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Healthcare M&A Activity Will Post Another Drop in the First Quarter
With the first quarter of 2023 winding down, it is clear that healthcare M&A deal volume will continue to shrink. According to data captured in the LevinPro HC database on March 30, there were 502 deals recorded since the start of the year. This compares with 553 transactions posted in the fourth quarter of 2022, representing a 9% decline. This compares with totals of 612 and 598 in the third and second quarters of 2022, respectively. The current 2023 amount represents a 22% drop from the 647 posted in the first quarter of 2022. The eHealth sector has shown dramatic declines in deal volume from the 120 recorded in the first quarter of 2022. Transactions plummeted to 48 in the fourth... Read More »
Merakey Acquires Elwyn, Creating a $1 Billion Company
On March 28, Merakey announced that it was merging with Elwyn, creating an entity with approximately $1 billion in annual revenue. The merger will create a company with a 12,000-person workforce caring for 55,000 individuals in 16 states. The new company will focus on delivering holistic care and coordinating physical, behavioral and educational services for people with IDD. Elwyn is a Media, Pennsylvania-based provider that offers education, treatment and supportive services to children and adults with autism and IDD. Founded in 1852, the provider currently operates in eight states. The company reported approximately $385 million in revenue in 2022. Merakey is a leading... Read More »
United Musculoskeletal Partners Acquires Orthopedic Associates
United Musculoskeletal Partners (UMP), a portfolio company of private equity firm Welsh, Carson, Anderson & Stowe, announced on March 28 that it was expanding its Texas presence with the acquisition of Orthopedic Associates (OA). OA was founded in 1976. With locations in Flower Mound and Northlake, Texas, OA provides comprehensive musculoskeletal care, including surgical and non-surgical treatment, imaging, physical therapy, bracing, biologics and outpatient procedures. It is run by 11 physicians. UMP was formed in December 2021 by Resurgens Orthopaedics and Welsh, Carson, Anderson & Stowe. UMP partners with physician-owned orthopedic practices to deliver clinical care... Read More »
Atkins Companies Acquires Washington Medical Arts Building
Atkins Companies announced on March 29 that it acquired a medical office building (MOB) in Washington Township, New Jersey. The Washington Medical Arts Building is a two-story, Class-A building that is leased to several healthcare and wellness tenants including Weisman Children’s, Rowan Medicine, Select Surgical Center and Jefferson Health. It contains more than 70,000 square feet. Atkins Companies is a multigenerational commercial real estate developer, investor and property manager. It is based in West Orange, New Jersey. The acquisition is Atkins Companies’ latest investment in Washington Township, which is in New Jersey’s Gloucester County. The financial terms of the... Read More »
Bad Timing: Fed Raises Borrowing Costs During ACG NY Healthcare Conference
Some of the leading experts in the healthcare industry convened at the ACG NY 15th Annual Healthcare Conference in New York City, and spirits were high amid the volatile environment surrounding M&A. No one brushed aside the headwinds facing the industry, such as inflation, labor shortages and costs, and rising interest rates during the March 22 event. Investors, analysts, lenders and advisors were confident they could close deals and grow businesses, but it’s going to require a more hands-on approach. “You need to have a tailored thesis for each business,” said Andrew Colbert, senior managing director at Ziegler, during one of the panel discussions. “You can’t have a... Read More »
Skyrocketing Investor Interest Driving Behavioral Health Real Estate Industry
Andrew Sfreddo of Blueprint Offers Insights For Investors The behavioral health market has surged in recent years. A rise in patients seeking mental health services coupled with an increase in access has transformed the sector, especially from an M&A perspective. In 2012, there were 17 deal announcements, mostly carried out by Acadia Healthcare Company, Inc., one of the largest publicly traded providers in the industry. Fast forward to 2022 when there were 108 deal announcements, with private equity-backed platforms, health systems, and managed care companies driving much of the activity. Most of these deals have focused on the operators and providers in the space, with scarce... Read More »
Somatus Acquires Duneland Nephrology
McLean, Virginia-based Somatus announced a new value-based care partnership with Duneland Nephrology. This acquisition brings care to patients with chronic kidney disease and end-stage kidney disease in northwest Indiana. The financial terms of the deal were not disclosed. Duneland Nephrology serves patients throughout northwest Indiana. It is run by four physicians out of one location. The practice provides care for chronic kidney disease, end-stage renal disease, dialysis, renal transplant follow-up and more. As one of the nation’s leading and largest value-based kidney care companies, Somatus partners with nephrology and primary care groups, health plans and health systems... Read More »Dental Care Alliance Acquires Evanston Dental Associates
Dental Care Alliance (DCA), a portfolio company of New York-based private equity group, Harvest Partners, announced its acquisition of Evanston Dental Associates. Evanston Dental Associates serves Evanston, Illinois, and the surrounding areas. It was founded in 1995 and is run by three providers. The office provides comprehensive exams, oral cancer screenings, cosmetic dentistry, Invisalign, dental implants, children’s dentistry and more. DCA was founded in 1991 and headquartered in Sarasota, Florida. It is a multi-branded dental support organization with more than 390 affiliated dental offices and more than 900 dentists across 22 states. DCA’s allied practices represent... Read More »
Anchor Health Properties Acquires Grove City, Ohio MOB
Anchor Health Properties closed on a two story, 38,327-square-foot Class A medical office building (MOB) in the Grove City submarket of Columbus, Ohio. The off-market transaction was acquired through Anchor’s discretionary equity fund, Chestnut Healthcare Fund II, co-managed with Chestnut Funds. Engle Real Estate provided sales advisory services on behalf of the seller, Trivium Development LLC, for this off market transaction. First Citizens Bank and CIT provided debt financing services. As the new owner, Anchor will provide go forward asset and property management services at the MOB. Financial terms of the deal were not disclosed. The 100% occupied MOB was constructed by Trivium... Read More »Schedule a demo
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