BayMark Health Announces Three Deals
BayMark Health Services announced a trio of deals last week alone, doubling its transaction count for 2020, based on results from Healthcare Deals Database. With the backing of private equity firm Webster Equity Partners, the nationwide behavioral health provider acquired three new providers across three states for an undisclosed sum. For the first deal, BayMark Health acquired Portland, Maine- based Liberty Bay Recovery Center, a residential treatment facility (59 beds) that offers treatment for a variety of addictions including not only opioids but also alcohol, cocaine, methamphetamine, prescription drugs and other substances. It provides multiple levels of care including residential,... Read More »
Retina Consultants of America Moves into South Carolina
Retina Consultants of America, a portfolio company of Webster Equity Partners, is wasting no time to expand. The physician group was just formed this past March through the merger of Retina Consultants of Houston, Retina Group of Florida, Long Island Vitreoretinal Consultants, California Retina Consultants and Retinal Consultants Serving Northern California in a deal valued at $350 million. Combined, the practices generated EBITDA of roughly $80 million. Now, Retina Consultants of America has added Palmetto Retina Center, LLC (PRC), which was founded in 2001 and serves central South Carolina. Its physicians offer comprehensive care in the treatment of vitreous and retinal diseases. PRC is... Read More »
Bristol Hospice Adds California-based Hospice
Bristol Hospice, a portfolio company of Webster Equity Partners, is now the leading hospice provider in California, adding Health Essentials, LLC (d/b/a Remita Health) for an undisclosed sum. SV Health Investors, Petra Capital Partners and Bessemer Ventures are all selling Remita Health in this acquisition. Remita Health provides compassionate hospice and palliative care at six hospice care locations across Arizona, California and Nevada. With the addition of Remita Health, Bristol Hospice will become the leading hospice provider in the state of California (the largest hospice market in the U.S.) by adding four service locations in Orange County, Northern Los Angeles, Central Los Angeles,... Read More »
Physician Medical Group M&A During COVID-19
Things are tough for physician medical groups, there’s no doubt about that. Since March 18, 2020, when the Centers for Medicare & Medicaid Services recommended that all elective, nonessential medical, surgical and dental procedures be delayed for the duration of the pandemic, a major source of revenue for many practices, the M&A market has dwindled. May 2020 only had four transactions announced, one fifth of May 2019’s amount, according to our Deal Search Online database. A survey by The Medical Group Management Association revealed that physician groups reported a 55% decrease in revenue and 60% decrease in patient volume since the beginning of the crisis. Approximately 75% of... Read More »Schedule a demo
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