Healthcare M&A Volume Drops by More Than 30% in November
The healthcare M&A market slowed significantly in November, according to preliminary data in our LevinPro HC database. You could blame the holiday season or a few other extraneous events, but volume plunged by 31% compared with activity in October, dropping from 175 deals to just 120. Change in year-over-year volume was even more pronounced, falling by 34% compared with activity in November 2023. Although we expect to find more deals in the coming weeks (and from future SEC filings), November has been the slowest month of the year, with healthcare M&A numbers averaging 160 deals per month. On the other hand, spending soared during the month. In November, announced spending hit... Read More »
Respiri Acquires the Business and Assets of Orb Health for $9 Million
On November 26, Respiri Limited announced that it entered into an agreement with Orb Health, Inc. to acquire its business and assets for $9 million. The business and assets of Orb Health, Inc. include remote patient monitoring (RPM) and chronic care management services. Orb Health was founded in 2011 and is based in Richardson, Texas, a suburb of Dallas. Based in Melbourne, Australia, Respiri Limited is an e-Health SaaS company supporting respiratory health management. The company offers respiratory RPM. Respiri’s technology detects wheeze, a typical symptom of asthma, chronic obstructive pulmonary disease and respiratory disease to provide an objective measure of... Read More »
Montecito Medical Buys Bloomington, Illinois MOB
Montecito Medical Real Estate is acquiring a 14,649-square-foot medical outpatient building (MOB) located in Bloomington, Illinois. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving more than $5 billion in medical real estate across the United States. Cross Keys Capital, a leading independent investment banking firm providing M&A advisory services to physician group practices and healthcare services companies, served as the exclusive financial advisor to the seller, MC Support Property, LLC, in the sale of the MOB. Cross Keys Capital’s deal team consisted of Bill Britton and Roy Barnes. MC... Read More »
Defying Trends: How Agenda Health is Achieving Record-Breaking Success in a Challenging Market
Healthcare M&A activity has been facing a decline in recent years, a trend highlighted by data captured in the LevinPro HC database. During the first three quarters of 2024, 1,101 healthcare services deals were announced—a drop of nearly 8% compared to the 1,191 deals recorded during the same period in 2023, and an 18% decline from the 1,340 deals completed in the first three quarters of 2022, which was a record-breaking year for healthcare M&A. Across all healthcare verticals, including the healthcare technology sectors, the total number of deals in the first three quarters of 2024 stood at 1,510, reflecting a more than 10% decrease from the 2023 figures, and a nearly 20% drop... Read More »
McLaren Health Care Acquires Park Medical Centers
On November 25, McLaren Health Care announced that it acquired Park Medical Centers for an undisclosed price. Park Medical Centers is a group of 10 primary care health clinics heavily concentrated in communities throughout Wayne, Oakland and Macomb counties in Michigan. According to the press release, there are 21 providers on staff that serve 36,000 patients. McLaren Health Care is a fully integrated health network comprising 15 hospitals in Michigan and Ohio, a 490-member employed primary and specialty care physician network, outpatient centers, home health and hospice services and medical plans covering more than 588,000 lives in Michigan and Indiana. “Park... Read More »
Arlington Capital Partners Acquires TEAM Technologies
Arlington Capital Partners, a private equity firm based in Washington, D.C., announced on November 25 that it entered into an agreement to acquire TEAM Technologies. TEAM Technologies is a design and manufacturing partner to many of the world’s leading brands in the dental, medical and cosmetic industries. TEAM Tech is a leading provider of specialized manufacturing and strategic supply chain solutions to blue-chip healthcare customers. It was sold by Clearlake Capital Group, L.P., a private equity group based in Santa Monica, California. Before Clearlake purchased the company in 2018, TEAM was owned by The Riverside Company, a private equity firm based in New York... Read More »
Boston Scientific to Acquire Intera Oncology
Boston Scientific Corporation announced on November 25 that it has entered into a definitive agreement to acquire Newton, Massachusetts-based Intera Oncology Inc. Intera Oncology is a privately held medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine – a chemotherapy drug – both of which are approved by the U.S. Food and Drug Administration. The Intera 3000 pump is used to administer hepatic artery infusion therapy to treat tumors in the liver primarily caused by metastatic colorectal cancer. Boston Scientific develops and manufactures minimally invasive medical devices used in interventional cardiology, cardiac rhythm management, peripheral... Read More »
Health Advocates Augments Radiology Staffing Offerings With DiagnosTemps Acquisition
On November 25, 2024, Health Advocates Network, Inc. announced the acquisition of DiagnosTemps, a radiology staffing agency specializing in the placement of radiology professionals to healthcare facilities across the United States. DiagnosTemps was established in 1993 and headquartered in Dallas, Texas. Health Advocates Network specializes in healthcare staffing solutions, providing a range of services within the healthcare sector. The company was founded in 2020 and is based in Boca Raton, Florida. DiagnosTemps will continue to operate as a separate unit under the DiagnosTemps Joint Commission certified brand. Financial terms of the deal were not disclosed. The DiagnosTemps transaction... Read More »
Virtua Health Acquires Christiana Spine Ambulatory Surgical Center
On November 20, Merritt Healthcare Advisors, a provider of M&A consultative services for healthcare organizations nationwide, announced that Virtua Health was acquiring Christiana Spine Ambulatory Surgical Center (CSASC). CSASC is an ambulatory surgery center (ASC) in Newark, Delaware. The ASC specializes in spine surgery, diagnostics treatments, minimally invasive spine surgery and non-surgical treatments. Virtua Medical Group is an academic health system that provides a full spectrum of health care services. In addition to joint ventures with 42 ambulatory surgery centers in New Jersey, Pennsylvania and Delaware, Virtua operates five hospitals in Southern New Jersey and has... Read More »Schedule a demo
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