Warning: Undefined variable $count in /home/seniorca/public_html/wp-content/themes/divi-news-child-healthcare/index.php on line 40
Warning: Undefined variable $count in /home/seniorca/public_html/wp-content/themes/divi-news-child-healthcare/index.php on line 121
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 »
Premier Acquires Acurity from GNYHA
The Greater New York Hospital Association (GNYHA) announced last week it sold Acurity, Inc., a regional group purchasing organization (GPO) to Premier Inc. (NASDAQ: PINC). The deal also included Nexera, a hospital financial improvement consulting firm. Premier spent $291.5 million for both businesses, comprised of approximately $166.1 million in cash at closing and an additional estimated deferred payments of $125.4 million. A contingent payment of up to $30 million may be made to the GNYHA in FY2025, based on Premier’s achievement of a range of member renewals on terms to be agreed to by Premier and the sellers based on prevailing market conditions in December. Acurity has been a customer... Read More »
Health Care M&A Deals, Week Ending February 7, 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 The Emily Program Eating disorder treatment program N/A eHealth Acquirer Target Price Innoval Global Solutions, LLC Medstat N/A Hospitals Acquirer Target Price UPMC Western Maryland Health System N/A Christus Santa Rosa Health System Central Texas... Read More »
Feeling Distressed? You’re Not Alone
For the past two years, the volume of healthcare deals has soared to new heights. Much of the growth has been powered by financial buyers, private equity firms in particular, piling into the healthcare services sectors. In 2018, a new record for annual deal volume was hit, now standing at 1,917. The services sectors accounted for 65% (1,242 deals), slightly higher than the typical 60% to 62%. Last year’s total deal tally now stands at 1,824 transactions, the second highest total ever recorded, and 70% of that comes from healthcare services deals. Why, then, have Chapter 11 bankruptcy filings among the services sectors spiked along with that activity? Since the second quarter of 2017, the... Read More »
Digital Health Roars out of the Gate
The eHealth sector had a record 2019, with 222 deals now on the books, a roughly 9% increase over 2018’s volume, and $18.3 billion in spending. That momentum has carried over to the first month of 2020, with 19 eHealth deals in January and $1.8 billion in announced spending, according to our Deal Search Online database. January was capped off by Clarivate Analytics plc’s (NYSE: CCC) acquisition of Decision Resources Group (DRG) from Piramal Enterprises Limited (NSE: PEL) The purchase cost Clarivate Analytics $900 million in cash and $50 million in shares. DRG provides analytics and insights, driven by artificial intelligence (AI), to the pharmaceutical, biotechnology and life sciences... Read More »
Fourth Quarter Momentum Carries over to January
It’s a new year, a new decade, and not much has changed in healthcare mergers and acquisitions. January was a strong month for deal flow, which isn’t unusual because deals that didn’t close in December often spill over into the following month, which just happens to launch a new fiscal cycle, for many entities. January 2020 opened with a strong showing for deal volume. At this writing, 132 deal are in our database and we’ll be adding more as earnings reports and other documents come to light. Looking back at December, we now have 168 deals on the books, as more Long-Term Care, Physician Medical Group and other transactions came to light. So the fourth quarter of 2019 finished in grand... Read More »
Aveanna Healthcare Calls Off Maxim Home Health Merger
The Federal Trade Commission has done it again. The agency closed its investigation into the merger of Aveanna Healthcare with Maxim Healthcare’s home health division, announced in February 2019. We’re accustomed to seeing headlines every few months saying the FTC plans to tighten scrutiny of hospital mergers and acquisitions. The anti-trust division has been active in the hospital sector, the majority of announced hospital mergers more often collapse under their own, unique conditions. Just last year, Care New England ended merger talks with Lifespan and Brown University, after seeing its merger with Boston’s Partners HealthCare shot down by Rhode Island’s... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
