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GE Healthcare Acquires Caption Health
GE Healthcare has acquired Caption Health, Inc. The transaction is subject to customary closing conditions. Financial terms of the deal are not being disclosed. GE Healthcare intends to fund this transaction with cash on hand. Caption Health is a privately owned artificial intelligence (AI) healthcare company that creates clinical applications to aid in early disease detection, using AI to assist in conducting ultrasound scans. GE Healthcare, a subsidiary of GE, manufactures and distributes diagnostic imaging agents and radiopharmaceuticals for imaging modalities that are used in medical imaging procedures. According to data captured in the LevinPro HC database, this acquisition represents... Read More »
Medline Acquires ShiftKey
Northfield, Illinois-based Medline Industries, Inc. has acquired ShiftKey, which is based in Irving, Texas. ShiftKey integrates with a solution in Medline’s tech portfolio, OnShift, an end-to-end workforce engagement platform. This integration provides a view of the schedule, including facility employees, agency workers and those on the ShiftKey platform all in one place. Prior to this transaction, ShiftKey made a strategic investment in OnShift to further complement its workforce technologies. Terms of the deal were not disclosed. ShiftKey is a scheduling and credential management platform designed to combat the national healthcare staffing shortage by empowering healthcare... Read More »
Ampersand-Backed Sterling Medical Devices Merges With RBC Medical Innovations
Sterling Medical Devices, a portfolio company of private equity firm Ampersand Capital Partners, announced on February 8 its recapitalization and simultaneous merger with RBC Medical Innovations. RBC brings additional design and development capacity, including expertise in energy-based electromechanical devices, as well as manufacturing capabilities to the combined organization. As part of the transaction, MedTech industry executive David Montecalvo has been appointed CEO of the combined company. Sterling Founder Dan Sterling will remain on the senior leadership team and a board director. RBC Founder Carl Mayer has joined the board of directors. RBC Medical Innovations is a medical device... Read More »
CVS Health Acquires Oak Street Health for $10.6 Billion
CVS Health announced on February 8 its acquisition of Oak Street Health in an all-cash transaction at $39 per share, representing an enterprise value of approximately $10.6 billion. This marks CVS Health’s third largest deal in the last decade and fourth in the company’s history. With the purchase of Oak Street Health, CVS Health will control more than 160 primary care centers that offer routine health screenings and diagnosis to adults. Oak Street Health is a health care network of primary care centers for older adults on Medicare. The company leverages value-based care payment structures to improve outcomes and curb cost. Oak Street Health, which went public in 2020, operates... Read More »
PE Firm Shore Capital Partners Sells Argentum Medical to BioDerm
Chicago-based private equity firm Shore Capital Partners announced the sale of Argentum Medical to BioDerm, a portfolio company of Denver-based private equity firm Mountaingate Capital. The transaction closed on January 31, 2023. Moelis & Company served as financial advisor to Argentum and Winston & Strawn LLP served as legal advisor to Shore and Argentum. Terms of the deal were not disclosed. Based in Geneva, Illinois, Argentum is a provider of infection prevention solutions for the management of wounds. Notably, it manufactures Silverlon, a silver-plated nylon dressing with unique antimicrobial properties. Argentum’s product lines include surgical, burn care, wound care, negative... Read More »
Avania Acquires MAXIS
Avania, which is headquartered in the Netherlands, has acquired San Jose, California-based MAXIS. MAXIS’ clients will benefit from Avania’s international footprint, gaining access to the company’s network in the U.S., EU and Australia. Avania brings enhanced services to the combined company — including biostatistics, data analytics and medical writing. Terms of the deal were not disclosed. Avania is a contract research organization with specialized expertise in medical devices, novel technology and combination products. It advances products from feasibility through post-approval trials in analytics, clinical trials, consulting, regulatory and reimbursement. MAXIS is a medical technology... Read More »
Healthcare M&A Deal Volume Plummets 30% in January Amid ‘Fear, Uncertainty, Doubt’
Industry professionals involved in healthcare M&A transactions saw a drastic decline in deal volume during the first month of 2023. According to data captured in the LevinPro HC database, 210 transactions were reported in January. This represents a 30% decline compared to the 301 deals posted in January 2022. A record 2,397 transactions were reported in 2022 following 2,218 deals in 2021. There were 59 transactions in January 2022 with reported prices that totaled approximately $26.2 billion. The recently concluded month featured 36 deals with reported prices that totaled about $7.9 billion for a total price decline of 70%. “No sector [including health care] has been immune to... Read More »
Montecito Medical acquires Bensalem, Pennsylvania MOB
Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a medical office building (MOB) in the greater Philadelphia market area. The 27,500 square-foot MOB, located in Bensalem, Pennsylvania is tenanted by two prominent provider groups, Alliance Cancer Specialists and US Digestive Health/Gastrointestinal Specialists. The property includes an ambulatory surgery center with four operating rooms. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. The acquisition expands... Read More »
OrthoCincy Orthopaedics Acquires Ortho Louisville Orthopaedics
OrthoCincy Orthopaedics & Sports Medicine announced on February 6 that it acquired Ortho Louisville Orthopaedics & Sports Medicine. The deal went into effect on January 1, 2023, and Ortho Louisville began operating as a division of OrthoCincy. This acquisition brings OrthoCincy footprint to 45 doctors, 23 physician assistants and nine nurse practitioners with more than 560 total staff. Terms were not disclosed. Ortho Louisville Orthopaedics & Sports Medicine has one location in Louisville, Kentucky and one location in New Albany, Indiana. It is run by a team of five physicians and 16 support staff. OrthoCincy is an orthopedic surgery and sports medicine physician practice... Read More »Schedule a demo
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