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West Jefferson Medical Has a New Owner

by | Oct 5, 2015 8:56 am | Hospitals

On October 1st, West Jefferson Medical Center, a 405-bed not-for-profit acute care facility in Marrero, Louisiana, officially became the sixth hospital in the LCMC Health family. West Jefferson began looking for a partner back in 2012. New Orleans-based LCMC was chosen earlier this year after it agreed to make lease payments of at least $200 million over 45 years, plus make $340 million in capital improvements in the next 15 years. Although West Jefferson reported revenue of $243 million through 2014, EBITDA was a negative $2.3 million in those 12 months. All’s well that ends well. Read More »

Teva Acquires Respiratory Care Software Platform

by | Sep 28, 2015 8:59 am | eHealth, Medical Devices, Pharmaceuticals

Teva Pharmaceutical (NYSE: TEVA) has had a busy year, making four divestitures and four acquisitions. Last week it tipped the balance in favor of acquisitions, with the purchase of privately held Gecko Health Solutions in Cambridge, Massachusetts. Gecko’s CareTRx™ platform is a novel cloud-based solution designed to simplify chronic respiratory disease management, connecting patients and caregivers through remote monitoring and real-time adherence tools. Teva hopes to apply the CareTRx technology to its pipeline and portfolio of respiratory products. Read More »

2015: The Year of the Small Hospital Deal

by | Sep 28, 2015 8:58 am | Hospitals

You may have read the article in The Wall Street Journal on September 22, titled “Health Law Speeds Merger Frenzy.” It featured our data on the pace of hospital M&A between 2009 and August 31, 2015, with the obvious conclusion that 2015 is the winner for the most deals announced in the first eight months. We took that a step further this week, to see how many small hospitals (defined as 100 or fewer beds) have changed hands in recent years. The data below clearly shows that 2015, even with partial data, tops the previous five years with 34 deals (45% of the total) announced with small hospitals as the target. We’ll have more in the October issue of Health Care Deal News, so sign up... Read More »

Agape Senior Living Portfolio Sold

by | Sep 28, 2015 8:57 am | Long-Term Care, Private Equity

Last week’s largest deal total just $153.8 million. That modest amount was paid by an undisclosed private equity firm to acquire the Agapé Senior Living portfolio across South Carolina. The portfolio consists of 10 assisted living communities, with 856 units, and three skilled nursing facilities, with 294 beds. The buildings were constructed from 1990 to 2008, with various renovations. Occupancy averaged 77.5% at the AL/MC and 81.6% at the SNFs. The final purchase price came out to $156,400 per unit for the AL/MC units and $68,000 per bed for the skilled nursing. Read More »

Signal Bay Buys Cannabis Testing Lab

by | Sep 28, 2015 8:56 am | Laboratories, MRI & Dialysis

The medical marijuana market has been growing like a weed, puns intended, but we haven’t logged many deals associated with it because they’re either undisclosed or simply too far afield to qualify. Last week, however, Las Vegas-based Signal Bay Inc. announced its acquisition of Bend, Oregon-based CannAlytical Research, a testing laboratory that is equipped with the latest high-performance liquid chromatography equipment. It provides state-mandated compliance tests for licensed medical marijuana dispensaries. Signal Bay, through its wholly owned subsidiaries Signal Bay Research, Inc. and Signal Bay Services, Inc., provides industry research, consulting, license application support and... Read More »

Recent Health Care Deals, week ending 9.18.15

by | Sep 21, 2015 8:59 am | Healthcare Market Updates

AcquirerTargetPrice Qualcomm Life, Inc.Capsule TechnologieN/A Cantel Medical Corp.Medical Innovations Group Holdings$79.5 million Physio-Control, Inc. HeartSine TechnologiesN/A DENTSPLY International Inc.Sirona Dental Systems Inc. $13.3 billion ZOLL Medical CorporationKyma Medical Technologies, Inc. N/A Source: The Health Care M&A Information Source,... Read More »

Trilogy Health Services Fetches $1.1 Billion

by | Sep 21, 2015 8:58 am | Long-Term Care

Privately held Trilogy Health Services, the Louisville, Kentucky-based owner and operator of 96 long-term care facilities, was sold to a couple of REITs, Griffin-American Healthcare REIT III and NorthStar Healthcare Income Inc. for $1.1 billion. The joint venture between Griffin-American (which will own 70% of the JV) and NorthStar (30%) will effectively own 96.4% of Trilogy. The remaining 3.6%, or $24 million, will be owned by Trilogy management. The price includes the assumption of $205.1 million of debt. Trilogy operates 96 properties with more than 10,000 beds across four states (Indiana, Kentucky, Michigan and Ohio).Trilogy owns 53 of the facilities and the remainder are leased, some... Read More »

McKesson Buys Irish Drug Distribution Business

by | Sep 21, 2015 8:57 am | Medical Devices

McKesson Corporation (NYSE: MCK) got back into acquisition mode last week with its purchase of the pharmaceutical distribution division of UDG Healthcare plc for €408 million (US$463 million) in cash. Under terms of the agreement, McKesson will acquire United Drug Sangers in Northern Ireland and United Drug in the Republic of Ireland, as well as TCP, a leading home healthcare provider in the Republic of Ireland and MASTA, UDG’s travel healthcare business based in the United Kingdom. The deal boosts McKesson’s European drug distribution business, but not as much as its October 2013 deal for 75% of the German distributor Celesio AG, totaling $8.2 billion. In July, Celesio announced its UK... Read More »

Long-Term Care Deals Still Flourishing

by | Sep 21, 2015 8:56 am | Long-Term Care

The number of long-term care deals set a new record in 2014, with a total of 297 transactions announced. Through September 18th, the sector has logged 215 transactions, which could put 2015 in contention to surpass last year’s record. Or not. This is the year of the small(er) senior housing and care transaction, with deal value now standing at $9.65 billion, compared with last year’s blowout total of $29.3 billion. There were five billion-dollar-plus deals announced in 2014, compared with only one thus far in 2015. Here are the year’s biggest deals, to date. AcquirerTargetPrice Joint ventureTrilogy Health Services$1.12 billion NorthStar Realty Finance32 independent living communities$875... Read More »