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Renibus Therapeutics Raises $33 Million to Advance Cardiorenal Portfolio
Renibus Therapeutics, Inc., a clinical-stage biotechnology company developing products for the treatment of cardiorenal diseases, obtained $33 million in bridge financing, including $23 million in a Simple Agreement for Future Equity offering, and $10 million pursuant to the first tranche of a $30 million term loan with Oxford Finance LLC. Under terms of the credit facility with Oxford, the funds are available in three tranches of $10 million for a total of up to $30 million, subject to certain conditions. The term loan matures in October 2027 and includes a 24-month, interest-only period, which can be extended to 36 months under certain conditions. The first tranche of $10 million closed... Read More »
Rural Healthcare Group acquires 4 physician groups from HCA
Nashville-based Rural Healthcare Group (RHG), backed by private equity firm Kinderhook Industries, announced on November 16 it purchased four middle-Tennessee primary care physician practices from HCA Healthcare. The acquisition brings the total number of practices owned by RHG to eight. Terms of the deal were not disclosed, but RHG Founder and CEO Benson Sloan said RHG can pay as much as seven figures per clinic. RHG is a multi-site primary care clinic operator focused on expanding primary care access in medically underserved areas and rural communities. RHG was launched by Kinderhook Industries in May 2022. According to the LevinPro HC database, this marks the 535th Physician Medical... Read More »
Sanford Health and Fairview Health Look to Merge and Form a $14 Billion Health System
Maybe the third time’s a charm? After striking out on two potential mergers over the past three years, Sanford Health has signed a letter of intent with Fairview Health Services to combine and create a new health system. The deal is still in the negotiation phase and needs a green light from regulators, but the two organizations expect the deal to close in 2023. If Sanford Health and Fairview cross the finish line, the merger will create a wide-reaching health system in the midwest with a combined $14 billion in annual revenue. Sanford Health has 47 medical centers and more than 200 Good Samaritan Society senior care locations. With the addition of Fairview, it will gain 11 hospitals,... Read More »
OptiGroup Acquires Pamark Business Oy
OptiGroup has acquired Pamark Business Oy in a transaction involving companies from Scandinavia. Vantaa, Finland-based Pamark Business Oy is a distributor of cleaning and facility supplies, medical consumables and medical devices to the private and public sectors in Finland. Molndal, Sweden-based OptiGroup is a distribution group supporting more than 105,000 customers primarily in the cleaning and facility management, hotel and restaurant, healthcare and manufacturing sectors. Financial terms of the deal were not disclosed. According to the LevinPro HC database, this was the 26th healthcare product distributor acquisition of 2022. This compares with 11 healthcare product distributor deals... Read More »
TeamHealth Acquires Acute Care Transitions
TeamHealth, a portfolio company of The Blackstone Group, announced its expansion in the Dallas-Fort Worth market with the acquisition of Acute Care Transitions, LLP, (ACT) an emergency medicine and advanced care at-home telehealth provider. TeamHealth provides outsourced medical care to more than 2,700 acute and post-acute facilities and physician groups nationwide. It has more than 15,000 affiliated healthcare professionals and advanced practice clinicians. TeamHealth was acquired by The Blackstone Group in October 2016 for $4.1 billion. According to the LevinPro HC database, this marks the 304th eHealth deal and the 50th telehealth transaction announced year-to-date. This is a slight... Read More »
PCF Insurance Services Enters Wisconsin Market With Milz Health Group Acquisition
PCF Insurance Services (PCF), a top 20 U.S. insurance brokerage firm, has acquired Milwaukee-based Milz Health Group, marking its entrance in the Wisconsin market. Milz Health Group is a full-service health insurance agency providing coverage to Wisconsin Medicare-eligible individuals and coverage through the Affordable Care Act. PCF Insurance Services is a full-service consultant and insurance brokerage firm offering commercial, life and health, employee benefits and workers’ compensation solutions. It employs more than 2,000 people across the country. According to the LevinPro HC database, this marks the 40th Managed Care transaction year-to-date. This compares with 45 Managed Care... Read More »
Retina Consultants of America Acquires Florida Retina Institute
Retina Consultants of America has acquired Orlando-based Florida Retina Institute. Florida Retina Institute has 13 board-certified physicians and 19 locations throughout central and north Florida as well as southeast Georgia. Retina Consultants of America (RCA) is a physician management services organization formed by private equity firm Webster Equity Partners in 2020. Headquartered in Southlake, Texas, RCA has more than 215 physicians across more than 300 locations in 19 states, including California, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Minnesota, Mississippi, Missouri, New York, North Carolina, South Carolina, South Dakota, Tennessee, Texas, Utah and... Read More »
ActivePro Rehab Partners Acquires 4 Oaks Physical Therapy
ActivePro Rehab Partners, a physical and occupational rehabilitation care development firm owned by The Beekman Group, announced an expansion of the company’s portfolio into Maryland with the acquisition of 4 Oaks Physical Therapy, a rehabilitative therapy provider with six locations across Maryland. According to the LevinPro HC database, this marks the 76th Rehabilitation transaction of 2022. With the acquisition, 4 Oaks Physical Therapy will grow their physical presence through a significant expansion to serve additional Maryland communities. Terms of the deal were not disclosed. This marks the second acquisition by ActivePro Rehab Partners during November 2022 following the... Read More »
OrthoAlliance Acquires Central Indiana Orthopedics
OrthoAlliance, backed by Beacon Orthopaedics and Revelstoke Capital Partners, announced on November 15 that it acquired Central Indiana Orthopedics. The transaction represents OrthoAlliance’s fifth acquisition of the year. Founded in 1950, Central Indiana Orthopedics is an independent orthopedic practice that delivers care to patients with bone, joint and muscle injuries and conditions. The practice has locations in Anderson, Elwood, Fishers, Marion, Muncie and Winchester, Indiana, and is run by 26 doctors. OrthoAlliance, a physician-led management services organization (MSO) for orthopedic groups, was formed in 2019 in partnership with Beacon Orthopaedics and Revelstoke Capital... Read More »Schedule a demo
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