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Flagship Acquires MOB in Chapel Hill, North Carolina
Flagship Healthcare Properties announced that it has acquired a Class A, medical office building (MOB) in Chapel Hill, North Carolina through its private real estate investment fund, Flagship Healthcare Trust. The 20,878-square-foot MOB was originally built in 2003, and the building is anchored by Chapel Hill Pediatrics, Chapel Hill Pediatric Psychology and Chapel Hill Pediatric Dentistry. The property is located near the combined 1,048-bed Duke University Hospital and Duke Regional Hospital and 900-bed UNC Medical Center. Flagship Healthcare Properties is an outpatient healthcare real estate firm serving clients in the southern United States. Headquartered in Charlotte, North... Read More »
Healthpeak Properties and Physicians Realty Trust Announce $21 Billion Merger
Healthpeak Properties and Physicians Realty Trust announced on October 30 that they have entered into a definitive agreement to combine in an all-stock merger of equals valued at approximately $21 billion. According to data captured in the LevinPro HC database, this transaction marks the second largest healthcare transaction of 2023 by purchase price, behind Pfizer’s $43 billion acquisition of Seagen Inc. announced in March. Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. According to its 2022 financial... Read More »
TT Capital Partners Announces Investment in Cantata Health Solutions
Minneapolis-based TT Capital Partners has announced a majority investment in Cantata Health Solutions, headquartered in Austin, Texas. Cantata Health Solutions provides healthcare technology solutions for organizations in behavioral health, human services, acute care and post-acute care. Cantata offers a complete platform, including an integrated electronic health records system, revenue cycle management and a suite of clinical solutions that are fully configurable. Cantata is installed in more than 280 healthcare facilities across 45 states, as well as Canada, the Bahamas, Puerto Rico and Guam. TT Capital Partners is a leading healthcare private equity investor, providing... Read More »
Beckley Waves Acquires Nue Life
Beckley Waves has announced the strategic acquisition of Nue Life, a leading ketamine-assisted therapy provider. Beckley Waves plans to continue Nue Life’s work to provide scalable access to ketamine-assisted therapy, with an emphasis on underserved areas. Nue Life is a U.S.-based telemedicine startup that combines psychedelic-assisted therapies and a health-tracking app. Nue Life has provided at-home ketamine therapy to more than 10,000 patients across 23 U.S. states since 2021. Beckley Waves, a U.K.-based venture studio co-founded by Amanda Feilding, builds and supports the companies and infrastructure needed for the delivery of new psychedelic medicines. As part of the... Read More »
Danaher Disappoints with Q3:23 Sales and Profit Decline
Danaher Corp. (NYSE: DHR), a well-known player in the medical device market, recently unveiled its third-quarter financial results on October 24. With a global presence, Danaher specializes in the design, manufacture and distribution of professional, medical, industrial and commercial products and services. The latest earnings report painted a somber picture for Danaher, as the company grappled with a decline in both sales and profits compared to the previous year. This underwhelming performance came as the pharma and biotech sectors experienced a broader loss of momentum in critical markets. “Pharma and biotech took a modest step down, and that was particularly the case in the U.S. In... Read More »
Northwest Georgia Medical Clinic Merges with Atrium Health Floyd
Atrium Health Floyd announced on October 23 its merger with Northwest Georgia Medical Clinic. Founded in 1976, Northwest Georgia Medical Clinic offers obstetrical, gynecological and family medicine services from one location in Rome, Georgia. According to its website, the practice has 14 providers on staff. Part of Advocate Health Care, which is the third-largest nonprofit health system in the United States, Atrium Health Floyd is a leading medical provider in northwest Georgia and northeast Alabama. Atrium Health Floyd employs more than 3,500 people who provide care across more than 40 medical specialties at three hospitals: Atrium Health Floyd Medical Center, Atrium Health... Read More »
TenX Keane Acquires Citius Pharmaceuticals
On October 24, TenX Keane Acquisition, a special purpose acquisition company (SPAC), announced that it entered into an agreement with Citius Pharmaceuticals, Inc. to acquire Citius’ oncology subsidiary. The transaction is valued at $675 million. Citius Pharmaceuticals is a late-stage biopharmaceutical company focused on the development and commercialization of first-in-class critical care products. The company has a pipeline of anti-infectives in adjunct cancer care, stem cell therapy and unique prescription products. According to Citius’ financial reports, it did not generate any revenues for both years ended September 30, 2022 and September 30,2021. TenX is led by... Read More »
Akumin Files for Bankruptcy to Eliminate $470 Million in Debt
Radiology provider Akumin announced that it has filed for Chapter 11 bankruptcy protection in a bid to eliminate a debt of $470 million, as reported by Radiology Business. Akumin’s approach is to convert this debt into common shares of the company’s stock, which will be owned by their lender, Stonepeak. As part of this restructuring, Akumin will transition from a publicly traded entity to a privately held company, bolstered by an infusion of $130 million in new investment from Stonepeak. The decision marks the conclusion of a period of financial turmoil for Akumin, which saw the value of its stock plummet by more than 80% in the past year. This crisis was exacerbated by... Read More »
TriSpan Acquires SmartArches
TriSpan announced its acquisition of SmartArches from ProSmile, a multi-specialty dental organization in New Jersey, Pennsylvania and Maryland. Founded in December 2022, SmartArches is a specialty implant-focused dental company with a network of oral surgeons, implant and restorative dentists. It serves patients in eight locations throughout the United States. With offices in New York and London, TriSpan is a private equity firm that invests in lower middle market companies in North America, Europe and the United Kingdom with annual revenues ranging from $20-100 million. It was founded in 2015. According to data captured in the LevinPro HC database, this transaction... Read More »Schedule a demo
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