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Rology Acquires Arkan United
Rology announced on June 5 that it acquired Arkan United. The financial terms of the acquisition were not disclosed. Arkan United is an advanced teleradiology provider based in Jeddah, Saudi Arabia. Its services include CT scans, MRIs, X-rays, ultrasounds, mammograms and nuclear medicine. Arkan provides around the clock care. The company was founded in 2020. Rology was founded in 2017 as an on-demand teleradiology platform that connects hospitals and other healthcare providers with remote and readily available radiologists. It is based in Cairo. This acquisition allows Rology to accelerate its mission of bringing the latest innovations in teleradiology to healthcare providers... Read More »
Medusind Acquires AVA Billing & Consulting
Lightning Step announced on June 1 that it was divesting AVA Billing & Consulting to Medusind, a portfolio company of San Francisco-based private equity firm Alpine Investors. The financial terms of the acquisition were not disclosed. AVA Billing & Consulting is a revenue cycle management (RCM) company that’s based in Costa Mesa, California. In 2019, it was bought by Lightning Step, a provider of enterprise behavioral healthcare software solutions. Under Lightning Step’s ownership, AVA evolved into an industry-leading full-service RCM solution trusted by many behavioral healthcare facilities and treatment providers nationwide. Medusind Solutions provides comprehensive... Read More »
Optum Enters Bidding War for Amedisys
Amedisys is the hot target of the second quarter. Early in May, Option Care Health, the largest independent home and alternate site infusion services provider in the United States, offered $3.6 billion to acquire a 64.5% stake in Amedisys and its multi-state home health and hospice network. The deal seems straightforward, and the offer price (which includes debt) values Amedisys at approximately $5.6 billion, or 2.65x the company’s 2022 revenue and 27.1x EBITDA. However, on Monday, Amedisys announced it received an unsolicited offer from Optum, a significant division of the health insurance giant UnitedHealthcare. Optum is offering $100 per share, valuing Amedisys at approximately $5.73... Read More »
The Rise Funds Invests in Banyan Treatment Centers
The Rise Funds announced on June 1 that it made a significant investment in Banyan Treatment Centers. Moelis & Company served as exclusive financial advisor to Banyan Treatment Centers. Terms of the investment were not disclosed. Founded in 2013, Banyan offers a full continuum-of-care for patients suffering from addiction. Banyan provides clinical outcomes across medically monitored detox, residential, partial hospitalization, intensive outpatient and telemedicine services. Per its website, it operates across 16 facilities in eight states. The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff... Read More »
Avacta Group Acquires Coris BioConcept for $9.2 Million
Avacta Group plc has acquired Coris BioConcept for £7.4 million, approximately $9.2 million USD, with an earnout based on future business performance, payable in cash, of up to £3 million. According to data captured in the LevinPro HC database, this marks the 63rd Laboratories, MRI and Dialysis transaction of the year and the 31st in the diagnostic subsector. Coris BioConcept is a middle-sized company specialized in developing, manufacturing and marketing rapid diagnostic test kits, mainly lateral flow tests, for use by healthcare professionals. Coris BioConcept was established in 1996 and is based in Gembloux, Belgium. Avacta Group plc is a life sciences company. The company is focused on... Read More »
Advanced Hospice Management Makes Strategic Acquisition
Advanced Hospice Management (AHM) announced the strategic acquisition of Healthcare Management and Billing Service, LLC (HCMBS), a leading Home Health Billing Service. HCMBS specializes in end-to-end billing and revenue cycle management (RCM) for the home health industry. Based in New Orleans, Louisiana, AHM is a specialized billing service working solely with hospice providers across the country to maximize collections. As part of this acquisition the combined companies will be renamed Advanced Revenue Cycle Management, LLC. AHM CEO Delaine Henry will become an owner and serve as CEO of the combined companies. Financial terms of the deal were not disclosed. According to data captured in... Read More »
BC Platforms Acquires 4Pharma
Paris-based BC Platforms (BCP) announced on June 1 that it acquired 4Pharma Ltd, a contract research organization (CRO). 4Pharma provides medical research services to pharmaceutical, biotechnology and medical device companies. 4Pharma was founded more than 20 years ago and has collaborations with approximately 70 clients in the Nordics, Central Europe and the US. BC Platforms is a global leader in building data networks for the life sciences industry and provides versatile technology platforms for personalized medicine, accelerating the translation of innovations into clinical practice. In November 2022, Jolt Capital invested $20 million into BC Platforms. The acquisition expands... Read More »
BJC HealthCare, Saint Luke’s Health System Begin Merger Talks
Two Missouri-based health systems have begun merger negotiations. On May 31, BJC HealthCare of St. Louis and Saint Luke’s Health System of Kansas City announced they have signed a non-binding letter of intent to form an integrated, academic health system in the state. The letter of intent was unanimously approved by both health systems’ Boards of Directors. Combined, this new organization will have $10 billion in revenue. BJC HealthCare is one of the largest nonprofit integrated academic healthcare systems in the country, providing services to residents primarily in the greater St. Louis, southern Illinois and southeast Missouri regions. With net revenues of $6.3 billion and more... Read More »
healthŌme Acquires Kailos Genetics
healthŌme™ Inc. announced earlier this week its acquisition of Kailos Genetics, LLC for an undisclosed price. Kailos Genetics is a CLIA-certified and CAP-accredited genetic testing laboratory and supplier of clinical grade laboratory reagents for next-generation sequencing. healthŌme is a leading genomics-based, health navigation company based at the HudsonAlpha Institute for Biotechnology in Huntsville, Alabama. healthŌme, in partnership with Hannover Re US, the reinsurer for healthŌme’s new first-of-its-kind, patent pending cancer program, designs, develops and delivers its health management solutions through a network of life and critical insurance carriers. With the acquisition, Kailos... Read More »Schedule a demo
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