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Home Health & Hospice Deals Keep Coming
The home health & hospice sector is still buzzing with mergers and acquisitions. Just two weeks into the month of March, six transactions have been announced. The largest target by price (and the only one disclosed to date) is Comapssus’ $84 million purchase of the home health and hospice operations of Genesis Healthcare (NYSE: GEN), which are located in California, Idaho, Montana and New Mexico. Compassus already operates more than 150 community-based hospice and palliative care programs in 28 states. After the close, it will operate more than 165 programs in 30 states. Genesis announced the sale after concluding the home health and hospice businesses were non-strategic assets.... Read More »Hospital Bankruptcies Contributing to M&A Volume
The hospital sector staged a strong showing in February, with 11 transactions recorded thus far. The month’s total beat January’s four deals, and was even higher than December 2015’s nine transactions. Unfortunately, bankruptcy proceedings provided the catalyst for four of February’s hospital deals, and we’re sure to see more in the year ahead. Last year, at least 11 hospital deals involved a bankrupt facility, so four already on the books in 2016 doesn’t seem to bode well. Prices for the hospitals reached $96.2 million, which was what HCA North Texas (NYSE: HCA) paid for Forest Park Medical Center at Frisco, a 54-bed hospital that is part of the failing, physician-owned chain in Texas.... Read More »Recent Health Care Deals, week ending 03.04.2016
AcquirerTargetPrice ProStrakan Group plcRights to Moventig$70 million IpsenExclusive license to cabozantinib$200 million UPMC EnterprisesN/A Ascension WisconsinWheaton Franciscan HealthcareMerger Civitas Solutions, Inc. Tender Loving Care of Duluth, Inc.... Read More »Leap Day Boosts February Deal Volume
It’s Leap Year, which means February was a day longer in 2016. This year, that extra day marked the announcement of seven healthcare transactions, which raised the month’s total to a healthy 113 deals. The services sectors were more active than usual, and accounted for 65% of the total. Usually, the services side makes up about 55% to 60%. Dollar volume was healthy, too, at $27.7 billion. But given the records set in 2015, February’s dollar total ended up 35% below the same month a year ago. The deals may be getting smaller, but they’re still being made. Read More »
Rehab Companies Still on the Prowl
M&A in the rehabilitation sector has been pretty slow this year. So slow, in fact, no deals were recorded in February. The first week in March, however, things picked up. U.S. Physical Therapy, Inc. (NYSE: USPH) announced it acquired a 55% stake in an unidentified physical therapy practice that operates through eight clinics. The stake cost $13.7 million, and the business generates approximately $9.0 million a year on roughly 65,000 patient visits. The second deal came from MOTION PT Group, Inc., a portfolio company of Pharos Capital Group, which is getting into physical and occupational therapy in a big way. MOTION PT was launched in 2015, and began buying up PT companies in the New... Read More »
LifeCare Hospitals Moves Into Home Health
LifeCare Hospitals, part of LifeCare Holdings LLC, specializes in treating chronically ill and medically complex patients in post-acute settings. This week, it announced the acquisition of Haven Home Health, LLC, a multi-location home healthcare provider in the greater Dallas-Fort Worth metro area. The acquisition is part of LifeCare’s strategic expansion in the post acute market. In May 2011, the company paid $117.5 million for five long-term acute care hospitals owned by HealthSouth Corporation (NYSE: HLS). LifeCare Holdings itself was acquired by The Carlyle Group in July 2005 for $555 million, from GTCR Golder Rauner. In December 2012, the private equity firm sold LifeCare to... Read More »
Wheaton Franciscan Joins Ascension Wisconsin
It’s final. On March 1, 2016, Wheaton Franciscan Healthcare joined the local network of St. Louis, Missouri-based Ascension. Wheaton Fransican, sponsored by the Wheaton Franciscan Sisters and Felician Sisters, has eight hospital campuses, 330 physician medical groups, outpatient centers, transitional and long-term care facilities, home health and hospice services. It became the fourth regional system that is part of Ascension Wisconsin, joining Columbia St. Mary’s, Ministry Health Care and Affinity Health System. With this transaction, Ascension Wisconsin has 27 hospitals, 114 primary care clinics, more than 24,000 associates, including more than 1,000 physicians. This... Read More »Recent Health Care Deals, week ending 02.26.2016
AcquirerTargetPrice Baxalta Inc. Collaboration on CAR T cell therapies$105 million ResMed Inc. Brightree$800 million AmgenRights to wearable drug injectors$55 million Recipharm ABMitim Srl$74.7 million McKesson Corporation2 oncology companies$1.2... Read More »
Surgical Care Sews Up Two Partnerships
Surgical Care Affiliates, Inc. (NASDAQ: SCAI) announced two transactions in the month of February that expanded its Chicago-area footprint to six locations. First was the Center for Minimally Invasive Surgery in Mokena, Illinois. The center’s 17 phsyicians provide a full suite of outpatient surgical services, including general surgery, gynecology, ophthamology, orthopedics, pain management and podiatry. Although the deal was announced on February 2, it was effective on January 1, 2016. Next, on President Lincoln’s birthday (that’s February 12, to the uninformed), SCA partnered with Winchester Endoscopy Center in Libertyville, Illinois. The center’s six physicians... Read More »Schedule a demo
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