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Option Care Health’s Q3 2022 Earnings Highlights
On Thursday, October 27, 2022, Option Care Health, Inc., the nation’s largest independent provider of home and alternate site infusion services, announced financial results for the third quarter ended September 30, 2022. The Bannockburn, Illinois-based company reported: 14.5% increase in net revenue from $891.9 million in Q3:21 to $1.02 billion in Q3:227.4% increase in gross profit from $203 million (22.8% of net revenue) in Q3:21 to $218 million (21.4% of net revenue) in Q3:229.3% increase in net income from $35.5 million ($0.20 per share) in Q3:21 to $38.8 million ($0.21 per share) in Q3:229.8% increase in adjusted EBITDA from $78 million (8.7% of net revenue) in Q3:21 to $85.6 million... Read More »
Sabino Recovery Purchases Cypress Lakes Lodge
On October 26, Sabino Recovery, run by Thomas Isbell, announced its acquisition of Cypress Lakes Lodge, marking the 89th Behavioral Health Care (BHC) transaction of the year. Sabino Recovery specializes in the treatment of childhood or adult trauma, PTSD, anxiety, depression, substance abuse and addictions. The company is based in Tucson, Arizona and was founded in 2015. Based in Woodville, Texas, Cypress Lakes Lodge treats substance abuse from alcohol to opioids. It was established in 2017 and has a team of six dedicated employees to aid people in their recovery. This acquisition expands and strengthens Sabino Recovery’s substance use treatment capabilities into... Read More »
Ping An Healthcare and Technology Company Acquires Ping An Smart Healthcare for $96 Million
Ping An Healthcare and Technology Company Limited acquired Ping An Smart Healthcare for $96.864 million. The companies are based in Shanghai. Ping An Healthcare and Technology Company Limited is a part of Ping An’s managed care services system and also the flagship platform of Ping An’s healthcare ecosystem. It has established a business model based on managed care, family doctor membership and O2O (offline-to-online) healthcare services. Scientia Smart Health Technologies Limited and Ping An Yingxiang (Jiaxing) Software Company Limited, collectively referred to as Ping An Smart Healthcare, are business segments of Ping An Smart City. The two segments have empowered more than... Read More »
MB2 Dental Expands Foothold in California
MB2 Dental Solutions, backed by Charlesbank Capital Partners, announced on October 25 that it acquired Periodontics of the Desert. The financial terms of the transaction were not disclosed. MB2 Dental Solutions partners with dentists and specialists. Founded in 2007, MB2 offers general dentistry services, orthodontics, cosmetic dentistry and oral surgery. Periodontics of the Desert, based in Palm Desert, California, offers a wide range of dental and periodontics services. It is owned by two doctors, Peter S. Warshawsky, DDS and Robert H. Lacrampe, DDS. According to the LevinPro HC database, this acquisition marks MB2 Dental Solutions’ 31st acquisition, and fifth California... Read More »
Orthopaedic Associates Merges With Southern Orthopedic Specialists
Orthopaedic Associates has merged with Southern Orthopedic Specialists. Terms of the deal were not disclosed. Founded in 1988, Orthopaedic Associates has 12 physicians and serves Fort Walton Beach, Destin, Niceville and Crestview, Florida, and the surrounding areas. Southern Orthopedic Specialists is a group practice in Panama City, Florida, that specializes in orthopedic and sports medicine. It has five physician specialists and offers on-site physical therapy, advanced imaging and a durable medical equipment department. According to the LevinPro HC database, this is the 30th orthopedic practice transaction of the year. This compares with 28 orthopedic practice deals reported in... Read More »
Syncona Limited Acquires Applied Genetic Technologies Corporation for $23.5 Million
Syncona Limited has acquired Applied Genetic Technologies Corporation. The tender offer is for approximately $23.5 million in cash plus potential future aggregate cash payments of up to $50 million pursuant to contingent value rights. London-based Syncona focuses on founding, building and funding global leaders in life science. Applied Genetic Technologies Corporation is a clinical-stage biotechnology company focused on the development and commercialization of adeno-associated, virus-based gene therapies for the treatment of rare and debilitating diseases with an initial focus on inherited retinal diseases. According to the LevinPro HC database, this is the 116th Biotechnology deal of... Read More »
New Mountain Capital Acquired ClaimLogiq
Private equity firm New Mountain Capital, LLC has announced an investment in ClaimLogiq. No financial terms were disclosed, but New Mountain Capital is investing alongside ClaimLogiq’s existing investor, Eir Partners. ClaimLogic is a medical claims and processing company that provides integrated revenue cycle management (RCM) solutions and electronic transaction processing systems, as well as tools for healthcare providers of all sizes, including hospitals and physicians. The company is based in Mt. Pleasant, South Carolina. This isn’t New Mountain Capital’s first investment in the digital health market. In 2019, the firm purchased emids, which partners with health technology... Read More »
National Medical Billing Services Acquires RCM Provider MedTek
National Medical Billing Services, a healthcare revenue cycle management (RCM) company serving the surgical market, has acquired Woodland Hills, California-based RCM provider MedTek, LLC. This partnership will further enhance National Medical’s position as the complete end-to-end provider of outsourced revenue cycle solutions serving ASCs, surgical practices and anesthesia groups. Neal, Gerber & Eisenberg and Ropes & Gray LLP served as legal counsel to National Medical. Lincoln International served as the exclusive financial advisor to MedTek for this transaction and Proskauer Rose LLP served as legal counsel to MedTek. Founded in 2001 and headquartered in Woodland Hills,... Read More »
Symeres Acquires US-Based CRO Exemplify BioPharma
Symeres, a global drug discovery contract research organization (CRO) and contract development and manufacturing organization (CDMO), announced on October 25 the acquisition of Exemplify BioPharma, a US-based CRO that provides integrated end-to-end small molecule chemistry manufacturing and controls services to pharmaceutical and biotech partners. Terms of the deal were not disclosed. Keensight Capital, a private equity firm and the majority shareholder in Symeres, has worked together with the management teams of both companies to facilitate this business combination. This acquisition further strengthens Symeres’ strategic foothold in the United States. Saola Healthcare Partners... Read More »Schedule a demo
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