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Youme Healthcare Acquires Online Therapy Startup Hurdle Health
Baltimore-based startup Youme Healthcare has acquired fellow startup Hurdle Health for an undisclosed price. According to data captured in the LevinPro HC database, this acquisition represents the 184th eHealth transaction of 2023, including 36 in the telehealth specialty. Founded in 2018, Hurdle Health is a Washington, D.C.-based company that provides culturally intentional online mental health support to people of color. Since its inception, Hurdle Health has raised more than $5 million in venture capital funding. Youme Healthcare is a Baltimore-based healthcare practice focused on child, teen and family behavioral and mental health, including cognitive talk therapy and medication... Read More »MB2 Dental Solutions Acquires Five Dental Practices
MB2 Dental Solutions has continued its August acquisition streak with the addition of five practices. The practices are Pediatric Dental Specialists in Martinez and Augusta, Georgia; Burbank, California-based Brenn Orthodontics; Jersey City Dental Center in Jersey City, New Jersey; Sugar Land and Katy, Texas-based Avalon Dental Group; and Desert Sun Endodontics in Phoenix, Arizona. MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners since February 2021, partners with dentists and specialists. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic dentistry and oral surgery. It is based in... Read More »
Vesey Street Capital Partners Sells Portfolio Company QualityMetric
Vesey Street Capital Partners (VSCP) announced last week that it completed the full sale of its portfolio company, QualityMetric. Founded in 1997, QualityMetric combines its proprietary scientifically validated general health and disease-specific surveys with its technology, advanced analytics and sector expertise to work with all the world’s largest pharmaceutical companies in clinical trials and patient surveillance. VSCP is a strategic private equity manager founded in 2014 that focuses on healthcare services. Since its inception, the firm has consummated 39 transactions across 9 platform businesses and has deployed approximately $600 million in capital. VSCP had... Read More »
Software Firm, Waystar, to Go Public
Waystar Inc, a portfolio company of EQT, CPPIB and Bain Capital, is, reportedly, moving towards an initial public offering (IPO) that values the company at $8 billion, as of August 21. Waystar is the combination of Navicure and ZirMed, two leading revenue cycle management companies. It supports more than 450,000 providers, 750 health systems and hospitals and 5,000 payers and health plans. EQT, CPPIB and Bain Capital have hired Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. to guide the company through the process, according to reporting done by Reuters. Contingent upon market conditions and regulations, the IPO is expected to materialize later in 2023 or early in... Read More »
Montecito Medical Acquires Two Las Vegas Medical Office Buildings
Montecito Medical Real Estate announced on August 22 its acquisition of two medical office buildings (MOBs) in Las Vegas. The properties, which total1 6,536 square feet, are fully occupied by Women’s Health Associates of Southern Nevada. One of the two properties serves as the group’s practice hub, and the other is adjacent to a 297-bed hospital, Valley Hospital Medical Center, in the heart of a medical corridor. 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. With the addition of these two... Read More »
PE-Backed STARLIMS Acquires Labstep
STARLIMS, backed by Francisco Partners, announced on August 22 its acquisition of Labstep for an undisclosed price. According to data captured in the LevinPro HC database, this acquisition represents the 92nd Laboratories, MRI and Dialysis transaction of 2023 Labstep is a modern R&D cloud platform helping customers unlock the power of real-time data. Found in more than 900 universities and more than 65 companies worldwide, Labstep’s Electronic Laboratory Notebook (ELN) platform streamlines laboratory work, delivers real-time data capture and collaboration and enhances data integrity. STARLIMS provides enterprise informatics solutions and is committed to providing quality... Read More »
Cressey & Company Acquires HealthDrive
On August 22, Cressey & Company announced it acquired HealthDrive from Bain Capital Double Impact Fund, L.P. The financial terms of the acquisition were not disclosed. HealthDrive provides on-site dentistry, optometry, podiatry and audiology services to residents in more than 2,000 skilled nursing and assisted living facilities across the country. HealthDrive has more than 500 clinicians that serve more than 150,000 long-term care (LTC) residents each year across more than 3,800 facilities. With offices in Chicago and Nashville, Cressey & Company is a private equity firm focused on investing in leading healthcare services and information technology... Read More »
MyPlanAdvocate Acquires Eversurance
MyPlanAdvocate (MPA) announced its acquisition of Eversurance. Eversurance (formerly Crosspointe) is a provider of personalized insurance based in Cambridge, Massachusetts. It is focused on providing health and Medicine insurance products. A portfolio company of private equity firm Adir Ventures, MPA is a National Medicare Agency with a team of licensed and certified agents dedicated to advocating on behalf of its customers. This acquisition will allow MPA to expand into the under-65 health insurance market. The financial terms were not disclosed. According to data captured in the LevinPro HC database, this transaction is the 17th Managed Care acquisition of... Read More »
Medical Properties Trust Cuts Dividend in Half to Bolster its Balance Sheet
After several large-scale divestments, one of the largest hospital landlords in the country is cutting its dividend to investors by nearly 50%. Medical Properties Trust, Inc. (NYSE: MPW) announced on Monday that “its Board of Directors has adopted an updated capital allocation strategy designed to significantly strengthen its balance sheet.” The dividend will be slashed from $0.29 per quarter to $0.15, which, according to the company, should help reduce leverage and improve long-term debt and equity capital costs. This change follows a number of divestments from MPW’s portfolio after the past 18 months that have resulted in lower adjusted funds from operations, including its... Read More »Schedule a demo
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