Tower Health Adds Urgent Care and ASC Deals

Tower Health Adds Urgent Care and ASC Deals

Tower Health, a six-hospital system across southeastern Pennsylvania, is growing its network rather aggressively lately. On October 2, it announced the acquisition of Premier Urgent Care, which runs 19 urgent care centers in Pennsylvania and Delaware. A week earlier, it reported a new joint venture with United Surgical Partners International (USPI), part of Tenet Healthcare (NYSE: THC). Tower Health is the new name for the former Reading Health System, based in West Reading, Pennsylvania. Until May 2017, the system consisted of Reading Hospital, which housed a cancer institute, a cardiac center, a rehabilitation hospital and a physician network of more than 1,000 physicians. On May 30 of... Read More »
Tenet Healthcare Rethinks Aspen Deal

Tenet Healthcare Rethinks Aspen Deal

Tenet Healthcare Corporation (NYSE: THC) is selling UK-based Aspen Healthcare Ltd. after only three years of ownership. NCM Healthcare UK Ltd., a subsidiary of NCM Health plc (LSE: NCM), is the buyer, paying $332 million. Tenet acquired the nine-facility company from Welsh, Carson, Anderson & Stowe (WCAS) in March 2015, for $215 million. The transaction was announced simultaneously with Tenet’s acquisition of  a 5o.1% stake in United Surgical Partners International, another WCAS portfolio company, for $425 million. WCAS, together with other investors, retained a 49.9% interest in USPI at the time of the announcement. On April 26, 2018, Tenet announced that it acquired... Read More »

Good-Bye, ACA. Now What?

And so it begins. A new year, a new administration, and a foreboding that things can and will go wildly out of control in the healthcare industry, as the new administration dismantles the Affordable Care Act and doesn’t bother to replace it. Judging from the market’s behavior since the November 8 election, the notion that a Hillary Clinton victory was “baked in” to every healthcare deal doesn’t hold. Certainly some deals may have been put on hold following Donald Trump’s election, but 2016 ended with 1,536 deals, in our preliminary count. That’s 1% higher than 2015, which was the first year to break 1,500 transactions. Spending on deals in 2016, while not in record territory, was healthy.... Read More »

Outpatient Surgery Centers Take the Spotlight

After a record-setting year in 2016, the Physician Medical Group sector got off to a swift start in  2017, with a deal that is telling of changing healthcare paradigms, especially the shift from inpatient to outpatient care. Only two weeks into the new year, and seven transactions have been announced for physician practices and management companies. Envision Healthcare Corp. (NYSE: EVHC), the entity that officially combined Envision Healthcare Holdings and AmSurg Corp. (NASDAQ: AMSG) on December 1, 2016, announced three practice acquisitions in the first week alone. Privately held Dermatology Associates, Family Care Partners and Platinum Dermatology Partners announced one deal each. Then... Read More »