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Danaher Corporation Buys Aldevron
The medical device giant Danaher Corporation (NYSE: DHR) is back with a new acquisition valued at nearly $10 billion. The company is buying Aldevron for $9.6 billion from private equity firm EQT Partners. Founded in 1998, Aldevron manufactures high-quality plasmid DNA, mRNA, and proteins, serving biotechnology and pharmaceutical customers across research, clinical and commercial applications. The business employs 600 people. No other financials for Aldevron were disclosed. The deal was financed by using cash on hand and/or proceeds from the issuance of commercial paper. Aldevron will operate as a standalone operating company and brand within Danaher’s Life Sciences segment. The... Read More »
Steward Health Acquires Five Tenet Hospitals
Back in June 2020, a management group of Steward Health Care physicians acquired a controlling stake in the health system and assumed ownership from its founding owner, Cerberus Capital Management. It was a significant move; one of the largest privately owned hospital chains in the United States became physician-owned. And now, Steward announced this week it is acquiring a portfolio of five hospitals from Tenet Healthcare Corporation (NYSE: THC) in Florida for $1.1 billion. It is the first acquisition for Steward Health since finalizing full physician control and leadership of the organization. The five hospitals included in the sale are Coral Gables Hospital (245 beds), Hialeah Hospital... Read More »
Medical Properties Trust Grabs 18 Behavioral Health Hospitals
The pubicly traded REIT Medical Properties Trust, Inc. (NYSE: MPW) is significantly expanding its property portfolio. Medical Properties Trust is buying 18 behavioral health hospitals from Welsh, Carson, Anderson & Stowe for $760 million and an interest in the operations of Springstone, LLC, a leading provider of behavioral health services in the United States for $190 million. Springstone provides a full continuum of behavioral care including inpatient, partial hospitalization, and intensive outpatient programs and has targeted diversified geographies with positive demographic trends and a commercial-heavy payor mix. The hospitals, along with additional facilities... Read More »
LifePoint Health & Kindred Healthcare Announce Merger
LifePoint Health has signed a definitive agreement to acquire Kindred Healthcare, LLC, the two companies announced late Monday. The deal brings together two major players in the acute and post-acute healthcare market. LifePoint Health, a subsidiary of RCCH HealthCare Partners, owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities across the country. Kindred Healthcare is the nation’s leading specialty hospital company delivering acute health services in its long-term acute care hospitals, inpatient rehabilitation hospitals, acute rehabilitation units, and behavioral health line of business, all specializing in... Read More »
Datavant Acquires Ciox Health
Private equity-backed Ciox Health has been sold in a $7 billion deal. The buyer was Datavant, a San Francisco-based digital health company that helps healthcare organizations safely link their data to improve medical research and patient care. It is backed by Roivant Sciences, SoftBank Vision Fund and Founders Fund. Ciox Health manages a platform that leverages clinical data to improve patient outcomes and lower healthcare costs. The company simply and securely connects healthcare decision-makers with the data and hidden insights in patient medical records. It was a portfolio company of New Mountain Capital. The combined company’s ecosystem of data and analytics will now include... Read More »
Summit Health Management Expands in New York City
After its transformational merger with CityMD in 2019, Summit Health Management has been quick to expand even further. In April this year, the company purchased Active Orthopedics & Sports Medicine, a leading orthopedic practice in New Jersey with 17 providers and three locations. Now, it’s continuing its ventures with the acquisition of Gotham Gastroenterology for an undisclosed sum. The purchase will add 16 gastrointestinal specialists across four offices in New York City to Summit Health’s current portfolio. These additions act as an important step toward Summit’s mission of providing diversified healthcare services in various locations nationwide. Summit Health is a portfolio... Read More »
Health Care M&A Deals, June 11, 2021
The Health Care M&A deals chart is a selection of transactions announced during the prior week(s). The M&A transactions presented here are from our HealthCareMandA.com Deal Database, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. The largest deal of the week is Datavant’s purchase of private equity-backed Ciox Health for $7 billion. Ciox Health manages a platform that leverages clinical data to improve patient outcomes and lower healthcare costs. The company simply and securely connects healthcare decision-makers with the data and hidden insights in patient medical records. It was a portfolio... Read More »
Monongahela Valley Hospital Joins Penn Highlands Healthcare
After a rough year due to the pandemic for Monongahela Valley Hospital, the organization has decided to merge with Penn Highlands Healthcare. In Monongahela Valley’s annual report, the hospital expressed financial stress after having to cancel elective procedures and shore up PPE for its staff, and was even forced to furlough employees. No financial terms for the merger were disclosed. Monongahela Valley is a 200-bed health facility with a 225-member medical staff representing more than 40 specialties. With more than 1,300 employees, Monongahela Valley is the largest employer in the mid-Monongahela Valley region and the third-largest employer in Washington County. In 2020, it had... Read More »
Cano Health Buys Florida Primary Care Operator University Health Care
The primary care operator Cano Health (NYSE: CANO) has had a busy year. The company just went public back in November 2020 in a $4.4 billion reverse merger with Jaws Acquisition Corp, a special purpose acquisition company. And now it is back with a new deal valued at more than half a billion dollars. Cano Health announced it was buying University Health Care and its affiliates, which provide comprehensive primary care to communities in South Florida. The company serves approximately 24,000 Medicare Advantage members. The deal is valued at $600 million, or $540 million in cash and $60 million in equity. University Health Care is expected to generate $355 million in revenue this year and... Read More »Schedule a demo
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