Q3:2018 Health Care Deal Dollar Volume

Q3:2018 Health Care Deal Dollar Volume

A total of $30.4 billion was spent to fund the 435 transactions reported in Q3:18, based on disclosed prices. The Hospital sector dominated the dollar side of deal making for the first time since 2013, accounting for 27% ($8.2 billion) of spending. A single deal accounted for 68% of the Hospital sector’s total, as RCCH HealthCare Partners, a portfolio company of Apollo Global Management, took LifePoint Health (NASDAQ: LPNT) private in a $5.6 billion deal. As the largest deal announced during the quarter, it accounted for just 18% of the $30.4 billion total. The Other Services sector made up 16% ($4.8 billion) of spending in the third quarter. Two deals helped to put this sector on the... Read More »
Irving Place Capital Exits Universal Hospital Services

Irving Place Capital Exits Universal Hospital Services

Irving Place Capital Management scored big in August — $1.74 billion big. The private equity firm sold Universal Hospital Services, a medical equipment management company, to Federal Street Acquisition Corp. (NASDAQ: FSAC), a special purpose acquisition company sponsored by an affiliate of Thomas H. Lee Partners. Universal Hospital’s diverse customer base includes over 4,000 acute care hospitals, 4,000 alternate site providers, and over 150 major medical equipment manufacturers. Under the terms of the agreement, Federal Street and Universal Hospital will combine under a new holding company to be named Agiliti, Inc., which intends to apply to have its common stock and warrants... Read More »