Radiology Partners Expands in North Carolina

Radiology Partners Expands in North Carolina

Radiology practices are hot targets these days. Even as technologies like artificial intelligence and machine learning speed up the number of images read, a trained physician still has the superior knowledge to detect abnormalities. Radiology Partners Inc., a portfolio company of New Enterprise Associates, added Greensboro Radiology to its own portfolio of practices in May. The practice was established through the consolidation of four leading radiology groups in the Triad region of North Carolina over the last 20 years. The group, which now has 68 physicians, provides radiology services and serves 50+ hospitals and imaging centers, and holds key strategic relationships with Cone Health,... Read More »
U.S. Renal Care Gets Big New Backers

U.S. Renal Care Gets Big New Backers

U.S. Renal Care has new owners, as of February 13. It marks the first renal-related transaction in 2019 and it won’t be the last. The national dialysis provider was backed by a consortium of private equity firms such as Leonard Green & Partners, Frazier Healthcare Partners, New Enterprise Associates and Cressey & Company. Stepping in to take over is Bain Capital Private Equity, Summit Partners and Revelstoke Partners, with participation by the company’s executive management team. Financial terms were not disclosed, naturally. U.S. Renal Care works with nephrologists to develop, acquire and operate outpatient treatment centers for people suffering from chronic kidney... Read More »
Welltok Strikes Again, Buying WellPass

Welltok Strikes Again, Buying WellPass

Welltok, a portfolio company of New Enterprise Associates since 2013, has boosted its consumer health platform, CafeWell, with the acquisition of WellPass. WellPass was formed in 2017 through the merger of Sense Health and Voxiva. The latter worked with many large payers and organizations on mobile and digital health products. Sense Health focuses on Medicaid care managers. Wellpass has created interactive, popular text-based programs such as Text4Baby, Text2Quit and Care4Life, and works with a roster of Medicaid plans, state Medicaid agencies and departments of health, as well as providers and pharmaceutical companies. The acquisition will allow Wellpass’ current clients to more... Read More »
Radiology Partners Expands in North Carolina

Stryker Strengthens Its Spinal Division with K2M Deal

Stryker Corporation (NYSE: SYK) announced its third deal of the year on August 30, acquiring K2M Group Holdings (NASDAQ: KTWO), based in Leesburg, Virginia. Stryker will pay $27.50 per share in an all-cash transaction. The purchase price of approximately $1.4 billion represents a 27% premium over K2M’s average closing price in the 90 trading days ended August 29, 2018. K2M shares rose nearly 26% on news of the deal, opening at around $27.40 per share on August 30, 2018. Stryker’s shares were down nearly 1%, to approximately $170. K2M makes complex and minimally invasive spine “solutions,” which are implants, disposables, and instruments primarily to hospitals for... Read More »
Physician Practices Kept Consolidating in Q2:18

Physician Practices Kept Consolidating in Q2:18

Investor interest in physician medical groups ramped up significantly in 2018, with 55 transactions announced in the first quarter, followed by 53 deals in the second quarter. The second quarter deals represent 29% of the total of 184 announced in the previous 12 months. Deal volume slipped 4% compared with the previous quarter but posted a 61% increase versus the same quarter a year earlier. Physicians in small practices have been under growing pressure from regulations and legislation, changes in reimbursement cycles and episodes of care. Under MACRA, they may be the lead provider when it comes to bundled payments, which makes primary care and hospital-based physicians of interest to... Read More »