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Addus HomeCare Buys Queen City Hospice
The hospice market has been booming in 2020, with a string of high-profile mergers and sales for hospice providers. Last week, Addus HomeCare Corporation (NASDAQ: ADUS) continued the trend with the acquisition of Queen City Hospice, LLC for $192 million in cash, representing $162.8 million of value plus $29.2 million in net present value of estimated tax benefits. Queen City Hospice currently serves an average daily census of approximately 900 patients across the state of Ohio, including patients in the Cincinnati, Columbus and Dayton markets. It was a portfolio company of Stonehenge Partners. The provider has generated EBITDA of $8 million and an annualized revenue of $56 million. The... Read More »
Centene Corporation Adds Digital Health Analytics Firm
Centene Corporation (NYSE: CNC), the managed care giant, has acquired Apixio Inc. to boost its healthcare analytics capabilities. Terms of the deal were not disclosed. San Mateo, California-based Apixio provides a technology suite that mines, compiles and analyzes large volumes of disparate, unstructured patient data (such as physician notes and medical charts), and creates and refines algorithms to extract high-quality insights to support payers’ and providers’ administrative activities. Apixio’s AI platform has been trained to handle the complexities and challenges of the healthcare industry and deliver proven results. Apixio will remain an operationally independent entity as part of... Read More »
Health Care M&A Deals, November 13, 2020
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 Cano Health, LLC’s reverse merger with Jaws Acquisition Corp., a special purpose acquisition company. The deal is valued at $4.4 billion. Cano Health operates primary care centers and supports affiliated medical practices in Florida, Texas, Nevada, and Puerto Rico that specialize in value-based care for seniors. As part of its care... Read More »
WELL Health Expands Telehealth Portfolio
WELL Health Technologies Corp. (TSX.V: WELL) has been on an acquisition marathon this year. The company has announced six transactions so far, based on search results from our HealthCareMandA.com Deal Database, including a new deal this week for Toronto-based INSIG Corporation. INSIG is a virtual care platform with a SaaS-enabled marketplace currently supporting over 2,800 healthcare practitioners. The platform has performed approximately 200,000 virtual care appointments in the last 90 days and has been used by over 500,000 patients since its inception. WELL Health is a digital health company leveraging the latest technology and trends in digital health. It owns and operates 20 primary... Read More »
Merck Boosts Oncology Portfolio
The pharmaceutical giant Merck & Co., Inc. (NYSE: MRK) has announced a new acquisition, prepping up its oncology product portfolio. Merck purchased VelosBio, a privately held clinical-stage biopharmaceutical company committed to developing first-in-class cancer therapies, for $2.75 billion in cash. VelosBio’s lead investigational candidate, VLS-101, is currently being evaluated in a Phase 1 and a Phase 2 clinical trial for the treatment of patients with hematologic malignancies and solid tumors, respectively. The transaction is expected to close by the end of 2020. Merck has been building up its oncology portfolio in recent months, trying to remain competitive in the growing market,... Read More »
Health Care M&A Deals, November 6, 2020
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 Merck & Co., Inc.’s acquisition of VelosBio for $2.75 billion in cash. VelosBio is a privately held clinical-stage biopharmaceutical company committed to developing first-in-class cancer therapies. VelosBio’s lead investigational candidate, VLS-101, is currently being evaluated in a Phase 1 and a Phase 2 clinical trial for the treatment... Read More »
Diagnostics, COVID-19 and Beyond
Testing has become one of the most defining words of 2020, especially as it relates to the COVID-19 pandemic. We see it in headlines daily and President Trump lists the testing capacity of the United States as one of his crowning achievements. But politics and media coverage aside, health experts often cite testing as one of the key components to containing the spread of the virus, underscoring the importance of those services. The demand for COVID-19 testing and diagnostics can be seen in recent quarterly earnings reports. LabCorp’s (NYSE: LH) revenue jumped by 33% in Q3:20 to $3.9 billion, compared with Q3:19. Roughly 31.5% of the increase was thanks to organic growth, bolstered by... Read More »
Retina Consultants of America Moves into South Carolina
Retina Consultants of America, a portfolio company of Webster Equity Partners, is wasting no time to expand. The physician group was just formed this past March through the merger of Retina Consultants of Houston, Retina Group of Florida, Long Island Vitreoretinal Consultants, California Retina Consultants and Retinal Consultants Serving Northern California in a deal valued at $350 million. Combined, the practices generated EBITDA of roughly $80 million. Now, Retina Consultants of America has added Palmetto Retina Center, LLC (PRC), which was founded in 2001 and serves central South Carolina. Its physicians offer comprehensive care in the treatment of vitreous and retinal diseases. PRC is... Read More »
Exact Sciences Acquires Thrive Earlier Detection
After over a year away from the healthcare M&A market, Exact Sciences Corp. (NYSE: EXAS) is back with a new acquisition. Last week, the company announced it purchased Cambridge, Massachusetts-based Thrive Earlier Detection Corp., a healthcare company focused on incorporating earlier cancer detection into routine medical care. Thrive is developing CancerSEEK, a liquid biopsy test that is designed to detect many cancers at earlier stages of disease. Under the terms of the agreement, Exact Science will pay $1.7 billion at closing, consisting of Exact Sciences common stock and 35% in cash. An additional $450 million would be payable based upon the achievement of certain milestones.... Read More »Schedule a demo
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