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Montecito Medical Acquires Uniontown, PA MOB
On October 14, Montecito Medical Real Estate announced that it acquired a medical office building (MOB) in Uniontown, Pennsylvania. The financial terms of the acquisition were not disclosed. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. The building consists of 17,865 square feet and is fully occupied under long-term lease agreements by two medical tenants: U.S. Digestive Health and Southwestern Endoscopy Center. The Uniontown acquisition continues Montecito’s expansion in Pennsylvania, where the company has acquired five... Read More »
Custom Health Acquires Health in Motion Network
Mountain View, California-based Custom Health acquired Columbus, Ohio-based Health in Motion Network. The terms of the deal were not disclosed. Custom Health connects people with pharmacists to manage drug complexity and maximize health benefits through personalized med delivery, virtual monitoring and proactive care. The company’s automated hubs, proprietary health platform and medication adherence network power a scalable solution for chronic condition management. Health in Motion Network is a digital healthcare technology company. The company’s Parawell software organizes patients’ health information. It enables patients and their care teams to manage and track all lab... Read More »
STAC Physical Therapy Acquires North Santa Rosa Physical Therapy
Manhattan Beach, California-based STAC Physical Therapy acquired Santa Rosa, California-based North Santa Rosa Physical Therapy. The terms of the deal were not disclosed. Founded in 2018, STAC Physical Therapy is a physical therapy provider and practice management organization. The acquisition marks STAC’s first entry into Sonoma County, California. North Santa Rosa Physical Therapy provides traditional and highly specialized physical therapy services for orthopedic problems, work-related injuries, temporomandibular disorders and various neuromuscular and neurological conditions. According to the LevinPro HC database, the transaction marks the 70th Rehabilitation deal of the year.... Read More »
Walgreens Takes Full Ownership of CareCentrix
A year ago in October, Walgreens Boots Alliance, Inc. (Walgreens) paid $330 million for a 55% stake in CareCentrix, which connects patients with at-home care through its extensive national network of providers. The majority-stake acquisition helped Walgreen push deeper into healthcare. The deal also came with the option for Walgreens to purchase the remaining stake at a later date. Just this past week, Walgreens followed through. The healthcare and retail giant purchased the remaining 45% stake in CareCentrix for approximately $392 million, which is based on the exit multiple agreed to at the time of Walgreens’ initial majority investment announcement. In Walgreens’ fiscal year... Read More »
ARC Health Acquires Relationship Therapy Center
ARC Health, a Thurston Group portfolio company, announced on October 17 that it acquired the Relationship Therapy Center, the most extensive couples therapy practice in the Midwest. The deal marks ARC Health’s third transaction since it was formed in 2021 in partnership with outpatient mental health provider Advanced Recovery Concepts. The terms of the deal were not disclosed. Founded in 2006 and located in St. Louis Park, Minnesota, Relationship Therapy Center is a counseling practice specializing in couples therapy. The practice has more than 30 therapists specializing in relationship counseling. ARC Health is a mental health specialty services organization supporting psychiatry,... Read More »
DiaCarta to Become a Publicly Listed Company Through Merger with HH&L Acquisition Co.
HH&L Acquisition Co., a publicly traded special purpose acquisition company (SPAC) targeting the healthcare sector in Asia, and DiaCarta, Ltd., a precision molecular diagnostics company and developer of novel oncology and infectious disease tests, announced on October 14 that they have entered into a definitive business combination agreement. The transaction implies a pre-money equity value of $460 million for DiaCarta on a fully diluted basis. The transaction is expected to close in the first quarter of 2021 and will position DiaCarta to capitalize on significant future growth within existing and new markets. Upon closing of the transaction, the combined company will be listed on the... Read More »
DirectMed Parts & Service acquires ScanMed
Poway, California-based DirectMed Parts & Service acquired Omaha, Nebraska-based ScanMed. The terms of the deal were not disclosed. Founded in 2004, ScanMed is an MRI coil design, manufacturer and repair company with a record of designing and repairing thousands of MRI coils for GE Healthcare, Siemens, Philips and Canon/Toshiba systems. A portfolio company of NMS Capital, DirectMed Parts & Service is an aftermarket diagnostic imaging parts, systems and service provider with more than 60,000 parts in stock. The company repairs, supports and sells GE, Siemens, Philips and Canon/Toshiba MRI and CT parts to healthcare networks, imaging centers and independent service organizations... Read More »
Burke Porter Group Acquires D&K Engineering
Burke Porter Group (BPG) announced on October 14 that it acquired San Diego, California-based D&K Engineering (D&K). According to the LevinPro HC database, this marks the 26th contract development manufacturing organization (CDMO) acquisition of the year. Founded in 1953, BPG is a global supplier of automated diagnostic, testing and production solutions serving life science and specialty industrial end markets. BPG focuses on automating high-precision processes, leveraging its capabilities in microfluidics, optical design, additive manufacturing, motion control and software. D&K Engineering is an end-to-end product design and contract manufacturing services provider supporting... Read More »
GFH Financial Group Grabs Another Medical Office Building Portfolio
GFH Financial Group, a Bahrain-based investment firm, has purchased a portfolio of 11 medical office buildings for $400 million. The assets are spread across California, Texas, Maryland and Louisiana and have a total of 1 million square feet. The price breaks out to approximately $400 per square foot. This portfolio’s properties are anchored by Baylor Scott & White, Texas A&M Health Science Center, Texas Tech University, Memorial Hermann and Tidal Health. GFH said in its release announcing the deal that the portfolio has been performing well, “with 99% rent collection during the COVID-19 pandemic.” The assets also house different specialty providers, positioning them for... Read More »Schedule a demo
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