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U.S. Hospital REIT Deals Roar Back in 2019
REIT deals are back in the Hospital sector, after a two-year lull. Through mid-July, six transactions targeting U.S. hospitals were announced by real estate investment trusts (REITs), a total that equals the annual REIT deal volume of 2013, 2015 and 2016. Three of this year’s U.S. deals were announced in July 2019. Medical Properties Trust (NYSE: MPW) made a splash, announcing a combined $1.75 billion invesment in 24 hospital facilities through three separate transactions. The largest of the three, at $1.55 billion, was for 14 acute care hospitals and two behavioral health hospitals (2,383 beds) owned by for-profit Prospect Medical Holdings in California, Connecticut and... Read More »
PE-Backed Tricity Pain Adds Two Acquisitions in Texas
Tricity Pain Associates is on the move in Texas. It’s announced two acquisitions in the first half of July, and management is looking for more. Tricity offers pain management services for spinal stenosis, herniated disc, neck pain and lower back pain. It was acquired by Spindletop Capital Management in May 2018, along with another pain management practice, Interventional Pain Management. That acquisition was the first in a series by Spindletop to develop a premier national provider of pain management services, under the brand name Spindletop Pain Management Holdings. The companies (collectively TPA) provide integrated pain management care, ambulatory surgery centers and ancillary... Read More »
Ante Up: Private Equity Firms Bet Big on Physician Medical Groups
In the first half of 2019, there were 72 physician medical group deals announced, and approximately 63% of those involved private equity firms as the buyer, according to our Deal Search Online database. And some were major deals too. Early in June, we reported that West Street Capital Partners VII, the private equity arm of Goldman Sachs (NYSE: GS), acquired Capital Vision Services LP for $2.7 billion from Altas Partners LP and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ). If Capital Vision Services LP doesn’t ring a bell, that’s because they operate under the trade name MyEyeDr. The target company employs approximately 560 optometrists and... Read More »
Health Care M&A Deals, Week Ending July 12, 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 Jazz Pharmaceuticals plc Preclinical Pan-RAF inhibitor program $3,500,000 Altimmune Inc. Spitfire Pharma, Inc. $5,000,000 eHealth Acquirer Target Price iMedX, Inc. Prevalent, Inc. and Axcension, Inc. N/A Waystar Digitize.AI N/A Rhapsody... Read More »
Q2:19 Posts Strong Healthcare Deal Volume & Dollars
Second quarter deal volume was robust, based on preliminary results. Some 424 deals are on the books for the quarter, representing an 8% increase over the first quarter (394 deals). It’s still a hard comparison with Q2:18 numbers, which had 484 announcements, 12% higher than this year’s period. Spending remained high in the second quarter, at $138.5 billion, thanks to AbbVie’s (NYSE: ABBV) $87 billion deal for Allergan (NYSE: AGN) announced in late June. Coincidentally, even higher totals were posted in the first quarter and in the second quarter of 2018, also due to mega-deals. In this year’s first quarter, Bristol-Myers Squibb’s (NYSE: BMY) $74 billion deal for Celgene (NASDAQ: CELG) and... Read More »
June Healthcare M&A Busted Out All Over
Healthcare mergers and acquisitions turned in another strong performance in June, on the heels of a busy month in May. Preliminary data shows 138 transactions announced, just 5% below the previous month’s 146 and 7% behind the same month in 2018. The Long-Term Care sector led the way, as usual, with a 23% share of the month’s total deal volume. With 32 deals reported, deal activity wasn’t as strong as it was in May (42 deals), but stayed on par with the 31 deals announced the year before. Two sectors posted big gains, year over year. The Laboratories, MRI & Dialysis sector saw a 600% increase, albeit on only seven deals. The Medical Device sector realized a 56% jump over last year’s... Read More »Digital Health Sector M&A Activity Stays Strong in June
June was a busy month for the digital health sector. Our totals so far are 16 deals, but that number may increase as we find some deals disclosed in quarterly reports. It doesn’t quite reach the count from June 2018 (25 deals), but 2018 was so robust in deal volume it’s a hard comparison to make. In 2017, for instance, there were only 13 deals reported. Dollar volume, on the other hand, is difficult to compare, mainly because of the headline-worthy transaction below. Dassault Systèmes (Paris: DSY) acquired Medidata Solutions, Inc. (NASDAQ: MDSO) for $5.8 billion, the second largest digital health transaction in our database. This acquisition increases Dassault’s services for... Read More »
HCA Healthcare Buys Network of Urgent Care Centers in Texas
HCA Healthcare (NYSE: HCA) announced last week it purchased 24 MedSpring urgent care centers in Texas from Fresenius Medical Care (NYSE: FMS). MedSpring centers offer treatment for a wide range of common injuries and illnesses. The 24 clinics are dispersed throughout major cities like Austin, Dallas and Houston. Fresenius acquired MedSpring Urgent Care Centers in 2014 for an undisclosed price. At the time, the company operated 14 centers, so this most recent deal shows significant growth in the target company. HCA Healthcare now operates a total of 160 centers across the country. The MedSpring centers will be rebranded to CareNow Urgent Care and operated by HCA. This deal comes on the... Read More »
U.S. Hospital M&A Trends, 1H 2019
It’s been a slow year for hospital mergers and acquisitions in the United States. In the first half of 2019, just 29 transactions have reached the definitive agreement stage, or actually closed. In the first half of 2018, 38 transactions made that cut. The targets are much smaller in 2019, too. A total of 4,991 beds changed hands in the first six months of this year, compared with 9,327 beds in the same period in 2018. Fourteen not-for-profit hospitals or systems (2,380 beds combined) were targets in 1H:19, and three of them were critical access hospitals which are regulated to just 25 beds. That’s not a stand-out trend, considering six critical access hospitals found new... Read More »Schedule a demo
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