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Chiesi Farmaceutici Acquires Amryt Pharma
Parma, Italy-based Chiesi Farmaceutici S.p.A. announced its acquisition of Amryt Pharma PLC (NASDAQ: AMYT) for $1.25 billion. Centerview Partners LLC served as exclusive financial advisor and Dechert LLP was the legal advisor to Chiesi. Moelis & Company LLC served as exclusive financial advisor and Cooley LLP and Gibson Dunn & Crutcher LLP were the legal advisors to Amryt. Amryt Pharma is a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases. It was founded in 2015 and is based in Dublin, Ireland. In 2022, the company reported revenue of $220 million. Chiesi... Read More »
Elevance Health Acquires Blue Cross and Blue Shield of Louisiana
Elevance Health has acquired Blue Cross and Blue Shield of Louisiana (BCBSLA), which will join Elevance Health’s affiliated Anthem Blue Cross Blue Shield family of brands. Terms of the deal were not disclosed. BCBSLA is the biggest provider of health insurance in Louisiana, serving more than 1.9 million members. Formerly Anthem, Inc., Elevance Health’s companies serve more than 119 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical and complex care solutions. According to data captured in the LevinPro HC database, this transaction marks the third Managed Care transaction of 2023. There were 43 Managed Care deals reported in... Read More »
Concentra Acquires Connecticut Occupational Health Locations
Concentra, Inc. announced on January 23 that it acquired PhysicianOne Urgent Care’s Connecticut occupational health business. PhysicianOne provides walk-in and virtual medical care for non-life-threatening illnesses and injuries around the clock. PhysicianOne’s 16 occupational health locations in Connecticut are being acquired. PhysicianOne still operates five Massachusetts and three New York locations. Concentra, a division of Select Medical, is a premier provider of occupational health services focused on improving the health of America’s workforce, one patient at a time. The company is headquartered in Addison, Texas and operates more than 540 urgent care centers in 44... Read More »
Lifepoint Health Acquires Cornerstone Behavioral Health El Dorado
Lifepoint Health announced on January 23 that it acquired Cornerstone Behavioral Health El Dorado. Cornerstone Behavioral Health El Dorado’s operations will be rolled into the Lifepoint behavioral health business. Lifepoint plans to invest in Cornerstone Behavioral Health El Dorado’s growth and plans to add nearly 50 beds to the facility in the coming months. Terms of the deal were not disclosed. Cornerstone Behavioral Health El Dorado is a 54-bed facility in Tucson, Arizona. It offers acute inpatient treatment for mental health and substance use disorders Lifepoint Health, a subsidiary of RCCH HealthCare Partners, owns and operates 62 community hospitals, more than 30 rehabilitation and... Read More »
PE-Backed Together Women’s Health Purchases Women’s Health Consulting
Together Women’s Health (TWH) announced on January 24 that it acquired Women’s Health Consulting. Women’s Health Consulting is a leading women’s health, obstetrics and gynecologic practice in Chicago, Illinois, with privileges at Northwestern Medicine Prentice Women’s Hospital. It is run by a team of five providers. TWH is a management services organization backed by Shore Capital Partners. TWH supports its affiliated practices and physician partners with strategic guidance, administrative resources (including revenue cycle management, marketing, human resources, finance, accounting and IT), operational expertise and capital. This acquisition brings TWH’s affiliate network to eight... Read More »
Eir Partners-Backed ReviveHealth Acquires SwiftMD
ReviveHealth has acquired SwiftMD, a virtual care services company with a strong physician network. The acquisition was facilitated by ReviveHealth’s parent company Eir Partners LLC, a Miami-based private equity firm that invests in high growth healthcare companies. Eir Partners took a majority interest in ReviveHealth as a part of the transaction. Terms of the deal were not disclosed. SwiftMD’s platform features U.S. trained board-certified doctors that provide 24/7 care. ReviveHealth is a subscription solution that provides employees and consumers with fully integrated care including primary and urgent care, mental health therapy, physical therapy, pharmacy benefits and care... Read More »
People on The Move
In this short segment, we want to highlight two people who have recently moved companies in the healthcare space. Andrew Sartoris, MBA Andrew Sartoris, MBA is joining Regent Surgical Health as Vice President of Strategic Initiatives. Previously the Assistant Vice President of Strategy & Innovation at HCA Healthcare, Inc., Sartoris led and advanced enterprise and business unit growth initiatives in support of HCA’s portfolio of more than 180 hospitals and 2,000 ambulatory care sites in 20 states as well as across the United Kingdom. In Sartoris’ new position at Regent Surgical Health, he will use his expertise to shape Regent’s direction. He will work closely with the leadership team... Read More »
Will 2023 be the Year Medical Office Building M&A Activity Declines?
Did transaction activity peak in 2022 in the medical office building (MOB) market? While that question will officially be answered at the end of this year, it may already be time to start thinking about the possibility of a drop in MOB deal activity in 2023. According to data captured from the LevinPro HC database, there were 214 MOB deals in 2022 and 160 MOB transactions in 2021. Alan Pontius, senior vice president and national director of Marcus & Millichap’s office, industrial and healthcare divisions, discussed headwinds that look to shape the MOB market in 2023. “We’ll probably see a flattening, even a modest decrease, in overall activity,” Pontius said. “In the first quarter of... Read More »
UnitedHealth Group Posts $4.9 Billion Profit in Q4:22 Earnings
UnitedHealth Group (NYSE: UNH) announced its financial results for the fourth quarter ended December 31, 2022. The company offers products through two business platforms: UnitedHealthcare, which provides healthcare coverage and benefits services; and Optum, a pharmacy benefit manager and health care provider. UnitedHealth Group recorded double-digit percentage growth in revenue year over year across UnitedHealthcare and Optum, driven primarily by both lines of businesses expanding to provide more comprehensive care to a larger base of people across the U.S. The Minnetonka, Minnesota-based company reported: A 12.3% increase in net revenue from $73.7 billion in Q4:21 to $82.8 billion in... Read More »Schedule a demo
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