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Addus HomeCare Moves into New Mexico Market
Addus HomeCare (NASDAQ: ADUS) has boosted its presence in the southwestern United States with its $40 million acquisition of Ambercare Corporation, a privately held home care company based in Albuquerque, New Mexico. Ambercare provides personal care, hospice and home health services to roughly 2,600 individuals through its 15 locations in New Mexico. It generated revenue of approximately $57 million in 2017. Addus HomeCare provides home- and community-based services to older adults and younger disabled persons. On a trailing 12-month basis it generated revenue of $416.3 million, EBITDA of $34.1 million and net income of $17.8 million. The acquisition of Ambercare closely follows... Read More »
Maryvale Hospital Opens Again in Phoenix
Tenet Healthcare (NYSE: THC) divested five hospitals in 2017, collecting at least $895 million on two of the deals. The goal is to pay down its $14.9 billion in debt (as of the most recent quarter). What hasn’t been made as public are the hospitals it is shuttering in various markets. Abrazo Maryvale Hospital, a 228-bed acute care facility in the western part of Phoenix, Arizona, was one of those Tenet closed in December 2017, citing a decline in patient demand. The hospital was run through the Abrazo Community Health Network, and handled about 43,000 emergency room visits annually. The Abrazo network had reduced services at the Maryvale campus in recent years, closing its birthing... Read More »
Health Care M&A Weekly Deals, The Week Ending March 2, 2018
We hope you are enjoying your membership to HealthCareMandA.com. This Health Care M&A Weekly chart below is a selection of transactions announced during the prior week(s). The deals presented here are further elaborated in the monthly newsletter, Health Care M&A News, and in the quarterly report. This information also appears in our online database, Deal Search Online. Visit www.dealsearchonline.com to open a guest account and begin your search. Behavioral Health Care Acquirer Target Price Seven Hills Capital, LLC VersiCare Group N/A eHealth Acquirer Target Price Revint Solutions Naveos N/A Melissa Data IO Informatics, Inc. N/A R1 RCM Inc. Intermedix Corporation $460 million The... Read More »
Thinking of Selling Your Health Care Company to a PE Firm?
If you’re the owner or an investor in small- to mid-market healthcare services company, you’re probably wondering if the time is right to sell or seek growth equity from a private equity firm. We’re hosting a webinar on just that theme, “The Ins and Outs of Selling Your Healthcare Services Company to a Private Equity Firm,” on Thursday, March 8, at 1:00 pm ET. Follow the link to register, and read on for a look at the state of global and domestic private equity markets. Bain Capital just released its 2018 Global Private Equity Report, which painted a fairly rosy picture. Both buyouts and exits posted healthy gains in 2017, and the largest buyout funds ever... Read More »Deal of the Week: R1RCM/Intermedix Corporation
R1 RCM Inc. (NASDAQ: RCM), a provider of revenue cycle management services to healthcare providers, announced its acquisition of Intermedix Corporation, a portfolio company of Thomas H. Lee Partners, on February 26. Intermedix is a global leader in data analytics and cloud-based technology that delivers best-in-class revenue cycle management (RCM), practice management and emergency management solutions. It supports more than 500,000 emergency preparedness and response incidents worldwide and enables more than 15,000 health care providers to focus on patient care. The acquisition by R1 RCM includes Intermedix’s healthcare division, which is comprised of its physician and EMS RCM... Read More »
Health Care M&A Weekly Deals, The Week Ending February 23, 2018
We hope you are enjoying your membership to HealthCareMandA.com. This Health Care M&A Weekly chart below is a selection of transactions announced during the prior week(s). The deals presented here are further elaborated in the monthly newsletter, Health Care M&A News, and in the quarterly report. This information also appears in our online database, Deal Search Online. Visit www.dealsearchonline.com to open a guest account and begin your search. Biotechnology Acquirer Target Price Merck Viralytics Limited $394 million BenevolentAI Cambridge Research Campus N/A Kite Pharma License to zinc finger nuclease technology $150 million eHealth Acquirer Target Price TractManager, Inc.... Read More »
Dermatology Deals Keep PE Platforms Growing
The Physician Medical Group sector has been very busy in recent years, as hospitals and health systems acquire local practices that can produce referrals and private equity firms build platforms and make add-on deals. Dermatology practices aren’t coveted by hospitals, so it’s the private equity firms that are doing the collecting. In the first eight weeks of 2018, 17 deals for physician medical groups have been annouced, 10 in Janaury and seven in the first three weeks of February. The usual specialty practices were represented in that mix, with Mednax (NYSE: MD) adding a neonatology practice in California, Minnesota-based not-for-profit Fairview Health Services acquiring a... Read More »
CityMD Adds 2 Urgent Care Companies
CityMD, the New York City-based urgent care chain, is beginning to tap the services of its partner, Warburg Pincus LLC. On February 13, the company announced its acquisition of STAT Health, a portfolio company of Spaons Barber Jesse & Co., and FirstMed Immediate Medical Care, for an undisclosed price. CityMD was acquired by Warburg Pincus in April 2017 for a reported price of $600 million, including debt, according to Reuters. It was founded in 2010 by Dr. Richard Park, who remains CEO, and other physicians as a single practice in Manhattan. At the time of its sale to Warburg Pincus, it operated 68 walk-in urgent care centers, some of which were added with its 2013 merger with Premier... Read More »
Health Care M&A Weekly Deals, The Week Ending February 16, 2018
We hope you are enjoying your membership to HealthCareMandA.com. This Health Care M&A Weekly chart below is a selection of transactions announced during the prior week(s). The deals presented here are further elaborated in the monthly newsletter, Health Care M&A News, and in the quarterly report. This information also appears in our online database, Deal Search Online. Visit www.dealsearchonline.com to open a guest account and begin your search. Biotechnology Acquirer Target Price Bioverativ Inc. License to lentiviral vectors $5 million Oncologie, Inc. Exclusive license to lefitolimod $369 million Lee’s Pharmaceutical Limited Exclusive rights to GCC-4401C N/A Bristol-Myers... Read More »Schedule a demo
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