Outpatient Surgery Centers Take the Spotlight

After a record-setting year in 2016, the Physician Medical Group sector got off to a swift start in  2017, with a deal that is telling of changing healthcare paradigms, especially the shift from inpatient to outpatient care. Only two weeks into the new year, and seven transactions have been announced for physician practices and management companies. Envision Healthcare Corp. (NYSE: EVHC), the entity that officially combined Envision Healthcare Holdings and AmSurg Corp. (NASDAQ: AMSG) on December 1, 2016, announced three practice acquisitions in the first week alone. Privately held Dermatology Associates, Family Care Partners and Platinum Dermatology Partners announced one deal each. Then... Read More »
Select Medical Acquires Physiotherapy

Select Medical Acquires Physiotherapy

Select Medical Holdings Corporation (NYSE: SEM) announced today it has entered into a merger agreement to acquire Physiotherapy Associates Holdings, Inc. for $400 million in cash. Physiotherapy is a national provider of outpatient physical rehabilitation care offering a wide range of services, such as general orthopedics, spinal care and neurological rehabilitation, and orthotics and prosthetics services. As of September 30, 2015, Select operated 110 long term acute care hospitals and 17 acute medical rehabilitation hospitals in 28 states, and 1,033 outpatient rehabilitation clinics in 31 states and the District of Columbia. This acquisition continues their growth. In 2015, Select formed a... Read More »

Cardinal Health Buys NaviHealth

Rumors surfaced last week that Nashville-based NaviHealth, a portfolio company of Welsh, Carson, Anderson & Stowe, was about to be acquired by Cardinal Health (NYSE: CAH). Our friend in Nashville, Milt Capps, published the story on his Venture Nashville Connections blog on August 24. Sure enough, the story was verified on August 25 when Cardinal issued a FAQ statement about the $290 million deal. What does a medical products distributor like Cardinal see in a post-acute care coordinator like NaviHealth? Quite a lot, since its sweet spot is managing bundled payments in the post-acute continuum of care. The acquisition of even 71% of NaviHealth gives Cardinal Health scale and the... Read More »