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Sila Realty Trust Acquires TGH Rehabilitation Hospital for $51.2 Million
Sila Realty Trust, Inc., a non-traded real estate investment trust, announced on July 21 its acquisition of the TGH Rehabilitation Hospital, an 80-bed inpatient acute rehabilitation facility in Tampa. The purchase price was $51.2 million, excluding acquisition costs. The acquisition of TGH Rehabilitation Hospital strengthens Sila Realty Trust’s presence in its home state of Florida. The TGH Rehabilitation Hospital manages the treatment and recovery of patients who have suffered a severe injury or illness. The facility is located on 3.8 acres and includes nearly 88,000 rentable square feet. It is 100% leased to Tampa Rehabilitation Hospital, LLC, a joint venture between Tampa General... Read More »
Amazon Acquires One Medical for $3.9 Billion Expanding Its Healthcare Market Presence
The $3.9 billion acquisition of One Medical (NASDAQ: ONEM) is one of Amazon.com’s (NASDAQ: AMZN) largest acquisitions, to date, and follows the rollout and expansion of Amazon Care in 2021. Through the acquisition, Amazon will have access to One Medical’s nearly 200 locations, increasing Amazon’s ability to provide in-person and digital care that’s accessible and convenient for all. On completion of the transaction, Amir Dan Rubin will remain as CEO of One Medical. One Medical is a network of primary care clinics offering services such as wellness and prevention, treatment for chronic conditions, mental health services, child care and LGBTQ+ services. 1Life Healthcare, Inc., the... Read More »
PE-Backed Fast Pace Health Completes Investment in First Care Clinics
Fast Pace Health, a portfolio company of private equity firm Revelstoke Capital Partners, announced on July 20 that it has completed an investment in First Care Clinics, which manages urgent care clinics in Kentucky and Indiana. First Care Clinics will be rebranded as Fast Pace in the coming months. Terms of the deal were not disclosed. The combination creates a multi-specialty provider of rural healthcare and value-based care population health management services offering more than 3 million annual patient visits in Tennessee, Kentucky, Louisiana, Mississippi, Indiana and Alabama. Brentwood Capital Advisors LLC served as financial advisor and Waller Lansden Dorch and Davis, LLP was... Read More »
Physician Medical Group M&A Activity Rises 5% in Q2:22
M&A activity in the Physician Medical Group (PMG) sector rose in Q2:22, reaching 142 publicly announced deals, which is a 5% increase from Q1:22 that saw 135 deals and a 35% increase from Q2:21 that saw 105 deals, according to LevinPro HC. This indicates that the PMG M&A market is not only stable but growing. However, while deal quantity shot up, disclosed spending was down by a fair amount. In Q2:22, disclosed spending barely reached $386 million, which is a major reduction from the previous quarter that had more than $1.5 billion in total disclosed sale prices. It is even a decline from Q2:21 that saw $489.2 million in announced prices. The largest PMG deal of the quarter was... Read More »
Propio Language Services Acquires LSP Ware
Propio Language Services, which provides document translation services, acquired LSP Ware, which serves the healthcare, judicial, education and language service industries. Terms of the transaction were not disclosed. Founded in 2011, LSP Ware is a developer of workforce management software Atrium. The company’s platform offers an end-to-end solution to connect language service companies, healthcare customers and interpreters. Founded in 1998 and owned by TT Capital Partners, Propio Language Services provides phone, video and in-person interpretation. With the acquisition, Propio adds software capabilities to its communication platform for all-in-one interpreting management and delivery.... Read More »
GI Partners Acquires GTY Technology Holdings in $374 Million Deal
GI Partners, a private investment firm, announced it acquired GTY Technology Holdings Inc., a SaaS company that offers solutions for governments, educational institutions and healthcare organizations, for $374 million. GI Partners, founded in 2001, has more than 130 employees with offices in San Francisco, New York, Chicago, Greenwich, Scottsdale and Dallas. The firm’s assets under management total $35 billion and it invests primarily in companies in the healthcare, IT infrastructure, services and software sectors. Boston-based GTY Technology Holdings provides services spanning functions in procurement, payments, grant management, budgeting and permitting. GTY shareholders received $6.30... Read More »
Montecito Medical Acquires MOB in Fayetteville, Arkansas
Montecito Medical Real Estate completed the acquisition of a medical office building (MOB) on July 12th in Fayetteville, Arkansas. The two-story, 19,000-square-foot building is fully occupied under a new, long-term lease by Northwest Arkansas Pathology Associates, which provides pathology services to 12 hospitals and more than 100 clinics and outpatient facilities throughout northwest Arkansas and eastern Oklahoma. In addition to the main building, the property also includes a 2,500-square-foot back building. With 22% growth since 2013, the Fayetteville-Bentonville-Rogers-Springdale MSA, commonly known as northwest Arkansas, is one the nation’s fastest growing markets. The area enjoys per... Read More »
Health Plans, Inc. Acquires Employers Health Network
Health Plans, Inc. (HPI) announced on July 11 that it acquired managed care organization Employers Health Network. Financial terms of the deal were not disclosed. HPI is a national third-party administrator that partners with health plan brokers and employers to provide self-funding strategies and customized plans, giving employers greater cost transparency and control. The company is based in Westborough, Massachusetts and was founded in 1981. Employers Health Network (EHN) is an Irving, Texas-based company that provides comprehensive healthcare plans. EHN’s plans connect employees directly with healthcare providers and its transparent pricing allows customers to see,... Read More »
Akeso Occupational Health acquires MedWorks Medical Center
Akeso Occupational Health announced its acquisition of MedWorks Medical Center, bringing its total number of clinics in California to 14. Terms of the deal were not disclosed. Akeso will combine the resources of its Santa Maria, clinic with MedWorks to increase its occupational health coverage from northern San Louis Obispo County through southern Santa Barbara County. Founded in 1999, MedWorks Medical Center is an urgent care center in Templeton, California, located in in San Luis Obispo County. MedWorks serves a diverse group of local agricultural, hospitality and other industrial employers. Headquartered in Irvine, California, Akeso Occupational Health is a workplace health resource... Read More »Schedule a demo
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