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Northlane Capital Partners Acquires United States Drug Testing Laboratories
Brown Gibbons Lang & Company, a middle market investment bank, announced the acquisition of United States Drug Testing Laboratories Inc. (USDTL) by Northlane Capital Partners (NCP). USDTL provides substance abuse toxicology services worldwide for healthcare facilities, child protection agencies, the Department of Defense, legal services, research, businesses and analytical/forensic laboratories. USDTL has more than 160 employees serving more than 1,000 customers in the United States and internationally. Founded in 2003, NCP manages a $1 billion private equity fund investing in control buyouts of middle market companies based in North America. It looks for platform... Read More »
Cube Biotech Acquires IBA Lifesciences
Cube Biotech, a portfolio company of private equity firm Archimed, announced on January 14 that it entered into an agreement to acquire IBA Lifesciences. IBA Lifesciences is a biotechnology company providing products and custom specific services for life science applications in academia and industry worldwide. It is based in Goettingen, Germany and was founded in 1996. Backed by Archimed since 2021, Cube Biotech is a biotechnology company based in Monheim, Germany. It is a provider of solutions for protein purification, stabilization and structural studies. The combination of the two companies will leverage their complementary strengths to deliver solutions in protein... Read More »
Economic and Election Uncertainty Slows 2024 Physician Group M&A Activity
The Physician Medical Group (PMG) sector experienced a decline in deal volume throughout the year. In 2024, 473 PMG deals were announced, a 12% decline from the 537 PMG deals announced in 2023 and a 24% decrease from the 622 deals reported in 2022. In the fourth quarter of 2024, there were 101 PMG deals, which is the slowest quarter for the year. Some advisors that the LevinPro HC team has spoken to throughout the year have noted several significant factors contributing to the decline in PMG deal volume. Common themes that advisors cited were uncertainty surrounding the election, an unstable economy, higher interest rates and even heightened scrutiny surrounding private equity... Read More »
Branford Castle Expands In New Jersey
Branford Castle announced its first acquisition of 2025 with the purchase of Eastern Dental Management for an undisclosed price. The seller was Staple Street Capital, a private investment firm. Eastern Dental Management is a dental service organization (DSO) based out of 20 locations across New Jersey. It was founded more than 30 years ago. Branford Castle is a New York-based private equity firm focused on lower middle-market investments, with more than 35 years of helping to grow businesses. The company typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford Castle was advised by its legal... Read More »
Health Catalyst Acquires Upfront Healthcare Services for $86 Million
On January 13, Health Catalyst, Inc. announced that it was acquiring Upfront Healthcare Services. According to Health Catalyst’s 8-K SEC filing, Upfront is being acquired for approximately $86 million and potential additional aggregate consideration of approximately $33.4 million. Upfront is a patient engagement platform provider based in Chicago. Upfront provides a patient activation and engagement platform and a proprietary strategic marketing analytics and content personalization solution for healthcare enterprises. Its automated patient acquisition and retention solutions enable healthcare organizations to build loyalty and guide patients to optimal care by leveraging... Read More »
PwC’s Behind the Numbers of Medical Costs
PwC’s Health Research Institute published an article in early January 2025 that projects commercial healthcare spending growth will hit a 13-year high in 2025, with an 8% increase in the Group market and 7.5% in the Individual market. This is driven by inflation, the rising cost of prescription drugs and increased behavioral health utilization. Updated 2023 and 2024 trends reveal higher-than-expected costs due to increased use of GLP-1 drugs and deferred pandemic care. While cost-saving measures like biosimilars offer some relief, they do not counter the increasing expenses. The report highlights the need for healthcare organizations to develop strategies that balance cost... Read More »
Vesey Street Capital Partners Completes ComplexCare Solutions Carveout
Vesey Street Capital Partners (VSCP) announced on January 13 that funds managed by VSCP have completed the acquisition of ComplexCare Solutions (CCS). CCS was acquired in a carveout from Inovalon and represents the fifth carveout transaction completed by VSCP, according to the original deal press release from January 13, 2025. CCS is an independent health assessment and member engagement platform. With its team of nurse practitioners, CCS offers in-home and telehealth consultations and member engagement services including encounter facilitation, continuity of care, health risk assessment and point-of-care testing solutions to encourage patient engagement and improve community health. VSCP... Read More »
Johnson & Johnson Buys Intra-Cellular Therapies For $14.6 Billion
Johnson & Johnson (J&J) announced on January 13 that it will acquire all outstanding shares of Intra-Cellular Therapies for $132.00 per share in cash for a total equity value of approximately $14.6 billion. Intra-Cellular Therapies is a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system disorders. According to its most recent annual report, Intra-Cellular Therapies had revenues of $462 million during fiscal year (FY) 2023, and EBITDA was reported as a loss of nearly $158.9 million during FY 2023. Intra-Cellular has developed CAPLYTA® (lumateperone), a once-daily oral therapy approved to treat adults with... Read More »
Allied OMS Acquires Parkway Oral Surgery & Dental Implant Center
Allied OMS, a portfolio company of Chicago-based private equity firm DuneGlass Capital, announced its first acquisition of 2025 with the purchase of Parkway Oral Surgery & Dental Implant Center. Parkway Oral Surgery & Dental Implant Center is an oral surgery practice with one location in Houston, Texas. According to its website, there are two physicians on staff: Dr. Laith Mahmood and Dr. Duc Lam. Allied OMS is a doctor-owned, doctor-led management services organization in the oral and maxillofacial surgery space. Headquartered in Southlake, Texas, Allied OMS has 41 surgeons serving patients out of 36 locations across California, Colorado, New York, Oregon, Texas... Read More »Schedule a demo
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