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Two For-Profit Hospital Systems Merge
Two hospital chains that changed hands only last year announced their merger on March 22. RegionalCare Health Partners Inc., based in Brentwood, Tennessee, and Capella Healthcare, Inc., located in nearby Franklin, will form RCCH Health Partners when the deal closes in the second quarter. The combined system will have 18 hospital campuses in 12 states with more than 13,000 employees, 2,000 affiliated physicians and $1.7 billion in revenue. Only last July, Capella Healthcare was sold by GTCR to Medical Properties Trust, Inc. (MPT) and Capella management for approximately $900 million. In November, Apollo Global Management (NYSE: APO) paid an undisclosed price for RegionalCare, which was then... Read More »Canon Buys Toshiba Medical Systems
Two companies, two strategic plans. That’s what brought Canon Inc. (NYSE: CAJ) together with Toshiba Corp. (OTCQB: TOSYY) in a deal to acquire Toshiba’s medical device business. Toshiba, which makes laptops, home appliances, nuclear power equipment and more, somehow deemed Toshiba Medical Systems as a non-core asset and decided to sell. For its part, Canon decided earlier this year to diversify beyond cameras and copiers. Canon will pay approximately $5.9 billion for Toshiba Medical Systems, which includes diagnostic imaging systems such as MRI, X-ray and ultrasound equipment. Read More »Recent Health Care Deals, week ending 3.18.16
AcquirerTargetPrice Canon Inc.Toshiba Medical Systems $5.9 billion Nautic PartnersExactCare® Pharmacy$150 million Envision Healthcare Holdings, Inc.Emergency Physicians Medical Group $120 million RocheCollaboration on cancer immunotherapy drugs$45 million Microlin Bio, Inc.Nucleic acid therapeutic assets$7.7... Read More »Envision Healthcare Pays Big for Large Doc Group
Five hundred clinical providers constitutes a big physician practice, and Envision Healthcare Holdings, Inc. (NYSE: EVHC) just paid approximately $120 million for one. The target is Emergency Physicians Medical Group of Ann Arbor, Michigan, whose providers staff 37 facilities in Michigan, Illinois, Indiana, Ohio, Iowa and Delaware. The group is expected to bring in approximately $140 million in annual revenue, which works out to a modest 0.9x revenue and a moderately pricey $240,000 per provider. EPMG clinicians manage nearly 1 million patient encounters annually in emergency and hospital medicine departments as well as urgent care centers across the Midwest. It also operates community... Read More »Sleep Services Goes to MedBridge Healthcare
Sleep disorders continue to spawn acquisitions. In February, ResMed Inc. (NYSE: RMD) paid $800 million for Brightree, a digital health company focused on post-acute segments that have a high prevalence of sleep-disordered breathing problems. This month, MedBridge Healthcare, a portfolio company of Vicente Capital Partners, paid an undisclosed price for Sleep Services of America, a wholly-owned subsidiary of the John Hopkins Health System. The Glen Burnie, Maryland-based company operates locations in Georgia, Maryland, New York, North Carolina and the District of Columbia, providing diagnosis, treatment and diagnostic studies for sleep disorders. The deal is a good fit for MedBridge,... Read More »Allegiance Health Joins Henry Ford Health System
Even large hospitals are looking to scale up these days. That’s what drove Allegiance Health, a 480-bed community hospital in Jackson, Michigan, to sign on with Detroit-based Henry Ford Health System. Henry Ford is a five-hospital system that provides both health insurance and health care delivery, including acute, specialty, primary and preventive care services. Allegiance Health wasn’t financially troubled, having reported nearly $480 million in operating income through June 30, 2015, and about $32 million in EBITDA. This deal between the two not-for-profit systems will enable Allegiance to expand its services and build clinical capacity. The process isn’t expected to... Read More »Complementary Specialty Pharmacies Merge
Apothecary by Design, a specialty pharmacy based in Portland, Maine, has acquired privately held Healy Pharmacy for an undisclosed price. The Warrenville, Illinois-based target focuses on infertility, gastroenterology, hepatitis, oncology, HIV, dermatology and rheumatoid arthritis. Both target and acquirer specialize in infertility treatment, serving complementary geographic markets with little overlap. This acquisition will blend each pharmacy’s unique areas of expertise, such as Healy’s strength in oncology and ABD’s experience in infectious and inflammatory diseases. Apothecary by Design was acquired in August 2015 by BelHealth Investment Partners for an undisclosed... Read More »Recent Health Care Deals, week ending 03.11.2016
AcquirerTargetPrice Spark TherapeuticsGenable Technologies Ltd. $15,151,000 Compassus Genesis' home health & hospice business$84,000,000 AbbVie Inc. Global collaboration on immunology compounds$595 million EyeGate PharmaceuticalsJade Therapeutics$3,355,000 MEDNAX, Inc.Pediatric ENT Institute of South Texas,... Read More »Recovery Centers of America Makes Its First Acquisition
The behavioral health care sector has a new acquirer in its midst. Recovery Centers of America, a portfolio company of Deerfield Management, announced its first deal on March 9. Recovery Centers of America, based in King of Prussia, Pennsylvania, was launched in September 2015 by real estate developer J. Brian O’Neil and received $231.5 million from Deerfield soon thereafter. The target was Lighthouse Recovery Center, a 53-bed drug and alcohol abuse treatment facility in Mays Landing, New Jersey. The acquisition includes the residential treatment center and three satellite outpatient sites in south Jersery. Read More »Schedule a demo
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