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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 »
PeaceHealth Medical Group Acquires Northwest Surgical Specialists
PeaceHealth Medical Group announced on August 18 it acquired Northwest Surgical Specialists for an undisclosed amount. Northwest Surgical Specialists operates out of one Oregon location. According to its website, the practice has seven physicians on staff. PeaceHealth, based in Vancouver, Washington, is a Catholic health system offering care to communities in Washington, Oregon and Alaska. PeaceHealth has approximately 16,000 caregivers, more than 1,200 providers and 10 medical centers serving both urban and rural communities throughout the Northwest. This acquisition follows decades of collaboration between PeaceHealth and Northwest Surgical Specialists, strengthening both company’s... Read More »
LEO Pharma Acquires Timber Pharmaceuticals
LEO Pharma A/S announced on August 21 it acquired Timber Pharmaceuticals LLC, a biopharmaceutical company focused on developing and commercializing treatments for orphan dermatologic diseases. Timber Pharmaceuticals’ lead investigational product candidate, TMB-001, is a topical reformulation of the active ingredient, isotretinoin, which is aimed at treating congenital ichthyosis, a rare skin disease with significant unmet needs and no approved prescription therapies available. Founded in 1908, LEO Pharma A/S is owned by the LEO Foundation, one of Denmark’s largest commercial foundations. LEO Pharma is a specialty pharmaceutical company focused on dermatology, and markets products in more... Read More »
M3 Acquires NHS Staffing Platform Messly
M3, Inc., a Japanese healthcare investment firm, is acquiring Messly, a London-based company which aims to combat NHS staffing shortages. Christopher Kurwie and Abrar Gundroo, founders of Messly, have sold their businesses to M3 for an undisclosed price. The pair had jointly control just under 50% of the share capital of Messly, which they founded in 2017. Messly is a recruiting marketplace platform for U.K. doctors, for surgeries and hospitals to hire locums, or temporary doctors, at short notice. According to the press release, around 70% of trainee doctors in the United Kingdom have registered with Messly. M3, Inc. is. The company was founded in 2000 and is headquartered in Tokyo. M3,... Read More »
London-Based Doccla Acquires OpenTeleHealth
Doccla, a London-based provider of digital healthcare services, has announced the acquisition of OpenTeleHealth for an undisclosed price. According to data captured in the LevinPro HC database, this transaction marks the 182nd eHealth acquisition of 2023, and the 36th in the telehealth subsector. OpenTelehealth is a universal cloud-based remote patient monitoring platform that enables patients to measure health data at home, using an app and a wide range of medical measurement devices. Doctors can view patient data on a web portal. Founded in 2019, Doccla provides remote patient monitoring solutions to analyze patients’ acute or chronic conditions based on patient readings and... Read More »
Dental365 Acquires Two Dental Practices
Dental365, based in New Hyde Park, New York, announced that it acquired two dental practices: Theroux Dental Associates and Bowden Dental. Theroux Dental Associates provides dental care out of one North Grafton, Massachusetts location. Per its website, the practice is run by two providers. Bowden Dental has one location in Flemington, New Jersey and has two physicians on staff. Dental365 is a full-service family dental practice and support organization with locations throughout the country. Dental365 was acquired by private equity firm The Jordan Company in July 2021. With these acquisitions, Dental365 now operates 14 locations in Massachusetts and 23 locations in New Jersey. The financial... Read More »
PE-Backed UnisLink Acquires AQREVA and Doctors’ Resource Specialists
UnisLink, a portfolio company of Boston-based private equity firm Riverside Partners, has announced the acquisition of AQREVA and Doctors’ Resource Specialists (DRS). This strategic acquisition strengthens UnisLink’s position as a comprehensive provider of revenue cycle management (RCM) solutions and expands the company’s geographic reach. Based in Sioux Falls, South Dakota, AQREVA is a professional services company offering comprehensive medical billing and RCM related services. DRS is a medical billing, medical coding and reimbursement consulting company based in Phoenix, Arizona. UnisLink is a national leader in RCM and population health management services for... Read More »Schedule a demo
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