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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 »
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 »Schedule a demo
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