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PE-Backed Tristone Healthcare Acquires Next Steps
Tristone Healthcare, a portfolio company of Manchester-based private equity firm Tristone Capital, announced on December 13 its acquisition of K Bond Healthcare Ltd, doing business as Next Steps. Duke Royalty Ltd supported the transaction with a follow-on investment of £3.2 million (approximately $3.968 million) into existing royalty partner Tristone Healthcare to fund its acquisition. Duke Royalty has now invested £17.6 million (approximately $21.824 million) into Tristone Healthcare. Moore & Smalley acted as finance and tax advisor and St. Johns Legal acted as legal advisor for Tristone. Redwoods Dowling Kerr acted as broker, DHD & Co acted as accountants and Ison Harrison acted... Read More »
Irwin Naturals Acquires Florida Mind Health Center
Irwin Naturals Inc. (CSE: IWIN) announced it acquired Florida Mind Health Center for an unspecified amount. Clare Clinic, Inc., which does business as Florida Mind Health Center, is a ketamine clinic that has locations in Gainesville, Tallahassee and Panama City, Florida. Founded in 1994, Irwin Naturals Inc. is a nutraceuticals (natural products and supplements) company with a portfolio of products available in more than 100,000 retail locations across North America. Its national chain of psychedelic mental health clinics is called Irwin Naturals Emergence. It generated more than $100 million in revenue in 2021. This transaction represents Irwin Naturals eighth acquisition in the year.... Read More »
Tandem Diabetes Care Acquires AMF Medical
Tandem Diabetes Care, Inc., a global insulin delivery and diabetes technology company, announced its acquisition of insulin patch pump developer AMF Medical SA. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in January 2023. Baker & McKenzie served as legal advisor to Tandem Diabetes Care. SVB Securities LLC served as exclusive financial advisor and Homburger AG served as legal advisor to AMF Medical. Terms of the deal were not disclosed. Founded in 2006, Tandem Diabetes manufactures the t:slim X2 insulin pump with Control IQ technology. AMF Medical SA is the privately held Swiss developer of the Sigi™ Patch Pump. The Sigi Patch... Read More »
Care Fertility Acquires Reach Fertility
CARE Fertility, based in London, England, announced on December 13 that it acquired REACH Fertility. The Reproductive Endocrinology Associates of Charlotte (REACH Fertility) has been a leader in treating patients with fertility issues in Charlotte, North Carolina since 1988. It is run by 12 fertility physicians. CARE Fertility is one of the largest independent providers of fertility treatments in the world with 28 practices across the United Kingdom, Ireland and Spain. Nordic Capital purchased CARE Fertility in March 2022. This acquisition is CARE’s first partnership in the United States and its first under Nordic Capital’s ownership. The financial terms of the transaction were... Read More »
PE-Backed Pacesetter Health Purchases Nebraska Podiatry Clinic
St. Louis, Missouri-based Pacesetter Health announced its acquisition of Foot & Ankle Specialists. Nebraska Lower Extremity Surgery Group, LLC, which does business as Foot & Ankle Specialists, is a podiatry group that’s run by eight doctors. It has two locations in Omaha, Nebraska and one location in Bellevue, Nebraska. Backed by Compass Group Equity Partners, Pacesetter Health is a practice management group focused on partnering with best-in-class lower extremity care clinics throughout the country. This acquisition marks Pacesetter Health’s third transaction of the year and first partnership in Nebraska. The financial terms of the transaction were not disclosed.... Read More »
Physician Insights: Health Systems, Private Equity, & the M&A Market
For how often we talk about private equity or health systems acquiring Physician Medical Groups (PMG), we wanted to get physician’s perspectives on the acquisition process. And what the transaction means for the doctors and their patients. As of December 9, there have been 564 Physician Medical Groups (PMG) transactions throughout the entire year. Private equity represents the largest type of buyer in the PMG space, accounting for 70% of the buyers. Firms such as Charlesbank Capital Partners (33 deals), Quad-C Management (16 deals) and Harvest Partners (11 deals) have been incredibly active this year. In addition to PE groups making a splash in the PMG industry, other PMG groups represent... Read More »
Lincoln Advisors Acquires MOB in Atlanta’s Buckhead Neighborhood
Lincoln Advisors, an affiliate of international real estate firm Lincoln Property Company, has acquired the Northwest Medical Center, a four-story, 149,202-square-foot medical office building (MOB) in the Buckhead neighborhood of Atlanta. Lincoln Advisors paid $71.8 million for the Class A asset. The property is 81% leased to 25 tenants with a weighted average remaining lease term of approximately 9.4 years. The sale price is approximately $483 per square foot. A joint venture between Harrison Street and HealthAmerica Realty Group sold the property. CBRE Group, Inc. represented the sellers and procured the buyer. According to the LevinPro HC database this marks the 204th MOB acquisition of... Read More »
Amgen Acquires Horizon Therapeutics in Largest Healthcare Deal of 2022
Amgen Inc. announced on December 12 an agreement to acquire Horizon Therapeutics plc in the largest healthcare transaction of the year. Amgen will pay $116.50 for each Horizon share, totaling approximately $27.8 billion. Horizon was advised by Morgan Stanley and JPMorgan Chase & Co. Its legal advisers are Cooley LLP and Matheson LLP. Amgen’s lead financial adviser is PJT Partners and its financial adviser is Citigroup Inc. Its legal advisers are Sullivan Cromwell LLP and William Fry LLP. Horizon Therapeutics is an Irish biopharmaceutical company focused on developing medicines to treat rare autoimmune and severe inflammatory diseases. The company’s products are sold mostly... Read More »
Boston Scientific Acquires Majority Stake in Acotec Scientific for More Than $500 Million
Boston Scientific has entered into an agreement to acquire a majority stake in Acotec Scientific Holdings Limited. The proposed price is HK$20 per share, which represents a total upfront cash payment consideration of approximately $523 million USD for the 65% stake. Boston Scientific expects the impact to adjusted earnings per share to be immaterial in 2023 and the impact to GAAP earnings per share to be less accretive, or dilutive, as the case may be, due to amortization expense and acquisition-related net charges. The completion of the transaction, which is anticipated in the first half of 2023, is subject to acceptance and approval by Acotec shareholders and other conditions set forth... Read More »Schedule a demo
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