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PE-backed Pivot Physical Therapy Grows (Again)

PE-backed Pivot Physical Therapy Grows (Again)

by | Apr 6, 2017 1:09 pm | Private Equity, Rehabilitation

Acquisitions of rehabilitation companies and clinics has been on the rise in recent years. That trend is continuing in 2017, with nine deals announced in the first quarter. Five of those were announced in March alone. The second quarter is off to a good start, too. Pivot Physical Therapy, a portfolio company of CI Capital Partners, just inked its fourth deal of 2017. On April 5, 2017, Pivot acquired Tidewater Physical Therapy, an outpatient physical therapy practice with more than 30 locations across Virginia, including five aquatic therapy centers and three performance centers. This purchase comes on the heels of a two-year buying spree. Back in 2014, CI Capital Partners, alongside... Read More »

Laboratories, MRI & Dialysis Deals Dropped in 2016

by | Mar 29, 2017 1:57 pm | Laboratories, MRI & Dialysis

Deal volume settled down in 2016, following a very busy 2015 in the Laboratories, MRI & Dialysis sector. The 41 deals recorded represent a 21% decline compared with the 52 announced in 2015. Laboratories have had to adapt as hospitals and health systems have merged or closed in recent years. Some labs have evolved to offer coordinated diagnostics: offering tests that give on-the-spot diagnoses, handling bills and lab data from several sources and providers as an aid to accountable care organizations, and focusing on the patient experience to ensure repeat business. At the same time, deal value surged in 2016, up 166% year-over-year to $11.6 billion. Two multi-billion-dollar deals... Read More »

Bracket Changes Hands Again

by | Mar 28, 2017 7:55 pm | CRO, eHealth, Other Services, Private Equity

It may not be news to digital health sector watchers that Bracket, a privately held clinical trial technology provider, was sold again. On March 28, 2017, San Francisco private equity firm Genstar Capital purchased the company for an undisclosed price. Bracket, a Pennsylvania-based clinical trial technology, has changed hands several times over the years. Bracket serves biotechnology and pharmaceutical companies, as well as clinial research organizations. It leverages Bracket eCOA™, a platform for electronic clinical outcomes assessments that collects information from patients (ePRO), clinicians (eClinRO) and other observers (eObsRO). The company started off as a division of United... Read More »

Where Have All the Big Pharma Deals Gone?

by | Mar 28, 2017 7:43 pm | Biotechnology, Pharmaceuticals

The Pharmaceutical sector has experienced a dearth of big deals so far this year. In Q1:16, 40 transactions with pharmaceutical targets were announced, for a total of $46.2 billion. In the first quarter of 2017 (through March 28), only 24 deals (-40%) for pharmaceutical targets have been announced, with a combined total of $10.1 billion (-78%). One factor behind the drop in deals is obvious. The sector came under legislative and consumer scrutiny during the presidential election in 2016, as candidates Hillary Clinton and Donald Trump each decried high prices charged by drug manufacturers, and each vowed to do something about it once elected. President Trump repeated his campaign promise to... Read More »

Kohlberg and Co. Expands its Alita Care Platform

by | Mar 28, 2017 3:40 pm | Behavioral Health Care, Private Equity

Private equity companies are driving most behavioral health activity in 2017, as they continue to trade practices and build up regional platforms. Through March 28, 2017, 12 behavioral health care deals are on the books. Nearly 60% of these deals were announced by financial buyers, six of which were PE- backed behavioral health companies. One was a private equity firm and one a blank-check investment firm. In April 2016, American Capital Ltd. (NASDAQ: ACAS) announced the sale of its portfolio company, The Meadows of Wickenburg, Inc., to Kohlberg & Company LLC, a New York-based private equity firm, for $180 million. Located in Arizona, The Meadows provides addiction and... Read More »
PE-backed Pivot Physical Therapy Grows (Again)

Rehabilitation Deals Gained Strength in 2016

by | Mar 24, 2017 6:22 pm | Private Equity, Rehabilitation

Mergers and acquisitions in the Rehabilitation sector continued the climb that began in 2014, with a 21% increase in deal volume since 2015. Mergers and acquisitions in the Rehabilitation sector continued the climb that began in 2014. A total of 40 deals were announced in 2016, up 21% compared with the year before, and 90% higher than in 2014. This fragmented sector has benefited from the growing emphasis on post-acute care and cost efficiencies, similar to the Home Health sector. Like physician medical groups, targets in this sector tend to be small, privately held operations and their acquisitions aren’t always publicly announced. For that reason, the data may underrepresent the... Read More »

2016 Home Health and Hospice Deals Picked Up

by | Mar 24, 2017 3:55 pm | Home Health & Hospice, Private Equity

After a rough 2015, when the M&A bubble burst in this sector, deal volume in 2016 showed signs of recovery. Fifty-seven deals were announced in 2016, a 12% increase compared with the previous year. A few companies accounted for several deals. Jordan Health Services, a portfolio company of Palladium Equity Partners, led with five transactions. Epic Health Services, a portfolio company of Webster Capital, announced four deals, as did Kindred Healthcare (NYSE: KND). The latter company surprised many observers with its announcement that it was leaving the skilled nursing space to concentrate more on long-term acute care hospitals and home health and hospice agencies. We expect at least a... Read More »

Cerulean Pharma Shifts its Focus to Women’s Health

by | Mar 24, 2017 3:39 pm | Biotechnology, Pharmaceuticals

Cerulean Pharma Inc. (NASDAQ:CERU), a clinical-stage company that develops nanoparticle-drug conjugates (NDCs), sold off its lead assets and is transitioning its focus from oncology to women’s health. The company announced on February 1, 2017 that it had hired investment bank Aquilo Partners, L.P., as its financial advisor to assist in a comprehensive review of strategic alternatives to maximize stockholder value. Then, on March 20, 2017, it announced that it had entered a stock purchase agreement with privately-held Daré Bioscience, in which Daré will own between 51% and 70% of the combined company. Daré Bioscience is a California-based, clinical-stage pharmaceutical company that develops... Read More »