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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 »
Biomax Informatics AG Acquires LabVantage Solutions
Biomax Informatics AG, a management services organization, acquired LabVantage Solutions, Inc. The terms of the deal were not disclosed. Biomax Informatics offers software solutions for better decision-making and optimal knowledge management in the life sciences industry. It is based in Germany. LabVantage Solutions, Inc. is a provider of laboratory informatics solutions and services, including purpose-built LIMS solutions that allow labs to go live faster and at a lower cost. According to the LevinPro HC database, this was the 102nd Labs deal of the year. This compares with 90 Labs deals reported between Jan. 1, 2021, and Oct. 13, 2021. Read More »
Juniper Advisory Handles Sale of 3 HCA Hospitals to LCMC Health
LCMC Health, the New Orleans-based, non-profit health system, is adding three hospitals to its network in a new deal. Working with Juniper Advisory, a specialized investment banking firm focused exclusively on nonprofit organizations, LCMC has struck a deal to purchase Tulane Medical Center, Lakeview Regional Medical Center and Tulane Lakeside Hospital from HCA Healthcare. The deal coincides with a new partnership with Tulane University, which will involve LCMC and Tulane joining forces to expand health care in southern Louisiana. One element of the deal calls for most of the services provided at Tulane Medical Center to move to East Jefferson General Hospital and University Medical Center... Read More »
Smile Brands Announces Acquisition of Palm Springs Family & Cosmetic Dentistry
Smile Brands Inc., a portfolio company of Gryphon Investors, announced on October 11 that it acquired Palm Springs Family & Cosmetic Dentistry for an undisclosed amount. Smile Brands Inc. provides business support services to general and multi-specialty dental groups in approximately 700 affiliated practices in 30 states with 7,500 team members. Smile Brands supports a portfolio of more than 75 brands including regional brands Bright Now! Dental, Castle Dental, Merit Dental, Midwest Dental, Monarch Dental and Mondovi Dental. Palm Springs Family & Cosmetic Dentistry has one location in Palm Springs, California, and serves the surrounding area. It is run by three providers. The... Read More »
Healthcare M&A Activity Remained Strong in Q3:22, According to Market Data Captured By Irving Levin Associates, LLC
Healthcare merger and acquisition activity remained extremely active during the third quarter of 2022, with 734 publicly announced deals, according to new data captured by Irving Levin Associates on its LevinPro HC platform. While some sectors, like Hospitals and Managed Care, had a significant increase in activity, others like Medical Devices experienced a slowdown. Transaction volume in Q3:22 remained virtually the same with deal totals in Q2:22, but increased by nearly 20% compared with the third quarter in 2021. Healthcare M&A deal value totals revealed a slight increase from $57.74 billion in Q2:22 to $58.2 billion during Q3:22. The total disclosed dollars spent fell... Read More »
Atlas Healthcare Partners & Banner Health Acquire 2 Arizona ASCs
Atlas Healthcare Partners, in partnership with Banner Health, one of the largest nonprofit health care systems in the country, announced the acquisition of two ambulatory surgery centers (ASCs) in Scottsdale and Tucson, Arizona. The two ASCs, Banner Surgery Center – Desert Vista and Banner Cardiovascular Center – Tanque Verde, grow Atlas Healthcare’s portfolio to 27 ASCs that it manages throughout the United States. Banner Surgery Center – Desert Vista, located in Scottsdale, Arizona, will feature two operating rooms. It will also provide pain management and spine services in partnership with two physician investors. Banner Cardiovascular Center – Tanque Verde was converted from an... Read More »
Behavioral Health M&A Market Slows in Third Quarter
The Behavioral Health Care (BHC) sector appeared to be on the up-and-up since breaking records in deal totals in 2021 when there were 124 transactions announced. So far, during 2022, there have been 79 deals announced as of September 30, 2022, falling just short of the 83 deals announced during the same 2021 period. Although, pre-2021, this would be a strong showing for this market, it pales in comparison to the incredible growth we’ve been seeing lately in the BHC sector, which started to slow near the end of the third quarter. There were 23 BHC deals announced during Q3 of 2022 across nine different subsectors, including substance use, autism & I/DD services, psychiatric/clinical... Read More »
Hospital M&A Market Flash Update
Investment activity in healthcare is extremely healthy this year, with deal volume expected to break records. However, the hospital market seems to be in a different spot, based on year-to-date numbers. Through Q3, there have been 42 announced transactions, compared with 70 total in 2021. Deal closures have been slower, most likely due to market headwinds facing health systems and providers, such as labor shortages. There has also been stricter scrutiny of mergers and acquisitions from the Federal Trade Commission (FTC). The regulatory agency has sued to block several mergers, such as the deal between HCA Healthcare and Steward Health Care System for a sale of five hospitals in Utah and... Read More »
Shore Capital Partners Sells EyeSouth Partners to Olympus Partners
Shore Capital Partners, a Chicago-based healthcare-focused lower middle-market private equity firm, announced on September 29 that it was selling EyeSouth Partners to Olympus Partners. The financial terms of the transaction were not disclosed. Jefferies LLC is serving as exclusive financial advisor through its Essential Outpatient Healthcare franchise and Winston & Strawn LLP is serving as legal advisor to Shore and EyeSouth. Bass, Berry & Sims is serving as regulatory counsel to Shore and EyeSouth. Shore Capital Partners has approximately $3 billion of cumulative capital commitments through various investment vehicles. Olympus Partners is a private equity firm that manages more... Read More »Schedule a demo
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