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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 »
Sun Pharmaceutical Industries Acquires Concert Pharmaceuticals in $576 Million Deal
Sun Pharmaceutical Industries Limited has acquired Concert Pharmaceuticals, Inc. for $576 million. Sun Pharma will acquire all outstanding shares of Concert through a tender offer for an upfront payment of $8 per share of common stock in cash. Concert stockholders will also receive a non-tradeable contingent value right (CVR) entitling holders to receive up to an additional $3.50 per share of common stock in cash, payable upon Concert’s candidate deuruxolitinib achieving certain net sales milestones within specified periods, subject to the terms and conditions contained in a contingent value rights agreement detailing the terms of the CVRs. Concert is a late-stage clinical... Read More »
Aegis Sciences Corporation Acquires HealthTrackRx Toxicology’s Business
Nashville-based Aegis Sciences Corporation announced that it acquired HealthTrackRx Toxicology’s line of business. HealthTrackRx is one of the nation’s premier polymerase chain reactions (RT-PCR)-based infectious disease laboratories. It was founded with a focus on clinical toxicology testing. Founded in 1990, Aegis Sciences Corporation is a laboratory sciences company that provides testing and consulting services to healthcare providers, pharmaceutical companies, professional and amateur sports organizations, college and university athletic programs, Fortune 500 corporations and government agencies throughout the United States. The financial terms of the acquisition were not... Read More »
Concentra Acquires Lehigh Valley Health Network’s Occupational Health Business in Bethlehem and Allentown, Pennsylvania
Concentra, Inc., a division of Select Medical, announced on January 23 the acquisition of the occupational health business of Lehigh Valley Health Network (LVHN) in Bethlehem and Allentown, Pennsylvania. This includes the former LVHN locations of HealthWorks–Allentown, HealthWorks–Trexlertown, HealthWorks–Bethlehem, Healthworks–Bethlehem Township and HealthWorks–Highland Avenue (previously Coordinated Health–Highland Avenue). All occupational health services previously provided at these locations are now provided by Concentra. Terms of the deal were not disclosed. Concentra’s Bethlehem and Allentown centers offer the full suite of occupational health services, including work injury care,... Read More »
Companion Spine Acquires Backbone
New York-based Companion Spine LLC has acquired Backbone SAS. Founded in 2015 and based in France, Backbone designs, develops, manufactures and markets implantable medical devices for spine surgery. The acquisition of Backbone by Companion Spine strengthens the company’s scientific link with the School of Spine Surgery of the University of Bordeaux. Founded in 2020, Companion Spine specializes in the diagnosis and interventional and surgical treatment of spine conditions. Companion Spine’s technologies and solutions target degenerative disc disease and lumbar spinal stenosis. According to data captured from the LevinPro HC database, this acquisition represents the 11th Medical... Read More »
Eden Health Acquires Community Home Health & Hospice’s Inpatient Services
Eden Health announced its plan to acquire Washington state-based Community Home Health & Hospice’s (CHHH) inpatient programs for an undisclosed price. Eden Health will take over CHHH’s inpatient services effective May 1, 2023. The deal expands Eden Health’s home health and hospice footprint in Washington. According to Jodie Zelazny, CHHH’s director of community development, CHHH began reaching out to regional partners approximately a year ago to divest its inpatient services while maintaining continuity of patient care and staff employment. Established in 1977, CHHH has an average daily census of 600 patients. Eden Health is a subsidiary of Washington-based EmpRes Healthcare,... Read More »
VillageMD Acquired Dallas-Based Multi-Specialty Physician Practice
VillageMD, a subsidiary of Walgreens, announced on January 19 that it acquired Dallas Internal Medicine and Geriatrics Specialists PLLC, a three-provider practice in Garland, Texas. Dallas Internal Medicine and Geriatrics Specialists provides patients with comprehensive medical care that encompasses internal medicine, geriatric medicine and urgent care services. VillageMD provides tools, technology, operations and staffing support for physician groups, independent practice associations and health systems. VillageMD, through its subsidiary Village Medical, is a national provider of value-based primary care services. VillageMD and Village Medical have grown to 22 markets and are... Read More »Schedule a demo
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