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InnovaCare Health Expands Texas Footprint with Pak Medical Group Acquisition
InnovaCare Health, backed by private equity firms Summit Partners and Bain Capital Private Equity, announced on November 8 the completion of its acquisition of Pak Medical Group, a physician-led medical group based in New Braunfels, Texas. As part of the InnovaCare family, Pak Medical Group will be supported by the organization’s management services organization (MSO) network, InnovaCare Partners. Pak Medical Group clinicians and team members now also have greater access to enhanced clinical tools, management expertise and other resources to ensure patients always receive the highest quality and most personalized care. Since 2018, Pak Medical Group has served patients with... Read More »
U.S. Acute Care Solutions Acquires MIDEO
U.S. Acute Care Solutions acquired MIDEO. Terms of the deal were not disclosed. Canton, Ohio-based U.S. Acute Care Solutions (USACS) is a physician-owned organization established in April 2015 by Emergency Medicine Physicians and private equity firm Welsh, Carson, Anderson & Stowe (WCAS). In February 2021, USACS bought out WCAS’ stake and became 90% owned by its physicians. Several health systems are minority owners. Erie, Pennsylvania-based MIDEO is a video-based advance care planning platform that provides individuals with the ability to visually and verbally communicate their wishes in any medical circumstance. According to the LevinPro HC database, this was the 298th eHealth... Read More »
MB2 Dental Acquires Reem Kidess PV Smiles in Arizona
MB2 Dental Solutions acquired Reem Kidess PV Smiles. Terms of the deal were not disclosed. Carrollton, Texas-based MB2 Dental Solutions, a portfolio company of middle-market private equity firm Charlesbank Capital Partners since February 2021, partners with dentists and specialists. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic dentistry and oral surgery. Reem Kidess PV Smiles is a private practice in Scottsdale, Arizona, with a focus on dental services such as full mouth restorative dentistry, including sedation, dental implants and cosmetic dentistry. According to the LevinPro HC database, this was the 171st dentistry practice transaction of 2022. This... Read More »
Amwell Posts Strong Earnings as Converge Platform Grows
Amwell (NYSE:AMWL) announced its financial results for the third quarter ended September 30, 2022. Amwell, formerly known as American Well, is a telemedicine company that connects patients with doctors over secure video. The company came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to loss of $0.20 per share a year ago. During the call, Ido Shoenberg, Chairman and Co-CEO of Amwell, spoke of progress in migration to Amwell’s digital health platform Converge, showing the company’s understanding that it must offer more than just video televisits to stay relevant post-pandemic. Mr. Shoenberg name-dropped clients such as CVS... Read More »
U.S. Foot & Ankle Specialists Acquires Podiatry Practices in Kentucky, South Carolina
U.S. Foot & Ankle Specialists (USFAS) acquired Comprehensive Foot & Ankle Centers and Palmetto Podiatry Group. Terms of the deal were not disclosed. USFAS, a portfolio company of private equity firm NMS Capital, provides treatment for foot and lower extremity conditions. Headquartered in Rockville, Maryland, USFAS provides services through a network of more than 100 offices in Maryland, Virginia, Pennsylvania, North Carolina, West Virginia, Ohio, New Jersey, Delaware, Illinois, Missouri, Florida and Washington, D.C., with more than 150 board certified podiatrists. Comprehensive Foot & Ankle Centers, with locations in Shepherdsville and Louisville, Kentucky, specializes in foot,... Read More »
Walgreens & VillageMD Strike a $9 Billion Deal for CityMD
Walgreens has had a busy few years in the healthcare M&A space, but the pharmacy and retail giant isn’t slowing down. Today, Walgreens announced its subsidiary, VillageMD, has agreed to purchase Summit Health-CityMD in a transaction valued at $8.9 billion, including debt. Walgreens is investing $3.5 billion in the deal, with other investments coming from an affiliate of Evernorth, a subsidiary of Cigna Corporation, which will remain a minority owner in Summit Health-CityMD. VillageMD and Summit will have more than 680 provider locations in 26 markets. Summit Health and CityMD merged in August 2019, creating Summit Health-CityMD, a primary, specialty and urgent care provider.... Read More »
Retina Consultants of America Enters New State
Retina Consultants of America (RCA) announced on November 4 that it acquired Illinois Retina Associates for an undisclosed amount. This marks RCA’s first transaction in Illinois. RCA is a physician management services organization formed by Webster Equity Partners and based in Southlake, Texas. RCA partners with retina specialists who seek a strategic partner with the capital resources and expertise to invest in their practice infrastructures and position them for continued growth in their markets. RCA operates in more than 180 locations in 17 states. Founded in 1976, Illinois Retina Associates is devoted to diagnosing and treating diseases of the retina, macula and vitreous in... Read More »
Viatris Acquires Oyster Point Pharma and Famy Life Sciences
Viatris Inc. announced on November 7 that it acquired two pharmaceutical companies: Oyster Point Pharma and Famy Life Sciences. The two acquisitions have an aggregate purchase price of approximately $700 million to $750 million. Viatris Inc. is a global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. In 2020, it reported $11.95 billion in revenue. Founded in 2015, Oyster Point Pharma is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases. In 2021, it reported $1.15 million in revenue. Famy Life Sciences is a drug development... Read More »
Sean “Diddy” Combs Acquires Medical Marijuana Assets from Cresco Labs and Columbia Care for $185 Million
Cresco Labs (CSE: CL) and Columbia Care (CSE: CCHW) announced on November 4 that they were divesting certain assets in New York, Massachusetts and Illinois. The undisclosed purchasing entity is owned by rapper Sean Combs and is acquiring the assets for a total of $185 million. This marks the 17th medical marijuana transaction of the year, according to the LevinPro HC database. Cresco Labs is one of the largest vertically integrated multi-state cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and... Read More »Schedule a demo
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