HealthEdge Buys Altruista Health

HealthEdge Buys Altruista Health

HealthEdge, a portfolio company of The Blackstone Group (NYSE: BX), announced the acquisition of Altruista Health, Inc. for an undisclosed sum. Altruista Health delivers care management and population health management solutions that support value-based care models. Altruista serves approximately 30 customers representing over 16 million members and has developed deep expertise serving complex patient populations across Managed Medicaid and Medicare Advantage plans. Its GuidingCare technology platform integrates care management, care coordination and quality improvement programs through a suite of web applications. HealthEdge provides healthcare IT solutions that health insurers use to... Read More »
Gryphon Investors Gets into Autism Treatment with Learn Behavioral

Gryphon Investors Gets into Autism Treatment with Learn Behavioral

Learn Behavioral, formerly Learn-It Systems, has a new owner. Gryphon Investors acquired a majority stake in the behavioral health company from LLR Partners in mid-March. Financial terms weren’t disclosed, of course, but the deal wasn’t cheap. This is Gryphon’s first investment in the Behavioral Health Care space. LLR put the company up for sale in late October 2018. Even with this deal announcement, LLR hasn’t exited the autism-treatment company completely. The firm and Learn senior management will maintain minority stakes alongside Gryphon. Based in Baltimore, Learn Behavioral’s primary focus is the delivery of applied behavior analysis (ABA) therapy to... Read More »
Behavioral Health Deals Set a Strong Pace in H1:18

Behavioral Health Deals Set a Strong Pace in H1:18

The Behavioral Health Care sector has been on a hot streak for more than three years now. In 2018, the pace may be picking up even more. In the first half of the year, 34 transactions were announced, compared with 29 in the first half of 2017. Prices for these deals, which are primarily between private equity firms and/or not-for-profit entities, are scarce. Only one deal in this sector disclosed a price so far this year, an approximately $108 million transaction in South Africa, for privately held Akeso Clinics. Netcare Limited, the second largest private hospital company in South Africa, was the buyer. In both years, companies that treated substance abuse disorders were most popular with... Read More »
A Bubble in Healthcare Services? What Bubble?

A Bubble in Healthcare Services? What Bubble?

Bubble talk is back. Anyone who’s bought a healthcare services company in 2018 has hit a hard reality. Depending on the sector, multiples are the highest they’ve ever been, crazy or insane. We attended the ACG New York chapter’s annual healthcare deal conference, titled “Health Care Deals 2018: Where Have We Been and Where Are We Going…” (ellipsis theirs) on a recent May morning. With a title like that, and a market as it is now, the question “Who’s investing in health care these days?” elicited the response, “Who isn’t investing in health care now?” The universe of investors has broadened to include Amazon (NASDAQ:... Read More »
Home Health & Hospice’s Biggest Deals

Home Health & Hospice’s Biggest Deals

As a prelude to our interactive webinar, “Home Health & Hospice M&A: The Latest Trends,” on May 24, we put together a chart on the largest U.S. deals in the sector since 1993, when our database was created. The result is a map of the mergers and acquisitions that bring us to today’s frenzied home health & hospice market. Our panel includes Jim Glynn, CEO of Jet Health, Inc.; Mark Kulik, managing director of The Braff Group; and Burk Lindsay, managing director of Raymond James. Join us as we discuss the latest deals, the wild valuations, and what lies ahead in this sector. The largest transactions, measured as $1 billion or more, were all announced in the past... Read More »