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UnitedHealth’s Optum Continues Buying Spree with Kelsey-Seybold Clinic Acquisition
Just one week after its parent company UnitedHealth Group spent $5.4 billion on home health provider LHC Group, Optum, has continued the buying spree and announced the acquisition of Kelsey-Seybold Clinic, a large, multi-specialty group practice based in Houston, Texas. Financial terms of the transaction were not disclosed. Founded in 1949 by Dr. Mavis Kelsey, Kelsey-Seybold Clinic is Houston’s premier multispecialty group practice with more than 500 physicians and allied health professionals practicing at more than 30 locations in the Greater Houston area. Kelsey-Seybold offers quality medical care in 55 medical specialties. The organization operates multi-specialty care centers, a... Read More »
U.S. Oral Surgery Management Makes Third Acquisition of 2022
U.S. Oral Surgery Management, a specialty management services organization based in Irving, Texas announced that it was acquiring Southwest Virginia Oral and Maxillofacial Surgery. The financial terms of the deal were not disclosed. U.S. Oral Surgery Management (USOSM), a portfolio company of Oak Hill Capital Partners, is a specialty management services organization focused on oral and maxillofacial surgeons. USOSM has partner practices spanning 19 states: Texas, Colorado, Georgia, Tennessee, Minnesota, Alabama, Oklahoma, Louisiana, South Carolina, Mississippi, Florida, Indiana, Kentucky, Arizona, California, Oregon, Virginia, Washington and Massachusetts. The company was formed in... Read More »
U.S. Physical Therapy Expands in PA
U.S. Physical Therapy (USPH), one of the largest providers of outpatient physical therapy in the United States, has announced a new acquisition for Harrisburg, Pennsylvania-based Madden and Gilbert Physical Therapy, LLC. Madden and Gilbert Physical Therapy, LLC operates six physical therapy clinics in South Central Pennsylvania. It generates more than $7.5 million in annual revenue and has approximately 71,000 patient visits per year. USPH is acquiring a 70% interest in the clinic valued at $11.5 million, implying a $15.71 million value for Madden and Gilbert Physical Therapy. The practice’s founders will retain the other 30%. This deal expands USPH’s presence in Pennsylvania.... Read More »
UnitedHealth Group Buys LHC Group, Inc. in $6 Billion Deal
March almost came and went without any major M&A news, but then UnitedHealth Group announced it was buying LHC Group, Inc., one of the largest home health providers in the nation. The deal is being completed through Optum, a significant part of UnitedHealth Group. LHC is going for $170 per share, or $5.4 billion in cash. With debt included, that brings the deal’s total to $6 billion. Based in Lafayette, Louisiana, LHC Group, Inc. is a national provider of in-home healthcare services and innovations for communities around the nation, offering quality, value-based healthcare to patients primarily within the comfort and privacy of their home or place of residence. The company’s... Read More »
Shopko Optical Acquires Minnesota Ophthalmology Practice in First Deal of 2022
In March, Shopko Optical announced that it had acquired InnoVision Eyecare, an ophthalmology office run by Dr. Gareth Hataye, for an undisclosed price. Shopko Optical, officially Shoptikal LLC, is an affiliate of Monarch Alternative Capital LP. It has a dedicated team of nearly 700 optometrists and opticians. Shopko Optical operates approximately 125 optical center locations across 12 states, primarily in the Midwest and Far West. Shopko Optical has made four eyecare acquisitions since December 2021. InnoVision Eyecare has been providing comprehensive eye care services to patients of all ages since 1994. The company operates eyecare centers in Albert Lea and Austin, Minnesota. Shopko... Read More »
MedPiper Strengthens Position in India
On March 25, MedPiper announced that it was acquiring MedWriter. Financial terms of the transaction were not disclosed. MedPiper, based in Bengaluru, India, is a platform to help verified healthcare professionals track job alerts, industry updates, research trends and more. It boasts of a database of over 65,000 verified health care providers and it provides its services for 35 healthcare organizations. MedWriter is an artificial intelligence writing assistant for doctors. MedWriter was designed and built by Lonere Labs, which acted as the seller in this transaction. Lonere Labs is a Bangalore-based product lab run by Abhijeet Katte. Already, more than 1,000 doctors and healthcare... Read More »
Bristol Hospice acquires Hope Hospice in First Deal of 2022
Bristol Hospice, a hospice services provider based in Salt Lake City, Utah, announced the acquisition of Missouri-based Hope Hospice, a locally-owned, community based hospice provider, for an undisclosed sum in the company’s first deal of the year, and marks Bristol’s entry into the Missouri market. This acquisition follows nine acquisitions during 2020 and 14 in total since private equity firm Webster Equity Partners purchased Bristol Hospice in 2017. Hope Hospice in St. Louis was established in the early 2000s. Discussions of a possible sale began in late 2020 with its M&A advisors Agenda Health. The deal reflects the growing importance of established community relationships and... Read More »
Development Solutions Expands in Georgia with the Acquisition of 4 Clinics
On March 23, Development Solutions and Facilities, a health care-focused real estate firm, announced that it was acquiring four medical office buildings in Georgia for $11.85 million. Development Solutions and Facilities is run by David Fowler and based in Birmingham, Alabama. It strategizes and executes solutions to develop, lease, manage, own, co-own, invest, acquire and monetize real estate assets. The Georgia properties include the Toccoa Clinic MedAccess in Toccoa, The Foothills Retail Center in Toccoa, Northeast Georgia Physicians Group Pediatrics in Lavonia and NGPG Primary Care in Clayton. The properties are occupied by Northeast Georgia Physicians Group and total 104,548 square... Read More »
Traditions Health Acquires Kansas-Based Serenity Health Management
Traditions Health LLC, a portfolio company of the family-owned investment firm Dorilton Capital Advisors, has acquired Serenity Health Management for an undisclosed amount, giving the company a larger foothold in Kansas. While Traditions offers hospice in the Kansas City region, this transaction marks the entry of its home health business into the state. Serenity Health Management is a hospice and home health provider based in Wichita, Kansas. The home-grown and rooted company is well-established in its market, giving it an edge among even its largest competitors in the state. This has also aided the provider with staff retention, which has become a key consideration in almost every... Read More »Schedule a demo
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