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Investor Interest Spikes for Telehealth in 1H:23
Telehealth demand has oscillated over the past several years. There was a peak in usage during 2020 and 2021 during the COVID-19 quarantine, driving dozens of deals in the healthcare M&A market. Deals such as Microsoft Corp.’s purchase of Nuance Communications for $19.7 billion in April 2021 and Teladoc Health’s acquisition of Livongo Health, Inc. for $18.5 billion are some notable examples. Several companies even hit the public market through a special purpose acquisition company (SPAC). Sharecare, Inc. merged with a SPAC in a deal valued at $3.9 billion in November 2021; Him & Hers joined Oaktree Acquisition Corp., sponsored by an affiliate of Oaktree Capital Management, L.P.,... Read More »
HealthEdge Investment Partners and United Western Group Recapitalize Veridian Healthcare
HealthEdge Investment Partners, LLC and United Western Group announced on July 31 the recapitalization of Veridian Healthcare, LLC. Veridian Healthcare is a leading outsourced manufacturer of private label and branded in-home diagnostic, pain care management and personal care products. The company is based in Gurnee, Illinois. Based out of Tampa, Florida, HealthEdge Investment Partners is an operating-oriented private equity firm that focuses exclusively on the healthcare industry. The firm was founded in 2005. United Western Group is a private equity firm based in Washington, D.C. that partners with managers and entrepreneurs to invest in strategically viable, market-leading... Read More »
Acadia Healthcare Company Acquires Turning Point Centers
Acadia Healthcare Company has announced its acquisition of the 76-bed Turning Point Centers. Turning Point Centers is a specialty provider of substance use disorder treatment and primary mental health treatment services through its eight locations in Utah. Acadia is a leading provider of behavioral healthcare services across the United States. Acadia operates a network of 242 behavioral healthcare facilities with approximately 10,800 beds in 40 states and Puerto Rico. With more than 20,000 employees serving approximately 70,000 patients daily, Acadia is the largest stand-alone behavioral health company in the United States. According to its FY 2022 financial report, Acadia had annual... Read More »
KKR-Backed Headlands Research Acquires AMCR Institute
Headlands Research, a portfolio company of KKR, announced the acquisition of AMCR Institute, which has been in operation for more than 20 years. AMCR Institute is an Escondido, California-based clinical research site specializing in metabolic, endocrine and other chronic conditions such as diabetes and obesity. The company is led by principal investigator Dr. Timothy S. Bailey, a board-certified endocrinologist. He and his staff have worked with thousands of volunteers in phase I-IV trials and have extensive experience with the evaluation of medical devices such as continuous glucose monitors. San Francisco-based Headlands Research is a globally integrated clinical trial site organization.... Read More »HCA’s Q2 Revenue Gets a Boost from Higher Patient Volumes
Despite industry headwinds, one of the country’s largest health systems reported higher revenues in its quarterly earnings. HCA, Inc.’s revenues in the second quarter of 2023 increased to $15.9 billion, compared to $14.8 billion in the second quarter of 2022, according to its newly released results. Net income totaled $1.193 billion, or $4.29 per diluted share, compared to $1.155 billion, or $3.90 per diluted share, in the second quarter of 2022. The second quarter of 2022 results included losses on sales of facilities of $32 million, or $0.11 per diluted share, and losses on retirement of debt of $78 million, or $0.20 per diluted share. For the second quarter of 2023, Adjusted EBITDA... Read More »
Community Health Systems Divests 3 Hospitals in Florida
Tampa General Hospital has agreed to buy three Florida-based hospitals from a subsidiary of Community Health Systems. The hospitals, which collectively make up the Bravera Health network, include 120-bed Bravera Health Brooksville in Brooksville, Florida, 128-bed Bravera Health Seven Rivers in Crystal River, Florida, 124-bed Bravera Health Spring Hill in Spring Hill, Florida, and their associated assets. The cash consideration is approximately $280 million, excluding anticipated purchase price adjustments for net working capital and the amount of capital leases assumed by the buyer. Total cash consideration to be received, inclusive of these items, is estimated to be... Read More »
ENT Partners Acquires Southern Indiana ENT and Indianapolis Sinus Center
On July 25, ENT Partners, a portfolio company of Candescent Partners, announced that it acquired two ear, nose and throat (ENT) practices; Southern Indiana ENT and Indianapolis Sinus Center. Southern Indiana ENT operates out of four locations in Indiana. According to its website, it has two physicians on staff. The one-physician practice of Indianapolis Sinus Center runs out of one location in Indiana. ENT Partners is a leading network of ENT and sleep providers. ENT Partners has achieved strong traction in the U.S. market and is focused on building on this momentum by rapidly scaling its operations. This transaction represents ENT Partners’ fifth acquisition of the year,... Read More »
Teleflex Incorporated Acquires Palette Life Sciences for $600 Million
Teleflex Incorporated announced on July 26 that it acquired Palette Life Sciences AB for $600 million and up to an additional $50 million upon the achievement of certain commercial milestones. Palette Life Sciences is a fully integrated medical device company providing a wide range of products and services. Its portfolio of products focuses on treating conditions in urology/urogynecology disorders, colorectal conditions, radiotherapy and interventional oncology procedures. Headquartered in Stockholm, Sweden, the company operates offices in California, Texas, Australia and Japan. Palette Life Sciences is estimated to generate net sales of approximately $56 million, on a standalone basis, in... Read More »Economic Slowdown Putting Pressure on Rehabilitation
Over the last several quarters, M&A activity in the Rehabilitation sector has experienced a decline in deal volume. Throughout Q1:23, 15 transactions were reported and during Q2:23, only nine acquisitions were announced. This is a drastic comparison to the first half of 2022, when 28 Rehabilitation acquisitions were reported in Q1:22 and in Q2:22 there were 21 transactions. The deal volume of 2023 is even a significant dip from 2021, when there was a quarterly average of 23 transactions. Yet, the activity in the Rehabilitation sector has risen from 2020, averaging eight transactions across each quarter in 2020. The overall increase in deal activity is because of an aging... Read More »Schedule a demo
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