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Health Care M&A Deals, July 9, 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. The largest deal of the week based on disclosed price is the acquisition of Vectura Group plc for $1.2 billion by Philip Morris International. Vectura is a provider of innovative inhaled drug delivery solutions that enable partners to bring their medicines to patients. The company has thirteen key inhaled and eleven non-inhaled products marketed by major global... Read More »
U.S. Oral Surgery Management Enters Arizona Market
U.S. Oral Surgery Management (USOSM) has cemented its position as one of the country’s most active physician medical group acquirers. With six acquisitions announced in the second quarter alone, USOSM has significantly expanded its regional portfolio from its humble beginnings in 2017 when it was formed by RiverGlade Capital and The Thurston Group USOSM is a specialty management services company focused on oral and maxillofacial surgery headquartered in Irving, Texas. It partners with smaller physician groups and provides operational, marketing and administrative support services to improve clinical and financial performance and produce steadier, more profitable growth. The practice... Read More »
Cano Health Acquires Doctor’s Medical Center
After acquiring University Health Care in mid-June for $600 million, Cano Health (NYSE: CANO) has already struck another deal. Cano Health announced last week it is acquiring Doctor’s Medical Center (DMC), which provides integrated, innovative care to Medicare, Medicaid and ACA members in South Florida. Founded in 1996, it has grown to 18 medical centers located in Miami-Dade and Broward counties. The deal is valued at $300 million cash, and concurrent with the acquisition, Cano Health borrowed $250 million through an unsecured debt facility. DMC is expected to generate $194 million in revenue and $22 million in EBITDA in 2021. The combination with DMC increases Cano Health’s... Read More »
Amedisys Buys Contessa Health
The home health and hospice giant Amedisys, Inc. (NASDAQ: AMED) is back with a new deal. Earlier in July, the company announced it was buying Contessa Health, which specializes in hospital-at-home and skilled nursing facility at-home services, for $250 million, or about 3.9x Contessa’s forecasted 2022 revenues of $64 million. And Amedisys expects that by 2025, revenues will grow by 118%. This is a good opportunity for Amedisys because it gives the company a larger foothold in the in-home services market, increasing its Total Available Market (TAM) from $44 billion to $73 billion, and provides a myriad of new services such as analytics, underwriting and care coordination. Perhaps most... Read More »
Parexel Sold in $8.5 Billion Deal
It looks like contract research organizations are still in high demand. EQT Private Equity and Goldman Sachs Asset Management Private Equity are teaming up to acquire Parexel from Pamplona Capital Management for $8.5 billion. Parexel is a leading global clinical research organization (CRO) serving sciences and biopharmaceutical clients. EQT is a purpose-driven global investment organization with more than $79 billion in assets under management across 26 active funds. Goldman Sachs Asset Management Private Equity is the primary investing area within Goldman Sachs, overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. This investment into Parexel will... Read More »
Second Quarter Healthcare M&A Heats Up
The second quarter of 2021 was another healthy period for dealmakers. Sure, there was technically a decline in deal volume compared with the first quarter, but the first three months of 2021 broke records. Dealmakers struck 542 transactions in the second quarter, an 11% decrease from the 611 announced in the first quarter. Not bad at all, especially when we remind ourselves that only 344 deals were announced in the second quarter of 2020. It seems like investors are trying to make up for the lost time. Transaction value, on the other hand, soared, hitting $126.1 billion in the second quarter, a 38% increase compared with the $91.3 billion disclosed in the first quarter and a staggering... Read More »
Ventas Buys New Senior Investment Group
The publicly traded REIT Ventas (NYSE: VTR) has announced a deal for New Senior Investment Group (NYSE: SNR), a real estate investment trust with a portfolio of 103 senior housing properties and 12,404 total units, the vast majority being independent living, located across 36 states. SNR was spun off from Newcastle Investment Corp. in November 2014. Major operating tenants/managers include Holiday Retirement (65 properties), Atria (21) and others including Grace Management, Merrill Gardens, Hawthorn Senior Living and Watermark Retirement Communities. The total purchase price, including assumed debt of $1.5 million, comes to $2.3 billion, or about $185,400 per unit. Under the terms of the... Read More »
Verisys Corporation and Aperture Health Merge in PE-Backed Deal
Two digital health companies, Verisys Corporation and Aperture Health, have been acquired and combined by funds managed by Stone Point Capital, a Greenwich, Connecticut-based private equity firm. No terms were disclosed. Verisys provides a comprehensive cloud-based technology platform of data, analytics, and services that supports enterprise-wide compliance in the U.S. healthcare industry. The company’s platform protects healthcare consumers by enforcing competency and regulatory compliance, system integrity, and patient safety through transparency. The company has been around for more than 30 years. Aperture Health helps health plans, health systems, and state Medicaid agencies... Read More »
Health Care M&A Deals, July 2, 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. The largest deal of the week based on disclosed price is the reverse merger of The Oncology Institute of Hope and Innovation by DFP Healthcare Acquisitions Corp., a publicly traded SPAC, valued at $842 million. The Oncology Institute has more than 80 board-certified hematologists/oncologists spread throughout 50 offices in Arizona, California and Nevada. It was... Read More »Schedule a demo
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