Earnings Week in Review: Healthcare Giants Navigate Growth and Hurdles
We’re taking a look at some of the major companies reporting earnings in the week of July 15-July 19, across a variety of sectors. UnitedHealth Group and Novartis showcased strong growth, while Johnson & Johnson and Elevance Health presented more mixed results. Abbott Laboratories also reported solid results, driven by its medical devices segment, while facing challenges in its diagnostics business due to waning COVID-19 testing demand. This week’s earnings reports offer insights into the broader healthcare industry’s performance and future trajectory. UnitedHealth Group UnitedHealth Group (UHG) demonstrated a significant turnaround in its second quarter of 2024, posting a... Read More »
Specialized Dental Partners acquires Lowcountry Endodontics of Beaufort
Specialized Dental Partners (SDP) announced that it continued its acquisition streak with the purchase of Lowcountry Endodontics of Beaufort. Lowcountry Endodontics of Beaufort is run by Dr. Erich Heitman, the only provider on staff. Dr. Heitman provides endodontics care with an emphasis on digital and radiography dentistry. A portfolio company of private equity firm Quad-C Management, SDP is a leading specialty dental service organization that provides comprehensive support services to endodontic specialists across the United States. According to its website, SDP is based in more than 35 states and has partnered with more than 200 practices. This marks SDP’s 16th... Read More »
HealthyMD and IMG Health Clinic Merge
HealthyMD and IMG Health Clinic announced on July 19 that the two companies had entered into an agreement to merge. IMG Health Clinic is a health clinic that primarily provides care for sexual wellness and infectious diseases. It is based in Tamarac, Florida. HealthyMD is a healthcare company that provides comprehensive, end-to-end sexual healthcare for underserved communities and populations across the United States. HealthyMD and IMG Health Clinic will leverage their combined expertise and resources to expand geographic reach and combine robust care delivery systems, including dozens of brick-and-mortar and mobile clinics, a robust telehealth network, comprehensive... Read More »
Private Equity M&A Activity in Healthcare Rises in Q2:24
Private equity (PE) investment has continued to play a substantial role in the healthcare M&A market. In the second quarter of 2024, there were 186 deals completed by PE companies or their sponsored companies (PE buyers, collectively), or approximately 38% of all the 496 announced healthcare deals, according to new data captured in the LevinPro HC database. This is a 24% increase from the first quarter of 2024 when 150 acquisitions from PE buyers were announced. Activity in Q2:24 represents a 17% decrease from Q2:23 when 224 PE buyer transactions were reported. In Q2:24, 10 transactions with a PE buyer had a disclosed price. The ten deals totaled more than $5.49 billion in announced... Read More »
ABA Connect Expands Its Reach With ABA Therapy of Houston Acquisition
ABA Connect announced on July 22 the successful acquisition of ABA Therapy of Houston (ATH). ATH provides applied behavior analysis (ABA) therapy, ABA afterschool program, speech therapy, occupational therapy and free autism screenings to children between the ages of 2-12. BrightPath Health Holdings, LLC, doing buisiness as ABA Connect, is a Texas-based provider of ABA therapy for children and adolescents with autism spectrum disorder. Since its founding in 2013, the company has expanded service offerings to six facilities across the Austin and Houston MSAs. The company is backed by Coral Gables, Florida-based private equity firm MBF Healthcare Partners II, L.P. ABA Connect was formed... Read More »
Agilent to Acquire North American CDMO BIOVECTRA
Agilent Technologies Inc. announced that it has signed a definitive agreement to acquire BIOVECTRA, a specialized contract development and manufacturing organization (CDMO), for $925 million. BIOVECTRA produces biologics, highly potent active pharmaceutical ingredients and other molecules for targeted therapeutics. BIOVECTRA delivered $113 million in revenue during 2023 and expects double-digit revenue growth in 2024, according to a July 22 press release on BusinessWire. Agilent provides bio-analytical solutions and services to the life sciences, diagnostics and genomics, chemical analysis, communications and electronics industries worldwide. Its global headquarters is in Santa Clara,... Read More »
Blue Sea Capital-Backed Apex Physics Partners Acquires RPS Oncology
Apex Physics Partners (APP), the largest outsourced medical physics services company in North America, announced its acquisition of RPS Oncology. The addition of RPS Oncology expands APP’s national footprint. RPS Oncology is a provider of therapy medical physics and dosimetry consulting services in Minnesota and North Dakota. Over the last year, the company has expanded its footprint into Wisconsin and California. APP is a medical physics business services support organization. Partner physics practices receive an array of support services including client services, information technology and data analytics. APP is backed by Blue Sea Capital, a West Palm Beach-based private equity... Read More »
Provident Healthcare Partners Advises Quest Health Solutions in Partnership
Provident Healthcare Partners, a Boston, Massachusetts-based healthcare investment banking firm, announced on July 18 that it had advised Quest Health Solutions in its partnership with Sumitomo Corporation of Americas (SCOA). Quest Health Solutions was founded in 2017 to provide medical supplies to patients with chronic illnesses. The company is headquartered in Coral Springs, Florida, and is a leading provider of continuous glucose monitors (CGM), remote patient monitoring (RPM) services and other medical supplies to diabetic patients. Established in 1952 and headquartered in New York City, SCOA has nine offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation,... Read More »
Agenda Health Advises Angel Senior Home Care on Sale – A Look Behind the Deal
Agenda Health, a healthcare-focused M&A advisory firm based in Austin, Texas, played a key role in the recent acquisition of Angel Senior Home Care, a Virginia-based home health provider, by an undisclosed buyer. The deal marks a strategic move for the buyer, enabling it to expand its footprint into Virginia, a new state for its operations. Agenda Health’s involvement began by initiating contact with Angel Senior Home Care. Ryan Lafferty, an M&A advisor at Agenda Health, shared insights into the deal process. “I connected with the sellers last summer and went through a process of helping them figure out their value and connect with buyers. It took about a year to... Read More »Schedule a demo
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