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Datavant Acquires Ciox Health
Private equity-backed Ciox Health has been sold in a $7 billion deal. The buyer was Datavant, a San Francisco-based digital health company that helps healthcare organizations safely link their data to improve medical research and patient care. It is backed by Roivant Sciences, SoftBank Vision Fund and Founders Fund. Ciox Health manages a platform that leverages clinical data to improve patient outcomes and lower healthcare costs. The company simply and securely connects healthcare decision-makers with the data and hidden insights in patient medical records. It was a portfolio company of New Mountain Capital. The combined company’s ecosystem of data and analytics will now include... Read More »
Summit Health Management Expands in New York City
After its transformational merger with CityMD in 2019, Summit Health Management has been quick to expand even further. In April this year, the company purchased Active Orthopedics & Sports Medicine, a leading orthopedic practice in New Jersey with 17 providers and three locations. Now, it’s continuing its ventures with the acquisition of Gotham Gastroenterology for an undisclosed sum. The purchase will add 16 gastrointestinal specialists across four offices in New York City to Summit Health’s current portfolio. These additions act as an important step toward Summit’s mission of providing diversified healthcare services in various locations nationwide. Summit Health is a portfolio... Read More »
Health Care M&A Deals, June 11, 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 Datavant’s purchase of private equity-backed Ciox Health for $7 billion. Ciox Health manages a platform that leverages clinical data to improve patient outcomes and lower healthcare costs. The company simply and securely connects healthcare decision-makers with the data and hidden insights in patient medical records. It was a portfolio... Read More »
Monongahela Valley Hospital Joins Penn Highlands Healthcare
After a rough year due to the pandemic for Monongahela Valley Hospital, the organization has decided to merge with Penn Highlands Healthcare. In Monongahela Valley’s annual report, the hospital expressed financial stress after having to cancel elective procedures and shore up PPE for its staff, and was even forced to furlough employees. No financial terms for the merger were disclosed. Monongahela Valley is a 200-bed health facility with a 225-member medical staff representing more than 40 specialties. With more than 1,300 employees, Monongahela Valley is the largest employer in the mid-Monongahela Valley region and the third-largest employer in Washington County. In 2020, it had... Read More »
Cano Health Buys Florida Primary Care Operator University Health Care
The primary care operator Cano Health (NYSE: CANO) has had a busy year. The company just went public back in November 2020 in a $4.4 billion reverse merger with Jaws Acquisition Corp, a special purpose acquisition company. And now it is back with a new deal valued at more than half a billion dollars. Cano Health announced it was buying University Health Care and its affiliates, which provide comprehensive primary care to communities in South Florida. The company serves approximately 24,000 Medicare Advantage members. The deal is valued at $600 million, or $540 million in cash and $60 million in equity. University Health Care is expected to generate $355 million in revenue this year and... Read More »
Health Care M&A Deals, June 4, 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 based on disclosed price is the acquisition of Iora Health by One Medical for $2.1 billion. Iora Health is a national network of primary care clinics offering holistic, personalized care to patients through online and in-person sessions with individual health coaches. The company provides services such as mental health treatment and primary care for... Read More »
WELL Health Buys MyHealth Partners
It’s been a busy year for WELL Health Technologies Corp. (TSX.V: WELL). In early February, the company announced the acquisition of CRH Medical Corporation (NYSE: CRHM), which provides physicians with innovative services and products for the treatment of gastrointestinal diseases, for $292.7 million. Following that, in March the company purchased Intrahealth, a Vancouver-based healthcare software company, for a modest $12.16 million. Now, WELL Health is adding MyHealth Partners Inc. to its growing portfolio of companies. MyHealth Partners provides specialty care, telehealth services and accredited diagnostic health services provider that owns and operates 48 locations across Ontario.... Read More »
Convey Health Announces its Going Public
Healthcare technology firm Convey Holding Parent, Inc. announced a plan to raise $200 million through its upcoming IPO. The offering will consist of 13.3 million shares at an expected price range between $14 and $16 per share. In 2020, the company generated $288 million in consolidated revenue, a 28% increase over the previous year. Convey Holding Parent, also known as Convey Health, provides specialized Medicare technology solutions and healthcare advisory services to their customers. Its clientele ranges from national health insurance plans to pharmacy benefit management firms. Convey currently operates out of Fort Lauderdale, Florida. Convey Health has been backed by private equity... Read More »
National Health Investors Grabs Brookhaven Hospital
The healthcare REIT National Health Investors, Inc. (NYSE: NHI) is adding a behavioral health hospital to its portfolio. NHI is buying Brookhaven Hospital, a 64-bed specialty behavioral health hospital in Tulsa, Oklahoma, that specializes in treating patients that have suffered a traumatic brain injury. The deal is valued at $42.3 million; $40.3 million for the facility and $2 million committed for capital improvements over the next two years. The hospital is leased to Vizion Health, a growing operator of behavioral health hospitals led by an executive management team with extensive experience in the industry. The lease has a 15-year maturity with two five-year renewal options and an... Read More »Schedule a demo
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