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Ramsay Health Care Acquires U.K.-based Spire Healthcare
Last week, Australia-based Ramsay Health Care (OTCMKTS: RMSYF) announced a significant expansion in the U.K. hospital market. The company revealed it was acquiring Spire Healthcare Group, a leading independent hospital group in the United Kingdom with 39 hospitals, including three neurological rehabilitation centers and a mobile diagnostic scanning fleet. According to Spire’s annual report, the system generates most of its revenue from the National Health Service, which totaled approximately $1.30 billion in 2020. Spire also generated $160.9 million in EBITDA in 2020. The deal for Spire is valued at A$3.7 billion deal value including A$1.98 billion in debt, which equals about U.S. $2.87... Read More »
CORA Physical Therapy Sold to H.I.G. Capital
One of the largest networks of physical therapy networks is being traded. Gryphon Investors is selling CORA Health Holdings Corp. and its subsidiaries, doing business as CORA Physical Therapy, to H.I.G. Capital for an undisclosed sum. CORA currently operates 228 outpatient physical therapy clinics across nine U.S. states, primarily in the Southeast. The Company’s 850+ physical therapists, physical therapy assistants and other clinicians offer best-in-class outpatient physical rehabilitation services for orthopedic problems, work-related injuries, sports injuries and various neuromuscular and neurological conditions. Founded in 1993, H.I.G. Capital is a global private equity investment firm... Read More »
P3 Health Partners Goes Public
The private equity-backed P3 Health Partners is going public in a multi-billion-dollar merger with a SPAC. P3 Health Partners is merging with Foresight Acquisition Corp. (NASDAQ: FORE), and the combined company will have an estimated post-transaction enterprise value of $2.3 billion with an estimated equity value of $2.4 billion from the contribution of at least $180 million in cash proceeds from the transaction. P3 Health Partners was a portfolio company of Chicago Pacific Founders, which is exiting its investment in the company. P3 Health Partners is a patient-centered and physician-led population health management company that supports providers, physicians and practices as they... Read More »
LHC Group Buys Heart ‘n Home Hospice
The leading home health and hospice provider LHC Group, Inc. (NASDAQ: LHCG) is back with a new acquisition. The company is buying Heart ‘n Home Hospice, which has a total of six locations in southwestern Idaho and four locations in central and eastern Oregon. It also operates under the Treasure Valley Hospice brand. LHC Group is a leading national provider of in-home healthcare services and the joint venture partner of choice for 350 hospitals in the U.S. The acquisition marks LHC’s initial entry into hospice services in the state of Oregon and expands its existing hospice footprint in Idaho. LHC Group expects annualized revenue from this purchase to reach approximately $20 million... Read More »
Health Care M&A Deals, May 28, 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 Spire Healthcare Group by Ramsay Health Care for $2.87 billion. Spire Healthcare is a leading independent hospital group in the United Kingdom with 39 hospitals, including three neurological rehabilitation centers and a mobile diagnostic scanning fleet. The system generates most of its revenue from the... Read More »
Health Care M&A Deals, May 21, 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 Vigene Biosciences, Inc. by Charles River Laboratories International, Inc. for $292.5 million in cash upfront. Vigene Biosciences is a gene therapy contract development and manufacturing organization (CDMO) providing viral vector-based gene delivery solutions. The acquisition of Vigene Biosciences will... Read More »
Gastro Health Sold to OMERS Private Equity
One of the largest gastrointestinal physician groups has been sold to a Canadian private equity firm. OMERS Private Equity, based in Toronto, has purchased Gastro Health, LLC from Audax Private Equity. No terms were disclosed. Gastro Health is a medical group specializing in the treatment of gastrointestinal disorders, nutrition and digestive health. The group has more than 250 physicians with locations in Alabama, Florida, Maryland, Ohio, Virginia and Washington. Audax Private Equity has sponsored Gastro Health since it acquired them in 2016, and the partnership has produced nearly 20 transactions, including two this year. In March, the physician group purchased Digestive Disease... Read More »
Charles River Laboratories Buys Vigene Biosciences
The global contract research organization Charles River Laboratories International, Inc. (NYSE: CRL) is back with a new deal for Vigene Biosciences, Inc. The deal is valued at $292.5 million in cash up front, plus contingent additional payments of up to $57.5 million based on future performance. Vigene Biosciences is a gene therapy contract development and manufacturing organization (CDMO) providing viral vector-based gene delivery solutions. The acquisition of Vigene Biosciences will enhance Charles River’s gene therapy capabilities in the high-growth, value-added cell and gene therapy CDMO sector. Vigene is expected to generate annual revenue of $30 to $35... Read More »
Traditions Health Acquires Two Home Health Agencies
It’s been a busy year for Traditions Health, the private equity-backed home health company. So far, the agency has announced five transactions this year, the fifth last week for two different companies, Area Community Hospice and AmeraCare Family Hospice and Home Health. No terms were disclosed. Area Community is a hospice provider with locations in Plainview and Lubbock, Texas, and AmeraCare is a longstanding home health and hospice provider in the greater New Orleans area, servicing patients for over 20 years through multiple sites. The acquisition of Area Community expands Traditions’ reach to West Texas and strengthens an expansive and growing presence in the state. The acquisition... Read More »Schedule a demo
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