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ETAO International Group Goes Public and Merges with Mountain Crest Acquisition Corp III
ETAO International Group, a multinational digital healthcare company founded in 2017, is merging with Mountain Crest Acquisition Corp III, a publicly traded special purpose acquisition corporation. ETAO International Group, a Cayman Islands company, aims to be the world’s leading digital healthcare group providing a range of online and offline healthcare services in China, including telemedicine, hospital care, primary care, pharmacy and health insurance covering all life stages of patients. The transaction values ETAO at a pro forma fully diluted enterprise value of approximately $2.5 billion with existing ETAO shareholders rolling over 100% of their equity into equity of the... Read More »
Francisco Partners to Acquire IBM’s Healthcare Data and Analytics Assets
IBM and Francisco Partners, a global investment firm that specializes in partnering with technology businesses, announced that the companies have signed a definitive agreement under which Francisco Partners will acquire healthcare data and analytics assets from IBM that are currently part of the Watson Health business. The assets being acquired include extensive and diverse data sets and products, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex and imaging software offerings. Francisco Partners is a private equity firm that specializes in investments in technology and technology-enabled service businesses. Since its launch in 1999,... Read More »
Empower Physical Therapy Expands in California With Six Locations
Empower Physical Therapy acquired ProActive Physical Therapy & Sports Medicine, a California-based rehabilitation organization, for an undisclosed price. Empower Physical Therapy, a portfolio company of Sheridan Capital Partners, provides physical therapy practice management services and operates outpatient physical therapy clinics throughout the southeastern United States. It is headquartered in Phoenix, Arizona and has offices in California, Texas and Louisiana, with 38 locations overall. ProActive Physical Therapy & Sports Medicine provides award-winning outpatient physical therapy services using a hands-on, individualized approach. ProActive currently operates locations in... Read More »
Encompass Health Announces Spin-Off Plans Under New Brand Enhabit Home Health & Hospice
On January 19, Encompass Health Corporation, a national leader in integrated healthcare offering facility-based and home-based patient care, announced its intention to spin off its home health and hospice business to form an independent, publicly traded company and to rebrand as Enhabit Home Health & Hospice. The establishment of Enhabit Home Health & Hospice will further strengthen Enhabit’s focus on high-quality, cost-effective care delivered in the home setting. The Encompass Health Board of Directors believes the spinoff will provide significant benefits to both businesses and their stakeholders, including improving the strategic and operational flexibility of each... Read More »
Gen4 Dental Partners Expands into New Territory
Gen4 Dental Partners, a newly formed Dental Service Organization, acquired Harris Dental, a nationally recognized leader in cosmetic dentistry. The terms of the deal were not disclosed. Harris Dental has been in practice for more than 40 years and is a nationally recognized leader in cosmetic dentistry located in Phoenix, Arizona. It employs five dentists who provide excellent service. The practice is known throughout the Phoenix area for its exceptional sedation dentistry and implants. A portfolio company of the private equity group The Thurston Group, Gen4 Dental Partners is one of the fastest growing, and highly innovative dental services organization, providing world-class... Read More »
Eye Health America Expands Into Georgia
Eye Health America, an eye care practice management company headquartered in Greenville, South Carolina, acquired Southeast Retina Center, an ophthalmology practice. Southeast Retina Center (SERC) is one of the go-to retina providers in Augusta Georgia, Aiken, South Carolina and throughout southeastern Georgia with a strong culture of outstanding patient care, cutting-edge innovation and clinical/surgical research. It is run by Dr. Dennis Marcus, who is an internationally recognized leader in retinal research. Eye Health America, a portfolio company of LLR Partners, is an eye care practice management company. Its member practices offer routine eye exams, contact lenses and glasses, medical... Read More »
Diana Health Raises $11 Million in Series A Funding to Redesign Health Programs at Hospitals
New York City-based Diana Health has secured $11 million in a Series A funding round for redesigning maternity and women’s health programs at hospitals. In conjunction with the funding round, Diana Health has also formed a collaboration with TriStar StoneCrest Medical Center, part of TriStar Health, the local health system of Nashville-based hospital giant HCA Healthcare Inc. Diana Health will open its first physical location and launch its first end-to-end maternal care program with TriStar StoneCrest in Smyrna, Tennessee in the coming weeks. The funding, co-led by two venture capitalists firms, LRVHealth and .406 Ventures, with participation from existing investor AlleyCorp. will be used... Read More »KKR Closes $4.0 Billion Health Care Strategic Growth Fund II
The leading global investment firm, KKR, announced that it had closed its $4.0 billion fund of KKR Health Care Strategic Growth Fund II. The fund, or HCSG II, is dedicated to health care growth equity investment opportunities, mostly in North America and Europe. KKR is expected to make more healthcare acquisitions in the future and will be investing approximately $500 million of capital in the fund, alongside investors. HCSG II will focus on the biopharmaceutical, medical device, health care services, life science tools, diagnostics and health care information technology sub-sectors. Within the past year, KKR executed several new investments as part of its Health Care Strategic Growth... Read More »
Headspace Health Grabs AI-Driven Mental Health and Wellness Company Sayana
On January 12, Headspace Health, the provider of the world’s most accessible, comprehensive digital mental health platform, announced the acquisition of Sayana, an AI-driven mental health and wellness company based in San Francisco, California. The financial terms of the transaction were not disclosed. Founded in 2018 and backed by Y Combinator in 2020, Sayana is an AI-driven mental health and wellness company that has supported users around the world to improve their mental wellness by helping its members become more mindful of the connections between their feelings and events. The Sayana Self-Care app leverages chat-based sessions with an AI persona named Sayana, who encourages users to... Read More »Schedule a demo
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