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Recent Health Care Deals, week ending 12.11.15
AcquirerTargetPrice American Addiction CentersSolutions Recovery, Inc. $13 million United Health GroupHospital Samaritano$350 million Horizon Pharma plcCrealta Pharmaceuticals$510 million SheridanPremier Emergency Medical Specialists, PLLCN/A KKR & Co. LGC Group~$989... Read More »Salinas, CA: A Hot-Bed of Health Care M&A
Health care M&A is booming this year, even more than last, and it’s reaching into hamlets and valleys all across the nation. One such place: Salinas, California, from which three transactions have originated in the past two months. Of course it’s not Chicago or New York City, and that’s the point. The last time we recorded a deal for a health care company in Salinas was 2006. Here are the deals that have percolated up in the Salinas Valley: WorkWell Medical Group LLC, a network of five urgent care clinics, was acquired by Salt Creek Capital of Menlo Park, California Salinas Valley PrimeCare Medical Group, a 20-physician primary/specialty medical group, was acquired by... Read More »Behavioral Health M&A Picks Up in 2015
Behavioral health care is a big but fragmented business in the United States. In 2015, it got bigger, but less fragmented. M&A volume is up 25% in 2015, with 30 publicly announced transactions, higher than any year since 2000 (33 deals). Spending on this year’s deals is currently $1.1 billion (not a record). The latest deal is typical of the sector. NcgCare, the recently created parent company of Richmond, Virginia-based National Counseling Group, acquired Turning Point Family CARE, PLLC, which has two offices in Durham and Raleigh, North Carolina. No financial terms were disclosed, but the company’s CEO, Frank Viera, told the Richmond BizSense that his company is looking... Read More »Have the Daughters of Charity Made a Deal?
Don’t hold your breath, but the Daughters of Charity Health System (DCHS) in Los Altos, California may have found a buyer. Sure, the Board chose BlueMountain Capital Management LLC last July, in favor of its well-publicized $250 million offer to keep the struggling system afloat. And we do mean struggling. Through June 30, 2014, DCHS’s five acute-care hospitals made nearly $1.2 billion in total operating income, but a combined loss of $64.0 million in EBITDA. Don’t forget that for-profit hospital company Prime Healthcare Services walked away from its $849 million offer for Daughters back in March, accusing the state’s Attorney General, Kamala Harris, of imposing... Read More »Sheridan Moves into Phoenix Market
Sheridan just made its fifth announced acquisition of the year, buying Premier Emergency Medical Specialists, a 49-physician group in Phoenix, Arizona. Sheridan is the Physician Services division of AmSurg Corp. (NASDAQ: AMSG), the ambulatory surgery giant, which last year paid $2.35 billion for Sheridan, then a portfolio company of Hellman & Friedman. The purchase marks Sheridan’s entry into the emergency medicine market in Phoenix, and boosts AmSurg’s presence there. It also marks the 71st transaction for a doc practice in 2015, and the second announced in December. Read More »Recent Health Care Deals, week ending 12.04.15
AcquirerTargetPrice Acadia Healthcare CompanyMMO Behavioral Health Inc.N/A WellStar Health System5 Tenet hospitals in Atlanta$661 million Prime Healthcare ServicesMemorial Hospital of Salem CountyN/A Molina HealthcareMedicaid business of Better Health NetworkN/A Kaiser PermanenteGroup Health Cooperative$1.8... Read More »Senior Monitoring Companies Consolidate
Three-year-old Lively, a San Francisco startup, has been acquired by GreatCall, Inc. of San Diego. Lively has developed a remote monitoring system for seniors to help them age in place. Its safety watch works with a system of passive activity sensors to alert family members and share seniors’ daily routines. Lively will complement GreatCall’s suite of products for active aging, which including GreatCall Splash, Jitterbug5, Touch3 and health, safety and medical apps, including Urgent Care, GreatCall Link, MedCoach and 5Star. Financial terms were not disclosed. Read More »Kaiser Permanente Acquires Group Health Cooperative
Kaiser Permanente, the California healthcare provider and insurer, announced it will acquire Seattle-based Group Health Cooperative. The price of $1.8 billion will create a new community foundation in Washington state. Group Health covers approximately 590,000 members. It will become Kaiser’s eighth region, joining Colorado, Georgia, Hawaii, Mid-Atlantic states (Virginia, Maryland and the District of Columbia), Northern California, Northwest (Orgegon and southern Washington) and Southern California. If approved by regulators, Kaiser’s reach will cover the entire West Coast of the United States. Read More »November Health Care Deal Volume Slows Further
The fourth quarter of 2015 isn’t building the M&A momentum we saw a year ago. Preliminary deal volume for November 2015 sits at 107 deals, which bests the previous month’s 99 deals by 8%, but is a solid 28% behind the same month in 2014. This is how health care M&A is playing out in 2015. The burst of activity that carried over from December 2014 into the first quarter has been petering out ever since. Even as 2015’s total deal volume will surpass last year’s record of 1,312 transactions (see story, page 1), this year was front-loaded with deals. A new record for first-quarter deal volume was set this year, with 366 transactions now on the books. By contrast, 2014 deal... Read More »Schedule a demo
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