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Hospital Deals Picked up in Q4:18
Mergers and acquisitions in the Hospital sector have risen steadily since a pronounced drop in the second quarter of 2018. The fourth quarter ended with 20 deals, up 18% quarter over quarter, but down 20% year over year. The 20 deals made up 25% of the 79 deals announced in the previous 12 months. Community Health Systems, which has divested 43 underperforming facilities or ones in non-core markets in the past two years, sold seven hospitals in the fourth quarter of 2018. Four were standalone facilities throughout South Carolina, two were part of the Mary Black Health System that is also in South Carolina and the last was in Salem, New Jersey. The selling will continue in 2019, as CHS CEO... Read More »
Private Equity Spent Big in Health Care in Q4:18
Financial buyers, which include real estate investment trusts (REITs) and private equity firms, are not dominant players in the health care M&A market, although a few REIT deals have popped up in the Behavioral Health Care and Hospital sectors in recent years. But they have been very active. Valuations in several of the services sectors have kept many middle-market private equity firms on the side lines, as auctions may now include non-healthcare companies like Amazon, Best Buy and Walmart. More often, strategic buyers outspend or even pre-empt an auction. Financial buyers are bullish on the healthcare market. In the fourth quarter, they accounted for 24% of the deal volume, with 120... Read More »
Health Care M&A Deals, Week Ending January 18, 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, in the quarterly report. 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 MEDIAN 2 addiction treatment clinics in Germany N/A Biotechnology Acquirer Target Price Apricus Biosciences, Inc. Seelos Therapeutics, Inc. N/A Celgene Corporation License to cell therapies N/A eHealth Acquirer Target Price PerfectServe... Read More »
British Columbia, Home of Digital Health Deals
British Columbia is probably not tops on your list of places that feature health care deals. You’d be right, of course. American states like California, Massachusetts and Texas routinely weigh in with the most transactions per month. January 2019 is different, however, in the digital health sector. Two transactions in the eHealth sector were announced in the first three weeks of the month. One even disclosed a price, which is another surprise. NerdEMR Services Ltd., based in North Vancouver, was acquired by WELL Health Technologies (TSX.V: WELL), formerly known as Wellness Lifestyles Inc. for $2.55 million. WELL owns and operates a portfolio of primary healthcare facilities. On a... Read More »
Home Health & Hospice Deals Kick Off 2019
The Home Health & Hospice sector is predicted to see a great deal more mergers and acquisitions in 2019 than it has in recent years. Bullish industry watchers cite the growing momentum behind value-based health care delivered in lower-cost settings as just one tailwind that is expected to boost the sector. This sector closed out 2018 with 82 deals in our database, the best year for M&A since 2014, when 81 deals were made public. Four deals are already on the books, all announced in the first week of the new year. Three are from private equity sponsors or their platform companies. One deal echoed a growing trend of joint ventures between not-for-profit health systems and for-profit... Read More »
One Less Healthcare REIT to Track
MedEquities Realty Trust (NYSE: MRT) will be acquired by Omega Healthcare Investors (NYSE: OHI) for nearly $900 million. The deal was announced on January 2, 2019 and is expected to close in the first half of the year. The target is a self-managed and self-administered real estate investment trust (REIT) that invests in healthcare properties within the acute, post-acute, skilled nursing and behavioral health sectors. It owns 34 facilities in seven states with 2,755 beds run by 10 different operators. About 75% of the beds are skilled nursing with some assisted living, and the remainder include LTACs, IRFs, behavioral health facilities and a medical office building. Omega Healthcare... Read More »
TA Associates Climbs on the Autism Bandwagon
Autism disorders are big business these days, as private equity firms flock to the subsector. More than 40 deals targeting all manner of autism services have been announced since the beginning of 2014. Of those, 17 were direct investments by firms such as Frazier Healthcare Partners (August 2018) and Pharos Capital Group (November 2018) and 14 were follow-on deals. The latest to join the parade is TA Associates, which just announced its acquisition of Behavioral Health Works (BHW) in Anaheim, California. Like many other autism services providers, BHW specializes in Applied Behavioral Analysis (ABA) therapy and ancillary services for children with autism spectrum disorder and related... Read More »
RiverGlade Capital Buys Kids Care Dental & Orthodontics
After a six-year partnership, Sterling Partners is selling Kids Care Dental & Orthodontics, a California based multi-site dental practice for children and adolescents. The buyer happens to be RiverGlade Capital, a private equity firm founded in 2017 by Danny Rosenberg and Garrick Rice, two former executives at Sterling Partners. No financial terms were disclosed. Founded in 2002, Kids Care has a significant presence in Northern California. Kids Care Dental is the market-share leader with over 150,000 patient visits per year and a growing team of nearly 300 clinical and non-clinical practice-based staff. It has 29 facilities in California and 43 practicing dentists. This deal adds to a... Read More »
Health Care M&A Deals, Week Ending January 11, 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, in the quarterly report. 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 Eli Lilly and Company Loxo Oncology, Inc. $8,000,000,000 Knight Therapeutics Inc. Exclusive rights to commercialize Nerlynx $7,200,000 eHealth Acquirer Target Price Medici Chiron Health N/A ZOLL Medical Corporation Payor... Read More »Schedule a demo
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