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April 2023 Healthcare M&A Market Update
According to recent data captured in the LevinPro HC database, the healthcare M&A market in April 2023 saw a total of 185 deals, an increase from the 169 deals in March 2023, yet a slight decrease from the 189 deals we saw in April 2022. The busiest sector in April 2023 was Physician Medical Groups (PMG), with 47 deals, followed by Other Services with 41 deals and eHealth with 24 deals. Private equity firms and their portfolio companies were responsible for acquiring 70 of the targets in April, making up 38% of all the deals announced during the month. One sector that saw a significant rise in deal totals was Medical Devices, with 12 deals announced in April 2023, compared to only... Read More »
The Pennant Group Acquires Colorado Home Health Provider
The Pennant Group, Inc. announced that it has acquired the assets of Benefit Home Healthcare and Benefit By Your Side, marking Pennant’s first transaction since its purchase of Kenosha Visiting Nurse Association, Inc. in November 2022. Benefit Home Healthcare and Benefit By Your Side provides skilled home health, private duty and community health services in Colorado Springs, Colorado. The Pennant Group is a holding company of independent operating subsidiaries that provide healthcare services through 97 home health and hospice agencies and 51 senior living communities located in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington,... Read More »
MB2 Dental Solutions Acquires Three Dental Practices
MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners, announced its acquisition of three dental practices; Dehnert Dental in Tucson, Arizona, Angel Smile Pediatric in Wylie, Texas and Town Center Dental in Flint, Michigan. MB2 Dental Solutions partners with dentists and specialists. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic dentistry and oral surgery. These acquisitions expand MB2 Dental’s portfolio by six physicians and strengthen the company’s presence across the country. According to data captured in the LevinPro HC database, 193 Physician Medical Groups transactions have been announced in... Read More »
CVS Health Pauses M&A Strategy to Focus on Integration
After spending $8 billion to acquire healthcare service provider Signify Health and $10.6 billion for primary care provider Oak Street Health, retail giant CVS Health Corp. seems to be winding down its M&A strategy. CEO Karen Lynch told investors on May 3rd that CVS would pause its recent acquisition spree as it focuses on integrating its recent purchases. CVS will integrate Signify and Oak Street with its other businesses in the near term. Longer term, Lynch said, the company might look at additional opportunities in technology for home or health services. Lynch also said there’s an opportunity to “connect the dots” among itself and the two... Read More »
HouseWorks Announces Acquisition of Care and Help Home Care
HouseWorks, LLC announced on May 3 its acquisition of Care and Help Home Care. According to data captured in the LevinPro HC database, this marks the 31st Home Health & Hospice deal of 2023. This also marks HouseWorks’ second deal of the year. In February 2022, HouseWorks acquired the personal care division at Amedisys, Inc. for an undisclosed price. Amedisys was just acquired by Option Care Health in a deal valued at $3.6 billion. You can read more about that deal on the LevinPro HC platform here. Founded in 2017, Care and Help Home Care is a leading home care provider serving seniors across Philadelphia and Bucks County. In addition to its personal care services, Care and Help also... Read More »
Headlands Research Acquires Clinvest Research
Headlands Research, a portfolio company of KKR, announced on May 4 that it entered into an agreement to acquire Clinvest Research. According to data captured in the LevinPro HC database, this acquisition marks the 10th clinical trials transaction of the year. Founded in 1996, Clinvest Research has conducted more than 600 trials for chronic diseases and conditions such as headaches/migraines, arthritis and chronic pain and diabetes, as well as weight loss. Headlands is a globally integrated clinical trial site organization. The company has successfully completed more than 5,000 clinical trials. It was founded in 2018 and has 15 offices across the United States. The acquisition of... Read More »
Option Care Health to Merge With Amedisys in $3.6 Billion Deal
Option Care Health, Inc. and Amedisys, Inc. announced that they have entered into a definitive merger agreement to combine in an all-stock transaction that values Amedisys at approximately $3.6 billion, including the assumption of net debt. Upon closing, Option Care Health stockholders will own 64.5% of the combined company, and Amedisys stockholders will own 35.5%. Together, Option Care Health and Amedisys will have a national clinical workforce of more than 16,500 professionals and 674 care centers across the United States. Based on recently reported 2022 financial results, the combined company generated revenues of approximately $6.2 billion and adjusted EBITDA of approximately $622... Read More »
Provident Healthcare Partners Advises Coastal Cancer Center in OneOncology Partnership
Provident Healthcare Partners announced on May 3 it has advised Coastal Cancer Center in signing a partnership agreement with OneOncology. Coastal Cancer Center, which is led by Dr. Emily Touloukian, has six medical oncologists, a hospitalist and eight advanced practice providers. It operates out of four locations in Myrtle Beach, South Carolina. OneOncology, a portfolio company of General Atlantic, is a national network of independent community oncologists assisting partner practices to expand their cancer care services. Its network includes 850 physicians practicing at more than 180 sites, serving approximately 280,000 patients annually. The announcement follows OneOncology’s recent... Read More »
Hildred Capital Management Acquires AleraCare
New York-based private equity firm Hildred Capital Management announced on May 2 that it entered into an agreement to acquire AleraCare for an undisclosed price. AleraCare is a provider of infusion and specialty pharmacy services. Founded in 2019, AleraCare’s core lines of business includes infusions at ambulatory infusion centers, home infusion therapy, specialty pharmacy and compounding pharmacy. It has more than 35 locations in the western United States. Hildred Capital Management pursues growth equity investments in lower middle market healthcare companies with leading products, technologies and services. AleraCare will use the capital provided by Hildred to further enhance its... Read More »Schedule a demo
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