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LifePoint Health Subsidiary Acquires Springstone
LifePoint Health and Springstone announced on August 29 they have entered into a definitive agreement for a subsidiary of LifePoint to acquire a majority ownership interest in Springstone, which has 18 behavioral health hospitals and 35 outpatient locations across nine states. The transaction is expected to be finalized in early 2023. Medical Properties Trust will continue to own a majority of Springstone’s real estate locations and retain its minority stake in Springstone’s operating company. Barclays and Goldman Sachs served as financial advisors to LifePoint Health. Sidley Austin LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to LifePoint Health. Bradley... Read More »
MedMen Sells Florida Assets to Green Sentry Holdings for $83 Million
MedMen Enterprises Inc. sold its Florida assets to Florida-based Green Sentry Holdings LLC for $83 million in cash. The deal includes the sale of substantially all of MedMen’s Florida-based assets, including its license, dispensaries, inventory and cultivation operations. Additionally, MedMen agreed to license its trademarks in the state for two years, subject to termination rights, for a quarterly revenue-based fee. This acquisition follows MedMen’s previous divestment of its New York operations to Ascend Wellness Holdings in February 2022. Green Sentry Holdings LLC is associated with Brady Cobb, who is an attorney, lobbyist, strategist and consultant based in South Florida who... Read More »
U.S. Oral Surgery Management Acquires Oral and Facial Surgeons of Michigan
U.S. Oral Surgery Management (USOSM), a management services organization serving oral and maxillofacial surgeons, announced on Aug. 23 a partnership with Oral and Facial Surgeons of Michigan, marking USOSM’s first partner practice in the state. USOSM will provide Oral and Facial Surgeons of Michigan with support services, such as HR, technological support and negotiations of third-party payment schedules. Oral and Facial Surgeons of Michigan will retain complete clinical autonomy. Oral and Facial Surgeons of Michigan is an oral and maxillofacial practice with four locations in southeast Michigan. It has locations in Brighton, Clarkston, Hartland and Waterford. The practice has six doctors... Read More »
Upfront Acquires Patient Engagement Platform PatientBond
Upfront, a Chicago-based patient engagement and access platform, acquired PatientBond, on Aug. 18, creating a single enterprise technology solution to drive patient acquisition and loyalty. PatientBond is based in Salt Lake City, Utah and was founded in 2011. Terms of the deal were not disclosed. Joshua Klein of Neal Gerber Eisenberg, LLP acted as legal counsel to Upfront. Upfront delivers digital care navigation to improve patient experience, increase necessary visits, reduce no-shows and improve population health performance. Since 2016, Upfront has supported millions of patients through its digital platform, now serving more than 4,000 locations. According to the LevinPro HC... Read More »
U.S. Orthopaedic Partners Expands Network With Bienville Orthopaedic Specialists Acquisition
U.S. Orthopaedic Partners (USOP), backed by private equity firms FFL Partners and The Thurston Group, acquired Bienville Orthopaedic Specialists in Gautier, Mississippi. The transaction was announced on Aug. 18 and marks the ninth acquisition for USOP since it formed in Oct. 2020 and brings USOP’s presence in Mississippi to 96 orthopedic providers. Terms of the deal were not disclosed. Serving the lower six counties of Mississippi, Bienville Orthopaedic Specialists is one of the largest orthopedic providers on the Mississippi Gulf Coast. The company was founded in 1981 and has five locations. Bienville Orthopaedic Specialists consists of 32 providers (17 physicians and 15 physician... Read More »
The Pennant Group Acquires Ardent Hospice
The Pennant Group, Inc., the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, announced on Aug. 16 that it acquired Ardent Hospice and Palliative Care in San Diego. Terms of the deal were not disclosed. Ardent Hospice and Palliative Care offers home health care, serving between 20 and 50 hospice patients per day. The company received its Medicare certification in 2013. Headquartered in Eagle, Idaho, The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through 94 home health and hospice agencies and 49 senior living communities in 14 states. Its home health and... Read More »
Eir Partners Invests in ClaimLogiq
Eir Partners, a New York-based private equity firm focused exclusively on companies operating in the healthcare and healthcare technology marketplace sectors, announced on Aug. 16 the completion of a growth recapitalization of ClaimLogiq. Terms of the deal were not disclosed. ClaimLogiq is a medical claims processing company that provides integrated revenue cycle management (RCM) solutions and electronic transaction processing systems and tools for healthcare providers of all size, including hospitals and physicians. Founded in 2015, Eir Partners’ targeted stages of investment include growth equity through control buyouts. Eir Partners has completed or partnered on over $4.2 billion in... Read More »
Ambulatory Surgery Center in Naperville, Illinois Sold for $15.2 Million
Physician Real Estate Capital Advisors, LLC (PRECAP) announced on August 15 that it advised a sale of an ambulatory surgery center (ASC) in Naperville, Illinois for $15.2 million. The building was sold by an undisclosed seller. The acquirer is also undisclosed, but it is a privately-held company that specializes in healthcare-related real estate acquisitions. The 19,000 square foot building was built in 2008 and is occupied by Suburban Gastroenterology, Ltd. and Midwest Endoscopy Center, LLC. SGI employs nine physicians with a tenth starting in 2023. The price is $763 per square foot. PRECAP provides sale-leaseback and investment sale healthcare real estate advisory services to... Read More »
Cincinnati Children’s Hospital Broadens Foothold with Acquisition of West Chester Pediatrics
Cincinnati Children’s Hospital Medical Center announced on August 11 that it will acquire West Chester Pediatrics for an undisclosed amount. The acquisition will take effect on October 24, 2022. Founded in 1992, West Chester Pediatrics has one location in West Chester, Ohio, a suburb of Cincinnati. It provides a variety of pediatric services from vaccines to regular checkups. Through its two physicians, it serves more than 2,000 patients. Cincinnati Children’s Hospital Medical Center, a nonprofit academic medical center established in 1883, is one of the oldest pediatric hospitals in the U.S. With more than 650 inpatient pediatric beds, it has 26 locations that serve the Cincinnati... Read More »Schedule a demo
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