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Partners Group Acquires Pharmathen
Outsourced R&D companies, such as CROs and CDMOs, have been in huge demand this year due to industry tailwinds. Biotech and pharma firms are racing to find treatment for diseases of high unmet need, and external research firms have the capabilities to help life science companies reach the finish line. The M&A market for CROs, especially, has been grabbing all the attention, but CMDOs are in high demand as well, as showcased by the acquisition of Pharmathen by private equity firm Partners Group from BC Partners for $1.9 billion. BC Partners invested in Pharmathen in mid-2015 in a transaction valued at approximately $560 million. Founded in 1969, Pharmathen is a leading CDMO... Read More »
Anchor Health Properties Buys 4 MOBs
The real estate investment firm Anchor Health Properties has expanded its property portfolio with the addition of four class-A medical office buildings (MOBs) totaling more than 210,000 square feet. Anchor Health is paying more than $100 million for the properties, or more than $475 per square foot, but the exact price was not specified. The assets were acquired through joint ventures with existing institutional equity partners in an off-market setting. The portfolio includes University City Medical Office Building in Charlotte, North Carolina (66,525 square feet), NorthBay Medical Office Building in Fairfield, California (29,620 square feet), IDC Medical Plaza in Renton, Washington... Read More »
MemorialCare Health System & Physical Rehabilitation Network JV Strike a Deal
MemorialCare Health System and Physical Rehabilitation Network (PRN) announced a joint venture in 2020 to operate 17 community-based, full-service physical therapy centers, creating one of Orange County’s largest consolidations of comprehensive medical rehabilitation. And now the JV has struck an agreement to expand, together adding Complete Balance Solutions Institute for Physiotherapy, Inc. to their network. Founded in 2006, Complete Balance Solutions is a premier destination for neurological, vestibular and balance injuries and disorders. The team collectively brings more than 25 years of experience specializing in treating individuals with dizziness, balance and movement disorders and... Read More »
PE-Backed USOP Adds 2 Physician Groups in Alabama
U.S. Orthopedic Partners (USOP) has had a busy 2021 so far. Back in March, the PE-backed physician network acquired Jackson Anesthesia Pain Center and Oxford Orthopaedics and Sports Medicine, PLLC in Jackson and Oxford, Mississippi, respectively. Both practices are well known in their regional markets for providing the most up-to-date orthopedic care, including both non-surgical and surgical options to treat a wide array of muscular-skeletal issues, including injury. And now in July, it’s added four more practices. Earlier in the month, USOP partnered with Orthopedic Institute of North Mississippi (6 physicians), which provides sports medicine and comprehensive orthopedic treatments... Read More »
Health Care M&A Deals, July 16, 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 new LevinPro Healthcare and LTC platform, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. To subscribe to our Health Care M&A deals chart and more, visit our membership site. LevinPro is devoted to healthcare merger and acquisition data for the serious analyst and investor. Every day, this service alerts you to developments in all the key segments of the health care service and technology markets. Behavioral Health Care AcquirerTargetPriceAutism... Read More »
M&A Demand for Substance Abuse Providers Surge
According to the Centers for Disease Control and Prevention, as of June 2020, 13% of Americans reported starting or increasing substance use as a way of coping with stress or emotions related to COVID-19. This uptick in substance abuse appears to be driving the Behavioral Health Care (BHC) deal market with a notable increase in deals targeting substance abuse treatment centers and providers. In the last two months, 77.7% of our BHC deals have involved the purchase of addiction treatment centers — but during the same time period (June through mid-July) in 2020 and 2019, about 56% of the BHC deals included this specific target type. Most recently, BRC Healthcare, a portfolio company of... Read More »
Addus HomeCare Expands in New Mexico
Addus HomeCare Corporation announced last week the $29 million acquisition of Armada Skilled Home Health & Hospice in New Mexico. Armada currently serves an average daily census of approximately 1,100 patients for home health services and 100 patients for hospice care, with primary coverage across Bernalillo County and surrounding counties. It has $23 million in annualized revenue. This deal expands Addus’ presence in New Mexico, an important market for the company. It is yet another step toward the company’s mission to expand its home health, hospice, and personal care lines in specific regions and states, as it did in Ohio in November when it bought Queen City Hospice for... Read More »
Eli Lilly Acquires Protomer Technologies
The pharma giant Eli Lilly and Company announced a new deal last week, taking full ownership of Protomer Technologies for $1 billion. Founded in 2015, Protomer engineers next-generation protein therapeutics that can sense molecular activators in the body. The company’s proprietary chemical biology-based platform enables the development of therapeutic peptides and proteins with a tunable activity that can be controlled using small molecules. Protomer has used this approach toward advancing a portfolio of therapeutic candidates, including glucose-responsive insulins that can sense sugar levels in the blood and automatically activate as needed throughout the day. Lilly previously led an... Read More »
Waystar Buys Revenue Cycle Management Firm Patientco
With the support of three financial backers, Waystar has been steadily expanding over the past few years. The company specializes in revenue cycle management services and partners with more than 450,000 providers, 750 health systems and hospitals, and 5,000 payers and health plans. To bolster its services and network, it added eSolutions in 2020 from Francisco Partners, which has 6,000 payer connections in the healthcare and post-acute market and maintains a powerful and growing data set of billions of transactions. And last week, Waystar added Patientco, a portfolio company of Accel-KKR and The Blue Venture Fund. Patientco provides omnichannel patient payments, communications and... Read More »Schedule a demo
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