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HCA Healthcare Lowers 2022 Guidance
HCA Healthcare posted its financial performance for the first quarter of 2022, and there was some good news. The health system saw higher year-over-year revenues, increasing nearly 7% to $14.945 billion, compared to $13.977 billion in the first quarter of 2021. Same-facility revenue per equivalent admission increased 2.7% over the first quarter of 2021, while same-facility inpatient revenues grew 5.4%, and same-facility outpatient revenues rose 10.6%. Despite these gains, HCA’s year-over-year net income dipped, dropping from the first quarter of 2021’s $1.4 billion to nearly $1.3 billion in the first quarter of 2022. Adjusted EBITDA for the quarter also dipped from last year’s nearly $3.1... Read More »
H.I.G. Capital’s CORA Health Services Acquires Four Physical Therapy Clinics
On April 21, CORA Health Services, a portfolio company of H.I.G. Capital, announced the acquisition of Greenfield PT and Lava PT, adding four physical therapy clinic locations to its network. CORA Health Services, dba CORA Physical Therapy, is an outpatient rehabilitation company delivering a broad range of services. It has operations in Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia. This is CORA’s first acquisition since being sold by Gryphon Partners in the spring of 2021. Founded in 2014 and with locations in Spooner and Hayward, Wisconsin, Greenfield PT offers a wide variety of services, including general physical therapy and specialties in back and... Read More »
Total Vision Expands California Presence
On April 19, for the second time in 2022, Total Vision, backed by New York-based Bregal Partners, entered the M&A market with its acquisition of Santa Cruz Optometric Center. The financial terms of the transaction were not disclosed. For over 60 years, Santa Cruz Optometric Center has provided quality eye-care to patients in its Santa Cruz and Aptos offices. Total Vision is one of the largest networks of vision providers in California and is a recognized leader in the optometry industry. Its offices employ more than 500 staff members, including more than 100 doctors who provide care to more than 100,000 patients each year. By acquiring Santa Cruz Optometric Center, Total Vision... Read More »
Option Care Health Completes Acquisition of Specialty Pharmacy Nursing Network Inc.
Option Care Health, Inc., the largest independent provider of home and alternate site infusion services in the United States, completed the acquisition of Specialty Pharmacy Nursing Network Inc. (SPNN) on April 11, 2022, for $60 million. SPNN will maintain its current operations and continue to serve a broad array of infusion providers, specialty pharmacies and biopharmaceutical manufacturers as a separate enterprise within Option Care Health. Option Care Health, Inc. has more than 7,000 employees including 4,700 clinicians in all 50 states and with the acquisition of SPNN, Option Care now has a team of more than 2,900 nurses nationwide. Founded in 2009, (SPNN) is a national leader... Read More »
GoodRx Completes Acquisition of vitaCare for $150 Million
GoodRx, a leading consumer-focused digital healthcare platform, announced the completion of its previously announced acquisition of vitaCare Prescription Services from TherapeuticsMD for $150 million in cash, with an additional $7 million of consideration contingent payment upon vitaCare’s financial performance through 2023. VitaCare Prescription Services is a technology and services platform that helps patients navigate key access and adherence barriers for brand medications. Specifically, vitaCare helps patients understand coverage and identify available savings opportunities, and facilitates communications between providers and payors. The platform also offers a seamless path for... Read More »
Pinnacle Dermatology Acquires 16th Illinois Acquisition, Expanding Presence in the Midwest
After a few months of no announced deals, Pinnacle Dermatology, LLC entered the M&A fray for the first time in 2022. On April 11, the dermatology platform company of BayPine LP announced that it was acquiring Dermatology Physicians Group in Chicago for an undisclosed price. This acquisition is a great step in further strengthening Pinnacle’s ability to serve Chicago and surrounding Illinois communities. It is also part of Pinnacle’s strategy to build a strong base of dermatology practices across various geographic markets in the United States. Currently, Pinnacle operates dermatology clinics in Illinois, Texas, Tennessee and Michigan. Its services include skin care, patient... Read More »
Confluent Health Strengthens California Confluent with Orthosport Physical Therapy Partnership
Confluent Health has announced a new partnership with Orthosport Physical Therapy, a California-based physical therapy group. The partnership marks Confluent Health’s third partnership as part of California Confluent, a new company with a mission to exclusively build out physical therapy private practice partnerships throughout the Golden State, further enabling private practices to flourish. Financial terms of the transaction were not disclosed. This partnership will allow Orthosport Physical Therapy to maintain its existing brand while gaining access to Confluent Health’s ecosystem of management services, education, and musculoskeletal health innovations. By the end of 2021,... Read More »
EmpowerMe Wellness Makes Another Acquisition
EmpowerMe Wellness, a St. Louis, Missouri-based provider of health services geared towards seniors, has announced that it acquired Salus Physical Therapy, a Tampa, Florida-based physical therapy provider. The acquisition went into effect on April 1, and the financial terms were not disclosed. This transaction is the 28th announced Rehabilitation deal of 2022, which is a healthy total considering that there were only 96 Rehabilitation transactions in all of 2021. Founded in 2017, EmpowerMe Wellness describes itself as a tech-enabled, multiservice health care provider for senior living communities, providing integrated therapy, diagnostic, pharmacy and primary care services for their... Read More »
Parentis Health Expands Continuum of Care Services for Seniors with Pop-in Care Acquisition
Parentis Health, a Laguna Hills, California-based healthcare company focusing on senior care, has acquired Pop-in Care, a licensed home healthcare company catering to seniors, individuals with disabilities and those recovering from surgeries or other acute illnesses. Financial terms of the transaction were not disclosed. Parentis already offers several services for seniors, including home care, home health, hospice, and transportation services under the Parentis brand, and residential care, under its Verona Court brand. But its CEO Health Tarek A. El Nabli recognized the gap filled by Pop-in Care, which specializes in short visits, without minimum hourly or weekly time or visitation... Read More »Schedule a demo
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