHR) software, medical practice management software and related services. The company provides services to small and medium enterprise healthcare organizations across Canada, Australia and New Zealand. Founded in... Read More »Schedule a demo
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