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Hospital Market Status & Review: Spring 2023 Update
As we approach the halfway point of 2023, we thought it’d be worthwhile to examine the state of the hospital M&A market so far. Through mid-May, strategic buyers and investors announced 30 hospital deals, 16 of which were in the first quarter, according to data captured in the LevinPro HC database. Considering the number of mergers already in the letter-of-intent stage, deal activity is on pace to beat the volume from 2022. Health systems and hospitals were battered with headwinds in 2022, such as staffing issues and operating expenses, forcing hospitals to partner with a more extensive system or network. But another challenge has been competing in the outpatient care market, which has... Read More »
Bavarian Nordic Closes Acquisition of Emergent BioSolutions’ Travel Health Business
Gaithersburg, Maryland-based Emergent BioSolutions Inc., a specialty biopharmaceutical company, announced that it closed on the sale of its portfolio of travel vaccines to Bavarian Nordic. The transaction was initially announced on February 15, 2023. The portfolio includes Vivotif and Vaxchora, which prevent typhoid fever and cholera, respectively. Emergent BioSolutions is also selling a Phase III vaccine candidate for the prevention of Chikungunya virus. Emergent received $270 million and may receive up to an additional $110 million in potential future milestone payments. Wells Fargo Securities, LLC served as financial advisor, and Barnes & Thornburg LLP served as legal counsel... Read More »
Amulet Capital Partners acquires Alliance Clinical Network
Amulet Capital Partners announced on May 22 its acquisition of Alliance Clinical Network (ACN) for an undisclosed price. According to data captured in the LevinPro HC database, this acquisition marks the 11th clinical trials transaction of the year. Headquartered in Dallas, Texas, ACN is a comprehensive clinical site platform. ACN currently owns and operates six clinical research sites serving patients, leading pharmaceutical sponsors and contract research organizations across three states (California, Nevada and Texas). With a focus on Phase II and Phase III general medicine trials and a demonstrated expertise in enrolling diverse patient populations, ACN services a range of clinical... Read More »
Latus Health Acquires Two U.K.-Based Occupational Health Providers
Latus Health recently announced the acquisition of ELAS Occupational Health and The Industrial Diagnostics Company (IDC) from Citation Group. According to data captured in the LevinPro HC database, this represents the 12th occupational health deal of 2023. ELAS’ expertise in health surveillance directly complements Latus’ solutions to ensure its current and future customer base has access to a truly holistic solution for all their occupational health needs. ELAS Occupational Health specializes in providing occupational health, employee well-being and health surveillance services to businesses across the United Kingdom. Established in 1994, IDC provides a full remit of occupational health... Read More »
NexPoint Acquires Two Life Science Properties
NexPoint announced that it acquired two life science properties in Philadelphia from Frontida BioPharm, LLC for an undisclosed price. The properties were indirectly acquired by NexPoint Life Sciences II DST, a Delaware statutory trust seeking to raise $42 million in equity from accredited investors via a private placement offering. The two properties include nearly 18 acres of land and more than 250,000 square feet of interior space. The first property comprises R&D, production, and warehouse facilities capable of producing three billion tablets and capsules annually. The second property features distribution facilities and packaging capacity for four billion tablets and capsules... Read More »
MedVenture Health Acquires Canyon Labs
On May 16, MedVenture Health, a venture capital and private equity firm, announced it acquired Canyon Labs for an undisclosed price. According to the LevinPro HC database, this acquisition represents the 55th Laboratories, MRI and Dialysis transaction of the year. Canyon Labs provides laboratory testing, consulting, clinical research and Institutional Review Board services for pharmaceutical, nutraceutical and medical devices. It is based in Bluffdale, Utah. MedVenture partners with entrepreneurs, physicians and management teams to advance healthcare products, services and technologies. It is based in Salt Lake City, Utah and was founded in 2016. This marks MedVenture’s first... Read More »
Capitol Pain Institute Bolsters Presence in Texas With Recent Acquisition
Capitol Pain Institute (CPI) has acquired Balcones Pain Consultants and Water Leaf Surgery Center, adding three clinics and one ambulatory surgical center (ASC) in the Austin MSA to CPI’s national interventional pain management platform. Financial terms of the deals were not disclosed. Led by Matthew McCarty, M.D., Balcones Pain Consultants has locations in Austin, Cedar Park and Marble Falls, Texas. The clinics’ physicians are skilled in SI fusion, epidural injections, nerve blocks and the latest in minimally invasive spinal surgical techniques. According to the company’s website, there are three providers on staff. Water Leaf Surgery Center is a Medicare certified ASC in... Read More »
Aspirion Acquires FIRM Revenue Cycle Management Services
Aspirion announced on May 19 that it has acquired FIRM Revenue Cycle Management Services, Inc. for an undisclosed price. The acquisition closed on May 18, 2023. FIRM Revenue Cycle Management Services is an attorney-driven company that utilizes clinicians and case, contract and statutory law to assist hospitals in recovering denied, unpaid and underpaid medical insurance claims. Aspirion is a revenue cycle management (RCM) company that helps hospitals and physicians recover otherwise lost claims revenue from motor vehicle accidents, workers compensation, the Veteran’s Administration and Tricare as well as out-of-state Medicaid, Medicaid eligibility, underpayments and denials. New... Read More »
Forum Health Acquires Hormones by Design in Texas
Forum Health, LLC has acquired Hormones by Design for an undisclosed price. The deal increases Forum Health’s presence in Texas to seven clinics. Hormones by Design is a Texas-based healthcare provider specializing in hormone replacement therapy with four locations in Waco, San Antonio, Boerne and New Braunfels. Launched in June 2019, Forum Health is a provider of personalized healthcare. It provides members back-office support, electronic health records and other management services. Members have access to advanced medical treatments and technology, with care plans informed by data analytics and collaborative relationships. Forum Health plans to expand the Hormones by Design... Read More »Schedule a demo
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