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Health Care M&A Deals, May 7, 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 HCA Healthcare’s divestment of four hospitals in Georgia valued at $950 million. The buyer is Piedmont Healthcare, a not-for-profit hospital system based in Atlanta, Georgia. The four hospitals are Eastside Medical Center (310 beds, Snellville), Cartersville Medical Center (119 beds, Cartersville), and Coliseum Health System, which includes... Read More »
Walmart Acquires Telehealth Platform
The retail behemoth Walmart (NYSE: WMT) is pushing deeper into healthcare. Last week, Walmart announced the acquisition of MeMD a national telehealth provider. The company was founded in 2010 and provides virtual care nationwide, leveraging the latest online technologies to deliver high-quality care 24/7. MeMD delivers medical and mental health visits to millions of members nationwide. This is not Walmart’s first foray into healthcare. MeMD will be merged with Walmart Health, a network of primary care clinics providing services ranging from optometry and mental health counseling services to dental care. The first location opened in 2019 in Dallas, but by the end of 2021, the company... Read More »
The MENTOR Network Expands in Texas
Private equity-backed The MENTOR Network is widening its footprint in Texas. The company is adding Sage Care Therapy Services, which currently serves 900 young people across North Texas. Its pediatric therapy offerings include physical therapy, occupational therapy, speech therapy and feeding therapy customized to each patient’s unique needs. Sage Care Therapy employs a multidisciplinary team, including bilingual therapists and translators, allowing the company to better meet the needs of the diverse community in Dallas, where the company is headquartered. This deal expands MENTOR’s offerings to include home-based delivery of pediatric therapies for children up to 21 years old in North... Read More »
HCA Healthcare Divests 4 Georgia Hospitals
The for-profit health system HCA Healthcare is downsizing, selling four hospitals in a deal valued at $950 million. The buyer is Piedmont Healthcare, a not-for-profit hospital system based in Atlanta, Georgia. The four hospitals are Eastside Medical Center (310 beds, Snellville), Cartersville Medical Center (119 beds, Cartersville), and Coliseum Health System, which includes two acute care hospitals (310-bed Coliseum Medical Centers and 103-bed Coliseum Northside). Coliseum Health System also houses the Coliseum Center for Behavioral Health, a 40-bed inpatient behavioral health facility in Macon, which was included in the deal. ... Read More »
CRH Medical Buys New England Anesthesia Associates
CRH Medical Corporation has had a busy year. Even after it was acquired by WELL Health Technologies Corp. (TSX.V: WELL) for $292.7 million (or $369.2 million including debt), the company has remained a prolific buyer in the healthcare market, announcing four deals so far this year. The latest deal from the company was announced in Connecticut for the purchase of New England Anesthesia Associates LLC for approximately $7.2 million. New England Anesthesia Associates (NEAA) provides anesthesia services to an ambulatory surgical center. The group has 17 practitioners. It has an estimated EBITDA of $1.44 million and an annualized revenue run rate of $3.6 million. With this deal,... Read More »
Unchained Labs Sold to The Carlyle Group
Private equity is branching out. Firms are usually swarming the physician group and behavioral health markets, building regional platforms, but we’re now seeing plenty of activity in new sectors, such as healthcare technology and research organizations. With fields such as diagnostics and gene therapy on the rise, it only makes sense for private equity to want a stake in the game. Last week, D.C.-based The Carlyle Group LP (NASDAQ: CG) announced it was buying Unchained Labs from Novo Holdings A/S, Canaan Partners, and TPG Biotech. The deal is valued at $435 million, or 5.80x Unchained Labs’ estimated 2021 revenue. Unchained Labs is a life science tools company focused on solving problems... Read More »
Pfizer Acquires Amplyx Pharmaceuticals
After getting its Covid-19 vaccine to market in record time, Pfizer Inc. (NYSE: PFE) is back on the acquisition trail. The pharmaceutical giant has purchased Amplyx Pharmaceuticals, Inc. for an undisclosed sum. Amplyx Pharmaceuticals is a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx’s lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections. In addition to Fosmanogepix, with this acquisition, Pfizer has secured ownership of Amplyx’s early-stage pipeline that includes potential antiviral... Read More »
USOSM Announces Three Deals in April
The M&A market for physician groups has been booming this year, with 132 deals on the books through the end of April, according to search results in our Healthcare Deals Database. Strategic buyers, health systems and private equity firms are quickly expanding their regional and national platforms, capitalizing on the still-fragmented market. Enter U.S. Oral Surgery Management (USOSM), which just announced three deals in April, widening its footprint across the southern United States. USOSM, a portfolio company of RiverGlade Capital and The Thurston Group, is a specialty management services company focused on oral and maxillofacial surgeons. The... Read More »
Humana Takes Full Ownership of Kindred at Home
One of the largest healthcare insurance companies in the United States is taking complete ownership of one of the largest home health providers. Humana Inc. (NYSE: HUM) has acquired the remaining 60% stake in Kindred at Home that it did not own from both TPG Capital and Welsh, Carson, Anderson & Stowe (WCAS). The 60% stake, including debt, is valued at $5.7 billion, giving Kindred at Home a total equity value of $8.1 billion, but the pricing is a little more complicated than, at least according to Humana. Kindred at Home (KAH) employs approximately 43,000 caregivers providing home health, hospice, and community care services to over 550,000 patients annually. The company has locations... Read More »Schedule a demo
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