Life Sciences Giants Face Growth and Challenges in Q3 2024 Earnings
On October 22, 2024, Quest Diagnostics and Danaher Corp. released their third-quarter earnings reports, offering a glimpse into the performance and challenges faced by these two major players in the Life Sciences market. Quest Diagnostics In Q3 2024, Quest Diagnostics reported revenues of $2.49 billion, an 8.5% increase compared to the prior year. While the adjusted earnings per share (EPS) of $2.30 beat analyst expectations of $2.26, the company’s operating income saw a slight decline of 3.3% compared to the same period last year. This mixed performance suggests that while Quest is successfully growing revenue through various initiatives, there are underlying challenges impacting... Read More »
Remedy Medical Properties and Kayne Anderson Real Estate Add a Montana MOB to Their Portfolio
Remedy Medical Properties and Kayne Anderson Real Estate have announced the acquisition of a Montana property from a joint venture between United Surgical Partners International (USPI) and Bozeman Health. The acquired asset (often called the Bozeman Health Cottonwood Clinic + Surgery Center) is a 58,872-square-foot medical outpatient building (MOB) and ambulatory surgery center (ASC) in Bozeman, Montana. The MOB was built in 2021 and sits on 5.02 acres of land. It is 100% occupied by three tenants: the West Bozeman Surgery Center, Deaconess Intercity Imaging Center and Bozeman Deaconess Health Services. In addition to the ASC, the facility offers family and pediatric medicine, internal... Read More »
Agenda Health Advises LiveWell Partners on Acquisition of Hope Home Care – A Look Behind the Deal
Agenda Health, a healthcare-focused M&A advisory firm based in Austin, Texas, played a pivotal role in the recent acquisition of Hope Home Care, an Ohio-based home care provider, by LiveWell Partners. The transaction marks a strategic move for LiveWell, enabling it to expand its footprint into Ohio, a state critical to its growth strategy in the Midwest. LiveWell Partners is a St. Louis, Missouri-based homecare provider focused on delivering top-tier clinical outcomes to its patients by building great teams through its whole person approach for its colleagues. We spoke with the Agenda Health executive team behind the deal, as well as LiveWell Partners to gain insights into... Read More »
OneOncology Partners with Southeastern Medical Center
On October 21 OneOncology Inc., backed by TPG Capital and AmerisourceBergen, announced that it entered into an agreement to acquire Southeastern Medical Center (SMOC). SMOC is an oncology practice based out of three locations in North Carolina: Goldsboro, Clinton and Jacksonville. SMOC offers patients access to high-quality services along the cancer care continuum, including infusion therapy, clinical research, in-office drug dispensing and laboratory services. According to its website, there are five physicians on staff who are supported by a team of six advanced practice providers. OneOncology is a national network of independent community oncologists who assist partner practices... Read More »
Specialized Dental Partners Acquires Forest Lake Endodontics
Specialized Dental Partners, backed by private equity group, Quad-C Management, announced that it acquired Forest Lake Endodontics. Forest Lake Endodontics is based in Forest Lake, Minnesota. It provides the full scope of endodontic services such as root canal treatment, 3D imaging and oral surgery. According to its website, there are two physicians on staff: Drs. Mary Ann Bunczak and Tyler J. Schuurmans. Specialized Dental Partners (formerly known as US Endo Partners) is a leading specialty dental service organization that provides comprehensive support services to endodontic specialists across the United States. It was founded in 2018 and has partnered with more than... Read More »
PE-Backed Latus Group Acquires U.K.-Based OH Services
Latus Group, backed by private equity firm NorthEdge, announced on October 22 the completion of its acquisition of OH Services, a regional provider of occupational health services. OH Services delivers highly specialized medical assessments tailored to the needs of the oil and gas, maritime and safety critical industries. It operates from two clinic locations in the United Kingdom: Yorkshire and North East Lincolnshire. Latus Group works with businesses across a range of sectors to help people achieve healthier working lives through proactive, preventative healthcare that supports regulatory compliance, improves colleague health and wellbeing and enhances employee engagement. The... Read More »
Meridian Purchases Medical Outpatient Building in Tucson, Arizona
Meridian announced that it has closed escrow on the purchase of a vacant medical outpatient building (MOB) in Tucson, Arizona. The acquired asset is a 94,569-square-foot MOB, located on a 9.27-acre parcel. The former inpatient cardiovascular hospital has been vacant for 15 years. Founded in 1999, Meridian is a full-service real estate developer and investor specializing in brand-enhancing healthcare and life science developments. The firm owns and manages healthcare properties throughout the United States and continues to aggressively pursue acquisitions and developments. Following the acquisition, the property will be fully occupied by El Rio Health, a Federally Qualified Health Center... Read More »
Healthcare Staffing M&A Slows in 2024 Amid Market Headwinds
The Healthcare Staffing M&A market has seen a noticeable decline in deal activity over the past few years. As of October 18, 2024, there have been 16 Healthcare Staffing deals announced year to date, which represents a 33% decrease compared to the same period in 2023 when 24 deals were announced. This downward trend is consistent with the broader decline observed over the past few years, with 29 deals in FY 2023, 35 in FY 2022 and 37 in FY 2021. One notable aspect of the current year’s deals is the absence of disclosed purchase prices. Previous years have all had at least one purchase price disclosed. This might reflect the types of investors involved, such as privately-held... Read More »
US Heart & Vascular Acquires Birmingham Heart Clinic
On October 21, Provident Healthcare Partners announced that it acted as an advisor to Birmingham Heart Clinic as it was purchased by US Heart & Vascular (USHV). Birmingham Heart Clinic is based out of five locations in the Birmingham, Alabama MSA. The practice is focused on providing the full spectrum of cardiovascular care. According to its website, there are 16 physicians on staff. Formed in 2021 and headquartered in Nashville, Tennessee, USHV is a national provider of support services to cardiovascular physician practices. USHV has partnerships with eight practice affiliates in Arizona, Texas and Kansas and approximately 160 physicians. In addition, USHV is actively... Read More »Schedule a demo
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