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Agenda Health Facilitates Sale of HealthKeeperz’s Home Health Business to BAYADA Home Health Care
HealthKeeperz, a home and community-based health care service provider based in Pembroke, North Carolina, announced in early March its plans to sell its home health business to BAYADA Home Health Care (BAYADA). The transaction was expected to be completed by the end of March, with a focus on minimizing the impact on current HealthKeeperz employees, patients and partners. The deal was facilitated by Agenda Health, a faith-based, healthcare-focused M&A advisory firm based in Austin, Texas. Founded in 1966, HealthKeeperz provides palliative care, equipment and services that combine medical care with emotional and spiritual support for the patient and their family. As part of an integrated... Read More »
Windsong Medical Park Deal Expands Montecito Medical’s Footprint in Western New York
Montecito Medical Real Estate has expanded its footprint in the Buffalo-Niagara Falls MSA with its recent acquisition of Windsong Medical Park in the Williamsville neighborhood of Amherst, New York. The deal took the better part of a year to complete and marks Montecito’s second acquisition in the region. In November 2022, Montecito purchased a property occupied by the Ambulatory Surgery Center of Western New York in Amherst, New York. Windsong Medical Park is a two-story, 83,000-square-foot medical office park. Windsong Radiology Group, a dominant practice in the region and the seller in the transaction, maintains its main campus in the medical park. Kaleida Health leases 25,000... Read More »
Four Corners Property Trust Acquires WellNow Urgent Care Property in Indiana
Four Corners Property Trust (FCPT) announced the acquisition of a WellNow Urgent Care property in Indiana for $2.5 million. The newly constructed property is located in a strong retail corridor and corporate-operated under a long-term, net lease. The transaction was priced at a cap rate in range with previous FCPT transactions. Since 2021, FCPT’s transactions have ranged from $1.8 million to $3.4 million. FCPT, headquartered in Mill Valley, California, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use... Read More »Ascend Vision Partners Acquires Elgut Eye Care
Ascend Vision Partners (AVP), a portfolio company of private equity firm Chicago Pacific Founders, announced on March 29 that it acquired Elgut Eye Care for an undisclosed price. The partnership represents AVP’s seventh in Florida and third acquisition of the year. Elgut Eye Care is led by the physician team of Drs. Noel Elgut and Cody Ott. The practice has served patients in Fort Lauderdale, Florida, and the surrounding area for more than 30 years and offers a full suite of ophthalmic services. Established in 2022, AVP delivers business solutions for eye care professionals, allowing ophthalmologists and optometrists to focus on patient care. The company’s 300 employees provide... Read More »
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 »Schedule a demo
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