Kindred and Select Medical Swap LTACs

by | Feb 23, 2016 2:22 pm | Hospitals

It’s getting so you can’t tell the players without a program. On February 18, Kindred Healthcare Inc. (NYSE: KND) and Select Medical Holdings Corporation (NYSE: SEM) announced they were trading nine long-term acute care (LTAC) hospitals in various markets. Kindred got the larger part of the trade, acquiring the operations of five of Select Medical’s LTACs for a total of 233 beds. They are located in Indianapolis, Indiana; San Antonio, Texas; Houston, Texas; Denver, Colorado; and Colorado Springs, Colorado. The hospital in Houston occupies the sixth and seventh floors of the Houston Medical Center. Select Medical took on four of Kindred’s LTACs with a combined total... Read More »
Select Medical Acquires Physiotherapy

Select Medical Acquires Physiotherapy

by | Jan 26, 2016 8:00 am | Hospitals, Rehabilitation

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 »

FastMed Urgent Care Goes to ABRY Partners

by | May 26, 2015 6:14 pm | Other Services

Yet another major transaction for an urgent care provider was announced last week, as Comvest Partners sold its interest in FastMed Urgent Care to ABRY Partners, for an undisclosed price. FastMed is the second largest independent urgent care organization in the United States, with 52 clinics in North Carolina and 35 in Arizona. In April, UnitedHealth Group’s Optum (NYSE: UNH) paid an undisclosed sum for MedExpress, which operates 141 full-service neighborhood medical centers in 11 states. The month before that, Humana Inc. (NYSE: HUM) sold its urgent care subsidiary Concentra Inc. to a joint venture formed by Welsh, Carson, Anderson & Stowe and Select Medical Corporation (NYSE: SEM)... Read More »

Welsh, Carson’s Busy, Billion $$ Week

by | Mar 30, 2015 2:40 pm | Other Services, Private Equity

In case you hadn’t heard, the Welsh, Carson, Anderson & Stowe private equity firm was featured in several deal announcements last week. The largest deal, at $1.06 billion, was for Concentra Inc., a subsidiary of Humana Inc. (NYSE: HUM), which operates urgent care, occupational medicine, physical therapy and other programs. For the transaction, Welsh, Carson formed a joint venture with Select Medical Corporation (NYSE: SEM), which operates specialty hospitals and outpatient rehab clinics. Then there was the sale of a majority stake in its portfolio company, United Surgical Partners Inc. Tenet Healthcare Corporation (NYSE: THC) paid $425 million for a 50.1% interest, and will acquire the... Read More »