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Cimarron Healthcare Enters Behavioral Health Space
Two private equity firms exited an investment and one dove into it. The target, Ascent Behavioral Health, is a portfolio company of Monroe Capital and Veronis Suhler Stevenson. The Salt Lake City-based company provides wilderness therapy, residential treatment and therapeutic boarding school programs for adolescents with mental health issues such as depression, anxiety and attachment disorders. Financial terms were not disclosed. The buyer, Cimarron Healthcare Capital, which is also based in Salt Lake City, focuses on investments in the lower middle market. Its portfolio consists of AMPS (Advanced Medical Pricing Solutions), a healthcare cost management firm; Linen King, which provides... Read More »
Welltower Unloads Seniors Housing Portfolio
Welltower Inc. (NYSE: WELL) announced the largest deal so far in the month of February, by price, at least. It’s been a slow month for healthcare mergers and acquisitions, so the selling price of $740 million is leading the pack. The portfolio consists of assisted living communities located in California, Nevada and Washington. They were primarily assisted living communities that were 97% occupied, on average. The buyer wasn’t disclosed. It wasn’t the only divestiture by Welltower this month. The company also sold three skilled nursing facilities for $67 million. The SNFs have a combined total of 429 operational beds, for an average of $156,177 per bed. The average age of... Read More »
Health Care M&A Deals, Week Ending February 21, 2020
The Health Care M&A Weekly chart is a selection of transactions announced during the prior week(s). The deals presented here are from our Deal Search Online database, which is updated every business day. Visit www.dealsearchonline.com to see how Deal Search Online can help you stay up-to-date on the healthcare market overall, or in a particular sector of interest to your firm. Behavioral Health Care Acquirer Target Price Cimarron Healthcare Capital Ascent Behavioral Health N/A Biotechnology Acquirer Target Price GlaxoSmithKline plc Rights to two TCR-T programs $48,632,850 eHealth Acquirer Target Price The Citadel Group... Read More »
Health Care M&A Deals, Week Ending February 14, 2020
The Health Care M&A Weekly chart is a selection of transactions announced during the prior week(s). The deals presented here are from our Deal Search Online database, which is updated every business day. Visit www.dealsearchonline.com to see how Deal Search Online can help you stay up-to-date on the healthcare market overall, or in a particular sector of interest to your firm. Biotechnology Acquirer Target Price Genprex, Inc. License to diabetes gene therapy N/A Ligand Pharmaceuticals Incorporated Icagen’s North Carolina operations $15,000,000 eHealth Acquirer Target Price Intuitive Surgical Orpheus Medical N/A Laboratories, MRI and Dialysis Acquirer Target Price P4... Read More »
Orthofix Medical Adds the Fitbone Limb Lengthening System
Orthofix Medical Inc. (NASDAQ: OFIX), a global medical device company focused on musculoskeletal healing products, extended its product line with a deal for the Fitbone limb lengthening system. Privately held Wittenstein SE, based in Igersheim, Germany, will get $18 million in cash and a manufacturing supply contract. The Fitbone intramedullary lengthening system is designed to lengthen femur and tibia bones. More than 3,500 cases in 15 countries have been performed with the technology. This transaction brings other potential applications of the technology, which are in preliminary development, including the Fitspine system for early onset scoliosis. Texas-based Orthofix, formerly known as... Read More »
Guardian Pharmacy Buys Long-Term Care Business
Guardian Pharmacy of Jacksonville, a locally owned member of Atlanta-based Guardian Pharmacy Services (GPS), has acquired the long-term care division of Atkinson’s Pharmacy, which offers compound and specialty pharmacy services for the long-term care industry, including an electronic medical records system for clients. Terms of the deal were not disclosed. GPS is one of the nation’s largest long-term care pharmacy companies, with 37 locations in 26 states. Its local-autonomy business model allows local teams to focus on the specialized needs of customers in their communities. Guardian’s corporate support team assists with day-to-day business operations. The Jacksonville... Read More »
HCR ManorCare Offloads Some Assets
HCR ManorCare, the second largest skilled nursing operator in the United States, has sold Heartland Rehabilitation and MileStone Staffing Services to Grant Avenue Capital, a healthcare-focused private equity firm in New York. Terms of the deal were not disclosed. HCR went through a Chapter 11 bankruptcy restructuring in 2018 and was purchased for a total of $3.3 billion by a joint venture between Welltower (NYSE: WELL) and ProMedica, a not-for-profit health system. All the organizations are based in Toledo, Ohio. Welltower owns 80% of the HCR real estate and ProMedica owns 20%. ProMedica owns 100% of HCR’s operating company, for which it paid $470 million in cash and used a $1.15... Read More »
Western Maryland Health Joins UPMC
Western Maryland Health System (WMHS) has officially joined Pittsburgh-based UPMC. Western Maryland operates the Western Maryland Regional Medical Center (200 licensed beds) and serves the residents of Cumberland, Maryland and surrounding counties in Maryland, Pennsylvania and West Virginia. The deal culminates a relationship between the organizations that began in 2018 with a clinical affiliation. In March 2019, both boards signed a non-binding letter of intent to negotiate an affiliation agreement. The merger was finalized on February 1 and the system was renamed UPMC Western Maryland. The board of UPMC Western Maryland consists of 12 directors, with 8 appointed by the current WMHS board... Read More »
Hot Healthcare Sectors for Investment, Growth & Consolidation in 2020
Every year, starting in November, the crystal balls come out and the prognostications begin. What will the new year bring? Who or what will make out better and who or what will not? We talked with Gary Herschman, a member of Epstein Becker Green’s Healthcare and Life Sciences practice, about the healthcare sectors he and his firm are watching in 2020. Here are their predictions for 2020. Health Care M&A: What do you see as the biggest themes in the healthcare industry this year? There are a lot of moving parts, from the discovery of new drugs to the shifting attention to post-acute care. Gary Herschman: We see three key “drivers” of health industry transformation that are already... Read More »Schedule a demo
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