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Cigna Bids $67 Billion to Stay in the Race
Cigna (NYSE: CI) is buying Express Scripts Holdings (NYSE: ESRX) for $67 billion, including debt. Some company was going to buy it, we just weren’t sure who. The deal follows the announcement of the $77 billion CVS Health/Aetna (NYSE: CVS/AET) deal and the $4.9 billion Optum/DaVita Medical Group (NYSE: UNH/DVA) hook-up in December 2017. That’s when the word “disruption” became the top-ranked meme in U.S. healthcare. We’ll grant that CVS’s move into managed care signals a change in business-as-usual. But Optum’s deal for DaVita’s medical group didn’t break new ground. Optum has long been known as a voracious acquirer of physician... Read More »
Health Care M&A Weekly Deals, The Week Ending March 9, 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 BayMark Health Services Canadian Addiction Treatment Centers N/A Biotechnology Acquirer Target Price Roivant Sciences License to LGD-6972 N/A OHM Oncology Exclusive license to dual... Read More »
For a Short Month, February Was Long on Deal Volume
Ever wonder why February is the shortest month of the year? It didn’t even exist on the old Roman calendar, when there were only 10 months in a year. Later, the calendar was revised to include 12 lunar cycles totaling 355 days and January and February were added, with February as the last month of the year. In Julius Caesar’s day, the calendar was changed yet again to align with the solar cycle, which amounted to 365 days. And because a complete revolution of the Earth around the sun is actually 365-and-one-quarter days, an extra day is tacked onto the end of every fourth year, which we call a Leap Year. You remembered that from third grade, of course. All that brings us to why comparing... Read More »
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 »Schedule a demo
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