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PharMerica Expands Its Footprint
The institutional pharmacy services company PharMerica Corporation (NYSE: PMC) moved into western New York with its acquisition of McGuire Group Pharmacy, a subsidiary of McGuire Group in Cheektowaga, New York (a suburb of Buffalo). McGuire Group operates skilled nursing facilities in western New York, Long Island and Michigan, and is selling its pharmacy division, which provides comprehensive pharmacy services to long-term care facilities and other customers in the Buffalo-Niagara Falls metropolitan area. Read More »Netsmart Picks Behavioral Health EHR
Netsmart Technologies, which provides post-acute electronic health records and technology for health and human services providers, acquired Little Rock, Arkansas-based Lavender & Wyatt Systems, which provides electronic health records and related services for behavioral health providers. LSWI clients will now have access to Netsmart’s CareRecord EHR optons and arange of other solutions and services that help to deliver quality care and maximize operational efficiencies. Its own Essentia general ledger modules will be added to the Netsmart CareGuidance suite and made available to all Netsmart clients. Read More »Health Care M&A in Q4:15
Okay, so we had a record third quarter in 2015, with more than 390 deals (we’re still counting) and $198 billion-plus in spending. Looking ahead to the fourth quarter, consolidation in many sectors is still strong, as rivals realize they may need to join forces to achieve scale. Case in point: AmSurg Corporation (NASDAQ: AMSG) made an unsolicited $7.5 billion offer for TeamHealth Holdings (NYSE: TMH), which is in the midst of its own acquisition of IPC Healthcare (NASDAQ: IPCM). Although Team Health rebuffed the offer, a larger one is in the offing, no doubt. Also, the huge cash reserves on many companies’ balance sheets are likely destined for M&A transactions, particularly if... Read More »Health Care Deals for the week ended October 16, 2015
AcquirerTarget Price Community Intervention ServicesNorthstar Psychological ServicesN/A Mediclinic International Ltd.Al Noor Hospitals Group plc$2.3 billion GHO Capital Partners LLPDNA Diagnostics Center$118.2 million Digirad CorporationDMS Health Technologies, Inc. $36 million Generex Biotechnology Corp.MediTemp Ltd.$5... Read More »Behavioral Health Consolidation Continues
Late last week came word that Community Intervention Services, a portfolio company formed by H.I.G. Growth Partners, acquired Northstar Psychological Services in Alpharetta, Georgia. Northstar Psychological provides community-based behavioral health services to individuals and families across 38 counties in Georgia. The company employs a clinical staff of more than 90, and provided treatment to more than 2,600 patients in 2014. This is the seventh acquisition for Community Internation Services since its founding in April 2012. Read More »Major Mideast Hospital Matchup
The largest deal announced last week created the largest private healthcare provider in the United Arab Emirates, which may be why you didn’t hear much about it. The South African private hospital company Mediclinic International Ltd. (OTCQB: MCFFY) won the approval of the board of Al Noor Hospitals Group plc, based in Abu Dhabi, UAE, in a deal valued at $2.3 billion. Al Noor, which provides primary, secondary and tertiary care services through its portfolio of hospitals and medical centers in the UAE, spurned the advances of a crosstown rival NMC Health plc, and went with Mediclinic. Mediclinic shareholders will own a majority stake (84% to 93%) in the combined company, which will... Read More »Medical Imaging Deals Abound
Only half way through October, we’ve seen three transactions targeting a medical imaging company in our Laboratories, MRI & Dialysis sector. That brings to 10 the number of imaging targets in 2015, out of the current total of 39 deals recorded in the sector. It began on October 1, with Konica Minolta Medical Imaging USA’s announcement that it was buying Viztek, LLC, a digital software and hardware imaging company, for an undisclosed price. Another optical giant, Toshiba Medical Systems Corporation, announced its acquisition of Olea Medical SA, a French medical imaging applications company, for an undisclosed price. The next day, Digirad Corporation (NASDAQ: DRAD) paid $36... Read More »Q3:15 Health Care M&A, by Spending
Last week we shared our data on health care M&A by sector in the third quarter of 2015. Here’s a look at the same sectors, by share of the dollars spent. If you’ve been following health care M&A at all, you won’t be surprised that the Managed Care sector (health insurers) accounts for about 50% of the $198 billion spent. That total, by the way, is also a new quarterly record. Look for The Health Care M&A Report, Third Quarter, for more in-depth analysis by sector. Read More »Compassus Expands Its Hospice Footprint
Compassus, formerly known as Hospice Compassus, last week announced its acquisition of Hospice Advantage, based in Bay City, Michigan, from Sentinel Capital Partners. Hospice Advantage offers end-of-life care with locations in Alabama, Georgia, Illinois, Indiana, Kansas, Michigan, Minnesota, Mississippi, Missouri, Oklahoma, Pennsylvania, South Carolina, Tennessee and Wisconsin. The service area of the combined company, which will operate as Compassus, will extend to 150 locations in 28 states, serving more than 30,000 patients and their families each year. This acquisition builds on Compassus’s acquisition of Life Choice Hospice in February 2015. Financial terms were not disclosed in... Read More »Schedule a demo
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