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Cressey & Company, Health Enterprise Partners Acquire The InterMed Group
Cressey & Company LP and Health Enterprise Partners (HEP) announced on January 5 that funds affiliated with the two private equity firms have acquired The InterMed Group, a provider of healthcare technology management services, from Granite Bridge Partners. Harris Williams LLC served as financial advisor to InterMed. Terms of the deal were not disclosed. The partnership with Cressey and HEP will expand InterMed’s ability to help hospitals and healthcare systems manage inventories of complex medical equipment efficiently and cost effectively. The InterMed Group provides end-to-end healthcare technology and equipment management services to hospitals and health systems across the... Read More »
Agilent Technologies Acquires Avida Biomed
Agilent Technologies Inc. has acquired Avida Biomed. The acquisition augments Agilent’s strategy to expand into the high-growth clinical research and diagnostics markets. Terms of the deal were not disclosed. Agilent provides bio-analytical solutions and services to the life sciences, diagnostics and genomics, chemical analysis, communications and electronics industries worldwide. Its global headquarters is in Santa Clara, California. Agilent was established in 1999 as a spin-off from Hewlett-Packard. Fremont, California-based Avida Biomed is an early-stage life sciences company that develops target enrichment workflows with capabilities for clinical researchers utilizing next-generation... Read More »
Akeso Occupational Health Expands In Southern California
Irvine, California-based Akeso Occupational Health announced its acquisition of Inland Empire Occupational Medicine. This transaction represents the first occupational health acquisition of the year, according to data captured from the LevinPro HC database. Inland Empire Occupational Medicine was founded in Riverside, California, more than 25 years ago. It focuses on occupational therapy. Founded in 2018, Akeso Occupational Health develops occupational medicine clinic groups, focusing on the evaluation and treatment of health issues that arise from work or environmental exposures, enabling injured employees to return to work. In 2022, the company completed four transactions. This... Read More »
Echo Health Acquires Prelude Software
Echo Health, Inc. announced on January 5 that it acquired Prelude Software for an undisclosed amount. Prelude Software is the provider of the disbursement-hub solution PayPilot, a platform that helps carriers extend the capabilities of their systems, including claims, billing, policy and other applications by centralizing and streamlining security and control of outbound payments. Echo Health is a Westlake, Ohio-based health care payment technology and services provider. The acquisition will combine Prelude’s PayPilot solution and Echo’s digital payment platform. According to data captured from the LevinPro HC database, this acquisition represents the first eHealth transaction... Read More »
Karrington Clinical Laboratory Acquires Matrix Clinical Laboratory
Karrington Clinical Laboratory has acquired Matrix Clinical Laboratory from Matrix Medical Network. The sale is part of the strategy Matrix Medical Network announced in 2022 to refocus its portfolio of services on in-home health and care assessments. Terms of the deal were not disclosed. Karrington will focus on the continued growth of the lab, develop new and improved molecular diagnostic testing and laboratory processes, and expand its testing menu using its minimally invasive phlebotomy technology. Matrix Clinical Laboratory is a CLIA-certified and CAP-accredited laboratory delivering clinical diagnostic tests. According to data captured in the LevinPro HC database, this is the first... Read More »
Kaufman Hall’s National Hospital Flash Report Reveals a Rough 2022 for Hospitals
A recently published National Hospital Flash Report from Kaufman Hall found that median hospital margins remained negative for 2022. The report was published on January 4, 2023, and tracked data up to December 2022. According to the report, hospital margins hit a low of -3.4% in January 2022 but steadily increased over the year to a high of -0.2% in November. The report stated that “significant increases in the cost of labor made it harder for hospitals to see positive margins in 2022.” Year-over-year numbers highlight the financial woes even further. Nationally, hospital profitability was down 32% and margins were down 27% compared to 2021. However, Kaufman found that the average net... Read More »
OhioHealth Closes 2 Mergers in December
One of Ohio’s major health systems has further expanded its reach in the state. In December, OhioHealth finalized negotiations with Van Wert Health and Guernsey Health Systems and added both systems under its banner. The deals add two hospitals, more than 100 beds and a collection of physician groups, outpatient clinics and home health operations to OhioHealth’s network. OhioHealth now owns and operates 14 hospitals in total. Van Wert Health is anchored by the 34-bed Van Wert Hospital. It also has four outpatient centers and physician practices. The organization generated $59.6 million in revenue and nearly $13 million in EBITDA in 2021. Guernsey Health Systems is a health system... Read More »
Montecito Medical Acquires Indianapolis, Indiana MOB
Montecito Medical Real Estate, a leading acquirer of medical office properties nationwide, has completed its acquisition of a 34,369 square-foot medical office building (MOB) in Indianapolis, Indiana. Terms of the deal were not disclosed. The MOB is tenanted by the Midwest Center for Joint Replacement, which uses the property for orthopedic clinical care, orthopedic surgeries and physical therapy. Midwest Center for Joint Replacement is the dominant orthopedic group within a 10-mile radius of the property’s location on the southwest side of Indianapolis. The group maintains an additional location in Bloomington, Indiana. Montecito Medical Real Estate specializes in healthcare-related real... Read More »
MB2 Dental Solutions Acquires 5 Dental Practices
MB2 Dental Solutions announced on January 2 that it acquired five dental practices, marking the first dental transactions of the year. Financial terms were not disclosed. MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners since February 2021, partners with dentists and specialists. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic dentistry and oral surgery. Rolling Hills Family Dentistry is a dental practice serving Poway, California, a city in the San Diego region. The practice is run by one physician. Graff Orthodontics is a dental practice founded in Farmington, New Mexico. It provides orthodontic... Read More »Schedule a demo
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