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Physical Rehabilitation Network Expands into California
On May 3, Gryphon Investors’ portfolio company, Physical Rehabilitation Network (PRN), announced its acquisition of Kinetix Advanced Physical Therapy. The financial terms of the deal were not disclosed. This is PRN’s first deal of the year. Founded in 1991, PRN specializes in physical therapy care, workplace ergonomics solutions and serves as a comprehensive practice management organization, providing non-clinical administrative support services to physical therapists across 16 states. PRN is known for its leading, value-driven practice management services and innovative, outcomes-driven physical therapy care. Kinetix Advanced Physical Therapy is a privately owned outpatient... Read More »
OncoHealth Secures Strategic Investment from Arsenal Capital Partners & McKesson Corporation
OncoHealth, the leading digital health company dedicated to oncology, announced on Monday it has received strategic investments from Arsenal Capital Partners, a private equity firm specializing in building transformational healthcare businesses, and from McKesson Corporation. The investments will support OncoHealth’s innovation and delivery of its oncology-specific digital health solutions for people with cancer, and Arsenal will take a majority ownership stake in the business. Financial terms were not disclosed. OncoHealth helps health plans, employers, providers, patients and life science researchers navigate the physical, mental and financial complexities of cancer through... Read More »
GI Alliance Acquires 6th Practice of 2022
In the first week of May, Waud Capital Partners’ portfolio company, GI Alliance, announced that it had acquired two separate gastroenterology practices; Digestive Health Specialists (DHS) in Kansas City, Missouri and Gastroenterology Consultants, based in Houston, Texas. Neither of the financial terms of the deals were disclosed. GI Alliance, a portfolio company of Waud Capital Partners, provides operational support to more than 1,000 providers, including over 625 gastroenterologists and physicians and 670 advanced practice providers across 11 states. It was formed through Waud’s partnership with Texas Digestive Disease Consultants in November 2018. DHS is a leading... Read More »
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 »Schedule a demo
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