Air Methods Corp. Flies to American Securities
Air Methods Corporation (NASDAQ: AIRM), a global air medical transportation company, has been on the acquisition trail since the late 1990s, announcing 12 deals targeting smaller air ambulance operators. Now it’s a takeover target itself, thanks to activist shareholder Voce Capital Management LLC. Voce Capital, and its managing director J. Daniel Plants, had been calling for Air Methods management to put the company on the block as far back as 2015. In February 2017, the investment firm launched a fight for four board seats and publicly criticized AIRM’s financial returns and “a multi-year syndrome of operational, strategic and governance failures.” Air Methods... Read More »Bain Capital Expands its Pediatric Home Health Platform
In less than a month, Bain Capital Private Equity has built a major pediatric home health care platform. It began on December 19, 2016, with Bain’s announcement that it was acquiring Dallas, Texas-based Epic Health Services, from Webster Capital. On January 17, 2017, the global private equity firm announced a deal for Atlanta, Georgia-based PSA Healthcare, sold by J.H. Whitney Capital Partners. Financial terms were not disclosed in either deal. J.H. Whitney acquired PSA Healthcare, then known as Pediatric Services of America, Inc., in March 2015, for an undisclosed price. PSA specialized in caring for medically fragile children at home, caring for more than 2,500 patients through 65... Read More »December 2016 Didn’t Deliver a Year-End Boost
The final month of the fourth quarter is typically a busy one for deal makers in all industries. Last year, some health care deal makers apparently got a rest. Deal volume in December 2016 was an anemic 119 transactions, compared with 131 deals in November and 148 in December 2015. The Services sectors accounted for 55% of the deals in December, which is on the low side. Consider that, in November, Services accounted for 69% of the month’s transactions, and even 70% of the total in December 2015. Spending on those deals reached $15.4 billion, a relatively modest amount until it is compared with November’s $8.7 billion total (+78%) and December 2015’s $12.3 billion total (+26%). Suddenly,... Read More »Home Health Sector Closes 2016 in ‘Epic’ Deal
The year is ending on a high note for mergers and acquisitions in the Home Health & Hospice sector. Deal volume reached 54 transactions by mid-December, and could go higher as we finish up the year. Last year ended with 51 transactions. Consolidation continued, as buyers such as Kindred Healthcare (NYSE: KND) and Epic Health Services announced four acquisitions apiece. Three other companies, Almost Family (NASDAQ: AFAM), Jordan Health Services and PSA Healthcare, each made three acquisitions. Eight private equity firms made nine deals. Blue Wolf Capital Partners was the sole firm to announce two in this sector. Deal value wasn’t as impressive in 2016, but that is because some of... Read More »Schedule a demo
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