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Health Care M&A Deals, June 25, 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 Pear Therapeutics, Inc.’s reverse merger with Thimble Point Acquisition Corp., a special purpose acquisition company managed by the Pritzker Vlock Family Office. Pear develops clinically validated software-based therapeutics to provide better outcomes for patients, smarter... Read More »
Select Medical and Northwest Healthcare Acquire Hospital in Tuscon
Last week, Select Medical and Northwest Healthcare announced a definitive agreement to form a joint venture and acquire Curahealth Tucson. No purchase price or hospital financials were disclosed. Curahealth Tucson is a 47-bed long-term acute care hospital owned by Community Health Systems (NYSE: CYH), which is divesting the hospital. Northwest Healthcare is an integrated healthcare provider in Tucson, and includes multiple hospitals and clinics, such as Northwest Medical Center, Oro Valley Hospital, Northwest Medical Center Sahuarita, Northwest Emergency Centers in Vail and Marana, three Northwest Urgent Care locations, Northwest Women’s... Read More »
Pear Therapeutics Goes Public
Another week, another SPAC deal. Pear Therapeutics, Inc., a leader in prescription digital therapeutics (PDTs), has announced it is merging with Thimble Point Acquisition Corp. (NASDAQ: THMA), a special purpose acquisition company managed by the Pritzker Vlock Family Office. Pear develops clinically validated software-based therapeutics to provide better outcomes for patients, smarter engagement and tracking tools for clinicians, and cost-effective solutions for payers. The combined business is expected to have a pro forma equity value of approximately $1.6 billion. The new company, Pear Holding Corp., secured a $125 million PIPE from investors including 5AM Ventures, Arboretum... Read More »
Another Deal for GI Alliance
The private equity-backed GI Alliance has had a busy year. With the support of Waud Capital Partners, GI Alliance has announced five deals so far in 2021, expanding its physician network across several markets. The latest was announced last week for Colorado Gastroenterology for an undisclosed sum. Colorado Gastroenterology, with three locations in Denver and Aurora, offers a full spectrum of gastrointestinal services, from routine preventive and diagnostic procedures to treatment of the most complicated gastrointestinal and liver conditions. The practice has four physicians. In March, GI Alliance struck a deal down in Texas, partnering with Austin Gastroenterology. The practice was... Read More »
Akumin Buys Alliance Healthcare Services
The diagnostic imaging provider Akumin Inc. (NASDAQ: AKU) has announced a definitive agreement to acquire Alliance Healthcare Services for approximately $820 million. Alliance HealthCare Services provides outsourced advanced radiology and radiation therapy services across 45 states in the U.S. Alliance partners with more than 1,000 hospitals, health systems and physician practices. It was owned by Tahoe Investment Group. Upon closing of the transaction, the combined company will offer the most comprehensive radiology and oncology solutions to patients in the U.S., operating in 46 states, with more than 1,000 hospital and health system customers, 154 independent outpatient radiology... Read More »
CD Health Infrastructure Partners Hits the Ground Running
CD Health Infrastructure Partners is capitalizing on the aging population in Northern Phoenix. The vertically integrated real asset investment firm acquired one medical office building, primarily leased out to Banner Health, in Paradise Valley, Arizona. Banner currently has the largest healthcare system in Arizona with over 50,000 employees. The medical office building has approximately 13,800 square feet, but the price for the facility was not disclosed. The Northern Phoenix area benefits from high population density and rapidly growing aging demographics. In particular, the population of age 75 and older within a 15-minute drive time is expected to grow at 5.8% per year from 2020 to... Read More »
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 »Schedule a demo
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