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Ascend Capital Partners Acquires Seoul Medical Group
Ascend Capital Partners, a healthcare-focused private equity firm, announced on October 3 its majority acquisition of Seoul Medical Group (SMG). Founded in 1993, SMG is one of the largest Korean-American-focused independent physicians associations serving more than 70,000 patients across California, Georgia, Hawaii, New Jersey, New York, Virginia and Washington. According to its website, the practice has more than 2,000 physicians on staff, composed of more than 400 primary care physicians. It also owns Advanced Medical Management, a management service organization providing comprehensive administrative services to SMG’s network physicians. Ascend Capital Partners,... Read More »
Eton Pharmaceuticals Acquires New Drug Application
On October 4, Eton Pharmaceuticals, Inc. announced it entered into an agreement to acquire an abbreviated new drug application for Nitisinone Capsules from Oakrum Pharma, LLC. This transaction is part of Oakrum Pharma’s Chapter 11 bankruptcy proceedings. Nitisinone Capsules were approved by the FDA in May 2023 for the treatment of hereditary tyrosinemia type 1 (HT-1) in combination with dietary restriction of tyrosine and phenylalanine. Oakrum Pharma is a biopharmaceutical company focusing on development and commercialization of affordable drug therapies Eton Pharmaceuticals is an innovative pharmaceutical company focused on developing, acquiring and commercializing products to address... Read More »
PE-Backed Commure Merges with Athelas
Commure, Inc., a portfolio company of private equity firm General Catalyst, and Athelas announced on October 4 that they have entered into a definitive agreement and expect the combined merger to close by the end of October 2023. According to data captured in the LevinPro HC database, this acquisition represents the 208th eHealth transaction of 2023 and the 46th in the revenue cycle management (RCM) specialty. Athelas is a Mountain View, California-based provider of healthcare workflow automation software and RCM services. Founded in 2016, Athelas is integrated with all major electronic health records and offers artificial RCM, remote monitoring and patient engagement tools.... Read More »
Froedtert Health Acquires Ascension Wisconsin’s Stake in Network Health
Froedtert Health announced on October 3 that it is acquiring the remaining 50% stake in Network Health from Ascension Wisconsin. According to data captured in the LevinPro HC database, this transaction is the 21st Managed Care acquisition of 2023. Based in Menasha, Wisconsin, Network Health offers customized commercial and Medicare health insurance plans for employers, individuals and families in 23 counties throughout Wisconsin. Froedtert Health is part of the Froedtert & the Medical College of Wisconsin regional health network. It includes five hospitals, a community hospital with two locations, more than 2,000 physicians and more than 45 health centers and clinics. ... Read More »
Solaris Health Adds Urologic Specialists of Northwest Indiana
Solaris Health, a portfolio company of private equity firm Lee Equity Partners, announced on October 3 that Urologic Specialists of Northwest Indiana has joined as an affiliate. According to data captured in the LevinPro HC database, this transaction represents the 411th Physician Medical Groups transaction of the year, and the fifth in the urology specialty. Urologic Specialists of Northwest Indiana provides state-of-the-art urological services with a strong emphasis on patient education. According to its website, Urologic Specialists has 12 providers on staff, caring for more than 22,000 patients annually. Solaris Health is a national healthcare platform committed to... Read More »
Intrepid Advises Prime Providers on Its Acquisition of Right Choice In-Home Care
Intrepid Investment Bankers announced on October 3 that it served as exclusive financial advisor to Prime Provider on its acquisition of Right Choice In-Home Care. Intrepid structured and negotiated a financing package from Firmament, a New York-based investment firm, to support this acquisition. Right Choice In-Home Care serves Canoga Park, California and the surrounding area. Right Choice provides personal care and respite care services to patients with intellectual and developmental disabilities in California. Prime Providers is a home healthcare platform founded in 2018 by Pine Street, an investment firm led by Jonathan Sassover and Michael Davidov. The combined... Read More »
Eli Lilly Acquires POINT Biopharma Global For $1.4 Billion
Eli Lilly and Company announced on October 2 that it acquired POINT Biopharma Global, Inc. for approximately $1.4 billion. Lilly will commence a tender offer to acquire all outstanding shares of POINT for a purchase price of $12.50 per share in cash payable at closing. The price represents a premium of approximately 87% to POINT’s closing stock price on Oct. 2, 2023, the last trading day before the announcement of the transaction was made, and 68% to the 30-day volume-weighted average price. POINT Biopharma Global is a globally focused radiopharmaceutical company building a platform for the clinical development and commercialization of radioligands that fight... Read More »
AirLife Acquires Avanos Medical’s Respiratory Assets
AirLife, based in Grand Rapids, Michigan, announced its acquisition of Avanos Medical, Inc.’s Respiratory health business on October 2. Goodwin Procter LLP is acting as legal counsel to AirLife. Terms were not disclosed. Avanos Medical’s respiratory health business includes BALLARD, MICROCUFF and the endOclear® product lines. AirLife is also purchasing two of Avano’s manufacturing facilities. Avanos Medical is a medical technology company focused on delivering clinically superior medical device solutions. Its services include providing a vital lifeline for nutrition to patients from hospital to home and reducing the use of opioids while helping patients move from... Read More »
Navigating Labor Headwinds in Home Health
More than three-quarters of Americans ages 50 and older want to age in place, according to an AARP survey. This comes as The U.S. Administration on Community Living projects the number of Americans aged 65 and older will rise to 80.8 million by 2040, creating significant demand for home health delivery models in the United States. But now, with the HH&H sector approaching a projected global shortage of 10 million health workers by 2030, according to the World Health Organization, the labor issues we’re already seeing in the space are only going to worsen. The labor issues have profound implications for M&A activity within the sector. According to LevinPro HC data, deal volume in... Read More »Schedule a demo
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