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Health Care M&A Deals, April 24, 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 Deal Search Online database, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. This week’s top deals include Takeda Pharmaceutical Co. Ltd. ‘s divesture of its European product portfolio for $575 million and Otsuka Pharmaceutical Co., Ltd. license agreement for Nexletol and Nexlizet in Japan with Esperion Therapeutics Inc. for $60 million. To subscribe to our Health Care M&A deals chart and more, visit our membership site. HealthCareMandA.com is... Read More »
TPG Invests in LifeStance Health
The need for behavioral health care has only been heightened by the COVID-19 pandemic we are now experiencing. And TPG Capital is moving deeper into the space with its majority investment in LifeStance Health, a leading provider of outpatient behavioral health services. Existing investors Summit Partners and Silversmith Capital Partners remain as minority investors. TPG’s investment is reported to be $1.2 billion, according to PE Hub. Founded in 2017, LifeStance offers a range of outpatient behavioral health services, delivered in-person and through telemedicine. The company focuses on creating and expanding low-cost outpatient access for patients seeking care for behavioral health... Read More »
Biofourmis Gets into Oncology with Gaido Health
Biofourmis, a privately held global digital therapeutics company, has moved into the oncology arena with its acquisition of Gaido Health from Takeda Pharmaceuticals (NYSE: TAK). Gaido Health is also a digital therapeutics company but exclusively focused on the oncology market. It was part of Takeda Digital Ventures, Takeda’s corporate technology investment, and incubation arm. Financial terms were not disclosed. Boston-based Biofourmis and its Biovitals platform use artificial intelligence (AI) to offer personalized, predictive care for patients. It acquired Swiss wearables firm Biovation AG in November 2019 for an undisclosed price. For Biofourmis, the Gaido Health acquisition seeks... Read More »
BRC Recovery Gets Two New PE Owners
Substance abuse treatment is still attracting investors’ attention, even in the COVID-19 pandemic. In April, BRC Recovery Family of Programs, an addiction services provider, received a joint investment from Veronis Suhler Stevenson (VSS) and NewSpring Health Capital. Terms of the deal were not disclosed. The joint investment creates a new platform for addiction treatment, known as BRC Healthcare. The new entity serves as the holding company for the BRC Recovery Family of Programs and future acquisitions. BRC Healthcare provides individualized, gender-specific treatments to adults aged 17 and over with substance use disorders such as alcoholism, drug dependence, and other addiction... Read More »
M&A Slows for Physician Medical Groups
The Physician Medical Group sector has posted blazing merger and acquisition activity in recent years. Annual deal volume in the sector hit 207 deals in 2017, followed by 253 deals in 2018 and 241 deals in 2019. Enter COVID-19 in 2020. Social distancing is the new norm. Hospitals have been forced to postpone elective surgeries for the foreseeable future, so they and their physician groups are losing much-needed revenue as COVID-19 cases flood emergency rooms and ICUs. Needless to say, many physician practices have had to postpone treatment and delay revenue as patients stay home. All around the country, practices are struggling to stay afloat. Needless to say, Physician Medical Group deals... Read More »
Health Care M&A Deals, April 17, 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 Deal Search Online database, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. This week’s top deals include TPG Capital’s acquisition of LifeStance Health, Inc. for $1.2 billion and Medopad’s purchase of BioBeats for $10 million. To subscribe to our Health Care M&A deals chart and more, visit our membership site. HealthCareMandA.com is devoted to healthcare merger and acquisition data for the serious analyst and investor. Every day, this... Read More »
Adventist Invests in Blue Zones
Adventist Health has acquired Blue Zones, a community-based population health management company that employs a systemic and environmental approach to improving the health of entire cities and communities. The organization’s work in more than 50 communities across America has been credited with double-digit drops in obesity, smoking and Body Mass Index, achieving millions of dollars of savings in healthcare costs. With the new coronavirus pandemic, the deal highlights the attention now focused on health care (or lack of it) in whole communities. The target, based in Minneapolis, Minnesota, infuses healthy choices, enhances connections, instills purpose and fuels hope to impact... Read More »
Sold, Closed, Resold: The Verity Health Saga
It’s hard enough to go through Chapter 11 bankruptcy proceedings once. Verity Health System, which has had a string of for-profit owners since it was sold by the Daughters of Charity Health System to BlueMountain Capital Management in 2016, is on its second round after a deal fell through last December. It’s just one of several distressed healthcare services stories, sad to say. The latest news came the week ending April 10, 2020, as a federal bankruptcy court judge approved the sale of St. Francis Medical Center (344 beds) in Lynnwood, California to Prime Healthcare Services for $262 million and the sale of St. Vincent Medical Center in Los Angeles for $135 million. The buyer... Read More »
Kootenai Health Adds Critical Access Hospitals
Kootenai Health, a not-for-profit health system based in Coeur d’Alene in north-central Idaho, has taken on two critical access hospitals that were part of Essentia Health in Duluth, Minnesota. Kootenai provides comprehensive medical services to patients in northern Idaho and throughout the inland Northwest. Its main campus includes a 330-bed community-owned hospital. On April 1, ownership of two critical access hospitals, Clearwater Valley Hospital and Clinics (23 beds) in Orofino and St. Mary’s Hospital and Clinics (25 beds) in Cottonwood, transferred to Kootenai. Clearwater Valley has two clinics in Orofino and Kooskia, one rural health clinic in Pierce and one physical... Read More »Schedule a demo
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