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Montecito Medical Acquires Hammond, Indiana MOB
Montecito Medical announced on August 9 the acquisition of an 11,118-square-foot medical building (MOB) in Hammond, Indiana. The building is 100% occupied by the Williams Eye Institute and serves as the group’s flagship location. The property is situated approximately 25 miles south of downtown Chicago. Montecito Medical 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. Montecito worked alongside broker Entheos Capital Partners in completing the transaction. The acquisition expands Montecito’s footprint in the Chicago MSA. The company had... Read More »
Roper Technologies acquires Syntellis Performance Solutions
Roper Technologies, Inc. announced on August 8 that it completed the acquisition of Syntellis Performance Solutions for a net purchase price of $1.25 billion, including a $135 million tax benefit resulting from the transaction. The net purchase price represents approximately 15x Syntellis’ expected 2024 EBITDA. Syntellis Performance Solutions provides enterprise performance management software, data and intelligence solutions for healthcare, higher education and financial institutions. According to the original press release, Syntellis is expected to contribute approximately $185 million of revenue and $85 million of EBITDA in 2024, including planned cost synergies. Roper... Read More »
PAM Group Acquires Occupational Health Provider Connect Health
U.K.-based PAM Group announced its acquisition of Newcastle-based physiotherapy business Connect Health. Connect Health was established in 1989 by Professor Andrew Walton. The company provides community healthcare services to NHS patients across the United Kingdom. According to the press release, the company has £2 million (approximately $2.54 million USD) in annual revenues. PAM Group is an occupational health and well-being specialist which employs more than 700 people. PAM Group set up its physio business in 2010 to help employers to reduce absence by keeping their employees in work and maintaining their physical health and wellbeing. Following the deal, the company will have more than... Read More »
Cincinnati Children’s Hospital Acquires Pediatric Associates of Cincinnati
Cincinnati Children’s Hospital announced on August 7 that it acquired Pediatric Associates of Cincinnati, a three-physician pediatrics practice. In addition to being run by three physicians, Pediatric Associates of Cincinnati has one physician assistant on staff. The pediatric practice serves approximately 2,000 patients. Cincinnati Children’s, a nonprofit academic medical center established in 1883, is one of the oldest pediatric hospitals in the United States. With more than 2,400 specialists, it has more than 26 locations in the Cincinnati MSA. With the acquisition of Pediatric Associates of Cincinnati, Cincinnati Children’s foothold across Ohio is expanded and strengthened. The... Read More »
Kohlberg to Acquire Majority Stake in Worldwide Clinical Trials
An affiliate of Kohlberg & Company, LLC has entered into a definitive agreement to acquire a majority stake in Worldwide Clinical Trials (WCT), in partnership with WCT’s management team. Following the sale to Kohlberg, WCT’s former owner, The Jordan Company, will retain a meaningful minority equity stake in the company. WCT is a full-service contract research organization (CRO) focused on CNS, cardiovascular, metabolic, immune-mediated inflammatory disorders, oncology and rare diseases. Its global footprint spans nearly 60 countries with more than 3,200 team members. Kohlberg & Company LLC is a private equity firm specializing in add-on acquisitions, follow-on acquisitions,... Read More »
PhyNet Dermatology Acquires Nunnally Dermatology
PhyNet Dermatology LLC, a portfolio company of Century Equity Partners, announced that it expanded its Louisiana presence with the acquisition of Nunnally Dermatology. Nunnally Dermatology offers dermatology services out of one Baton Rouge location. According to its website, the practice is run by one physician and one physician assistant. PhyNet Dermatology is a dermatology practice management company headquartered in Franklin, Tennessee. With more than 280 network providers at 115 locations in 17 states, the company offers administrative management and support that enables physicians to focus their efforts on providing patient care. The acquisition expands the PhyNet network... Read More »
Praesum Healthcare Services Acquires Beacon Point Recovery Center
Praesum Healthcare Services announced on August 4 that it entered the M&A market for the first time with the acquisition of Beacon Point Recovery Center. The financial terms of the deal were not disclosed. Beacon Point Recovery Center provides substance use disorder (SUD) treatments. It has a 20-bed detox facility and 92 residential beds in the Philadelphia metro area. Praesum Healthcare Services is a privately-owned SUD provider with more than 30 locations across New Jersey, New York, Massachusetts, Florida and Georgia. Praseum operates across five states and plans on adding one additional state in 2024. Its services include detox, inpatient, counseling and residential care. Praesum... Read More »
Sendero Capital & Angelo Gordon Joint Venture Acquires Providence, Rhode Island MOB
JLL Capital Markets announced on August 3 that it advised Sendero Capital and Angelo Gordon on the acquisition of a 30,000-square-foot medical office building (MOB) in Providence, Rhode Island for an undisclosed price. According to data captured in the LevinPro HC database, this represents the 120th MOB transaction of 2023. Constructed in 2006, the 30,000-square-foot MOB is currently 96% leased to Lifespan Health System and clinical medical tenants offering a variety of services, including urgent care, primary care, imaging, pediatric care, physical therapy and pathology. Sendero Capital is a privately held real estate investment, development and advisory firm based in Boston,... Read More »
Help at Home Grows with Two Home Care Acquisitions in Ohio and Indiana
Help at Home announced the completion of two acquisitions: Ohio-based Berkshire Homecare and Indiana-based My Care at Home. Berkshire Homecare serves the Cleveland area that includes Lorain and Cuyahoga counties and has been providing care since the early 1990s. My Care at Home is a provider of non-medical home care in Shelbyville, Indiana, serving the community since 2013. Help at Home is a leading national provider of in-home care services, delivering high-quality, relationship-based personal care and other services to help seniors and the disabled remain in their homes, the preferred setting of care. As of December 31, 2022, Help at Home operated more than 180 branch locations across 12... Read More »Schedule a demo
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