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Montecito Medical Acquires Florida-based Medical Office Building
On August 3, Montecito Medical Real Estate announced it acquired a medical office building (MOB) in Lithia, Florida for an undisclosed price. According to the LevinPro HC database, this marks the 22nd MOB transaction of Q2:22 and the 119th MOB deal of the year. 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 37,000-square-foot building, which opened in 2021, is fully occupied under a long-term lease by Orthopaedic Medical Group of Tampa Bay. This acquisition expands Montecito’s footprint in the Tampa-St. Petersburg area.... Read More »
Marpai Health Purchases Chicago-Based Managed Care Organization
Marpai Health, Inc. announced its acquisition of Maestro Health, a Chicago-based health & benefits company on August 4. This marks Marpai’s second acquisition since the start of 2021 and the first of 2022. The purchase price was $22.1 million. Founded in 2013, Maestro Health offers a platform that serves employers, employees, brokers and carriers. It serves more than 25,000 people and has more than 80 customers in more than 40 states with a 93% client retention rate. The company previously received growth capital financing from lead investor Oak HC/FT and SV Health Investors. Marpai Health uses artificial intelligence, and its platform Marpai Labs, to help reduce healthcare costs for... Read More »
BrightView Health Acquires Column Health in 2nd Acquisition of 2022
BrightView Health, a Cincinnati-based outpatient addiction treatment provider, has acquired Arlington, Massachusetts-based Column Health, which operates a network of 12 community-based outpatient mental health and addiction clinics throughout Massachusetts and Connecticut. Terms of the deal were not disclosed. Founded in 2016, Column Health provides mental health and substance use disorder treatment-related services, including medication-assisted treatment, psychotherapy, integrated lab testing, detoxification and medication management. It serves more than 4,000 patients in New England. Founded in 2014, BrightView Health operates 64 locations in Ohio, Delaware, Kentucky, Virginia, North... Read More »
PE-Backed Revecore Acquires 2 RCM Firms
Revecore, a provider of revenue integrity and claims solutions for health systems, announced on Aug. 3 its acquisition of two specialized revenue cycle management (RCM) firms. They include Kemberton, based in Franklin, Tennessee, and Cura Revenue Cycle Management (CRCM), based in Tampa, which were acquired for undisclosed prices. Dave Wojczynski, CEO of Revecore, will lead the newly combined entity. Founded in 2008, Kemberton is a specialized RCM firm that improves complex claims reimbursement. The company serves more than 400 hospitals and processes more than 1 million claims per year. CRCM is a specialized provider of software-enabled underpayment identification and recovery services to... Read More »
H.I.G. Capital Completes Acquisition of Barton & Associates
H.I.G. Capital, a global private equity and alternative assets investment firm based in Boston, completed its acquisition of Barton & Associates Inc. on Aug. 1. Terms of the deal were not disclosed. UBS Investment Bank and BofA Securities acted as financial advisors and McDermott Will & Emery LLP acted as legal counsel to H.I.G. JP Morgan Securities LLC acted as exclusive financial advisor and WilmerHale LLP served as legal counsel to Barton. Barton & Associates Inc. is a healthcare staffing company specializing in travel nursing, allied health care and government-related physician staffing markets. Headquartered in Peabody, Massachusetts, Barton offers staffing services on a... Read More »
3M Spins Off Health Care Business
On July 26, 3M (NYSE: MMM) announced its plans to spin-off its Health Care business, which would create two public companies that are well positioned to pursue their respective priorities. The transaction is expected to close by the end of 2023. Health Care is anticipated to be spun off with net leverage of around 3.0x – 3.5x EBITDA. New 3M expected to retain a stake of 19.9% in Health Care. The New 3M, with $26.8 billion in sales in 2021, will remain a global material science innovator serving customers across a range of industrial and consumer end markets. Health Care, with $8.6 billion in sales in 2021, will focus on wound care, healthcare IT, oral care and biopharma filtration.... Read More »
PE-Backed Pinnacle Fertility Acquires Seattle Fertility Clinic
Pinnacle Fertility announced on July 27 that it acquired Seattle Reproductive Medicine, marking the 17th fertility acquisition of the year. The financial terms of the transaction were not disclosed. Seattle Reproductive Medicine (SRM) operates six locations in Washington state. It has welcomed more than 12,000 babies into the world and frozen nearly 37,000 eggs. Currently, it employs 29 physicians. Backed by Webster Equity Partners, Pinnacle Fertility supports high-performing fertility clinics and comprehensive fertility service providers nationwide. Pinnacle clinics offer innovative technology and processes and comprehensive fertility treatment services, ensuring families... Read More »
The Stepping Stones Group Acquires CBEST in 3rd Deal of 2022
The Stepping Stones Group, a national provider of therapeutic, behavioral, autism, nursing and educational services for children in school, home and community settings, acquired the Center for Behavioral, Educational, and Social Therapies (CBEST) in the Los Angeles area. Hexagon Capital Alliance, a middle-market investment banking firm providing mergers & acquisitions, capital raise and strategic advisory services, represented CBEST in the transaction. Established in 2002, CBEST provides behavior therapy for students who have neurodevelopmental and/or emotional disorders such as autism spectrum disorder, attention deficit/hyperactivity disorder, speech/language issues and specific... Read More »
Seavest Healthcare Properties acquires Manhattan medical office building
On July 20, Seavest Healthcare Properties, a subsidiary of Seavest Investment Group, announced that it acquired a medical office building (MOB) in Manhattan for an undisclosed price. The eight-story, 57,000-square-foot medical office building is anchored by NYU Langone Health, which offers a wide range of primary and specialist-based healthcare services. Seavest Healthcare Properties invests in the medical office and outpatient facility sector. The firm acquires existing properties, joint ventures with established developers to build new properties and asset manages medical office buildings, outpatient facilities and similar healthcare real estate assets. This acquisition continues... Read More »Schedule a demo
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