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Gentiva Acquires ProMedica’s Heartland Home Health and Hospice Assets for $710 million
Gentiva, backed by Clayton, Dubilier & Rice, LLC (CD&R) and Humana, Inc., announced on February 28 that it acquired ProMedica’s Heartland home health and hospice assets for $710 million. The deal is expected to close in the second quarter of 2023. This acquisition will allow Gentiva to expand its footprint from 380 locations to 500 locations, and its patient census from 25,000 to 34,000. In addition to its home-based care and hospice capabilities, ProMedica has 12 hospitals, more than 2,500 physicians, a health plan, assisted living facilities, skilled nursing centers, memory care communities and outpatient rehab clinics. Gentiva is a network of family hospice, palliative and... Read More »
TriasMD Acquires Southern California Ambulatory Surgery Center
TriasMD announced on February 28 its acquisition of Gateway Surgery Center, an ambulatory surgery center (ASC) in Santa Clarita, California. The move delivers on TriasMD’s promise to expand the data/evidence-driven ambulatory surgery center (ASC) model created by DISC Sports & Spine Center. With the addition of this ASC, DISC is expanding its reach, building on the patient community it has established in Orange County. As part of the acquisition, TriasMD becomes managing partner of the facility – to be renamed DISC Surgery Center at Gateway – and will work with its physician partners to integrate DISC’s standards in the form of protocols, state-of-the-art equipment and... Read More »
How Ascension and Kaiser are Responding to Physician Practice Consolidation
M&A activity in physician practices continues to have a significant presence in the healthcare landscape as practices compete against each other for market control. To make their mark on patients and grow, physician groups are forced to carve out a distinctive place in the industry. According to data captured in the LevinPro HC database, there were 51 Physician Medical Groups (PMG) transactions announced during January 2023, a 35% decline from January 2022 when 79 PMG deals were reported. The dental specialty had the most transactions, representing approximately 24% of all January 2023 PMG acquisitions, an increase from January 2022 when dental represented more than 20% of the PMG... Read More »
RX Health and Science Trust Acquire Atlanta Medical Office Building
RX Health and Science Trust (RXHST) announced that it acquired a four-building medical office building (MOB) in Atlanta, Georgia. The property, called Union Park, consists of more than 178,000 square feet. This acquisition brings RXHST’s portfolio to 11 medical office buildings with more than 580,000 square feet. The financial terms of the acquisition were not disclosed. Founded in 2022 and based in Chicago, Illinois, RXHST is a private REIT focused on the investment, development and operation of medical office facilities across the U.S. According to data captured in the LevinPro HC database, this marks the 38th MOB transaction of 2023. Read More »Sage Dental Acquires Two Dental Practices
Sage Dental Management, LLC, a portfolio company of Linden Capital Partners, announced it has expanded its presence with its acquisition of Soft Heart Dentistry and the practice of Dr. Maulin Patel. This is Sage Dental’s first transaction of 2023. Soft Heart Dentistry was renamed Sage Dental of Lawrenceville. The practice of Dr. Maulin Patel was renamed Sage Dental of Brandon. The financial terms of the acquisitions were not disclosed. Soft Heart Dentistry is run by two dentists and offers care through its Lawrenceville, Georgia location. The practice of Dr. Maulin P. Patel provides advice on proper brushing, flossing, cleaning, healthy gums and other dental care out of Brandon, Florida.... Read More »
The Transcripts: Takeaways from CVS, Teladoc, and DaVita Earnings
In our first earnings roundup, we looked at the fourth-quarter and full-year 2022 financial performance of three major publicly traded companies in the managed care market. They achieved positive operating and financial results for 2022, with some even surpassing their expectations for the year. To read more about earnings results in the managed care market, you can read that spotlight on the LevinPro HC platform here. This week, we’re looking at companies in other healthcare verticals, including retail, dialysis and eHealth. CVS Health Corporation, Teladoc Health, Inc. and DaVita Inc are all prominent in their respective fields, and their financial performance can reveal much about the... Read More »
Clarapath Acquires Medical AI Software Company Crosscope
Clarapath announced on February 27 its acquisition of Mountain View, California-based Crosscope. The acquisition combines Clarapath’s SectionStar with Crosscope’s workflow and computational pathology tools enabling labs to deliver care faster, more cost effectively and at a higher quality. Terms of the deal were not disclosed. Crosscope (abbreviated for “Computational Microscope”) is a digital pathology company with a turnkey imaging solution providing best-in-class workflow tools and slide management along with artificial intelligence and machine learning technology to assist pathologists with faster decision-making. Clarapath is a medical robotics company aimed at... Read More »
New Zealand-Based Broadway Radiology Joins Canopy Healthcare Group
Palmerston North, New Zealand-based Broadway Radiology announced on February 27 that it is joining Canopy Healthcare Group, which is one of New Zealand’s largest healthcare companies. The Broadway Radiology team will remain unchanged. Terms of the deal were not disclosed. Broadway Radiology is the largest private provider of diagnostic radiology serving the Manawatu and Horowhenua regions, with four locations and a team of five radiologists. Canopy Healthcare is a New Zealand-based healthcare provider, comprising 18 diagnostic clinics, six oncology clinics, a private breast surgical and diagnostic center and a drug compounding business. According to data captured in the LevinPro HC... Read More »
Pediatric Affiliates PA Partners With Private Equity Firm Webster Equity Partners
Pediatric Affiliates PA has partnered with Webster Equity Partners, a healthcare-focused private equity firm. Physician Growth Partners served as the exclusive transaction advisor to Pediatric Affiliates in its evaluation, negotiation and execution of the transaction. Pediatric Affiliates recently enhanced its practice offering regarding behavioral health services. Terms of the deal were not disclosed. Pediatric Affiliates is a network based in Toms River, New Jersey. Pediatric Affiliates serves as one of New Jersey’s largest pediatric groups, operating in six locations across New Jersey with a focus on underserved patient populations. The practice is run by 10 physicians. Founded in 2003,... Read More »Schedule a demo
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