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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 »
Pinnacle Treatment Centers Acquires MBA Wellness Center
Pinnacle Treatment Centers, a portfolio company of private equity firm Linden Capital Partners, announced on December 8 its acquisition of MBA Wellness Center in Stockbridge, Georgia. According to the LevinPro HC database, this marks the 96th Behavioral Health Care transaction of 2022 and the 40th in the substance use disorder speciality. This is Pinnacle’s second acquisition in six months. Pinnacle entered the Georgia market in August 2020 when it purchased HealthQwest, an opioid addiction treatment provider with five locations. MBA Wellness Center will take the HealthQwest name, and together, the six centers will help more than 1,300 patients every day overcome opioid use disorder. Terms... Read More »
BayMark Health Services Acquires Addiction Treatment Provider Nashville Recovery
BayMark Health Services announced its acquisition of Nashville Recovery, an office-based opioid treatment (OBOT) program approximately 10 miles south of Downtown Nashville. This acquisition expands BayMark’s OBOT program total to 70 locations across 19 states. Terms of the deal were not disclosed. Established in 2017, Nashville Recovery provides OBOT services to individuals living with an opioid use disorder, via in-office and telemedicine visits. BayMark Health Services, a portfolio company of private equity firm Webster Equity Partners, provides medication-assisted treatment for opiate addiction and dependency to more than 73,000 patients across more than 400 treatment facilities... Read More »
Hillhouse Acquires CRO George Clinical
George Clinical announced on December 9 that it has entered into a sale agreement with Hillhouse, a Beijing-based global investment firm with deep experience in partnering with and supporting healthcare businesses. The George Institute will hold a minority stake in George Clinical following the acquisition and will maintain a collaboration in applicable scientific areas such as in the Global Kidney Patients Trials Network. BofA Securities acted as lead financial advisor on the transaction and Lazard Australia acted as co-advisor. Herbert Smith Freehills LLP acted as legal advisor on the transaction. Financial terms of the transaction were not disclosed. George Clinical is a global clinical... Read More »
Ochsner Health Acquires Diamondhead Urgent Care
Ochsner Health announced it has acquired Diamondhead Urgent Care, an urgent care center in Diamondhead, Mississippi, giving the hospital system a bigger footprint in Hancock County. The existing employees and physicians will continue to provide healthcare at this facility, while additional staff will be added as the patient load increases. Terms of the deal were not disclosed. Ochsner Health is an integrated healthcare system that has more than 34,000 employees and more than 4,500 employed and affiliated physicians in more than 90 medical specialties and subspecialties. It operates 40 hospitals and more than 300 health and urgent care centers across Louisiana, Mississippi and the Gulf... Read More »
Reliable Medical Acquires DME Provider Orbit Medical
Reliable Medical, a portfolio company of Seven Hills Capital since November 2018, announced its acquisition of Orbit Medical. As part of the transaction, Seven Hills Capital and its management have re-invested into Reliable Medical to support the Orbit partnership and fund future growth through new locations and partnerships. Orbit Medical is one of the Midwest’s largest durable medical equipment (DME) providers serving more than 30,000 patients annually, operating in Illinois, Michigan and Wisconsin. The company specializes in power mobility, complex rehab, home respiratory, orthotic devices, general DME and pain management supplies. Reliable Medical provides complex rehab technology,... Read More »
Davis Acquires Woodbury, Minnesota MOB For $18 Million
Davis acquired Woodlake Medical Building, a two-story, 42,467-square-foot medical office building (MOB) in Woodbury, Minnesota, for $18 million, or approximately $424 per square foot. Bridgewater Bank provided the financing. Located on 4.73 acres, the property boasts an outpatient surgery center and recently upgraded, digitally controlled VAV and HVAC systems. Davis, founded in 1986, is a national healthcare real estate firm that offers expertise in healthcare real estate development, property management, brokerage, investment and consulting services to health systems, hospitals, individual medical groups, specialty practices and other healthcare organizations. The company has developed 35... Read More »Schedule a demo
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