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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 »
U.S. Physical Therapy Expands Physical Therapy Network
On October 2, U.S. Physical Therapy, Inc. (USPH) announced it acquired two physical therapy practices for a combined $13.9 million. USPH acquired a 70% equity interest in both practices with the current practice owners retaining 30% equity interests. The two physical therapy practices are located in Colorado and Alaska. According to U.S. Physical Therapy’s press release, the companies generate $72 million in revenue each year. Founded in 1990, USPH operates more than 655 outpatient physical therapy clinics in 40 states. The company’s clinics provide preventive and post-operative care for a variety of orthopedic-related disorders and sports-related injuries,... Read More »
Elevate ENT Partners Expands Reach with North Florida Acquisition
Elevate ENT Partners, backed by private equity firm Audax Private Equity, announced on October 2 its acquisition of North Florida Center for Otolaryngology. Since 1990, North Florida Center for Otolaryngology has offered otolaryngology and head and neck surgery services to the St. Augustine, Florida community. According to its website, the practice has three providers offering care across two locations. With more than 80 otolaryngology centers and 130 physicians, Elevate ENT Partners invests in private ear, nose and throat (ENT) and allergy practices across the United States. It provides scalable infrastructure to help practices reach the next level in terms of financial... Read More »
Flagship Acquires MOB in Fredericksburg, Virginia
Flagship Healthcare Properties announced on October 2 that it has acquired a 38,786-square-foot medical office building (MOB) and ambulatory surgery center in Fredericksburg, Virginia through its private real estate investment fund. SCCV Office Condominium Association sold the Class B asset for an undisclosed price. Fifth Third Bank provided the acquisition financing. Surgi-Center of Central Virginia, an affiliate of United Surgical Partners International, anchors the MOB property. Other tenants include HCA Virginia – Richmond Multi-Specialty, Fredericksburg Foot & Ankle Center and Allergy & Asthma Center of Fredericksburg. At the time of the sale, the building’s occupancy... Read More »
Montecito Medical Acquires MOB in Buffalo, New York
Montecito Medical Real Estate announced on September 28 that it acquired a 15,858-square-foot, two-story medical office building (MOB) in Buffalo, New York. The MOB is leased to WNY MRI a dominant provider of diagnostic imaging services in the Greater Buffalo and Niagara region. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5.1 billion in medical real estate. According to data captured in the LevinPro HC database, this represents the 157th MOB transaction of 2023, as well as Montecito’s 32nd MOB acquisition of the year. This is also the... Read More »
PE-Backed HealthComp and Virgin Pulse Merge
HealthComp and Virgin Pulse are merging. The transaction is valued at $3 billion, but officials from the company did not confirm this. The deal will create a single technology platform allowing patients and employers to manage health plans. According to data captured in the LevinPro HC database, this acquisition represents the 207th eHealth transaction of 2023, including 11 in the patient engagement specialty. Virgin Pulse is a digital-first health, wellbeing and navigation company that empowers organizations across the globe to activate populations, improve health outcomes and reduce spending. Virgin Pulse is backed by private equity firm Marlin Equity Partners. HealthComp, a New... Read More »Schedule a demo
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