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2015 Health Care M&A Beats All Records

by | Jan 28, 2016 2:55 pm | Behavioral Health Care, Biotechnology, eHealth, Home Health & Hospice, Hospitals, Laboratories, MRI & Dialysis, Long-Term Care, Managed Care, Medical Devices, Other Services, Pharmaceuticals, Physician Medical Groups, Rehabilitation

It’s déjà vu all over again. 2014 was a record-breaker for health care M&A, with 1,317 transactions and spending at an astronomical $387 billion. Then 2015 came and went and, once again, we’re writing about a record-breaking number of transactions, 1,460 currently, and astronomical spending of $563 billion. Read More »

Physician Medical Groups Were Hot Targets in Q4:15

by | Jan 28, 2016 8:00 am | Physician Medical Groups

Transactions in the physician medical group (PMG) acquisition market increased in the fourth quarter of 2015, jumping by more than 15% from the third quarter’s activity. The 22 publicly announced physician medical group acquisitions were also 29% higher than the transaction volume in the year-ago fourth quarter. Only one acquisition in the fourth quarter of 2015 came with a disclosed price, and that was the acquisition of Questcare Medical Services by Envision Healthcare Holdings, Inc. for $135.0 million. Based in Dallas, Texas, Questcare Medical has more than 800 clinical providers at 50 facilities in Texas, Oklahoma and Colorado with annual revenues of approximately $160 million. With 88... Read More »
Hospital M&A Dropped in Q4:15

Hospital M&A Dropped in Q4:15

by | Jan 27, 2016 8:30 am | Hospitals

The hospital acquisition market declined in the fourth quarter of 2015, falling 31% from the third quarter’s total of 32 deals. The 22 publicly announced hospital acquisitions in Q4:15 were also 29% lower than the 31 deals announced in the same quarter in 2014. The largest acquisition in the fourth quarter to come with a disclosed price was the acquisition of Al Noor Hospitals Group plc, based in Abu Dhabi, United Arab Emirates, by the South African hospital operator Mediclinic International Ltd. for $2.3 billion. Al Noor Hospitals Group provides primary, secondary and tertiary care services through its hospitals and medical centers in the UAE. Mediclinic International operates... Read More »
Select Medical Acquires Physiotherapy

Select Medical Acquires Physiotherapy

by | Jan 26, 2016 8:00 am | Hospitals, Rehabilitation

Select Medical Holdings Corporation (NYSE: SEM) announced today it has entered into a merger agreement to acquire Physiotherapy Associates Holdings, Inc. for $400 million in cash. Physiotherapy is a national provider of outpatient physical rehabilitation care offering a wide range of services, such as general orthopedics, spinal care and neurological rehabilitation, and orthotics and prosthetics services. As of September 30, 2015, Select operated 110 long term acute care hospitals and 17 acute medical rehabilitation hospitals in 28 states, and 1,033 outpatient rehabilitation clinics in 31 states and the District of Columbia. This acquisition continues their growth. In 2015, Select formed a... Read More »

Q4:15 Health Care M&A Results Are In

by | Jan 22, 2016 8:18 pm | Healthcare Market Updates

It’s hard to see a total of 370 deals in one quarter as a disappointment, but it may be, for some. That’s the current total of health care transactions we have for the last three months of 2015. Compared with the third quarter, however, the fourth quarter deal volume dropped almost 10%. Deal volume in Q3:15 has reached 409 deals, topping the 400-transaction mark for the first time ever. Healthcare services made up a robust 67% of the deal volume in Q4:15, the segment’s strongest showing in the previous four quarters. Thanks to the mega-deals in the Pharmaceutical segment, spending for the fourth quarter was $202.0 billion, up 1% compared with the third quarter’s... Read More »
J&J Slices Its Medical Device Division

J&J Slices Its Medical Device Division

by | Jan 21, 2016 9:12 pm | Medical Devices

Johnson & Johnson (NYSE: JNJ) announced the restructuring of its medical devices business on January 19, 2016. Its 8K filing noted pre-tax restructuring charges of $2.0 billion to $2.4 billion, expected to be incurred this year, as well as a Q4:15 charge of approximately $600 million. About 4% to 6% of the division’s global workforce will get walking papers over the next two years, resulting in a $500 million charge for severance. On a more upbeat note, JNJ expects to see annualized pre-tax cost savings of $800 million to $1.0 billion. This move comes as the market for medical devices has slowed, particularly in the United States. As one of many cost-cutting measures, U.S.... Read More »
Hospital M&A Dropped in Q4:15

Jefferson Expands Again

by | Jan 20, 2016 9:05 pm | Hospitals

Aria Health, a not-for-profit hospital system serving the residents of northeast Philadelphia and lower Bucks County, reached a definitive agreement with Jefferson, the system created last year through the merger of Jefferson Health and Abington Health. That transaction, announced in January 2015 and finalized in May, created an organization with five hospitals, 1,751 inpatient beds, seven outpatient centers and 3,370 physicians. This transaction with Aria adds three hospitals in Frankford, Torresdale and Oxford Valley with 485 licensed beds. Aria also holds an option to develop property on a 41-acre farm in Lower Makefield, Pennsylvania. Under terms of the agreement, Aria will be... Read More »
Managed Care Consolidation in Minnesota

Managed Care Consolidation in Minnesota

by | Jan 19, 2016 8:48 pm | Managed Care

Even as Minnetonka, Minnesota-based UnitedHealth Group (NYSE: UNH) reported larger-than-expected losses in its health-exchange segment in the fourth quarter, a smaller Minnesota managed care company found relief from its own health exchange losses. PreferredOne, based in Golden Valley, was acquired by Fairview Health Services in Minneapolis for an undisclosed price. Fairview is a not-for-profit, integrated health system that has partnered with the University of Minnesota. PreferredOne serves more than 1,500 employers and 285,000 members. The company enjoyed dramatic growth in the first year that the state’s healthcare exchange, MNsure, opened, but it was forced to drop out in 2015... Read More »