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McLeod Physician Associates Acquires Florence Neurosurgery and Spine Center
McLeod Physician Associates announced that it acquired Florence Neurosurgery and Spine Center for an undisclosed price. Operating out of two locations in Florence, South Carolina, Florence Neurosurgery and Spine Center is run by eight providers and a support team of five employees. McLeod Physician Associates’ network comprises seven hospitals with locations in Florence, Darlington, Dillon, Manning, Cheraw, Loris and Little River, South Carolina. It provides an array of specialized services in heart and vascular treatment, cancer, surgery, orthopedics as well as women’s and children’s health. According to data captured in the LevinPro HC database, this acquisition marks the 103rd Physician... Read More »
Thermo Fisher Scientific: Leading the Diagnostic M&A Market With An Aggressive Acquisition Strategy
With 68 diagnostic M&A deals reported throughout 2022, many predicted the demand for the specialty would slow and, possibly, return to its pre-COVID-19 deal volume. Yet, the first few months of 2023 are showing higher than pre-COVID deal numbers. According to data captured in the LevinPro HC database, with 14 acquisitions the diagnostic market accounts for 56% of the 2023 Laboratories, MRI and Dialysis M&A market. In the same time frame of 2022, 25 diagnostic acquisitions were reported, accounting for more than 84%. The most active type of buyer is other laboratories, representing 43% of the diagnostic buyers. And most of the acquirers are public companies, also totaling... Read More »
Pfizer Acquires Seagen for $43 Billion
Pfizer Inc. has acquired Seagen Inc. for $43 billion, representing the largest purchase price for a biotechnology deal in 2023. The transaction is expected to be completed in late 2023 or early 2024. Pfizer will pay $229 in cash for each share of Seagen and pay primarily through $31 billion in new, long-term debt. Shares of Pfizer rose 2% to $40.26 after markets opened on March 13 while Seagen’s stock soared more than 15% to nearly $200. Seagen Inc. specializes in working with antibody-drug conjugate technology. Its key products use lab-made proteins called monoclonal antibodies that seek out cancer cells to help deliver a cancer-killing drug while sparing surrounding tissue. It also has a... Read More »
Sanofi Acquires Provention Bio for $2.9 Billion
Sanofi S.A. announced on March 13 that it acquired Lebanon, New Jersey-based Provention Bio. The purchase price was $25 per share in cash, representing an equity value of approximately $2.9 billion. The transaction adds a first-in-class therapy in type 1 diabetes to Sanofi’s core asset portfolio in general medicines and further drives its strategic shift toward products with a differentiated profile. Provention Bio is a biopharmaceutical company focused on advancing the development of investigational therapies that may intercept and prevent debilitating and life-threatening, immune-mediated diseases. Provention ended Q3:22 with $186.5 million in cash, cash equivalents and marketable... Read More »
Woodside Health Expands Atlanta MSA MOB Footprint
Woodside Health has acquired Research Court, an 80,000-square-foot medical office building (MOB) in Suwanee, Georgia. This marks Woodside Health’s third acquisition in the Atlanta MSA and the 49th addition to its portfolio. Crossgate Partners sold the asset for an undisclosed price. Research Court encompasses two one-story buildings built in 2001 on a 6.4-acre site. The asset was 88% occupied at the time of the sale with its roster featuring medical and office tenants. The property is 30 miles from downtown Atlanta and has access to State Route 141. The property previously traded in 2020 when Crossgate bought it from Alta Properties for $10 million, financing the purchase with a $6.6... Read More »
Move Health Closes Acquisition of Allied Health Clinics in Ontario
Move Health Holdings Corp. announced that it has finalized the terms of its acquisition of 100% of the issued and outstanding shares in PhysioCare and Wellness Clinic Inc and Ortho Neuro PhysioCare Inc. The acquisition grows Move Health’s footprint from three to five clinics and marks the company’s entry into Eastern Canada. The transaction of approximately $1.88 million comprised 85% common shares of Move Health and 15% cash consideration. Immediately accretive to Move Health, the acquisition is expected to add more than $2 million in revenue and more than 14.5% EBITDA in the first year and in advance of any operational synergies and financial efficiencies. PhysioCare and Wellness Clinic... Read More »Panoramic Health Acquires North Shepherd Dialysis Access Center
Panoramic Health announced on March 10 that it acquired Houston-based North Shepherd Dialysis Access Center. This acquisition was announced alongside Panoramic Health’s partnership with Nephrology, Dialysis & Transplantation Associates, P.A. at The Kidney Institute. Panoramic Health plans to convert the North Shepherd Dialysis Access Center into a fully licensed ambulatory surgical center. The financial terms of the acquisition were not disclosed. Panoramic Health is a physician-led, value-based kidney care organization. Panoramic Health’s Clinical Research division partners with sponsors and clinical research organizations to bring cutting-edge treatments to patients with... Read More »
Navis Clinical Laboratories Acquires the Clinical Laboratory Business of Cordant Health Solutions
Navis Clinical Laboratories announced on March 7 that it acquired the clinical laboratory business of Corden Health Solutions. Oakworth Capital Bank acted as servicer and sole agent for a senior secured credit facility for Navis Clinical Laboratories. The financial terms of the acquisition were not disclosed. Cordant Health Solutions provides tools for monitoring patients and clients in behavioral health, chronic pain and criminal justice programs. The laboratory business, which conducts drug, urine, hair and blood testing, is being sold. It is based in Denver. Navis Clinical Laboratories, headquartered in Franklin, Tennessee, provides innovative solutions tailored for healthcare providers... Read More »
Recovery Centers of America Acquires Adolescent & Young Adult Advocates
King of Prussia, Pennsylvania-based Recovery Centers of America has acquired the Bryn Mawr, Pennsylvania-based mental health and addiction treatment provider Adolescent & Young Adult Advocates. Recovery Centers of America said the acquisition will help address early-stage addiction in outpatient settings. Adolescent & Young Adult Advocates will now have the name Adolescent & Young Adult Advocates, Recovery Centers of America. The terms of the deal were not disclosed. Adolescent & Young Adult Advocates offers a comprehensive outpatient treatment program for substance use disorder, anxiety, depression and other mental health issues. It focuses on serving youth aged 14 to 26... Read More »Schedule a demo
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