April 2018 Healthcare Deals Explode

April 2018 Healthcare Deals Explode

Boom! That was April 2018’s M&A results breaking the sound barrier. With 167 transactions, the monthly deal total (almost) blew away the record for deals in a single month. The current record is now January 2017, with 178 transactions. With time, as more deals come to light, April 2018 may be the new champion. Deal volume was 21% higher than the 138 transactions reported in March 2018, and up 55% compared with April 2017’s 108 transactions. The Long-Term Care sector was a major force behind the surge in deal volume. A record 46 deals were reported, representing a 92% increase over March’s anemic 24 deals, and a 130% gain over the 20 deals reported a year earlier.... Read More »
Welltower and ProMedica Buy QCP and HCRMC

Welltower and ProMedica Buy QCP and HCRMC

Toledo, Ohio is a hotbed of healthcare deal making, all of a sudden. Three companies based there joined together to carve up HCR ManorCare, the financially beleauered tenant of Toledo-based Quality Care Properties, Inc. (NYSE: QCP). Welltower Inc. (NYSE: WELL) and not-for-profit ProMedica Health System joined the fray, and it became one complicated deal. Quality Care Properties was spun out from HCP, Inc. in October 2016, taking with it HCP’s skilled nuring assets, most of which were operated by HCR ManorCare (HCRMC). As of December 31, 2017, QCP owned 259 skilled nursing facilities with 22,205 beds, 59 assisted living/memory care communities with 3,843 units, one 37-bed surgical... Read More »