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Medical Staffing Companies Attract Private Investors

by | Oct 28, 2016 3:41 pm | Healthcare Staffing, Other Services, Private Equity

Labor shortages in the healthcare industry aren’t a new topic. Earlier this year, the Association of American Medical Colleges warned that the United States could lose as many as 100,000 doctors by 2025, up to one-third of those being primary care physicians. A shortage of registered nurses has been discussed since 1965, by one account. That makes the market for medical staffing companies of particular interest to investors. M&A activity in this subsector has grown in recent years, from a single deal in 2013 to eight deals in 2015. Through the end of October 2016, six deals targeting medical staffing companies are on the books. The majority of acquirers have been another staffing... Read More »

HCA Exits, SSM Health Enters OU Medical System

by | Oct 27, 2016 8:16 pm | Hospitals

One for-profit company relinquishes ownership, and one not-for-profit takes over. That’s what happened on October 16, when HCA (NYSE: HCA) announced it was selling its ownership in the hospital operations of Oklahoma University Medical Center (688 beds) in Oklahoma City, and OU Medical Center Edmond. The University Hospitals Authority and Trust (UHAT), a private entity that was formed by the state, HCA and the University of Oklahoma, will pay HCA $750 million when the transaction closes in the first half of 2017. The company also agreed to terminate its lease of The Children’s Hospital at Oklahoma University Medical Center, as well as an associated joint operating agreement.... Read More »

Almost Family Inc. Becomes Third Largest Home Health Operator

by | Oct 25, 2016 6:26 pm | Home Health & Hospice, Hospitals

The Home Health Care & Hospice sector just announced its 47th acquisition of 2016, and with about two months to go, it is likely that this sector will surpass last year’s total of 51 acquisitions. On October 17, 2016, Almost Family, Inc. (NASDAQ: AFAM), a provider of home health nursing, rehabilitation and personal care services in more than 250 locations, announced its acquisition of Community Health Systems’ (NYSE: CYH) home health division. CHS’s home health business serves just about half of its hospitals, allowing the opportunity for growth into several more hospital markets. This purchase makes Almost Family the third largest operator in the industry. CHS is selling the... Read More »

Acadia Healthcare Tidies Up Its UK Portfolio

by | Oct 21, 2016 7:53 pm | Behavioral Health Care, Private Equity

With three announced acquisitions on the books in 2016, Acadia Healthcare Company (NASDAQ: ACHC) was forced to sell some of its portfolio, for a change. The Franklin, Tennessee-based behavioral health company has been quite active over in the United Kingdom since 2014, when it acquired Partnerships in Care (PiC) for $662 million.At the time, PiC was the second largest independent provider of behavioral healthcare services in the United Kingdom, operating 23 inpatient psychiatric facilities with more than 1,200 beds. The sale worked out to 2.3x price-to-revenue and 8.8x price-to-EBITDA. In 2015, Acadia added Care UK, Choice Lifestyles and The Manor Clinic. Care UK operates 15 inpatient... Read More »

Quorum Health Pares Its Rural Hospital Portfolio

by | Oct 21, 2016 6:35 pm | Hospitals

Just as the Department of Health and Human Services reported that rural hospitals are better at reducing hospital-acquired infections and score better in value-based purchasing plans, Quorum Health Corporation (NYSE: QHC) announced the sale of two of its 38 rural hospitals in October. One analyst says at least six more deals are pending. Quorum Health was spun out of the ailing Community Health Systems (NYSE: CYH) in April 2016. Community Health took on more than it could handle in 2013, when it announced its $7.6 billion acquisition of Health Management Associates, then a for-profit, 71-hospital chain in 15 states. With approximately 11,000 licensed beds, the price worked... Read More »

Three-Way Therapy Merger

by | Oct 19, 2016 8:39 pm | Rehabilitation

On October 18, Casamba LLC, a leading supplier of enterprise software systems to large therapy providers in the United States, announced a three-company merger with HealthWyse and TherapySource. Based in Boston, Massachusetts, privately held HealthWyse serves the clinical, financial and regulatory needs for home health, hospice and private duty care through its fully integrated electronic medical record. Based in Birmingham, Alabama, privately held TherapySource provides clinical and billing solutions to more than 3,500 outpatient therapy clinics across the country through its TherapySource, Rehab Toolkit, and Revenue Cycle Services solutions. The addition of these two post-acute software... Read More »

Medical Device Deals Pick Up in October

by | Oct 18, 2016 5:46 pm | Medical Devices

Only a few weeks into the fourth quarter, and five medical device deals have been announced, putting the year’s total at 95. Abbott (NYSE: ABT) and St. Jude Medical’s (NYSE: STJ) $1.12 divestiture of certain vascular closure and electrophysiology assets is among these five October deals, and the only one to disclose a price. On October 18, Terumo Corporation (OTC:TRUMF) acquired St Jude’s Angio-Seal™ and Femoseal™ vascular closure products and Abbott’s Vado® Steerable Sheath. The $1.12 billion, all-cash deal is subject to the successful completion of Abbott’s acquisition of St. Jude Medical, which was announced in April 2016. All parties involved are bound by the terms of an... Read More »

Recent Health Care Deals, week ending 10.14.2016

by | Oct 14, 2016 7:10 pm | Healthcare Market Updates

TargetAcquirerPrice Takeda Pharmaceutical Co. License to Humabody-based therapeutics$36 million Lutheran Social Ministries of New JerseySt. Anne Villa$16 million Regeneron Pharmaceuticals, Inc. License to aflibercept$10 million Aris RadiologyUS TeleradiologyN/A American Renal Associates, LLC2 dialysis centers in... Read More »

Biotech Deal Volume Increases 58% in Q3:16

by | Oct 14, 2016 7:09 pm | Biotechnology

Overall, mergers and acquisitions slowed in Q3:16, down 11% compared with Q2:16, and 10% lower than in Q3:15. The biotechnology sector saw just the opposite phenomenon. Biotech transactions grew by 58%, to 52 deals, compared with the previous quarter’s 33 deals, and by 24% compared with the same quarter in 2015, when 42 deals were announced.  Not all deals in this sector involve the purchase of an entire company, however. Just 42% of the third-quarter transactions fit that description. The remaining 58% deals involved the purchase of exclusive rights and licenses to products, product candidates or intellectual property from a biotech firm. Pharmaceutical companies have pulled back (or... Read More »