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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 »
Harvest Partners’ Portfolio Company Acquires KidZdent
Dental Care Alliance, LLC (DCA), a portfolio company of Harvest Partners, announced that it acquired KidZdent. This brings DCA’s footprint in New Jersey to 19 allied practices, and DCA’s total footprint to more than 390 allied practices across the United States. Terms of the deal were not disclosed. Run by Dr. Cavan Brunsden and Dr. Nancy Villa, KidZdent offers orthodontic services in addition to family and pediatric dentistry. The practice has one location in Old Bridge, New Jersey. DCA was founded in 1991 and is headquartered in Sarasota, Florida. DCA is a multi-branded dental support organization with more than 900 dentists across 22 states. DCA’s allied practices represent all... Read More »
Palm Medical Centers Acquires Family Medicine Associates
Coral Gables, Florida-based Palm Medical Centers, an MBF Healthcare Partners II, L.P. portfolio company, announced it acquired Family Medicine Associates, PA. Family Medicine Associates, PA is a primary care practice located in Tamarac, Florida and is run by Dr. Mohammed F. Allahrakha. Palm Medical Centers is a provider of value-based, capitated primary care services with a focus on high-quality clinical outcomes, cost-effective care and a patient-centric experience. In addition to primary care services, the company coordinates cardiology, dentistry, optometry, pediatrics, podiatry, psychiatry and other specialist services. Operating a network of 19 medical centers across five... Read More »
Growthink Capital Announces Acquisition of Two London Clinics
Swiss Dental Services (SDS) announced that it acquired two dental clinics in London, England. The purchase price was not disclosed. Growthink Capital advised SDS on the transaction. SDS provides specialist dentist services concentrating on advanced total oral rehabilitation, with dental implants the most common solution. It is headquartered in Porto, Portugal and operates from 11 clinics across Portugal, Spain and France. SME Capital provided acquisition financing. The acquisition financing was structured as a bespoke five-year loan including a capital repayment holiday and bullet repayment structure to help with the initial integration and maximize cash headroom. According to data... Read More »Schedule a demo
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