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Retina Consultants of America Formed through PE-Backed Merger
And in one fell swoop, Webster Equity Partners has formed a major physician group. The private equity firm announced in early March that it is acquiring and merging Retina Consultants of Houston, Retina Group of Florida, Long Island Vitreoretinal Consultants, and Retinal Consultants Serving Northern California to form Retina Consultants of America (RCA). The platform has a $350 million investment to build on and will have EBITDA of $80 million and roughly 50 physicians, according to sources cited in PEHub. But tucked away in that price is a fifth transaction that we should hear about before the end of March. Further, Webster and RCA are planning to expand rapidly, adding more practices in... Read More »
Health Care M&A Deals, March 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 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. eHealth Acquirer Target Price The... Read More »
Coronavirus Drags Down February M&A
Of course, we have to suggest that February’s abysmal deal volume—just 96 reported so far—may be the result of fears about the coronavirus. The reality is that the stock markets began swooning in late January, but managed to post a few bounce-back days here and there. They really didn’t tank for consecutive days until February 20, when the virus claimed its first U.S. victims and was spreading through communities. And with no sign of a coronavirus containment, it’s hard to say when the alarm will calm. We attended a few healthcare-related meetings in a couple of major cities during the final weeks of February. Attendance was high at every event. Only now are we hearing that... Read More »
The State of the 2020 Hospital Market
The hospital market was more active in 2019 than it has been since 2015, with 99 deals reaching the definitive agreement stage or closed. In 2015, 100 deals were announced. In the years in between, deal volume dropped from 89 in 2016 to 81 in 2018. Many not-for-profit systems find themselves on firmer financial ground and are negotiating deals from positions of strength, not fear. But the healthcare landscape continues to shift, and the role of the hospital is changing with it. In 2020, many hospitals are still the life-blood of their communities, often as the largest employer. But their role as the central hub of all healthcare delivery in the community is lessening, and fast. “Ten to 15... Read More »
Pharmaceutical Firms Are Cleaning House to Profit
There’s no doubt it was an unusually slow February in the healthcare M&A market. Historically, the middle of Q1 tends to dip and then rebound by March, but with less than 100 deals on the books, the rapid spread of the coronavirus, Covid-19, seems to have undercut investor confidence, both big and small. And although some biotech stocks have soared following announcements of their coronavirus treatment efforts, pharmaceutical firms have been relatively quiet. Aside from some players like Gilead (NASDAQ:GILD), which just announced a $4.9 billion acquisition of Forty Seven, Inc. (NASDAQ: FTSV) and whose product remdesivir is seen a hope as a potential treatment for Covid-19, no... Read More »
Physician Group Merger Creates Florida’s Largest Orthopaedic Provider
February was a modest month for Physician Medical Group deals. With seven on the books thus far (we expect more to pop up), it beat February 2019’s total by just one deal. However, M&A activity seems to be gaining steam in March, with a number of deals already announced, including two substantial physician groups down in Florida. This past week the Florida Orthopaedic Institute, backed and supported by MD Healthcare Partners, merged with OrthoCare Florida, a physician group with thirteen practices across Florida. The combined company will become the largest orthopedic provider in the state and the 13th largest in the country. The group will also include two orthopedic urgent care... Read More »
Health Care M&A Deals, March 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 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 Target Price Gilead... Read More »
Genentech Bets on Bicycle-Based Therapies
Genentech, a subsidiary of the Roche Group (OTCMKTS: RHHBY), is betting big on a collaboration effort with Bicycle Therapeutics plc (NASDAQ: BCYC). The exclusive collaboration agreement between the two biotechnology companies hopes to develop and commercialize Bicycle-based immuno-oncology therapies against multiple targets. Genetech will pay $30 million upfront to Bicycle Therapeutics with a potential $1.7 billion in milestone payments. You might have guessed this based on the name, but Bicycles are Bicycle Therapeutics’ trademark platform. They are fully synthetic short peptides constrained with small-molecule scaffolds to form two loops that stabilize their structural geometry.... Read More »
Banner Health Adds Two Physician Groups
Arizona’s Banner Health continues to beef up its physician roster. In February, the not-for-profit health system added Desert Vascular Specialists and The Orthopedic Clinic Association (TOCA). Banner Health owns and operates 28 acute-care hospitals in six states, as well as the Banner Health Network, Banner University Medicine, academic and employed physician groups, long-term care centers, outpatient surgery centers and an array of other services. Desert Vascular Specialists provides diagnostic and personal treatment strategies for its patients using both traditional vascular surgical and lesser invasive endovascular interventions. Desert Vascular Specialists and its two surgeons... Read More »Schedule a demo
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