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MB2 Dental Solutions Purchases Dental Practices
MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners since February 2021, announced that it purchased Cornerstone Dental Health and Covaney & Covaney DDS. Cornerstone Dental Health was founded in 2010 and serves Quincy, Illinois. Covaney & Covaney DDS has been providing dental care to patients in Newport News, Virginia since 2000. It has one location in Newport News, Virginia. MB2 Dental Solutions partners with dentists and specialists. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic dentistry and oral surgery. These acquisitions mark MB2 Dental’s 39th and 40th acquisitions of 2022. Across... Read More »
PE-Backed One Oncology Acquires Five Oncology Practices
OneOncology, a network of independent oncologists, announced on December 20 that it purchased five oncology practices. The New York Cancer & Blood Specialists has a team of 90 physicians across more than 45 locations, with 25 of them joining the OneOncology team. Los Angeles Cancer Network provides oncology services to the Los Angeles MSA and is run by four doctors. Pennsylvania Cancer Specialists & Research Institute has four locations in Pennsylvania. The practice is run by four physicians. With seven locations in Louisiana, Mary Bird Perkins Cancer Center is run by two providers and is based in Baton Rouge, Louisiana. Tennessee Oncology has one location in Nashville,... Read More »
Olympus Corporation Acquires Odin Vision
Olympus Corporation announced its agreement to acquire cloud-based AI endoscopy technology developer Odin Vision. The agreement totals up to $79 million in upfront and milestone-based payments. The acquisition constitutes a strategic component of Olympus’ broader aim to transform clinical and procedural workflows. Terms of the deal were not disclosed. London-based Odin Vision develops a portfolio of commercially available computer-aided detection/diagnostic solutions. It also holds an innovation pipeline of cloud-enabled applications. Olympus uses innovative capabilities in medical technology, therapeutic intervention and precision manufacturing to help healthcare professionals deliver... Read More »
Anchor Health Properties Acquires Clackamas, Oregon MOB
Anchor Health Properties announced its acquisition of a 19,916-square-foot medical office building (MOB) in Clackamas, Oregon, through its Chestnut Healthcare Fund II, a discretionary equity investment vehicle co-managed with Chestnut Funds. Synovus Bank provided debt financing for the asset that was sold by Providence Health. Terms of the deal were not disclosed. Completed in 2009, the building is part of a two-building campus totaling 55,000 square feet. The fully leased building is anchored by Clackamas Radiation Oncology Center, a joint venture between Providence Health and The Oregon Clinic division of Radiation Oncology. The tenant roster also includes the Cancer Institute... Read More »
Kite Acquires Tmunity Therapeutics
Kite announced on December 20 its acquisition of Tmunity Therapeutics. Kite will acquire all outstanding shares of Tmunity other than those already owned by Kite. The transaction is expected to close in the first quarter of 2023. After closing, Tmunity’s employees will join Kite. The financial terms of the agreement were not disclosed. Tmunity is a private, clinical-stage biotechnology company focused on transforming the future of CAR-T therapies by developing the next generation of engineered T-cell therapies, innovative manufacturing processes and technologies. Kite, a clinical-stage biopharmaceutical company, is focused on developing engineered autologous T-cell therapy products. On a... Read More »
Care Advantage Buys Care Perfections Health Services
Care Advantage has acquired Care Perfections Health Services LLC, marking the 19th acquisition Care Advantage has completed since 2018. Financial terms of the deal were not disclosed. Care Perfections has locations in Manassas and Warrenton, Virginia. It is a nurse-owned company providing patients, clients and their families with care in their homes. Care Advantage has 38 locations throughout Virginia, Maryland, Delaware, Washington, D.C. and North Carolina. According to data captured from the LevinPro HC database, this marks the 107th Home Health & Hospice (HH&H) deal of 2022. This compares with 154 HH&H transactions reported between January 1, 2021, and December 20,... Read More »
Carl Marks Securities Advises on Sale of Cornerstone Treatment Facilities Network
Carl Marks Securities LLC, an affiliate of middle market investment bank Carl Marks Advisors, announced that it advised Cornerstone Treatment Facilities Network on its sale to New York-based Aurora Health Network. Carl Marks previous experience in addiction and behavioral healthcare services includes the financial restructuring of American Addiction Centers and positioning that company for long-term growth with a new board of directors. Financial terms of the private transaction were not disclosed. Founded in 1936, Cornerstone Treatment Facilities Network is an employee-owned addiction care provider with locations in Fresh Meadows and Rhinebeck, New York in the Hudson Valley. A... Read More »
KKR to Acquire Bushu Pharmaceuticals From BPEA EQT
KKR & Co. L.P. and Bushu Pharmaceuticals Ltd. announced on December 20 a definitive agreement under which KKR will acquire all shares in Bushu Pharmaceuticals from Asian private equity firm BPEA EQT. KKR is making its investment from one of its Asia-focused investment funds. The transaction is expected to be completed in Q1 2023, subject to customary approvals and closing conditions. Following the transaction’s completion, KKR aims to accelerate Bushu’s growth and further position it as a leading contract development and manufacturing organization (CDMO) for the pharmaceuticals market in Japan and worldwide. Terms of the deal were not disclosed. Bushu Pharmaceuticals Ltd. was... Read More »
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 »Schedule a demo
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