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It’s Been a Busy Summer for Addus HomeCare
Addus HomeCare Corporation (NASDAQ: ADUS) spent the summer on the acquisition trail, announcing two deals for three targets and the completion of a previously announced transaction. On August 1st, the company acquired Alliance Home Health Care, LLC and its affiliate, House Calls of New Mexico, LLC, both located in New Mexico with servicees across the state. The companies’ combined annual revenues are approximately $19 million, with 60% derived from hospice care and 20% each from personal care and home health care services. The deal expands its reach in New Mexico, following its 2017 acquisition of Options Home Care for $340 million and its 2013 deal for Coordinated Home Health Care,... Read More »
PE Firms Exit North American Dental Group
Abry Partners and The Riverside Company are selling North American Dental Group (NADG), concluding a four-year investment in the dental service organization (DSO). NADG operates in the United States, and its network includes more than 200 dental practices in 11 states and 23 regional markets. The buyer is Jacobs Holding AG, a global professional investment group that supports the Jacobs Foundation, one of the world’s leading charitable foundations. No financial terms were disclosed. Jacobs Holding is no stranger to the dental market. The company already owns Colosseum Dental Group, a dental care provider, and the addition of NADG will create the first transatlantic dental group. NADG and... Read More »
Celgene Sells Otezla to Advance its Sale to Bristol-Myers Squibb
Amgen (NASDAQ: AMGN) has agreed to take Otezla (apremilast) off of Celgene Corporation’s (NASDAQ: CELG) hands. The Federal Trade Commission ruled the drug had to be divested due to concerns over competition with Bristol-Myers Squibb’s (NYSE: BMY) pipeline. Bristol-Myers announced it was buying Celgene last January for $74 billion. In this deal, Amgen gains the worldwide rights to Otezla, the only oral, non-biologic treatment for psoriasis and psoriatic arthritis, and certain related assets and liabilities. Sales of Otezla in 2018 were $1.6 billion and the drug has intellectual property exclusivity in the United States at least through 2028. Amgen will pay $13.4 billion in cash,... Read More »
Health Care M&A Deals, Week Ending August 23, 2019
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 Innovent Biologics, Inc. License to OXM3 N/A eHealth Acquirer Target Price Mateon Therapeutics, Inc. PointR Data Inc. $15,000,000 Psychiatric Medical Care Integrated TeleHealth Partners N/A Hospitals Acquirer Target Price Alleghany... Read More »
Managed Care Company GoHealth Acquired by Centerbridge Partners
Medicare Advantage programs and ancillaries are bringing in big bucks and new buyers. On August 19, Centerbridge Partners, L.P. announced its acquisition of GoHealth, LLC for a reported $1.4 billion from Norwest Equity Partners, the second-largest managed care deal in 2019, so far. The company is a leading provider of Medical Advantage products in the direct-to-consumer channel. Its platform combines technology, data science, and proprietary algorithms to match consumers with the best healthcare policy and carriers in the Medicare, Individual & Family and Small Group markets. Centerbridge and GoHealth broke off negotiations earlier in August over price, according to reports in... Read More »
Despite Reimbursement Uncertainty, Home Health & Hospice Deals Ramp Up
The Home Health & Hospice sector hit a new high in deal volume in 2018, despite headwinds in advance of new reimbursement models and regulations being introduced by the Center for Medicare and Medicaid Services in 2019 and 2020. The strong acquisition interest in the home health and hospice business comes despite the reality that for many agencies, 90% or more of their revenues are derived from government sources, primarily Medicare. As all healthcare providers know, the only certainty is that the level of government reimbursement will change, and change is coming again effective January 1, 2020 with the new Patient Driven Groupings Model (PDGM). One of the “problems” has been that... Read More »
Healthcare Staffing Firms in Steady Demand
As healthcare companies and providers across the industry wrestle with staffing shortages and retention, staffing firms are looking to fill some of the gaps, thus driving M&A activity. According to our Deal Search Online database, there have been nine acquisitions focused on healthcare staffing firms so far this year, and that number will most likely grow. If a price had been disclosed, Medical Solutions’ takeover of C&A Industries, Inc. this month would surely be among the largest deals in this segment. Medical Solutions, a portfolio company of TPG Growth, specializes in placing registered nurses in temporary travel assignments throughout the country. The... Read More »
New Record in Healthcare Services M&A
The record keeps growing. We reported in March that the health care services reported 1,227 deals in 2018. When we updated the data for our new Hospital M&A Acquisition Report, 8th Edition, deal volume moved upward. Source: HealthCareMandA.com, August 2019 A record 1,232 services deals were announced, which is 19% higher than the previous year and 235% higher than in 2009. Services transactions accounted for 65% of 2018’s total deal volume, slightly higher than the typical range between 58% and 63%. The trend was even stronger in the first half of 2019. Through June 30, a total of 835 deals are on the books, and the services sectors make up 67%. Spending in healthcare services has been... Read More »
Patient Engagement Firm MyDirectHealth Acquired by Experian
Experian Health, the healthcare arm of Experian (LSE: EXPN) announced earlier this month that it acquired MyDirectHealth, a digital health firm. No financial terms were disclosed. Companies like Experian Health that collaborate with hospitals and provide data support seem to be buying companies much like MyDirectHealth pretty frequently. MyDirectHealth develops digital care coordination solutions to help patients find the appropriate care provider. The company’s platform also offers patient engagement and outreach analytics, which Experian hopes to combine with its analytics platform to streamline healthcare administration. Patient engagement platforms are definitely trending,... Read More »Schedule a demo
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