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Montecito Medical Acquires Yet Another MOB in Hagerstown, Maryland
On May 3, Montecito Medical, a premier owner of medical office properties throughout the United States, completed the acquisition of a new medical office building located in Hagerstown, Maryland. Julian P. Etches and Joe Donegan of Scheer Partners, Inc., brokered the transaction. Financial terms were not disclosed. The 20,454 square-foot medical office property is 100% occupied by Hagerstown Heart, the market area’s dominant cardiology practice which is affiliated with Meritus Health, a regional health system that serves patients in Maryland, West Virginia and Pennsylvania. Located northwest of Washington, D.C., Hagerstown anchors one of the fastest growing metropolitan areas in the... Read More »
Infusion Associates Expands Deeper into Michigan
On May 2, Infusion Associates, a Grand Rapids, Michigan-based infusion center, announced that it was purchasing Okemos Infusion Center, marking the 10th infusion services acquisition of 2022, the first of May and the first for Infusion Associates since 2018. The financial terms of the transaction were not disclosed. Infusion Associates is independently owned; it has more than five locations in the state and more than 90 healthcare professionals caring for upwards of 2,500 patients a month. Based in Okemos, Michigan, Okemos Infusion Center provides support to patients seven days a week. Okemos Infusion Center will be rebranded to Infusion Associates, joining one of the fastest growing... Read More »
Regal Healthcare Capital Partners Acquires Healthcare Staffing Agency
On April 26, one of Regal Healthcare Capital Partners’ portfolio companies, Oak Healthcare Staffing, announced that it acquired Cunningham Elite Staffing, marking the fourth healthcare staffing deal of the month. The financial terms of the transaction were not disclosed. Oak Healthcare, a travel nurse staffing firm, ensures clinical oversight and support to each nurse while on-the-job through a dedicated nurse advocacy team. Its seasoned recruiting team identifies and places high-performing nurses in 14 focused areas including the operating room, emergency room, intensive care unit, labor and delivery room and cardiac catheterization labs. Founded in 2017, Cunningham Elite Staffing... Read More »
Florida Revenue Cycle Management Company Billed Right Acquires Ruffe Systems
On April 26, Billed Right, a nationwide revenue cycle management (RCM) company headquartered in Longwood, Florida, announced the acquisition of Ruffe Systems, Inc. (RSI) Ruffe Systems is a Miami, Florida-based medical billing company founded in 1982 that specializes in medical billing services for hospital-based physician groups such as pathology and radiology. Financial terms of the transaction were not disclosed. Founded in 2006, Billed Right provides leading and innovative expertise in RCM solutions and operational management for healthcare organizations of all specialties. This deal will complement the experience Billed Right gained over the last 16 years in the medical billing... Read More »
Humana To Sell Majority Stake in Kindred at Home Hospice to CDR
Humana Inc., one of the largest health insurance companies in the United States, has signed a definitive agreement to sell a majority stake in Kindred at Home’s hospice and personal care businesses to New York-based private equity firm Clayton, Dubilier & Rice (CDR) for $2.8 billion. CDR is acquiring a 60% stake in the Kindred at Home personal care and hospice divisions, and Humana will retain the remaining 40%. Humana had previously acquired 40% ownership of Kindred in 2018, with the private equity firms Welsh, Carson, Anderson & Stowe (WCAS) and TPG Capital holding the remaining 60%. Last year, Humana bought out the two firms’ shares for $5.7 billion, and quickly announced plans... Read More »
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 »Schedule a demo
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