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Health Care M&A Deals, March 27, 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. 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 service alerts you to developments in all the key segments of the health care service and technology markets. Biotechnology Acquirer... Read More »
Caregiver Expands With Four New Providers
The spread of Covid-19 has forced most healthcare companies to hit pause on their M&A activity, especially those in the services sectors. Hospitals are overwhelmed and the Centers for Medicare & Medicaid Services issued guidelines that all elective surgeries, non-essential medical, surgical and dental procedures be delayed, which are likely to stifle physician groups’ revenue flow. However, some companies have proved to be resilient in the pandemic. Caregiver Inc., a behavioral healthcare company, is one example. It provides services to adults with intellectual and developmental disabilities (IDD). Since 2015, Caregiver has expanded rapidly, building its network across... Read More »
Health Care M&A Deals, March 20, 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. 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 service alerts you to developments in all the key segments of the health care service and technology markets. Biotechnology ... Read More »
Prisma Health Picks Up Three LifePoint Hospitals
Not-for-profit Prisma Health, based in Greenville, South Carolina, has stayed out of the news since it was formed by the merger of Greenville Health System and Palmetto Health. That changed in March, with the announcement that it was adding three hospitals operated by LifePoint Health. Financial terms of the asset purchase agreement weren’t disclosed. Prisma Health operates 18 hospitals around the state, with 2,984 beds and more than 300 physician practice sites. The merger between Greenville Health and Palmetto Health was first announced in 2017, as several mid-sized health systems began to form larger regional systems. The merger became official in January 2019. LifePoint Health,... Read More »
Thermo Fisher and QIAGEN Merge in Multi-Billion Deal
After a year hiatus from the acquisition trail, Thermo Fisher Scientific Inc. (NYSE: TMO) is back with a big deal. Earlier in March, the medical diagnostics company announced it was acquiring QIAGEN N.V. (NYSE: QGEN) for $11.5 billion, or 23.8x EBITDA and 7.5x revenue. QIAGEN provides sample-to-insight solutions that transform biological materials into molecular insights worldwide. It has more than 500,000 customers around the world in molecular diagnostics and life sciences. The terms include $43.64 per share in cash, a 23% premium to QIAGEN’s March 2, 2020 closing price, plus assumption of approximately $1.4 billion of net debt. This acquisition expands Thermo Fisher’s... Read More »
Home Health & Hospice Deal Flow Is Slow but Steady
Although Covid-19 has brought the U.S. economy to a halt over the past few weeks, there is still some healthcare M&A activity to be found, even in the Home Health & Hospice sector. So far for the first quarter, 16 deals have been made public, compared with 21 for Q1: 2019, according to our Deal Search Online database. It’s a 27% drop, but that’s a difference of five deals in extraordinarily different market conditions. We’ll take what we can get. Earlier in March, Charter Health Care Group, a portfolio company of Pharos Capital Group, acquired two hospice service providers from VeraCare Hospice, St. Luke’s Home Hospice LLC and Arizona Select Hospice LLC. St.... Read More »
Sanders Trust Buys Cobalt Rehab Hospital
Curahealth, a portfolio company of Nautic Partners, is selling the real estate assets of a rehabilitation hospital in New Orleans operated by its subsidiary, Cobalt Rehabilitation. Birmingham, Alabama-based The Sanders Trust will pay $29 million for the 60-bed inpatient rehab facility. The Cobalt Rehabilitation Hospital is a Class A, 65,345-square-foot facility located less than two miles from the new Louisiana State University and Veteran Administration hospitals that have approximately 1,000 acute care beds. Built in 2016, it serves a wide range of physical rehabilitation patients with conditions such as stroke, trauma, hip fracture, brain injuries, concussions, orthopedic and... Read More »
DXC Technology Divests State & Local HHS Business
When Mike Salvino took over as CEO of DXC Technology (NYSE: DXC) in September 2019, he announced during his first earnings call that the company was planning strategic alternatives, including the possible divesture of three of its non-core assets, which made up roughly 25% of the company’s revenue. One of those segments included its U.S. state and local health and human services business (HHS business), which DXC managed to divest last week to Veritas Capital Management LLC for $5 billion in cash. DXC’s HHS business is an end-to-end provider of technology solutions critical to the administration and operations of health programs. The business facilitates performance... Read More »
Blue Sprig Pediatrics Acquires ABA Providers
BlueSprig Pediatrics, with the backing of KKR & Co. (NYSE: KKR), has been an active player in the M&A field. Since BlueSprig was formed in October 2018, it has reported five behavioral health care transactions in three different states, according to our Deal Search Online database. Now it has a foothold in Florida. Last week the company announced its acquisition of Florida Autism Center and Fusion Autism Center for $120 million. Collectively called FAC, the group provides applied behavior analysis (ABA) therapy services treating children with autism spectrum disorder. This partnership will create a top-five national provider and the leading provider in the southern United States.... Read More »Schedule a demo
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