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LHC Group Adds Two Home Health Companies
LCH Group (NASDAQ: LHCG) added two more companies to its empire of home health, hospice, community-based services agencies and long-term acute care hospitals (LTACs). Professional Healthcare Resources in Annadale, Virginia and East Arkansas Health Holdings in Little Rock, Arkansas are now part of the fold. They are expected to produce annualized revenues of approximately $44 million, which consists of $23.3 million in home health revenue, $5.1 million in hospice revenue and $15.6 million in community-based services revenue. PHR delivers a wide range of home healthcare services, including skilled nursing, therapy, personal care services and hospice. Its licensed service area covers a... Read More »Zimmer Biomet Bolsters Its Spine Business
Zimmer Biomet Holdings, Inc. (NYSE: ZBH) strengthened its spinal business with the $1.0 billion acquisition of LDR Holding Corporation (NASDAQ: LDRH). Founded in France in 2000, LDR designs and commercializes various surgical technologies for the treatment of patients suffering from spine disorders. Its primary product offerings are the Mobi-C cervical disc replacement (CDR) device and MIVo portfolio to support lumbar and cervical fusion procedures, both of which complement Zimmer Biomet’s current portfolio. The CDR segment is one of the fastest growing within the $10 billion spine industry. Combined, Zimmer Biomet and LDR create a differentiated and comprehensive Spine portfolio.... Read More »Recent Health Care Deals, week ending 06.03.2016
AcquirerTargetPrice Jazz Pharmaceuticals plcCelator Pharmaceuticals Inc. $1.5 billion Grunenthal GmbHRights to Zurampic in Europe & Latin America$230 million Carter Validus Mission Critical REIT IIVibra Rehab Hospital of Rancho Mirage$37.1 million Senior Health Care Solutions LLCHeritage Mills Personal Care Center$2.4... Read More »Jazz Adds Cancer Contender to Its Pipeline
Dublin-based Jazz Pharmaceuticals (NASDAQ: JAZZ) came across the pond to shop for late-stage drug candidates, and ended up buying Celator Pharmaceuticals (NASDAQ:CPXX) for $1.5 billion. Celator focuses on combination therapy to treat cancer. Its lead product, VYEXOS™, has completed a Phase 3 trial for acute myeloid leukemia. VYEXOS™ complements Jazz Pharma’s clinical and commercial expertise in hematology/oncology. Jazz is paying $30.25 per share in cash. The transaction is expected to be accretive to non-GAAP adjusted EPS beginning in 2018. Read More »Six Forest Park Medical Centers All Sold
The lawsuits may go on, but the facilities that once belonged to the physician-owned chain of six hospitals In Texas are now in new hands. Each filed for Chapter 11 bankruptcy protection at different times, beginning in September 2015, and were sold in separate auctions. On February 18, Sabra Health Care REIT (NASDAQ: SBRA) unloaded Forest Park Medical Center at Frisco for $96.25 million to HCA North Texas, a subsidiary of HCA (NYSE: HCA). The REIT had paid $119.8 million to acquire the 54-bed hospital in October 2013. The hospital initially relied on out-of-network fees for procedures, but that revenue stream dried up as insurance companies created their own in-network contracts. The... Read More »REIT Buys Rehab Hospital
Carter Validus Mission Critical REIT II teamed up with Vibra Healthcare to acquire Vibra Rehabilitation Hospital of Rancho Mirage. Vibra Rehab is under construction to become a 40,688-square foot, 50-bed inpatient rehabilitation hospital. Vibra Healthcare currently operates more than 40 specialty acute care hospitals and outpatient physical therapy centers with more than 2,000 beds. Construction costs are budgeted at approximately $27.6 million to be funded by CVMC REIT II, and the purchase price is $9,466,287, bringing the transaction total to approximately $37.1 million. The facility is 100% leased to Vibra Rehabilitation Hospital of Rancho, LLC for a 16-year term beginning 30 days from... Read More »MedAssets-Precyse Adds Equation
Pamplona Capital Management is building out its healthcare data services. In November 2015, the firm spent $2.7 billion to acquire publicly traded MedAssets, Inc., which served four out of every five hospitals in the United States with technology-enabled financial products and services. Once it spun off the Spend and Clinical Resource Management segment to VHA-UHC Alliance (now called Vizient), MedAssets’ Revenue Cycle Management segment with Precyse, another portfolio company, to offer end-to-end RCM and HIM solutions. Now MedAssets-Precyse, as it’s known, is adding Equation, a Utah-based financial and clinical healthcare analytics and consulting company. Now that... Read More »CROs are back in style for M&A
Contract research organizations (CROs) are changing hands again, all over the world. Since 2010, we’ve recorded 63 transactions in total, with six announced in 2016 already. That’s a strong showing compared with five CRO deals for all of 2015, but not nearly on pace to surpass the 19 deals posted in 2014. Total combined spending, based on the 14 deals with prices disclosed, was $6.5 billion. The largest by far, at $3.9 billion, was for Pharmaceutical Product Development, acquired by then-privately held The Carlyle Group (now NASDAQ: CG). A majority of the deals (63%) were made by other CROs, compared with 16% by private equity firms, the second largest acquirer category.... Read More »eHealth Deals in Q1:16
Merger and acquisition activity edged up in the first quarter, up 17% to 35 transactions compared with the fourth quarter. The first quarter activity made up 27% of the 132 deals announced in the previous 12 months. Investor interest in this sector remains strong, particularly for revenue cycle management programs and data analytics technologies that help health care providers across the care continuum become more efficient and cut costs. Read More »Schedule a demo
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