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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 »
Home Health Valuations Steady Despite Crushing Labor Costs: An Interview With Al Veach & Jason Harrison of Agenda Health
Deal activity in the Home Health & Hospice (HH&H) space has slowed dramatically over the course of the year. The break-neck pace set during the first quarter of 2022, when 32 HH&H transactions were announced, didn’t last. During the fourth quarter, HH&H deals are barely trickling in. There have been just 15 deals announced during this quarter as of December 5th, a 62% decrease from Q4’s total in the previous year, when there were 39 deals announced. We will see where we end up on January 1, but a decline seems likely. Despite the slow market, M&A advisors are optimistic. We spoke with Al Veach and Jason Harrison of Agenda Health about their outlook on the home health... Read More »
Bionano Genomics Acquires Purigen Biosystems for up to $64 Million
Bionano Genomics has acquired Purigen Biosystems in a deal valued at up to $64 million. This includes $32 million in cash paid at closing subject to adjustment for, among other things, cash, unpaid indebtedness, unpaid transaction expenses and net working capital relative to a specified target. The remainder of the consideration is contingent on the achievement of certain milestones. The deal is expected to close on or before December 8, 2022. Pleasanton, California-based Purigen Biosystems focuses on redefining nucleic acid sample preparation with a platform based on the isotachophoresis technology. Bionano Genomics, which is located in San Diego, provides genome analysis solutions that... Read More »
Generational Equity Advises Inteli-Care in its Sale to 24 Hour Home Care
Generational Equity, a leading M&A advisor for privately held businesses, announce the sale of its client Inteli-Care LLC to 24 Hour Home Care. The transaction closed on November 16, 2022. According to the LevinPro HC database, this marks the 100th Home Health & Hospice transaction announced during 2022. Inteli-Care was wholly owned by CEO Onesimo “Mo” Vigil and Executive Director Rachel Vigil. Post-closing, both Mo and Rachel will be partners of the acquirer and continue in their respective roles and positions. Founded in 2003, Inteli-Care is a non-medical home health care provider based out of Albuquerque, New Mexico. Inteli-Care’s caregivers and personal care... Read More »
Ascend Capital Partners and CareAbout Invest in Medical Specialists of the Palm Beaches
Ascend Capital Partners and CareAbout acquired Medical Specialists of the Palm Beaches, Inc. (MSPB) on December 5. MSPB has more than 85 Providers, across more than 25 offices in Palm Beach County and Broward County, Florida. MSPB offers primary care, cardiology, neurology, hematology/oncology, concierge medicine and laboratory services. Ascend Capital Partners, founded in 2019, is a growth-oriented, healthcare-focused private equity partnership whose mission is to build thriving communities by investing in companies and entrepreneurs who are improving healthcare access, affordability and quality for vulnerable and underserved populations. CareAbout is a management company and... Read More »
One GI Acquires The Colon, Stomach, and Liver Center & Loudoun Endoscopy Group
Germantown, Tennessee-based One GI announced on November 30 that it purchased The Colon, Stomach, and Liver Center, LLC & Loudoun Endoscopy Group, LLC. This marks One GI’s fifth acquisition of the year. Goodwin Procter LLP served as exclusive legal counsel to One GI, and Alvarez & Marsal’s Global Transaction Advisory Group, LLC provided key diligence. Cascadia Capital served as the financial advisor to CSL, and K&L Gates LLP served as legal counsel. The financial terms of the acquisition were not disclosed. One GI is a gastroenterology management services organization formed by Webster Equity Partners in April 2020. One GI partners with GI physicians to help them manage,... Read More »
Arlington Capital Partners’s Everest Clinical Research Acquires Brightech International
Everest Clinical Research, an Arlington Capital Partners portfolio company, announced on December 1 its acquisition of Brightech International. Brightech will continue to be led by Dr. Tai Xie, the company’s CEO and founder, and the existing management team. Terms of the deal were not disclosed. Founded in 2002, Brightech International is a contract research organization (CRO) that specializes in complex, value-add biostatistics, programming and clinical data management services. Like Everest, Brightech has built a reputation as a critical partner for some of the world’s largest pharmaceutical and biotech companies. In addition to its New Jersey headquarters, Brightech has an expanded... Read More »
U.S. Physical Therapy Acquires 13-Clinic Physical Therapy Practice
U.S. Physical Therapy, Inc. (USPT), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, announced its acquisition of a thirteen-clinic physical therapy practice. USPH acquired 80% of the equity interests of the physical therapy practice with the practice’s owners retaining 20%. The purchase price for the 80% equity interest was approximately $25 million. The business being acquired currently generates more than $12 million in annualized revenue and approximately 120,000 annualized patient visits. Founded in 1990, USPT operates 642 outpatient physical therapy clinics across 40 states. The company also manages 40 physical therapy... Read More »Schedule a demo
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