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The Dust Settles: Healthcare M&A Activity Simmers Down
After a strong start to the year, deal activity has finally cooled off. During February, there were 135 healthcare deals, a 53% decrease from January 2022, which had a record-breaking 290 deals. Such a drastic drop is to be expected. The market naturally goes into an ebb and flow, and historically, January is always much busier than February. Additionally, the deal total last month wasn’t far off from what we saw in February 2021, when there were 142 deals across all sectors. The busiest sector during February 2022 was Other Services, which had 32 announced transactions across a wide range of sectors, including medical office buildings, ambulatory surgery centers, contract research... Read More »
Piedmont and The University Health Care System Finalize Merger
Piedmont Healthcare has expanded its already deep network in Georgia with the finalization of its merger with The University Health Care System. The two organizations signed a letter of intent in May 2021, and on Tuesday, March 1, University Health joined the Atlanta-based system. University Health Care System serves the greater Augusta region, anchored by University Hospital (598 beds), founded in 1818 as City Hospital. The system includes University Hospital Summerville (231 beds), also in downtown Augusta, and University Hospital McDuffie (25 beds) in Thomson, Georgia. In addition, University has two skilled nursing and rehabilitation centers and serves ambulatory patients with... Read More »
Job.com Acquires Healthcare Recruitment Firm QCI Healthcare
On March 2, Job.com, the data-driven, AI-powered recruitment platform, announced the acquisition of QCI Healthcare, a Grand Rapids, Michigan-based staffing agency. This marks the fourth successful staffing agency acquisition by Job.com, which is strategically continuing to build its position leading the digital transformation of the industry. The transaction closed on December 23. Terms of the multi-million-dollar acquisition were not disclosed. QCI Healthcare is a Grands Rapids, Michigan-based recruitment company that provides health professionals to facilities in need of supplemental staffing on a per diem basis, or for contracts ranging anywhere from 8-26 weeks. It also provides private... Read More »
Welsh, Carson, Anderson & Stowe Acquires Majority Stake in LIBERTY Dental Plan Corporation
Early in March, Welsh, Carson, Anderson & Stowe (WCAS), a private equity firm based in New York, announced that it was acquiring the majority stake in LIBERTY Dental Plan Corporation. Anthem, Inc. (NYSE: ANTM), a leading health company and a LIBERTY customer since 2010, will also become a minority investor. The terms of the deal were not disclosed. LIBERTY is a dental benefits administrator founded by dentists and health industry professionals in 2002. LIBERTY currently administers dental benefits in all 50 states, including on behalf of 5.8 million Medicaid, Medicare Advantage, commercial and exchange members. It was founded in 2001. Established in 1979, Welsh, Carson,... Read More »
The Rise Fund Acquires Blue Cloud Pediatric Surgery Centers
On February 28, The Rise Fund, TPG’s multi-sector global impact investing strategy, announced the acquisition of Blue Cloud Pediatric Surgery Centers, an operator of pediatric dental ambulatory surgery centers (ASCs) dedicated to providing dental care to pediatric and special needs patients under general anesthesia. Financial terms of the transaction were not disclosed. The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’... Read More »
Revelstoke Capital Partners Invests In Primary Care
Revelstoke Capital Partners, a Denver-based private equity firm focused on investing in healthcare services companies, announced that it has invested in ClareMedica Health Partners, LLC, a Florida-based leader in value-based primary care serving Medicare Advantage members. Revelstoke Capital Partners is a private equity firm specializing in the healthcare and business services sectors. Revelstoke is based in Denver, Colorado and has approximately $4.3 billion of assets under management. Since the firm’s inception in 2013, Revelstoke has completed 142 acquisitions, which includes 25 platform companies and 117 acquisitions. ClareMedica is a growing health care company that provides... Read More »
Amedisys to Acquire Home Health Assets from AssistedCare Home Health and AssistedCare of the Carolinas
On February 23, Amedisys, Inc., a leading provider of quality home health, hospice, personal care and high-acuity care, announced it has signed a definitive agreement to acquire certain home health assets from AssistedCare Home Health, Inc. and RH Homecare Services, LLC, doing business as AssistedCare Home Health and AssistedCare of the Carolinas, respectively. The transaction is expected to close on or around April 1, 2022. AssistedCare Home Health was founded in 1994 by its current CEO, Russell Herring. Today the company provides an extensive range of in-home services throughout eastern North Carolina, including home health and long-term at home care. Doing business as AssistedCare of... Read More »
Cerner Posts A Lower Than Expected Financial Performance
Cerner Corporation posted its financial performance for the fourth quarter of 2021, and the full year of 2021. Cerner is an electronic health record (EHR) vendor based in Missouri. For 2021, the company posted a revenue of $5.7 billion, which is up 5% from 2020 at $5.5 billion. Its net earnings for 2021 decreased from $780.1 million in 2020 to $555.6 million in 2021, which represents a 29% drop from the year before. In the fourth quarter of 2021, Cerner reported $1.45 billion in revenue, which is up from 2020 that reported $1.39 billion for the same period. Net earnings also rose in the final quarter, with $174.8 million, which is a 24% increase from $141.5 million in 2020. Yet, Cerner’s... Read More »
VillageMD Buys Chronic Care Management Company Healthy Interactions
On February 15, VillageMD announced the acquisition of Healthy Interactions, which helps patients manage chronic conditions through interactive educational programming as part of a stronger patient-provider relationship. Financial terms of the transaction were not disclosed. Healthy Interactions is a patient engagement company that improves outcomes of diabetes and other chronic medical conditions for hospitals, clinics and providers. Its services include small group sessions and a digital engagement platform aimed at supporting patients before and after a session. The virtual platform allows patients to track their goals and tap into educational resources, and to connect with healthcare... Read More »Schedule a demo
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