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New Investors Push Into Behavioral Health Market

New Investors Push Into Behavioral Health Market

For the past several years private equity firms and their portfolio companies have driven the behavioral healthcare M&A market, but a new mix of strategic investors have entered the field, from REITs to managed care providers and health systems. Although activity is slower than compared to 2021, the behavioral health market is still experiencing significant tailwinds from growing demand for mental health services and significant fragmentation in the industry. Deal volume for 2022 is sitting at just under 100 deals, but we expect to cross the 100-mark threshold before the end of the year. In 2021, investors and dealmakers announced 125 transactions in the Behavioral Health Care sector. ... Read More »
Prism Vision Group Acquires Lakeview Surgery Center

Prism Vision Group Acquires Lakeview Surgery Center

Prism Vision Group has acquired Lakeview Surgery Center. This marks Prism’s sixth ambulatory surgery center (ASC) and the second in the Washington D.C., Maryland and Virginia market. Terms of the deal were not disclosed. Lakeview Surgery Center in Bowie, Maryland, is a 9,900-square-foot facility that has two operating suites and exclusively provides ophthalmic surgery five days per week. Prism Vision Group (formerly known as NJ/Retina), a portfolio company of private equity firm Quad-C Management, is a physician-led ophthalmology administrative services care provider. Launched in July 2019, Prism has 870 locations, more than 150 providers and more than 1,300 employees throughout New... Read More »
Goldman Sachs Asset Management Acquires Norgine Europe B.V.

Goldman Sachs Asset Management Acquires Norgine Europe B.V.

The private equity business within Goldman Sachs Asset Management has acquired Norgine Europe B.V. The deal is a milestone in Norgine’s history, following more than 110 years of ownership by the Stein family, which will continue to own a significant stake in the company. Terms of the deal were not disclosed. Norgine is a European specialty pharmaceutical company that has strived to deliver innovative medicines to patients for more than a century. Its European experience, fully integrated infrastructure and partnership approach allow it to apply solutions to bring patients medicines that they may not otherwise be able to access. Norgine helped 24 million patients around the world in... Read More »
VillageMD Acquires Conroe-Willis Family Medicine

VillageMD Acquires Conroe-Willis Family Medicine

VillageMD announced on December 15 that it acquired the four-physician practice of Conroe-Willis Family Medicine.  Conroe-Willis Family Medicine was established in 2014 and provides full-service, quality care and preventative care for all patients. The practice has one location in Conroe, Texas and one in Willis, Texas. VillageMD, a subsidiary of Walgreens, 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 responsible for more... Read More »
The Stepping Stones Group Acquires Building Blocks Behavior Consultants

The Stepping Stones Group Acquires Building Blocks Behavior Consultants

The Stepping Stones Group, a portfolio company of Five Arrows Capital Partners, announced on December 15 its acquisition of Building Blocks Behavior Consultants, Inc. Building Blocks founder Mila Zea will remain with the company and assume the role of Regional Clinical Manager. Terms of the deal were not disclosed. Building Blocks Behavior Consultants is a provider of center-based Applied Behavioral Analysis therapy for children who carry a diagnosis on the Autism spectrum. The Stepping Stones Group 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 annually across 42 states.... Read More »
Montecito Medical Acquires 4-Building Medical Office Property

Montecito Medical Acquires 4-Building Medical Office Property

Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a four-building portfolio in eastern Indiana and western Ohio. All four buildings, which total nearly 32,000 square feet, are tenanted by Whitewater Eye Centers. The properties include the group’s headquarters in Richmond, Indiana. The acquisition expands Montecito’s footprint in Indiana and Ohio. Terms of the deal were not disclosed. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. According to the LevinPro HC... Read More »
Charlesbank Capital Partners’ Portfolio Company Acquires Arkansas Dental Practice

Charlesbank Capital Partners’ Portfolio Company Acquires Arkansas Dental Practice

Carrollton, Texas-based MB2 Dental Solutions announced its acquisition of Borengasser Family Dental, marking the 197th dental transaction of the year. 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. Borengasser Family Dental is run by Dr. Wes Borengasser. Borengasser Family Dental specializes in a wide range of dental services, including Invisalign and whitening treatments, as well as TMJ therapy. The practice has one location in Fort Smith, Arkansas. This... Read More »
CARE Fertility Goes International

CARE Fertility Goes International

U.K.-based CARE Fertility has entered the U.S. market with the acquisition of  Reach Fertility, or The Reproductive Endocrinology Associates of Charlotte. Based in Charlotte, North Carolina, Reach Fertility is a leader in treating patients with fertility issues. The practice has 12 physicians.  CARE Fertility is one of the world’s largest independent providers of fertility treatments with 28 practices across the UK, Ireland and Spain. CARE Fertility was acquired by Nordic Capital in March 2022 for an undisclosed amount.  The demand for fertility services has been high this year, which has pushed M&A volume to 29 deals as of mid-December. We explored the fertility market and the... Read More »
EverService Acquires Mid-State Communications

EverService Acquires Mid-State Communications

EverService Holdings, LLC announced that it closed its acquisition of Manchester, Tennessee-based Mid-State Communications on December 14.  Mid-State Communications provides medical answering, emergency dispatch, employee reporting, virtual receptionist, appointment scheduling and patient intake services to increase client revenue and improve patient experience. EverService focuses on end-to-end solutions specialized for the legal, medical, home services, retail and technology industries integrated with clients’ customer relationship management, electronic health records and operational systems. The company is based in Phoenix, Arizona.  The acquisition of Mid-State... Read More »
Occupancy Rates, Job Growth Provide Strength for Healthcare Real Estate

Occupancy Rates, Job Growth Provide Strength for Healthcare Real Estate

Steve Bolen provided encouraging news for attendees at the December 13 New York Healthcare Summit in New York City’s financial district. “For 2022, health care was among the top targeted sectors for expansion within virtually every one of our capital sources,” said Bolen, the U.S. head of healthcare real estate at LaSalle Investment Management. “For 2023, healthcare real estate is among the top targeted sectors for expansion for our clients.” Bolen’s confidence hasn’t been shaken by speculation that next year could bring an economic downturn for the United States.  “There’s a growing chorus of economists suggesting that a recession could be a reality in 2023,” Bolen said. “That is a... Read More »