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Simulations Plus Acquires Immunetrics For $15.5 Million
Simulations Plus, Inc. announced on June 20 that it acquired Immunetrics, Inc. Simulations Plus agreed to pay the shareholders of Immunetrics cash consideration of $15.5 million. This includes a $1.8 million hold-back, plus two future earn-out payments in the aggregate amount of up to $8 million based on the revenue performance of Immunetrics through December 31, 2024. Immunetrics has served major pharmaceutical companies with predictive-modeling solutions to support the design of clinical trials. Immunetrics’ technology includes a broad and continually expanding library of standardized disease progression models, as well as Thales, a comprehensive quantitative systems pharmacology... Read More »
StrideCare Acquires Texas Center for Interventional Surgery
StrideCare announced on June 16 that it acquired Texas Center for Interventional Surgery (TCIS). According to data captured in the LevinPro HC database, this transaction marks the 16th ambulatory surgery center acquisition of 2023. TCIS is a medical facility specializing in minimally invasive interventional procedures. The company is based in Addison, Texas, right outside of Dallas. Its procedures include ablations, implanting/removing PICC/central lines, ports and aspire catheters, biopsies and kyphoplasty. Based in Dallas, Texas, StrideCare is a multi-specialty physician group focused on improving patient lives by offering value based comprehensive lower extremity care. This... Read More »
Billed Right Acquires Custom Billing Services of Ohio
Billed Right announced on June 20 its recent expansion through the acquisition of Custom Billing Services of Ohio Inc. This strategic move represents a significant milestone for Billed Right as it reinforces its position as a premier player in the revenue cycle management (RCM) industry while broadening its reach across the nation. Custom Billing Services of Ohio is a North Canton, Ohio-based medical billing company. The company was established in 1999. Founded in 2006, Billed Right is a Florida-based company providing leading and innovative expertise in RCM solutions and operational management for healthcare organizations of all specialties. The acquisition of Custom Billing Services of... Read More »
Telix Expands Late-Stage Urologic Pipeline with Acquisition of Lightpoint Medical
Telix Pharmaceuticals Limited announced on June 21 it has entered into an agreement to acquire Lightpoint Medical and its SENSEI® radio-guided surgery business. Lightpoint Medical is a technology leader in precision-guided robotic cancer surgery. The company develops and markets miniaturized imaging and sensing tools for advanced intra-operative cancer detection. Lightpoint Medical has developed SENSEI, a miniaturized surgical gamma probe for minimally-invasive and robot-assisted surgery. Telix Pharmaceuticals Limited is a biopharmaceutical company focused on the development and commercialization of diagnostic and therapeutic radiopharmaceuticals. Telix is developing a portfolio of... Read More »
Cosmos Health acquires I.Bikas General Partnership’s Distribution Network
Cosmos Health Inc. announced on June 16 that it acquired I.Bikas General Partnership’s distribution network. I.Bikas General Partnership is a Greek pharmaceutical company that has been operating since 1986. Cosmos Health is acquiring Bikas’s sales and distribution network for pharmaceutical and para-pharmaceutical products. The network, which currently generates an approximate annual turnover of $6.7 million, encompasses 50 pharmacies that cater to the everyday needs of individuals. Cosmos Health Inc. is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. The company is engaged in the importation, exportation, distribution and sale... Read More »
It’s Not Just a Private Equity Game – Traditional Health Systems Are Consolidating, Too
Levin Associates attended AHLA’s Health Care Transactions Conference on April 17-19, 2023, and the insights shared below are from panel discussions our writer observed in person. Healthcare investments among private equity firms have attracted a lot of attention in recent years but they’re far from the only players looking to consolidate the market. Traditional not-for-profit health systems are pursuing mergers and acquisitions too, with an emphasis on cross-market deals. Health systems are facing financial threats. Traditional health systems are looking to develop stronger economies of scale because right now, there is a revenue problem. Hospitals are facing serious financial constraints,... Read More »
GLOSSARY: Key Financial Terms of Private Equity Transactions
Explanations provided by industry experts Glossary of Terms Defined: EBITDA Enterprise Value Income Repair Multiple Scrape percentage Second bite and rollover equity Triple net lease (NNN lease) Quality of earnings (QofE) Value Based Enterprise Value Based Care (VBC) EBITDA EBITDA is an acronym that stands for “earnings before interest, tax, depreciation, and amortization”. EBITDA, therefore, represents the financial results of a company’s activities, with interest costs and interest earned as well as all depreciation being excluded. EBITDA is typically utilized as a financial metric to compare the underlying profitability of a company regardless of its depreciation assumptions and/or... Read More »
A Growing Trend: Health Systems Collaborating with Private Equity
Are traditional health systems and private equity-backed groups natural competitors? Maybe not. Levin Associates’ proprietary deal database, which tracks mergers and acquisitions in real time, shows the fast pace at which both sides have been consolidating the medical marketplace over the past decade. The data also shows a new trend taking hold: Rather than competing against each other, health systems and PE firms are forming partnerships. Many experts in the healthcare industry anticipate this trend is here to stay. Levin Associates attended AHLA’s Health Care Transactions Conference on April 17-19, 2023, and the insights shared below are from panel discussions our writer observed in... Read More »
VSS Capital Partners invests in Olympus Cosmetic Group
VSS Capital Partners announced that it invested in Olympus Cosmetic Group. Financial terms of the private transaction were not disclosed. Olympus Cosmetic Group provides comprehensive cosmetic surgery, dermatological treatments and non-surgical cosmetic procedures. The company is structured as a management services organization. Headquartered in Jacksonville, Florida, Olympus’ doctors provide a complete range of facelift, abdominoplasty, breast augmentation, breast lift, liposuction, injectables, non-surgical aesthetic treatments and body contouring, among others, from state-of-the-art facilities. VSS is a private investment firm that invests in the healthcare, information, business... Read More »Schedule a demo
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