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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 »
Addus HomeCare Reports Impressive Q2:23 Earnings Led by Personal Care, Eyes Expansion Amidst Segment Challenges
Addus HomeCare (NASDAQ: ADUS) came out with its second quarter financial results on July 31, 2023, holding its earnings call the next morning. Addus posted revenue of $260 million during Q2:23, an increase of 9.7% over Q2:22 when it generated revenue of $237 million. The company also reported second-quarter net income of $14.9 million, an increase of 32% compared to the $11.3 million reported during the same period last year. Last quarter, it was expected that Addus would post earnings of $0.90 per share when it actually produced earnings of $0.97, delivering a surprise increase of 7.78%. This marks the fourth consecutive quarter in which the company has exceeded EPS estimates. Addus’... Read More »
Sitero Acquires Clario’s eClinical Technology Suite
Sitero, a contract research organization (CRO) based in Coral Gables, Florida, announced on August 1 that it acquired Clario’s e-clinical technology suite. The financial terms of the acquisition were not disclosed. Clario’s e-clinical technology suite is an advanced technology suite designed to manage the end-to-end clinical trial lifecycle. Components include electronic data capture systems, randomized and trial supply management, clinical trial management systems, e-consent and site and patient payments. Sitero is a next-generation, site-focused CRO for life sciences and institutional research organizations that helps get treatments to market safer and faster through... Read More »
Orlando Health Acquires Florida Medical Clinic
On August 1, Orlando Health announced that it entered a partnership with Florida Medical Clinic (FMC). FMC is a multi-specialty physician group consisting of 54 locations, more than 350 providers, 40 medical specialties and a team of more than 2,000 employees. Orlando Health is a not-for-profit healthcare organization with $8.1 billion of assets under management. The 238-bed system includes 23 hospitals and emergency departments. The system includes specialty institutes, primary care and more among its suite of inpatient and outpatient services. More than 4,200 physicians, representing more than 100 medical specialties and subspecialties, have privileges across the Orlando Health... Read More »
Elite365 Acquires Healthcare Staffing Firm Kobor MedSearch
Tampa, Florida-based Elite365, a healthcare staffing firm backed by private equity Regal Healthcare Capital Partners, announced on August 2 its acquisition of Kobor MedSearch for an undisclosed price. Kobor MedSearch is a Dawsonville, Georgia healthcare staffing firm with more than 25 years of experience. The company specializes in the anesthesia staffing market, both for locum tenens and permanent placement. Kobor MedSearch president Betty Evenson will continue in her role as president to help ensure continuity of service for customers and to partner with the Elite365’s team in uniting the two organizations. According to data captured from the LevinPro HC database, this acquisition... Read More »
MyTown Health Partners Acquires St. Camillus Urgent Care & Family Practice
MyTown Health Partners (MTHP), a comprehensive practice management services organization formed by Webster Equity Partners, has announced its acquisition of St. Camillus Urgent Care & Family Practice. St. Camillus Urgent Care & Family Practice is a Christian-based urgent care center with sox locations across Kentucky. The center has been open since 2009. MTHP is a practice management services organization headquartered in Pittsburgh. MTHP is bringing together national leaders in the rural and urban healthcare space with the goal of providing accessible healthcare treatment to underserved communities. This strategic partnership will extend MTHP’s mission of compassionate... Read More »
MD Revolution Acquires RPM Provider NavCare
MD Revolution announced on August 1 that it has acquired NavCare based in Augusta, Georgia. NavCare is a remote patient care services company that provides virtual chronic care management (CCM), remote patient monitoring (RPM) and telehealth care management. Founded in 2011, MD Revolution, provides RPM and CCM to more than 1,700 providers and 150,000 patients, collecting and evaluating more than 19 million vital measurements through care delivery. According to Kyle Williams, CEO of MD Revolution, this merger will lead to MD Revolution being able to offer greatly expanded service to clients and patients. NavCare teams will become employees of MD Revolution. Chris MacInnis will become Chief... Read More »Schedule a demo
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