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CommuniCare Health Services Acquires Stonerise
CommuniCare Health Services, Inc. acquired hospice and home health provider Stonerise, expanding CommuniCare’s reach in its home state of Ohio as well as West Virginia. CommuniCare now operates more than 110 health care centers across seven states. Terms of the deal were not disclosed. The acquired company’s 3,000 employees will transition to CommuniCare, according to Stonerise CFO Jessica Hudson, who will be the division vice president overseeing CommuniCare’s health centers in West Virginia. Established in 2009, Stonerise provides hospice, home health, transitional and skilled nursing care as well as therapy services to more than 2,000 patients across West Virginia and southeast Ohio.... Read More »
Evolent Health Acquires IPG in $375 Million Sale
Evolent Health, Inc., a managed care company, announced it acquired IPG, a provider of surgical cost management solutions, for $375 million. The seller was TPG Growth. Founded in 2011, Evolent Health is based in Arlington, Virginia, and provides an integrated, value-based care platform to health systems and physician organizations nationwide. IPG works with health plans, providers, surgical facilities, device manufacturers and patients to improve quality and reduce costs for surgical procedures through optimization of care and device selection. It was founded in 2004 and is based in Alpharetta, Georgia. The acquisition of IPG will expand Evolent’s specialty... Read More »
Cigna Completes $5.4 Billion Sale To Chubb
Cigna Corporation kicked off July by announcing the completion of the sale of its life, accident and supplemental benefits businesses in six markets across Asia Pacific to Chubb in a transaction worth approximately $5.4 billion. The businesses in Hong Kong, Indonesia, South Korea, New Zealand, Taiwan and Thailand have moved to Chubb. Cigna and Chubb agreed to exclude Cigna’s interest in a joint venture in Turkey from the transaction. Proceeds from the transaction will be utilized primarily for repurchasing shares, with $3.5 billion used to fund an accelerated share repurchase announced on June 16, 2022. When combined with Cigna’s previously completed share repurchases, the... Read More »
Big Sky Medical Real Estate Acquires 2 Tampa Area Medical Office Buildings From Harrod Healthcare Real Estate
Dallas-based Big Sky Medical Real Estate, whose key management has more than $2 billion in healthcare-related real estate investment experience, has acquired two medical office buildings (MOB) in the Tampa, Florida, MSA from Harrod Healthcare Real Estate. The buildings are in Brandon and Plant City, Florida, and contain a combined 75,000 square feet of space with tenants focusing on the medical and life science sectors. Terms of the deal were not disclosed. Big Sky’s investment focus can be found throughout the Southwest, Southeast, Midwest and Mid-Atlantic regions. Chicago-based JLL represented Harrod Healthcare Real Estate in the transaction. According to the LevinPro HC database, this... Read More »
PE-Backed Advanced Dermatology and Cosmetic Surgery Acquires Esterson Dermatology
Advanced Dermatology and Cosmetic Surgery (ADCS), a portfolio company of private equity firms Harvest Partners and Audax Private Equity, announced on June 28 the acquisition of Esterson Dermatology in Pikesville, Maryland. The acquisition marks the 160th location for ADCS as it continues to expand nationwide. Terms of the deal were not disclosed. Esterson Dermatology is a private practice led by Dr. Faith Esterson, a board-certified dermatologist and fellow of the American Academy of Dermatology. With offices in 14 states, ADCS was founded in 1989 and treats patients for conditions of the skin, hair and nails and offers advanced skin cancer treatments. It also offers non-surgical and... Read More »
Investment Firm New Mountain Capital Buys Contract Research Organization Emmes
New Mountain Capital (NMC) announced that it is acquiring Emmes, a contract research organization (CRO) based in Rockville, Maryland, from Behrman Capital. Founded in 1999, New Mountain Capital is an investment firm taht manages more than $35 billion in assets. It is based in New York City with offices in San Francisco and London. During 2021, NMC raised more than $10.2 billion in private equity funding. Emmes serves academic institutions, government agencies, non-profit organizations, foundations and biopharmaceutical companies in more than 60 countries. Emmes has more than 1,300 employees and achieved $110 million in 2021 revenue. It was founded in 1977. This is NMC’s... Read More »
Confluent Health-backed Strive Physical Therapy Acquires Dresher Physical Therapy
Strive Physical Therapy and Sports Rehabilitation, backed by Confluent Health, a subsidiary of the private equity firm Partners Group, acquired Dresher Physical Therapy on June 23. Financial terms of the deal were not disclosed. Founded in 2005, Strive Physical Therapy and Sports Rehabilitation is a physical therapy practice. It has 265 employees across 32 clinics in New Jersey and greater Philadelphia. The practice deals with sports medicine, work injuries, neurological conditions, occupational therapy and more. Dresher Physical Therapy is a private, therapist-owned physical therapy practice with two locations in Blue Bell and Fort Washington, Pennsylvania. It has 11 physical... Read More »
Alluvion Health acquires Moore Medical Clinic in Choteau, Montana
Alluvion Health is expanding to Choteau, Montana, with the acquisition of Moore Medical Clinic, a medical group practice that has been owned and operated by nurse practitioner Caralynn Moore for the past 30 years. The transition will take place on July 1, 2022. The new ownership will expand Moore Medical Clinic’s providers and services, including lab and radiological services in addition to primary care. Terms of the deal were not disclosed. Alluvion Health is a locally owned and operated not-for-profit health center focusing on providing primary and preventive medical, dental and behavioral care. Alluvion Health is governed by a board of directors including at least 51% patients and... Read More »
Private Equity Firm Astorg acquires Dutch Contract Research Organization
Astorg announced on June 20 that it acquired Avania, a global, full-service MedTech contract research organization (CRO) based in the Netherlands. Avania specializes in medical devices, technology and combination products. It was formed in March 2020 from the combination of five complementary businesses and established a platform to serve sponsors worldwide in advancing medical technology products from early development to post-market. It ensures customized, scalable solutions that optimize efficiencies and streamline the advancement of medical technology. Astorg is a global private equity firm with $15.7 billion of assets under management. Astorg partners with management teams to... Read More »Schedule a demo
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