WELL Health Expands Canadian Clinic Network with Shoppers Drug Mart’s Health Clinics
WELL Health Clinic Network Inc., a subsidiary of WELL Health Technologies Corp., announced that it has entered into an agreement with Shoppers Drug Mart Inc. to acquire all of the primary care medical clinics operated by Shoppers under the name The Health Clinic by Shoppers™. Post-close, WELL will rebrand these clinics under the WELL Clinic brand. The Health Clinic by Shoppers™ comprises 10 clinics across Canada (four in British Columbia and six in Ontario), with more than 35 physicians on staff. WELL expects the assets to contribute approximately $8 million in annual revenue, according to the original deal press release published on PR Newswire on April 16, 2024. WELL Health Clinic... Read More »
Commonwise Home Care Announces Acquisition of Caregivers of Charleston
Commonwise Home Care has announced its acquisition of Caregivers of Charleston. According to data captured in the LevinPro HC database, this acquisition marks the 24th Home Health & Hospice transaction of 2024. Caregivers of Charleston offers 24-hour caregiving services and home health aides for all ages in the Charleston, South Carolina area. The company’s services include companionship, dementia care, personal care, live-in, end-of-life and respite assistance. Founded in 2013, Commonwise Home Care is a premium home care agency headquartered in Charlottesville, Virginia. The integration of Caregivers of Charleston into Commonwise Home Care is expected to enhance the range and... Read More »
Elevance Health Purchases New York Medicaid Plan
Elevance Health has announced its plans to acquire Centers Plan for Healthy Living, a New York-based Medicaid long-term care plan. Centers Plan for Healthy Living is a managed care organization with 53,000 members. Elevance Health currently has 57,000 long-term care enrollees across the state of New York. Elevance Health, formerly Anthem, Inc., connects consumers, families and communities to the care, support and resources they need to lead healthier lives. Its companies serve more than 119 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical and complex care solutions. According to its full-year financial report for 2023, Elevance’s annual operating... Read More »
Gauge Capital Acquires Lucent Health
Cain Brothers, a division of KeyBanc Capital Markets, announced that it served as exclusive financial advisor to Lucent Health Solutions in its acquisition by Gauge Capital. Lucent Health Solutions is a leading third-party administrator serving the self-insured employer market, with a fully integrated care management solution. It was previously backed by NaviMed Capital, which acted as the seller in this transaction. Gauge Capital is a private equity firm specializing in management buyouts, recapitalizations, divestitures, privatization, consolidation and growth investments in middle-market companies. Gauge invests in five key sectors: business services, food and... Read More »
Vista Apex Acquired by Behrman Capital
On April 10, Behrman Capital announced that it entered into an agreement to acquire Vista Apex. Vista Apex manufactures a variety of consumable dental products for preventative oral hygiene, endodontics and restorative dentistry, including RE-GEN™ Bioactive Bulk Fill Composite, a popular bulk fill, dual-cure methacrylate-based material formulated to allow clinicians to fill all classes of restorations without shrinkage. The company was founded in 1997. Behrman Capital, a private equity firm, has raised more than $3 billion since its formation in 1991. Healthcare services is one of the firm’s three industry focuses. It is based in New York City. This transaction is... Read More »
Insider’s Insight: Analyzing MOB Market Trends with Mindy Berman of JLL Capital Markets
Despite a recent uptick in M&A activity in Q1:24, the medical office building (MOB) market remains in flux. To understand the underlying dynamics, we spoke with industry expert Mindy Berman, Senior Managing Director in the Healthcare Capital Markets Group at JLL, a leading global commercial real estate and investment management company. JLL is the top capital markets intermediary in both the United States and globally, as well as the leading MOB broker in the United States. Between 2017 and 2022, JLL advised on 35% of all medical office sales, amounting to more than $7 billion in disclosed prices. The company has remained active since then, with 26 transactions announced during 2023,... Read More »
Vertex Pharmaceuticals Purchases Alpine Immune Sciences $4.9 Billion
Vertex Pharmaceuticals announced that it has agreed to acquire Seattle-based Alpine Immune Sciences for $4.9 billion. Alpine Immune Sciences is a clinical-stage biopharmaceutical company, which is engaged in discovering and developing protein-based immunotherapies to treat autoimmune and inflammatory diseases. The company’s approach includes a proprietary scientific platform that converts native immune system proteins into differentiated, multi-targeted therapeutics. According to its most recent annual report, the company’s revenue for FY 2023 was approximately $58.9 million, and EBITDA was -$43.3 million. Vertex Pharmaceuticals is an American biopharmaceutical company based in... Read More »
Sanford Acquires Women’s Health Center in Williston, North Dakota
Sanford Health announced its expansion into the Williston, North Dakota area with its recent acquisition of Great Plains Women’s Health Center. Great Plains Women’s Health Center is a full-service practice that addresses the obstetric and gynecologic (OB/GYN) needs of women at every stage of life. According to its website, the practice has four providers on staff. Sanford Health is one of the largest rural health systems in the nation. Headquartered in Sioux Falls, South Dakota, the organization serves 1.4 million patients and nearly 200,000 health plan members across 250,000 square miles. The integrated health system has 45 hospitals, 211 clinic locations, more than 160 Good Samaritan... Read More »