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Linden Capital Partners Portfolio Company Acquires Florida and Georgia Dental Practices
Sage Dental Management, LLC, a portfolio company of Linden Capital Partners, acquired two dental physician medical group (PMG) practices in Florida and Georgia for an undisclosed amount. The two practices, whose names were not disclosed, operate seven different facilities. Sage Dental Management is a leading dental service organization based in Boca Raton, Florida. It provides comprehensive non-clinical business and administrative support services to more than 250,000 patients and 70 practices in Florida and Georgia. The inclusion of these locations brings Sage Dental to 11 practices in Georgia and its 80th location across the country. Sage will also move its Downton Atlanta, Georgia... Read More »
DKSH Bolsters Its Medical Device Business with Acutest Systems Acquisition
DKSH Business Unit Healthcare has signed an agreement to acquire Acutest Systems, a Malaysian in-vitro diagnostic provider, expanding its presence in the fragmented medical device industry in Asia Pacific. The closing of the transaction is expected during the second quarter of 2022 and is subject to certain conditions. The transaction diversifies DKSH’s medical device business and provides the company access to additional general practitioners, pharmacy chains, medical centers, laboratories and hospitals. Malaysia is a dynamic medical device market which offers significant growth opportunities. Acutest also has a solid customer base and complementary supplier and product portfolios.... Read More »
Carlyle-Backed CorroHealth Closes Two Deals
In its first two deals since creation, CorroHealth, a portfolio company of private equity firm The Carlyle Group, acquired two separate revenue cycle management (RCM) companies, Aergo Solutions and ParaRev. The financial terms for neither of the transactions were disclosed. In October 2020, TrustHCS, Visionary RCM, T-System and RevCycle+ merged to become CorroHealth. It provides a greater breadth of reimbursement cycle, risk adjustment and quality solutions to health systems and payers. Backed by Northstar Capital and founded in 1993, Aergo Solutions solves revenue cycle challenges through a customized mix of services, technology and consulting. Aergo is a leader in denials... Read More »
JLL Acquires Flagstaff, AZ MOB for $17.2 Million
The medical office building (MOB) sector seems to never sleep, as JLL Income Property Trust, an institutionally managed daily NAV REIT with approximately $6.5 billion in portfolio assets, acquired yet another MOB. JLL announced on May 25 that it would acquire Flagstaff Medical Center, a newly constructed, state-of-the-art MOB in Flagstaff, Arizona, for $17.2 million. According to the LevinPro HC database, this transaction marks the 82nd MOB transaction of the year so far, as well as the 26th transaction of Q2:22. Additionally, this marks JLL’s 7th MOB acquisition of 2022. So far, the REIT has acquired approximately 315,869 square feet for nearly $146.4 million in announced spending.... Read More »
Private Equity Firms Expand into Rehabilitation
After several active M&A months, the Rehabilitation market has cooled. In January, Rehabilitation M&A activity hit a several month high with 16 announced deals. When compared to December 2021, which saw 13 deals and November 2021, with 12 deals, January 2022 does not seem like a large increase, but it is. According to LevinPro HC, February 2022 saw three announced deals; March saw nine deals; April saw eight deals; and May, so far, has only seen four deals. In total, there have been 40 Rehabilitation deals announced this year. One trend that is always worth noting is private equity activity in Rehabilitation. Out of the 40 deals, 27 of them have been done by private equity firms... Read More »
Sila Realty Trust Acquires Pleasant Hills MOB
On May 19, Sila Realty Trust, Inc., a public, non-traded REIT focused on healthcare properties, announced the acquisition of a multi-tenant medical office building (MOB) in Pleasant Hills, Pennsylvania for a contract purchase price of $14 million, excluding acquisition costs. This is Sila Realty Trust’s third transaction since the start of 2022 and the 78th MOB acquisition of the year. In January, Sila Realty Trust acquired a portfolio consisting of three MOBs totaling 132,617 square feet and two parcels of land totaling 1.52 acres for $47 million. Then, in March, the company acquired a Class-A MOB in the Oklahoma City area for $19.4 million. The Pleasant Hills property is a single-story... Read More »
Irwin Naturals Acquires Its Third Ketamine Treatment Provider of 2022
Irwin Naturals completed its acquisition of KHC Capital Group, LLC, which owns a chain of five ketamine treatment clinics in Florida plus an additional partnership contract with an affiliate clinic in Mexico. Financial terms of the transaction were not disclosed. The addition of the new ketamine clinic to Irwin Natural’s expanding footprint positions Irwin Naturals well for accelerated profit growth. This acquisition also marks Irwin Natural’s second announced deal of the month, after the nutraceuticals (natural products and supplements) company acquired New England Ketamine PLLC, a healthcare clinic in Salem, New Hampshire that provides ketamine infusions to the residents of New... Read More »
24 Hour Home Care Acquires California Home Care Agency Trusted Life Care
24 Hour Home Care, an award-winning non-medical in-home care provider, announced its acquisition of Trusted Life Care, a home care agency that provides personal care for seniors in California’s Orange and Los Angeles counties. Financial terms were not disclosed. According to the LevinPro HC database, this marks the 44th Home Health & Hospice transaction of 2022 so far, as well as the fifth announced during the month of May. This announcement also follows 24 Hour Home Care’s previous acquisition of another California-based home care agency, Bright Moon Care Services in March for an undisclosed price. The move to acquire Trusted Life Care originated from a strong referral partnership... Read More »
Montecito Medical Expands Further into New York
On May 11, Montecito Medical announced that it acquired two medical office buildings (MOB) outside of Rochester, New York. The two properties, which are in Penfield, are 100% leased to University of Rochester Medicine (UR Medicine). UR Medicine is one of the largest healthcare systems in New York and consists of almost 1,500 beds and more than 1,000 specialists. Montecito Medical is one of the largest privately-held companies specializing in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. The acquisition continues the expansion of Montecito’s footprint in... Read More »Schedule a demo
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