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Healthcare M&A Volume Falls in Q3:23, According to Acquisition Data from LevinPro HC

Healthcare M&A Volume Falls in Q3:23, According to Acquisition Data from LevinPro HC

Health care merger and acquisition activity declined in the third quarter of 2023, dropping to 497 deals, according to new acquisition data from LevinPro HC. Activity in the third quarter was 16% lower than in the second quarter, when 598 transactions were announced. Compared with the third quarter of 2022, activity fell 19% in the third quarter of 2023. The slowdown was felt across each healthcare vertical. Activity in sectors such as Physician Medical Groups saw significant declines in M&A volume, with 120 deals, a 20% decrease compared to the previous quarter. Demand for healthcare real estate, such as medical office buildings and properties, has driven high deal volume in the Other... Read More »
Montecito Medical Completes Acquisition of Seven-Building Portfolio in South Carolina

Montecito Medical Completes Acquisition of Seven-Building Portfolio in South Carolina

Montecito Medical Real Estate announced on October 16 the completion of its acquisition of seven medical office buildings (MOB) in upstate South Carolina.  Concentrated in the Greenville and Clemson market areas, the seven properties represent a combined total of more than 88,000 square feet and are 100% occupied. Six of the buildings are occupied by Clemson Eye, a leading provider of eye health in upstate South Carolina. Carolinas Centers for Sight tenants the seventh property. Both practice groups are affiliated with Eye Centers of America.  Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across... Read More »
SPAC Aimfinity Investment Corp. I to Merge with Taiwanese Developer Docter Inc.

SPAC Aimfinity Investment Corp. I to Merge with Taiwanese Developer Docter Inc.

Aimfinity Investment Corp. I, a Cayman Islands-incorporated special purpose acquisition company (SPAC) listed on the Nasdaq Global Market, and Docter Inc. announced that they have entered a definitive merger agreement. As part of the agreement, a newly established subsidiary of Aimfinity will become a publicly listed company on the Nasdaq combining Aimfinity and Docter upon the closing of the transaction.  Since 2016, Docter, along with its subsidiary, Horn Enterprise Co., Ltd., has been developing a non-invasive blood sugar trend monitoring technology, alleviating the necessity for blood sampling. The Taiwanese company operates Docter brand watches and employs Docter Cloud... Read More »
Headlands Research Continues Growth with Clinical Research Professionals Acquisition

Headlands Research Continues Growth with Clinical Research Professionals Acquisition

Headlands Research has announced the acquisition of Clinical Research Professionals, an established clinical research site based in the St. Louis, Missouri MSA. Clinical Research Professionals specializes in multiple therapeutic areas, including gastroenterology, neurology and vaccines.  Headlands Research, a portfolio company of KKR, is a globally integrated clinical trial site organization. With a multinational network of 17 clinical trial sites, Headlands Research has successfully completed more than 5,000 clinical trials.  The acquisition of Clinical Research Professionals expands Headlands Research’s geographic reach. This comes shortly after Headlands Research’s... Read More »
WellSky Acquires Corridor, Expands RCM Services for Post-Acute Industry

WellSky Acquires Corridor, Expands RCM Services for Post-Acute Industry

WellSky announced that it has acquired The Corridor Group from HealthEdge Investment Partners, a healthcare-focused private equity firm. By adding Corridor to its portfolio, WellSky will expand its medical coding and revenue cycle management (RCM) offerings to help post-acute care providers increase efficiency and improve performance across clinical, financial, operational and compliance areas.  Founded in 1989, Corridor is a provider of outsourced coding, RCM and education solutions to the post-acute healthcare industry. Corridor has delivered solutions to thousands of clients ranging from large health systems and national chains to smaller, independently operated agencies. ... Read More »
Sendero Capital and Angelo Gordon Acquire Torrington ASC

Sendero Capital and Angelo Gordon Acquire Torrington ASC

JLL Capital Markets announced that Sendero Capital and Angelo Gordon entered an agreement to acquire a 37,854-square-foot ambulatory surgical center (ASC) and outpatient medical building in Torrington, Connecticut. JLL represented Sendero Capital and Angelo Gordon in the transaction. Financial terms were not disclosed.  The Torrington property is fully leased, with Litchfield Hills Orthopedic as a long-term tenant – with approximately 56% of the building, which includes the Litchfield Hills Surgery Center – as well as endoscopy and physical therapy tenants.  Sendero Capital is a privately held real estate investment, development and advisory firm based in Boston,... Read More »
Access Healthcare Acquires Patient Engagement Company Envera Health

Access Healthcare Acquires Patient Engagement Company Envera Health

Access Healthcare announced on October 12 the acquisition of Richmond, Virginia-based Envera Health, which provides consumer engagement services to connect health systems and physician groups with patients.  Access Healthcare is a Dallas, Texas-based provider of revenue cycle management (RCM) services, specializing in medical billing, coding and accounts receivable management. Access Healthcare’s global delivery engine encompasses more than 27,000 people working from 20 delivery sites across nine cities in the United States, India and the Philippines.  This acquisition broadens Access Healthcare’s service portfolio to include enhanced patient engagement capabilities.... Read More »
LynLake Centers for WellBeing Joins ARC Health

LynLake Centers for WellBeing Joins ARC Health

ARC Health, a Thurston Group portfolio company, has announced the acquisition of LynLake Centers for WellBeing for an undisclosed price. The transaction was facilitated by Agenda Health, a healthcare-focused M&A advisory firm headquartered in Austin, Texas. LynLake Psychotherapy and Wellness Ltd, doing business as LynLake Centers for WellBeing, is a Minnesota-based integrative mental health and wellness practice with fourteen locations across Minneapolis and St. Paul. Established in 2014, LynLake offers a wide spectrum of outpatient clinical offerings, spanning from psychotherapy, neuro/psychological testing and nutritional counseling, to neurofeedback, medication management,... Read More »
Brown Rudnick Advises EDX Medical in Acquisition of Hutano Diagnostics

Brown Rudnick Advises EDX Medical in Acquisition of Hutano Diagnostics

Brown Rudnick, an international law firm representing clients around the world, has advised EDX Medical Group on its share-for-share acquisition of Oxford-based Hutano Diagnostics Ltd. The deal was originally announced on September 27, but Brown Rudnick’s involvement in the transaction wasn’t announced until October 10.  Hutano Diagnostics is a start-up developing a diagnostic and surveillance platform for diseases caused by emerging and dangerous pathogens that cause recurring epidemics in Africa. The company is currently developing an Ebola diagnostic and surveillance platform.  Founded in 2022, EDX Medical is a developer of digital diagnostic products and services for the... Read More »
Hunt Regional Healthcare Acquires Two Urgent Care Facilities

Hunt Regional Healthcare Acquires Two Urgent Care Facilities

Hunt Regional Healthcare (HRH) has announced the acquisition of a pair of urgent care facility locations in Rockwall and Royse City, Texas. Rockwall Urgent Care and Royse City Urgent Care will join the HRH family and will be now called Hunt Regional Urgent Care.  The two facilities both provide urgent care and occupational health services in the Rockwall County area.  HRH offers comprehensive medical services in Hunt County and Northeast Texas. HRH is centered in Greenville, Texas at Hunt Regional Medical Center and provides an extensive list of outpatient and diagnostic services. Additional facility locations include Commerce, Caddo Mills, Emory, Fate, Forney, Leonard and... Read More »