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U.S. Oral Surgery Management Closes $125 Million Credit Expansion
U.S. Oral Surgery Management (USOSM) announced on December 6 that it closed a new round of funding, a $125 million credit expansion that will position USOSM for growth and expansion in 2023. A portfolio company of Oak Hill Capital Partners, USOSM is a management services organization (MSO) focused on oral and maxillofacial surgeons (OMS) founded in 2017. USOSM has partnered with more than 170 OMS practice locations across 24 states. According to data captured in LevinPro HC database, USOSM has completed nine acquisitions in 2022. The acquired practices are spread across Kentucky, Tennessee, Kansas, Texas, Illinois, Michigan, California, Florida, Indian and Virginia. And, according to... Read More »
Cardiovascular Associates of America Expands Into New State
Cardiovascular Associates of America (CVAUSA) announced on December 7 that it acquired Southwest Cardiovascular Associates, representing the 562nd Physician Medical Groups transaction of the year. CVAUSA is a physician management services organization headquartered in Celebration, Florida. Through CVAUSA’s physician-centered practice management model, physicians drive clinical care and practice culture, while benefiting from the business expertise and shared resources available through CVAUSA. Southwest Cardiovascular Associates is a preeminent cardiovascular practice in Arizona that is also active in clinical trials, including the upcoming Integra-D study assessing a device that combines... Read More »
KKR Acquires Clinisupplies from Healthium
KKR, a leading global investment firm, announced its agreement to acquire Clinisupplies from Healthium MedTech. Clinisupplies’ management team will continue to hold a minority position in the company. KKR is investing in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR was advised by Houlihan Lokey, Gibson, Dunn & Crutcher LLP, PWC and BCG. The financial terms of the acquisition were not disclosed. Clinisupplies is a UK-based manufacturer and distributor of continence care products, including urinary collecting devices and catheters. Clinisupplies’ products are supplied to hospitals and... Read More »
Carenet Health Acquires Stericycle Communication Solutions
Carenet Health has acquired Stericycle Communication Solutions. The combined entity provides 1 in 3 Americans with access to Carenet offerings and works with 14 of the top 20 health systems in the United States, as well as 1,000 other healthcare companies. Terms of the deal were not disclosed. Carenet provides healthcare engagement services and 24/7 access to medical care by arranging transportation, organizing home health support and equipment and explaining the benefits of exams and immunizations. Carenet is headquartered in San Antonio, Texas, with additional office locations in New Mexico, Maine and the Philippines. Stericycle Communication Solutions is a provider of patient engagement... Read More »
OrthoAlliance Expands Further Into Ohio With Purchase of Sixth Clinic
Cincinnati, Ohio-based OrthoAlliance announced on December 5 that it acquired Orthopedic Specialists & Sports Medicine. OrthoAlliance, a physician-led management services organization for orthopedic groups, was formed in 2019 in partnership with Beacon Orthopaedics and Revelstoke Capital Partners, a Denver-based private equity firm. Beacon’s management team leads the MSO’s operations. OrthoAlliance’s partner practices feature more than 150 physicians across all orthopedic and sports medicine specialties. It has more than 2,000 employees. Founded in 1976, Orthopedic Specialists & Sports Medicine provides orthopedic care from one location in Granville, Ohio. The practice has... Read More »
Pacific Coast Commercial Brokers Sale of La Mesa, California MOB
Pacific Coast Commercial has negotiated the sale of a medical office building (MOB) in La Mesa, California. Magnolia Mar Properties sold the asset to Family Health Care Centers of San Diego for $8.4 million. According to the LevinPro HC database, this marks the 200th MOB acquisition of 2022 and the 18th announced in California year-to-date. The property features 25,916 square feet of medical office space. Current major tenants include County of San Diego and Penchecks. The price is $324 per square foot. Brian Crepeau and Ken Robak of Pacific Coast Commercial represented the seller, while Kelly Moriarty and Chris Ross of JLL represented the buyer in the deal. US Bank provided... Read More »
JP Recovery Services Merges With RCM Leader Meduit
Meduit, a portfolio company of NexPhase Capital, announced on December 5 that JP Recovery Services (JPRS) has joined the Meduit organization. According to the LevinPro HC database, this marks the 310th eHealth transaction of 2022 and the 65th in the revenue cycle management (RCM) subsector. Meduit is one of the nation’s leading RCM companies with decades of experience in the RCM arena, serving more than 1,000 hospitals and physician practices in 48 states. Founded in 1998, JPRS provides accounts receivables management, billing and extended business office (pre-collect) services to more than 70 hospitals, physicians groups and private practices across the United States. The JPRS... Read More »
PE-Backed CCRM Acquires Second Fertility Clinic of 2022
CCRM Fertility, a portfolio company of Unified Women’s Healthcare, announced its acquisition of RADfertility on December 6. This transaction marks CCRM Fertility’s second transaction of the year, where it previously acquired The Institute for Reproductive Medicine & Science in East Windsor, New Jersey. CCRM Fertility has a network of physicians, embryologists and geneticists who deliver advanced fertility treatments, including in vitro fertilization (IVF), fertility assessment, fertility preservation, genetic testing, third-party reproduction and egg donation. CCRM Fertility has 34 locations across North America, serving patients in 12 major metropolitan areas. CCRM Fertility was... Read More »
PE Firms Must Stomach Higher Acquisition Multiples in 2023
Kevin Moyer didn’t hesitate when asked if there would be a reduction in 2023 regarding healthcare M&A activity due to rising interest rates. “Absolutely,” he said. “The cost of capital is high and it will only get higher as the Fed continues to raise rates. There’s going to be an overall downfall.” Moyer, practice lead, transaction strategy & transformation at Sax Capital Advisors, whose responsibilities include handling healthcare M&A activity, provided the forecast at the December 1st Healthcare Disruptors conference at Sax’s headquarters in Parsippany, New Jersey. Such a development would be a reversal of recent activity. According to data captured in the LevinPro HC... Read More »Schedule a demo
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