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NextCare Urgent Care Expands in Arizona
NextCare Holdings Inc., already the country’s largest privately held urgent care provider, grew even more last week with the acquisition of three urgent care facilities in its home state of Arizona. The newest additions are two Troyer Urgent Care centers in Flagstaff and Lake Havasu City, and Chino Valley Medical Center in Chino Valley. They bring the company’s total to 35 locations within the state, and extend its services to more than 90% of the state’s population. The Chino Valley center will also provide primary care services. Financial terms were not disclosed. Read More »Five Biggest Healthcare Deals in May 2015
The last week of May slowed to a crawl as far as announced health care transactions, but preliminary totals for deal volume and value indicate that May 2015 wasn’t too shabby. As of May 29, we counted 101 healthcare transactions, with a combined total of $32.4 billion. A year ago, there were 109 M&A announcements, for a total of $27.5 billion. We’ll go into detail in the June issue of Health Care M&A News, so watch for the publication announcement later this week. Read More »The Only Pharma Deal Announced Last Week
You know it’s a quiet week for healthcare M&A when only one pharmaceutical deal is announced. Last week, Tanner Pharmaceuticals, a portfolio company of Bourne Partners, paid an undisclosed sum for specialty pharma company BurnsAdler Pharmaceuticals. Both companies are based in Charlotte, North Carolina. The two have merged to form Tanner Pharma Group, which includes Tanner Clinical Trial Sourcing, Tanner Global Access Programmes, and Tanner Licensing, Acquisition and Commercialisation. Although the company is headquartered in the United States, it has offices in London, Sao Paulo and Mexico City. Read More »Prudential Real Estate Investors Buys 3 AL Properties
Prudential Real Estate Investors (PREI)is a private real estate firm owned by Prudential Insurance, paid $110 million for three assisted living facilities, two of which are in Tennessee: Hendersonville, with 130 units built in 2012 and Franklin, with 126 units built in 2014. The Connecticut community is in Glastonbury with 135 units built in 2014. All three offer assisted living and memory care, and have a combined 341,000 square feet. Hearth Management, which previously owned the properties through a joint venture partnership, has been retained as the managery. Read More »Recent Healthcare M&A Deals, Week Ending May 22, 2015
Read More »CVS Wins Omnicare Auction
Omnicare Inc. (NYSE: OCR) put itself on the market in April, with bids due in May. At the time, its market value was estimated to be about $8.5 billion. CVS Health Corp. (NYSE: CVS), Express Scripts Holding Co. (NASDAQ: ESRX), McKesson Corp. (NYSE: MCK) and Walgreens Boots Alliance Inc. (NASDAQ: WBA) were expected to kick the tires. Last week, CVS won the deal with $12.7 billion, including $2.3 billion in debt. Omnicare’s big draw is its specialty pharmaceutical business focused on assisted living and long-term care facilities. The deal follows UnitedHealth Group’s (NYSE: UNH) $12.8 billion acquisition of pharmacy benefits manager Catamaran Corp. (NASDAQ: CTRX) in March and Rite Aid... Read More »Doctors Groups on an M&A Hot Streak
Interest in physician medical groups is reaching a boiling point in 2015, with 36 transactions announced as of May 22. Nine announcements were made in May alone, including last week’s deal for the 276-physician Chidren’s and Women’s Physicians of Westchester, by Boston Children’s Hospital. Contrast that with 2014’s total of 60 acquisitions, and 2015 is shaping up to be an interesting year. The big players—IPC Healthcare (NASDAQ: IPCM), MEDNAX (NYSE: MD) and TeamHealth Holdings (NYSE: TMH)—are still leading the field in the number of acquisitions, but there several other companies making inroads. Check out the chart below. Read More »Fast Start for Persivia
A week after announcing its formation, privately held Persivia made its first acquisition. The Lowell, Massachusetts-based company, which focuses on population health, precision medical and chronic care management solutions, purchased Alere Analytics, which developed its own real-time Clinical Decision Support and Chronic Care management technologies. More acquisitions may be forthcoming, but for now, the Alere Analytics platform is expected to create “groundbreaking advancements” in chronic care management. Terms of the deal were not disclosed. Read More »FastMed Urgent Care Goes to ABRY Partners
Yet another major transaction for an urgent care provider was announced last week, as Comvest Partners sold its interest in FastMed Urgent Care to ABRY Partners, for an undisclosed price. FastMed is the second largest independent urgent care organization in the United States, with 52 clinics in North Carolina and 35 in Arizona. In April, UnitedHealth Group’s Optum (NYSE: UNH) paid an undisclosed sum for MedExpress, which operates 141 full-service neighborhood medical centers in 11 states. The month before that, Humana Inc. (NYSE: HUM) sold its urgent care subsidiary Concentra Inc. to a joint venture formed by Welsh, Carson, Anderson & Stowe and Select Medical Corporation (NYSE: SEM)... Read More »Schedule a demo
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