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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 »
Stonebridge Healthcare Offers $675 Million for 3 Tower Health Hospitals
Tower Health is just not having a good year. According to the Philadelphia Business Journal, Tower Health, which lost $65.6 million in fiscal 2022 and is carrying approximately $1 billion in debt, has been attempting to shed some of its assets as part of its ongoing turnaround efforts. It’s had to sell three hospitals this year already, and now it might divest another three. Stonebridge Healthcare, a hospital turnaround firm, has offered $675 million to purchase Reading Hospital, Phoenixville Hospital and Pottstown Hospital, all in Pennsylvania and owned by Tower Health. The deal is set to expire on December 9th, 2022, so we’ll have to wait until then for a final announcement. Under... Read More »
Cushman & Wakefield Brokers Sale of Escondido, California MOB
Cushman & Wakefield brokered the sale of a 26,945-square-foot freestanding medical and office building in Escondido, California. The property sold for $8.1 million, approximately $301 per square foot. The buyer was The Elizabeth Hospice, which for more than 40 years has been providing medical care and grief support to patients and families dealing with the challenges associated with an advanced, life-limiting illness. The Elizabeth Hospice will initially occupy 80% of the building with plans to occupy the entire building as the existing tenants vacate. A team from Cushman & Wakefield represented the seller, a private local investor, in the transaction. According to the LevinPro HC... Read More »
ARC Health Acquires Lotus Consulting
ARC Health, a Thurston Group portfolio company, announced its acquisition of Lotus Consulting, PLLC on November 30. Lotus Consulting is a comprehensive mental health therapy practice in Ann Arbor, Michigan. Founded and led by Ilona Phillips, LMSW, the practice specializes in mindfulness-based wellness and mental health services ranging from mental health assessments for individuals to training, education and healing methodologies for couples and groups. ARC Health is a mental health specialty services organization supporting psychiatry, psychology and therapy providers in multiple locations throughout the United States. ARC was formed in 2021 in partnership with outpatient mental... Read More »
Sage Dental Completes Third Transaction of The Year
Boca Raton, Florida-based Sage Dental announced it acquired two dental practices in Florida, marking Sage Dental’s third transaction of the year. Sage Dental, a portfolio company of Linden Capital Partners, is a leading dental service organization. Sage Dental provides comprehensive non-clinical business and administrative support services to more than 70 affiliated Sage Dental practices in Florida and Georgia. The two practices offer the latest conveniences of a modern dental practice, including teledentistry screening appointments, virtual check-ins, online scheduling, paperless billing and more. The practices are in Wesley Chapel and Tampa, Florida. The acquisition of these two... Read More »
Full-Life Technologies Purchases Focus-X Therapeutics for $245 Million
Full-Life Technologies announced on November 28 that it is acquiring Focus-X Therapeutics for $245 million. Founded in 2020, Focus-X created a proprietary engineering platform to develop peptide radioligands that precisely deliver alpha or beta emitters to break down cancer cell DNA. The company is based in Watchung, New Jersey. Shanghai-based Full-Life Technologies Limited is a fully integrated global radiotherapeutics company with operations in Europe and China. It was founded in 2021. The acquisition expands Full-Life’s pipeline, including two compounds nearing clinical trials, and a peptide-focused discovery platform leveraging its radio technology manufacturing and logistics... Read More »
Newport Healthcare Acquires PrairieCare
Newport Healthcare has acquired PrairieCare, a psychiatric health system offering services for all ages including free mental health screenings, clinic services, an inpatient psychiatric hospital, outpatient programs, partial hospitalization programs and residential services. PrairieCare is based in Minnesota with nine locations across the Twin Cities metro area, Mankato and Rochester. Nashville-based Newport Healthcare offers residential and outpatient treatment programs in 15 metro areas and 11 states. Terms of the deal were not disclosed. According to the LevinPro HC database, this was the 93rd Behavioral Health Care transaction of 2022. This compares with 110 Behavioral Health... Read More »
Boston Scientific Acquires Apollo Endosurgery
Boston Scientific Corp., a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices, announced on November 29 it acquired Apollo Endosurgery in a $615 million deal. Under terms of the deal, Boston Scientific will pay $10 per share to acquire Apollo Endosurgery. Boston Scientific expects to complete the deal in the first half of 2023 and the company expects the acquisition to be accretive to its earnings per share after 2023. Apollo Endosurgery is known for manufacturing medical devices used during endoluminal surgery procedures to close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss for patients suffering from... Read More »
U.S. Oral Surgery Management Adds New Dental Partner in the Southeast
U.S. Oral Surgery Management (USOSM), a portfolio company of Oak Hill Capital Partners, announced on November 29 its partnership with Oral & MaxilloFacial Surgery. According to the LevinPro HC database, this marks the 187th dental practice transaction of 2022. This also marks USOSM’s ninth dental partnership of the year. As its partner, USOSM will provide Oral & MaxilloFacial Surgery with business support services. Oral & MaxilloFacial Surgery will retain complete clinical autonomy, continuing to focus on patient care. Terms of the deal were not disclosed. Oral & MaxilloFacial Surgery is a private oral and maxillofacial surgery (OMS) practice with one location in Murray,... Read More »Schedule a demo
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