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The Stepping Stones Group Announces Its First Acquisition of 2023
The Stepping Stones Group, based in Lafayette, Colorado, announced its purchase of Catalyst Speech Language Pathology. Catalyst Speech Language Pathology is a provider of school-based, speech-language pathology services in the greater Los Angeles area. It provides services to more than 20 schools. The Stepping Stones Group, a portfolio company of Five Arrows Capital Partners, provides therapy and behavioral health services to children in the K-12 educational setting. Stepping Stones serves more than 1,000 clients and 300,000 children across 42 states each year. Catalyst Speech will continue to operate and market itself as a standalone entity. Financial terms of the transaction were... Read More »
Private Equity Leads Physician Medical Group M&A Activity in 2022
According to data captured in the LevinPro HC database, 2022 was a historic year for the Physician Medical Groups (PMG) sector with 607 deals, an approximate 33% increase from 2021 when 457 PMG transactions were announced. Private equity firms, and/or their portfolio companies, dominated the PMG sector, accounting for 423 of the transactions last year, or approximately 70%. The most active subsectors were dental with 226 deals (37% of the transaction total), eye care with 87 transactions (14%) and orthopedic with 35 deals (6%). From the previous year, dental increased 151% from 90 transactions, eye care decreased 11% from 98 deals and orthopedic increased 25% from 28... Read More »
Amid Headwinds and Competition, Health Systems Look to New Markets in 2023
Hospitals and health systems have a complicated path ahead of them in 2023. Headwinds such as inflation, labor issues and operational costs have hit the industry hard, and M&A activity over the past two years has stagnated. Preliminary numbers from 2022 show that transaction volume remained level with 2021 numbers, with 65 and 64 announced mergers, respectively. Spending values were also remarkably unchanged year over year, based on disclosed prices. Spending in 2022 reached $9.2 billion, a small 7% decline compared with totals in 2021, which hit $9.87 billion. For context, in 2020, transaction volume climbed to 79 deals, and in 2019, it soared to 100 deals. COVID-19 is an obvious... Read More »
Southeast Primary Care Partners Acquires Ladiga Medical
Southeast Primary Care Partners has acquired Ladiga Medical, LLC, which will continue to serve patients under Ladiga Family Medicine. Terms of the deal were not disclosed. Ladiga Medical has been operating in Jacksonville, Alabama, since 2004. The practice serves the residents of the Piedmont region. Southeast Primary Care Partners is a primary care-focused management services organization. According to data captured in the LevinPro HC database, this marks the 15th Physician Medical Groups (PMG) deal of 2023. There were 608 PMG transactions reported in 2022. Read More »
Sentara Healthcare Acquires AvMed Health Plan
Sentara Healthcare, a Norfolk, Virginia-based nonprofit healthcare system, has acquired nonprofit health plan AvMed for an undisclosed price. AvMed is based in Miami with regional offices in Fort Lauderdale and Gainesville, Florida. It has more than 200,000 health plan members and nearly 500 employees. More than 35,000 health care providers are in its network. Sentara Healthcare operates more than 100 sites of care, including 12 hospitals, four medical groups and multiple imaging centers throughout Virginia and northeastern North Carolina. The company’s Sentara Health Plans division has more than 1.2 million members. According to data captured in the LevinPro HC database, this marks... Read More »
SimiTree Acquires Afia, GreenpointMed
SimiTree has acquired Afia and GreenpointMed. Greenberg Advisors, LLC served as exclusive M&A advisor to SimiTree. Terms of the deal were not disclosed. SimiTree, which is based in Hamden, Connecticut, provides tech-enabled specialty revenue cycle management, coding, professional services and talent management resources for post-acute and behavioral health organizations. Ann Arbor, Michigan-based Afia uses data-driven decision-making to solve business challenges by simplifying EHR implementations, driving clinical best practice, optimizing revenue cycles and creating IT infrastructures. Founded in 2016, Boca Raton, Florida-based GreenpointMed is a medical billing and credentialing... Read More »
Akeso Occupational Health Acquires Immediate Medical Center
Akeso Occupational Health announced its acquisition of Immediate Medical Center, an occupational health provider with four southern California clinics located in Commerce, Lakewood, La Mirada and Paramount. With this acquisition Akeso has expanded to 20 clinics throughout California. Terms of the deal were not disclosed. Immediate Medical Center’s occupational medicine clinics have been a resource for a wide range of industries, school districts and municipalities for more than 35 years. Headquartered in Irvine, California, Akeso Occupational Health develops occupational medicine clinic groups, focusing on the evaluation and treatment of health issues that arise from work or environmental... Read More »
Sunvera Group Acquires Zimm Cataract & Laser Center, Premier Surgical Center
Sunvera Group has acquired Zimm Cataract & Laser Center and its affiliate Premier Surgical Center. The transaction establishes Sunvera Group’s presence in the Pennsylvania market and extends its network of ophthalmology practices and surgery centers. Zimm Cataract & Laser Center and Premier Surgical Center are based in Erie, Pennsylvania. McGuireWoods LLP provided legal services to Sunvera. Physician Growth Partners served as the exclusive financial advisor to Zimm Cataract & Laser Center and Wade, Goldstein, Landau & Abruzzo, P.C. provided legal services. Terms of the deal were not disclosed. Zimm Cataract & Laser Center provides services such as cataract surgery,... Read More »
InTandem Capital Partners Announces Strategic Investment in HouseWorks
InTandem Capital Partners, LLC announced on January 12 the completion of its equity investment in HouseWorks, one of the nation’s largest independent home care companies. Goodwin Procter LLP served as legal counsel for InTandem Capital. Edgemont Partners served as the firm’s exclusive financial advisor. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel for HouseWorks and SVB Securities served as the company’s exclusive financial advisor. Financial terms of the transaction were not disclosed. Founded in 1999 and based in Woburn, Massachusetts, HouseWorks is one of the nation’s largest independent home care companies. InTandem Capital Partners is a... Read More »Schedule a demo
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