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SMBC Leasing and Finance Acquires Fresenius Kidney Care East Greensboro
SMBC Leasing and Finance Inc. announced on April 11 that it acquired Fresenius Kidney Care East Greensboro, a medical office building (MOB) in Greensboro, North Carolina for $4.4 million The facility, which has a dialysis center, was built on 1.9 acres in 2003 and consists of 12,588 square feet of rentable space. The price was approximately $350 per square foot. SMBC Leasing and Finance Inc., a portfolio company of SMBC Americas Holdings, Inc., is a leasing company based in New York City. Fresenius’s five other North Carolina locations will remain open. According to data captured in the LevinPro HC database, this transaction represents the 63rd MOB acquisition of the year.... Read More »
Discovery Life Sciences Acquires ReachBio Research Labs
Discovery Life Sciences has acquired ReachBio Research Labs, a Seattle-based contract research organization (CRO). This acquisition will allow Discovery Life Sciences to scale its consolidated drug discovery and preclinical development offerings to give customers access to a broader range of specialized cell biology services. Financial terms of the deal were not disclosed. ReachBio Research Labs specializes in cell-based assays, predictive hematotoxicity and drug screening services. The company provides primary cell biology-based contract research services and products to the drug development and life science research communities. Founded in 2018, Discovery Life Sciences provides... Read More »
Spectral MD Holdings to be Listed on Nasdaq Through Business Combination with Rosecliff Acquisition Corp I SPAC
Spectral MD Holdings, Ltd. announced on April 11 that it has entered into an agreement to combine with Rosecliff Acquisition Corp I, a special purpose acquisition company (SPAC) listed on Nasdaq. The combined company expects to operate under the name Spectral AI and to be listed on Nasdaq under the symbol “MDAI”. The combined company will operate under the same management team, led by Spectral MD founder and CEO Wensheng Fan with current Spectral MD shareholders rolling 100% of their equity into the transaction. Net proceeds of the proposed transaction will be used to accelerate readiness for material potential federal contracts, to enhance Spectral MD’s efforts for broad... Read More »
ClareMedica Health Partners Acquires Plaza Medical Centers
ClareMedica Health Partners, a portfolio company of private equity firm Revelstoke Capital Partners, announced on April 11 that it purchased Plaza Medical Centers for an undisclosed price. McGuireWoods LLP acted as legal counsel to Revelstoke and ClareMedica. Oppenheimer & Co. Inc. acted as financial advisor and Holland & Knight LLP acted as legal counsel to Plaza Medical Centers. Plaza Medical Centers is a patient-first focused primary care provider for Medicare Advantage (MA) patients. It operates out of seven locations in Florida and is run by 17 providers. Based in Miami Lakes, Florida, ClareMedica Health Partners is a provider of value-based primary care services... Read More »
Seven Hills-Backed Reliable Medical Acquires Capstone Medical Partners
Reliable Medical Supply, a portfolio company of Chicago-based private equity firm Seven Hills Capital, announced the purchase of Washington-based Capstone Medical Partners for an undisclosed price. The acquisition further expands Reliable Medical Supply’s footprint into the Pacific Northwest, as well as enhances its solutions to long-term care facilities. Capstone Medical Partners is a Complex Rehab Technology (CRT) & Durable Medical Equipment (DME) provider based in Lakewood, Washington. Capstone Medical specializes in providing CRT & DME to long-term care facilities. Reliable Medical Supply provides CRT, clinical respiratory products, DME and supplies to serve a fragile patient... Read More »
Thurston Group Partners With Esthetics Center, Forms MedSpa Platform Alpha Aesthetics Partners
Thurston Group has closed on a partnership with Esthetics Center to form Alpha Aesthetics Partners, a management services organization focused on partnering with leading medical aesthetics practices nationwide. Esthetics Center will become the anchor affiliate of Alpha Aesthetics Partners. In partnership with Thurston Group, Alpha Aesthetics Partners will execute an aggressive growth strategy focused on partnerships with high quality, like-minded groups across the country. Financial terms of the deal were not disclosed. Esthetics Center is a MedSpa group based in Sacramento, California. Led by facial plastic surgeon Dr. Reginald Rice, and with the addition of CEO John Wheeler in 2018,... Read More »
Market Pressures Take Toll on Healthcare M&A in Q1:23
Headwinds have finally slowed the healthcare M&A market. Throughout 2022, deal volume soared despite challenging market conditions, but activity in the first quarter of 2023 declined by 5% compared with the fourth quarter of 2022. The year-over-year drop was much more severe, falling 18%, or 531 deals compared with 647 deals. Factors such as growing labor costs, inflation and high-interest rates have stifled deal activity. Although we’re struggling to call any quarter with 500-plus deals slow, the opening three months of 2023 fell short of the 2022 quarterly average of 603 deals. The swing in announced spending wasn’t nearly as dramatic. In the first quarter of 2023,... Read More »
The US Oncology Network Acquires Regional Cancer Care Associates
The US Oncology Network, which is supported by McKesson Corporation, announced on April 6 that it acquired Regional Cancer Care Associates (RCCA) for an undisclosed price. The acquisition went into effect on April 1, 2023, and RCCA gained access to the expertise resources of The US Oncology Network. RCCA is a leading provider of advanced cancer care and blood disorder treatment in New Jersey, Maryland, Connecticut and Washington D.C. It operates more than 20 locations. RCCA’s 94 physicians and 59 advanced practice providers offer medical, radiation and gynecologic oncology and hematology care in addition to genetic testing, specialty pharmacy services and clinical trials. The US... Read More »
TUSK Partners Advises Grinz Orthodontics in Sale to Smile Doctors
Smile Doctors, a portfolio company of Linden Capital Partners and Thomas H. Lee Partners, has acquired Grinz Orthodontics for an undisclosed price. The dental-focused M&A advisor TUSK Partners represented Grinz Orthodontics in the sale. Founded in 2006, Grinz Orthodontics provides orthodontic care to communities throughout North Carolina and Arizona. Under the leadership of Dr. Richard Ziehmer, Grinz Orthodontics is committed to providing premier dental care to its communities with a patient-centered approach. Smile Doctors is an orthodontic dental support organization with more than 370 locations in 27 states. According to data captured in the LevinPro HC database, this acquisition... Read More »Schedule a demo
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