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Optum Adds Seattle’s Polyclinic to Its Doctor Roster
UnitedHealth Group’s (NYSE: UNH) Optum division is a key growth driver for the managed care giant, and M&A is a primary reason. During an investor day meeting in New York on November 27, UNH CEO David Wichmann mentioned the company’s acquisition of The Polyclinic, a 240-doctor group in and around Seattle, Washington. Of course Mr. Wichmann didn’t disclose a price. The 101-year-old practice began looking for a partner after developing a strategic plan that proved too costly even for a group of 240 physicians with 14 locations. The deal with Optum will allow it retain control as a physician-led practice and it will continue to operate under its brand name. The practice... Read More »
Medtronic Adds AI Component to its Diabetes Group
It’s been some time since Medtronic plc (NYSE: MDT) added outside capabilities to its Diabetes Group. Since 2015, in fact, when it bought Diabeter, an independent clinic and research center in Rotterdam. Now the medical device maker has added Nutrino Health, an Israeli digital health company focused on nutrition. It provides nutrition-related data services, analytics and technologies using artificial intelligence-driven personal assessments. It also has been developing algorithms to predict glycemic responses to food. In April 2018, Nutrino raised $8 million in a Series A round from Pereg Ventures, Nielsen Ventures, Gandyr Group and a number of business angels. Financial terms of its... Read More »
Health Care M&A Deals, Week Ending November 21, 2018
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 Crossroads Holding, LLC EHC Medical Offices N/A Biotechnology Acquirer Target Price Bioblast Pharma Ltd. Enlivex Therapeutics Ltd. N/A eHealth Acquirer Target Price Cure.fit Seraniti N/A Medical Devices Acquirer Target Price Colfax... Read More »
ScribeAmerica Inks Another Medical Scribe Deal
ScribeAmerica, a subsidiary of HealthChannels, announced its acquisition of PhysAssist Medical Scribes on November 1, bringing its total number of scribes close to 19,000. In 2008, PhysAssist had two corporate employees and 35 scribes. A year after TeamHealth Holdings acquired it in October 2014 with minority investors Vesey Street Capital Partners and Chicago Growth Partners, it had 2,500 professionals in 30 states. It now has approximately 3,500 scribes in 36 states. Moody’s Investors Service rated the $160 million debt-financed acquisition as credit negative, because it would increase the company’s financial leverage and elevate integration risk. The transaction, including... Read More »
BayMark Health Adds Two More Treatment Programs
BayMark Health Services, the opioid treatment platform formed by Webster Capital, added two more organizations to its roster in November. The deals bring its 2018 acquisition total to five. In all of 2017, the company made six deals public, so we’re expecting at least one more by the end of this year. St. Louis-based SpecialCare Hospital Management was the first target acquired in November. The comapny works with 46 acute care hospitals in 13 states to provide specialized inpatient stabilization and withdrawal management services for patients with opioid addiction. The company will retain its name and much of its staff. BayMark’s second deal took it into new territory.... Read More »
PE Firms Target Healthcare Staffing Services
Who says good help is hard to find? Just about every healthcare provider in the United States, it seems. The growing shortage of doctors and nurses, together with the recent near-record low U.S. unemployment rates, has brought the healthcare staffing services segment into sharp focus for investors. Through mid-November, 18 deals targeting these companies have been announced in 2018, compared with 16 in 2017 and 10 in all of 2016. Five of this year’s deals had private equity firms as acquirers, and five others were made by PE-sponsored firms. The most recent transaction was announced by HNI Healthcare, a portfolio company of Sante Ventures based in Austin, Texas. HNI recruits,... Read More »
Numotion Moves to AEA Investors
Audax Private Equity and LLR Partners have exited their jointly held rehab company, Numotion, which has been a major player in consolidating the complex rehabilitation technology (CRT) market. AEA Investors is the new owner. The target provides complex rehabilitation technology (CRT), including manual and power wheelchairs designed to meet the unique medical and functional needs of individuals with significant disabilities and medical conditions. Numotion was formed in January 2013 through the merger of United Seating Mobility and ATG Rehab. Audax Private Equity acquired ATG Rehab in January 2011, and LLR Partners acquired United Seating and Mobility in February 2011. Since then, the... Read More »
Health Care M&A Deals, Week Ending November 16, 2018
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 Catapult Learning, Inc. Capital Education Group N/A WindRose Health Investors, LLC Traditions Behavioral Health N/A Biotechnology Acquirer Target Price United Therapeutics Corp. Global license to ralinepag $800,000,000 eHealth Acquirer... Read More »
Swedish Orphan Drug Maker Moves into the U.S.
Ready or not, here comes Swedish Orphan Biovitrum AB (STO: SOBI). The company recently paid $1.5 billion to AstraZeneca (NYSE: AZN) in a double-sided deal. First, it’s acquiring the perpetual U.S. rights to Synagis (palivizumab), which prevents serious lower respiratory tract infections (LRTI) caused by FSV in high-risk infants. The other side of the deal gives SOBI participation in 50% of the future earnings of AstraZeneca’s drug candidate MEDI8897, which it has been jointly developing with Sanofi Pasteur (NYSE: SNY) since March 2017. MEDI8897 is a follow-on candidate to Synagis and a monoclonal antibody (mAb) being investigated for the prevention of LRTI caused by RSV. Sobi... Read More »Schedule a demo
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