Centene Corporation Sells Majority Stake in U.S. Medical Management, LLC
The managed care-giant Centene Corporation is divesting a majority share in U.S. Medical Management, LLC (USMM) to several buyers in a deal announced earlier in November. No price was disclosed for this deal, but Centene purchased USMM in 2013 for $200 million, or 0.6x that year’s expected revenue for USMM. USMM provides a continuum of in-home services including primary care, health risk assessments, home health, hospice, podiatry, radiology DME, lab and pharmacy. USMM also owns several allied health assets, which assist in the provision of home-based primary care and furthers the value and efficiency of house call medicine. USMM Accountable Care Partners (USMM ACP) launched as an... Read More »
Ventas Enters the Behavioral Health Market
On November 5, Ventas, Inc. announced it acquired an Eating Recovery Center medical office building in Plano, Texas for $58 million. The building is a 102,000-square-foot facility with 72 inpatient beds. Founded in 1998, Ventas, Inc., owned by The Vanguard Group, is the largest health care REIT in the U.S., owning seniors housing and care properties, medical office buildings and LTAC hospitals with roughly 1,200 properties. Since 2004, Ventas has made more than $40 billion in strategic investments. The Eating Recovery Center (ERC), founded in 2009, is one of the largest eating disorder treatment providers in the United States with 35 centers across Colorado, California, Illinois, Texas,... Read More »
Anthem Announces Acquisition of Integra Managed Care
On November 10, Anthem, Inc. announced that it entered into an agreement to acquire Integra Managed Care, a managed long-term care plan in New York, from a wholly-owned indirect subsidiary of Personal Touch Holding Corporation. Financial terms of the transaction were not disclosed. Founded in 2014, Integra Managed Care is a New York-based managed long-term care plan serving Medicaid beneficiaries in need of long-term supportive services to help adults with long-term care needs and disabilities live safely and independently in their home and community. Integra serves 40,000 Medicaid members across the five boroughs of New York, Nassau, Suffolk and Westchester. Anthem, Inc. is a leading... Read More »
The Transcript: Q3 Highlights From Healthcare CEOs
What better way to get an understanding of the healthcare market than through the CEOs of the top companies themselves? Leaders across different segments, including hospitals, telehealth, managed care, home health and more, reported strong growth and activity and have a confident outlook for the final quarter of 2021. Membership Drive “We ended the quarter with 715,000 members, 18,000 above the high end of our updated guidance from September 1, up 40% year-over-year. Similarly, our revenue also has outperformed coming in at $151 million, $3 million above the high end of our updated guidance from September, up 49% year-over-year.” – Amir Rubin, President and CEO of One Medical“We were... Read More »
Behavioral Health Group Announces Acquisition of Staunton Treatment Center
Behavioral Health Group (BHG) has announced its recent acquisition of Staunton Treatment Center, a medication-assisted treatment facility located in Staunton, Virginia. Going forward, the center will operate under the name BHG Staunton Treatment Center. It has 11 clinicians, counselors and staff caring for upwards of 100 patients with opioid use disorder. With headquarters in Dallas, Texas, BHG is the nation’s largest network of Joint Commission-accredited outpatient opioid treatment and recovery centers. They provide comprehensive, personalized evidence-based medical and behavioral therapies. BHG has 86 locations across 18 states and employs more than 1,380 people to care for their... Read More »
Q4 Kicks Off With a Bang
Here we are again. Activity in October hit 212 deals, a slight uptick compared with 207 deals announced in September, but more than 50% higher compared with October 2020. It’s an all-time record for a single month, at least for now. Some activity last month can be attributed to the typical fourth quarter surge, but fear of a capital gains tax increase and plenty of tailwinds across sectors are really pushing dealmakers to close. The chart below shows the bulk of the deal activity is concentrated in a few sectors: Physician Medical Groups, eHealth, Long-Term Care and Other Services. It has been this way for most of the year, and we don’t expect it to change in the fourth... Read More »
Aurelius Makes Biggest Acquisition to Date with McKesson UK Deal
Aurelius Healthcare Sdn Bhd has acquired McKesson UK in a corporate carve-out from the Irving, Texas-based healthcare company McKesson Corporation for £477 million (equivalent to $649 million). The deal will be completed by Aurelius’ newly launched co-investment structure with Aurelius European Opportunities Fund IV controlling a 70% stake and Aurelius Equity Opportunities SE & Co KGaA controlling 30%. The transaction is expected to close in Q1 2022. Millions across the United Kingdom rely on McKesson UK’s services. The Coventry, United Kingdom-based company provides integrated healthcare services to the NHS, specializing in medicines, pharmaceutical care and primary care patient... Read More »
Pinnacle Dermatology Gets New Owner
After more than five years as partners, Chicago Pacific Founders is exiting its investment in Pinnacle Dermatology. The private equity firm is selling its dermatology platform to BayPine, an investment firm based in Boston. No purchase price was disclosed in the private transaction, but affiliates of J.P. Morgan, Goldman Sachs Asset Management, and AB Private Credit Investors are supporting the financing of the transaction as lenders. Chicago Pacific Founders will roll a portion of its ownership in Pinnacle post-closing. Pinnacle provides comprehensive management services to 87 clinical locations across 11 states. Its affiliated clinical practices include board-certified dermatologists,... Read More »