Healthcare M&A Activity in Q3 Stabilizes
Despite all the headwinds straining the healthcare M&A market, deal activity stabilized in the third quarter of 2024, according to preliminary results in the LevinPro HC database. With 489 deals on the books in the last week of September, we saw only a marginal decline in activity compared with the second quarter of 2024 and year-over-year numbers. From April to June, there were 499 deals, and in Q3:23, activity reached 516 deals. Disclosed spending followed a similar trend to quarterly deal volumes, which is not always the case. Announced prices hit approximately $44 billion in Q3:24, a 7% decline compared to the second quarter ($47.4 billion) but a 7% year-over-year increase... Read More »
Affinity Equity Partners Acquires Australian Diagnostic Imaging Provider for $658 Million
Hong Kong-based Affinity Equity Partners announced that it is acquiring radiology services provider Lumus Imaging from St Leonards, Australia-based healthcare company Healius Limited for A$965 million (approximately $658 million USD). Lumus Imaging is a Sydney, Australia-based diagnostic imaging company. It is made up of a team of radiographers, sonographers, nuclear medicine technologists and nurses. It has more than 2,000 diagnostic imaging experts and support staff across 135 sites across Australia. Affinity Equity Partners is one of the largest Asian private equity firms in the world, with more than $14 billion in assets under management. It was founded in 1998. Healius expects to net... Read More »
Sanner Group Expands Medical Device Offering With Gilero
Sanner Group, backed by London-based private equity firm GHO Capital, announced that it has acquired Gilero LLC. The addition of Gilero will enhance Sanner’s offering, positioning the business as a leading provider of end-to-end services across drug delivery, diagnostics and medtech device sectors. Gilero LLC is a medical device design, contract development manufacturing organization (CDMO) headquartered in the Durham, North Carolina suburb of Morrisville. Sanner Group is a leading global healthcare packaging manufacturer and medical device CDMO. Headquartered in Germany with manufacturing facilities across Germany, France, Hungary and China, Sanner has developed from a global market... Read More »
Winner Medical Acquires Global Resources International for $120 Million
On September 26, Winner Medical announced that it acquired 75.2% equity of Global Resources International, Inc. (GRI) for $120 Million. According to data captured in the LevinPro HC database, this acquisition marks the 23rd contract development manufacturing organization transaction of the year. Founded in 2000, GRI is a privately held corporation and a leading provider of comprehensive manufacturing and value-added services for medical devices, industrial products and protective solutions. Its products include surgical kits, drapes, sheets, containers, surgical gowns and industrial protective clothing. Winner Medical is a manufacturer of disposable wound-care and surgical products... Read More »
Molecular Designs Acquires Lamda Biotech
On September 25, Molecular Designs announced that it entered into an agreement to acquire Lamda Biotech. Lamda Biotech is a specialized provider of research products for application in molecular biology, functional genomics, proteomics and gene therapy. For more than 20 years, Lamda Biotech has been highly regarded for its offering of cutting-edge PCR products, RT-PCR reagents, RT-qPCR kits, Direct-PCR genotyping kits, DNA ladders, SafeStain and other protein and cell biology products. Molecular Designs is a team of doctors and scientists working to advance molecular diagnostics. It offers numerous multiplex PCR-based panels produced under GMP and ISO 13485:2016 quality... Read More »
Meridian Health Services Acquires Eight Clinics
On September 18, Meridian Health Services announced that it purchased eight clinics from Lutheran Health Network. The eight clinics being acquired are in Indiana: three in Bluffton, two in Peru and one each in Ossian, Warren and Markle. Lutheran Health spokeswoman Joy Lohse said the clinics currently have a combined 61 physicians, advanced practitioners and staff. Meridian Health Services is a progressive healthcare organization specializing in “whole-person” health, integrating physical, mental and social well-being. The organization has been serving the community for nearly 50 years and is accredited by the Joint Commission and certified by the Indiana Division of... Read More »
Behind the Deal: PGP Advises on Urology Transaction
On September 4, Physician Growth Partners (PGP) announced that it worked as the financial advisor to Keystone Urology Specialists in its acquisition by Solaris Health. Based out of four Lancaster, Pennsylvania MSA locations, Keystone Urology Specialists is run by a team of 9 physicians. The practice has been in business for more than 55 years and has provided service to more than 25,000 unique patients each year. Solaris Health, a portfolio company of private equity firm Lee Equity Partners, is a national healthcare platform committed to enhancing access to specialty healthcare. The group was formed in June 2020 when Lee Equity Partners purchased and merged Integrated Medical... Read More »
Green Clinic Forms Partnership With Allegiance Health
Green Clinic announced in September 2024 that it will be acquired by Allegiance Health Management’s CEO, Rock Bordelon, and form a partnership with the company. The partnership was announced in a Facebook post by Green Clinic on September 17, 2024. Financial terms of the deal were not disclosed. Green Clinic is a multi-specialty clinic, providing both primary and specialty care to patients of all ages, from newborns to seniors. The company has nine locations across Louisiana. Allegiance Health Management is an acute and post-acute health system based in Bossier City, Louisiana. It operates 15 hospitals in Louisiana, Texas and Mississippi, bringing extensive years of healthcare... Read More »
Telix Buys U.S. Radiopharmacy Network RLS for $230 Million
Telix Pharmaceuticals announced that it has agreed to buy RLS from its parent company, RLS Group. The acquisition of RLS will expand Telix’s North American manufacturing and distribution platform. Kirkland & Ellis acted as advisor to RLS in the transaction. RLS is America’s only Joint Commission-accredited radiopharmacy network, with 31 radiopharmacies covering more than 85% of the population. RLS’ revenue for FY 2023 was $158 million, according to the original deal press release from September 23, 2024. It is based in Miramar, Florida. Telix is a biopharmaceutical company focused on the development and commercialization of diagnostic and therapeutic radiopharmaceuticals. Telix... Read More »Schedule a demo
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