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New Mountain Capital Acquires Apixio from Centene
New Mountain Capital announced on May 3 that it acquired Apixio Inc. from Centene Corp. for an undisclosed price. According to data captured in the LevinPro HC database, this acquisition represents the 100th eHealth transaction of the year, and the 15th in the analytics specialty. William Blair is serving as Centene’s financial adviser and Bass, Berry & Sims, PLC as its legal counsel. J.P. Morgan Securities LLC is serving as financial adviser to New Mountain Capital, and Ropes & Gray LLP is serving as its legal counsel. Apixio provides a technology suite that mines, compiles and analyzes large volumes of disparate, unstructured patient data (such as physician notes and... Read More »
Stryker Acquires Cerus Endovascular
Stryker Corp. announced on May 2 that it completed its acquisition of Cerus Endovascular Ltd. According to data captured in the LevinPro HC database, this represents the 41st Medical Devices transaction of the year. Cerus Endovascular is a privately held, commercial-stage, medical device company engaged in the design and development of neurointerventional devices for the treatment of intracranial aneurysms. Stryker develops, manufactures and markets specialty surgical and medical products. These include orthopedic implants, powered surgical instruments, endoscopic systems and patient care and handling equipment. Stryker impacts more than 130 million patients annually. Stryker’s... Read More »
Bonatra Acquires Femtech Startup MyAva
Healthcare start-up Bonatra announced on May 2 its acquisition of women’s health and wellness company MyAva for an undisclosed amount. According to data captured in the LevinPro HC database, this acquisition represents the 98th eHealth transaction of 2023, including 20 in the telehealth specialty. There were 150 eHealth and 21 telehealth deals announced between January 1, 2022, and May 2, 2022. Through this acquisition, Bonatra aims to expand its healthcare programs and become a one-stop platform for the management of chronic health conditions. Terms of the deal were not disclosed. Founded in 2019 by Evelyn Immanuel, MyAva is a femtech start-up that offers curated programs and... Read More »
Medical Specialists of the Palm Beaches Acquires Cohen Medical Associates
Medical Specialists of the Palm Beaches (MSPB), backed by Ascend Partners and CareAbout Health, announced on May 2 that it acquired Cohen Medical Associates. Cohen Medical Associates provides complete family healthcare including routine visits, laboratory testing needs and emergency appointments. Combined, the staff has more than 100 years of medical experience. It has one location in Delray Beach, Florida. MSPB is a primary care-focused, multi-specialty physician group practice in South Florida. It has a team of more than 95 providers. This acquisition will increase MSPB’s primary care provider network by approximately 15% and will support Cohen Medical Associates’... Read More »
Astellas Pharma to Acquire Iveric Bio for $5.9 Billion
Astellas Pharma announced that it has entered into a definitive agreement to acquire Iveric Bio for $40 per share in cash, for a total equity value of approximately $5.9 billion. The acquisition is expected to be completed in the third quarter of 2023. Under the terms of the agreement, Iveric Bio will become an indirectly wholly owned subsidiary of Astellas Pharma. The acquisition includes avacincaptad pegol, which is under evaluation for the treatment of geographic atrophy. Iveric Bio is a biopharmaceutical company focused on the discovery and development of novel treatments for retinal diseases with significant unmet medical needs. The company delivers treatments designed to address... Read More »
Pinehurst Medical Expands in Sanford, North Carolina With Facility Acquisition
Pinehurst Medical Clinic purchased a medical office building (MOB) in Sanford, North Carolina for $1.895 million, according to a deed filed on April 21. The transaction expands Pinehurst Medical Clinic’s presence in Sanford, North Carolina. Nichole Etowski, director of business development for Pinehurst Medical Clinic, said the company will continue to provide cardiology and dermatology services at the Sanford MOB and will eventually relocate cardiology services from another facility in Sanford. Based in Pinehurst, North Carolina, Pinehurst Medical Clinic provides primary and specialty care to Moore County, North Carolina and surrounding areas. Founded in 1952, the company has more... Read More »
Recap of Cain Brothers Industry Insights
Last week, Jonah Schutzman, of Cain Brothers, provided banker commentary on the current state of physician specialty consolidation in the company’s weekly Industry Insights report. In short, the pandemic ignited an acceleration of consolidation among physicians with non-IDN (integrated delivery network) corporations that included insurers, private equity groups and non-provider umbrella organizations at the forefront. The report referenced data from an Avalere and Physicians Advocacy Institute report showing that three out of four physicians are employed by a non-physician-owned company, which represents a 19% increase from the previous three years. In contrast, hospitals employ more than... Read More »
Quest Diagnostics to Acquire Haystack Oncology
Quest Diagnostics and Haystack Oncology announced on April 27 a definitive agreement for Quest to acquire Haystack in an all-cash equity transaction. Quest expects the acquisition to be modestly dilutive to earnings over the next three years and accretive by 2026. The transaction is expected to be completed in the second quarter of 2023, subject to customary regulatory review. J.P. Morgan Securities LLC acted as exclusive financial advisor to Quest, and Weil, Gotshal & Manges LLP acted as Quest’s legal advisor. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Haystack, and Goodwin Proctor LLP acted as Haystack’s legal advisor. Haystack Oncology is an... Read More »
Schweiger Dermatology Group Acquires Windsor Dermatology
Schweiger Dermatology Group (SDG) announced on April 25 that it acquired Windsor Dermatology, a five-physician group in East Windsor, New Jersey. Windsor Dermatology is well known as a leader in medical dermatology and for high-quality clinical trials. It is also home to The Psoriasis Treatment Center of New Jersey, the state’s first complete facility for advanced psoriasis research and therapies. Founded in 2010, SDG is one of the largest group dermatology practices in the Northeast, with more than 90 offices and more than 250 healthcare providers under its belt. SDG provides medical and cosmetic dermatology services to more than one million patients annually. Windsor... Read More »Schedule a demo
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