MARKET ANALYSIS

Healthcare M&A Weekly 3.11.24

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for March 11, 2024.

The healthcare industry is rapidly evolving, with the lines between the healthcare technology and services sectors blurring - creating the catalyst for innovation, transformation, and continued market activity. TripleTree's Healthcare M&A Weekly summarizes recent mergers, acquisitions, and investments shaping the future of healthcare.

To view previous healthcare M&A activity, please review last week's post: Healthcare M&A Weekly - February 26, 2024.

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• 7to7 Dental, a dental service organization (DSO) based out of Texas, has partnered with with GTCR and Avryo Healthcare. Read more about the strategic investment here.

 

• Akari Therapeutics, a biotechnology company based in Boston, MA, and Peak Bio, a US-based clinical-stage biopharmaceutical company, have announced a definitive agreement to merge in an all-stock transaction. Learn more about the merger here.

 

• Alivia Analytics, an AI-based healthcare payment integrity platform, has acquired SourceEdge, a national provider of claims systems serving health plans. Learn more about the acquisition here.

 

• American Family Care, a Birmingham, AL-based provider of urgent care, primary care, and occupational medicine, has received an equity investment from Lorient Capital to support its market expansion. Read more about the investment here.

 

• Aptorum, a clinical stage biopharmaceutical company, and privately held, Hong Kong-based YOOV Group Holding Ltd., a business artificial intelligence and automation platform, have entered into a merger agreement. Click here to learn more about the merger.

 

• C₂N Diagnostics, LLC, a St. Louis, MS-based provider of advanced brain health diagnostics, has received an investment of up to $15M from Tokyo-based Eisai Inc. Read more about the investment here.

 

• Cal-Tec Labs Inc., a Pittsburgh, PA-based calibration lab, has been acquired by Florida-based Medical Technology Associates, a provider of testing, inspection, certification, and calibration backed by PNC Riverarch Capital. Learn more about the acquisition here.

 

• Carolina Oncology Specialists, a cancer care clinic located in Hickory, NC, has partnered with OneOncology, a national platform for independent oncology practices. Read more about the partnership here.

 

• Frontpoint Health, a Texas-based home health and hospice platform and portfolio company of Cimarron Healthcare Capital and Tacoma Holdings, has acquired High Plains Senior Care Group, a home health and hospice company in Texas. Click here to learn more.

 

• Haemonetics, a global medical technology company based in Boston, MA, has entered into a definitive agreement to acquire Chicago, IL-based Attune Medical, a manufacturer of the ensoETM proactive esophageal cooling device. Read more about the acquisition here.

 

• Matter Neuroscience, an app provider of a personalized brain mapping technology, received $26M in funding from ARCH Venture Partners, Polaris Partners, and Exor Partners. Read more about the funding here.

 

• MB2 Dental announced several transactions expanding its footprint in Idaho, Arkansas, and West Virginia. In Idaho MB2 Dental is partnering with Modern Dental (read press release here), in Arkansas MB2 Dental is partnering with Bryan & Curtis General Dentistry (read the press release here), and in West Virginia MB2 Dental entered the market by forging a dental partnership with two locations  (read press release here).

 

• Medline, a manufacturer and supplier of medical supplies, has acquired the manufacturing rights and intellectual property of AG Cuffill from Hospitech Respiration, an Israel-based innovative medical device company. Read more about the acquisition here.

 

• NewSpring Capital has acquired Autism Spectrum Interventions, a provider of specialized therapy for children living with autism spectrum disorder (ASD). View the announcement here

 

• Onelife Senior Living, a family-owned developer and operator, and Ally Senior Living, an operator based in Texas, announced they will merge.  Click here for more about the merger.

 

• Palm Medical Centers, a Texas-based portfolio primary care group of MBF Healthcare Partners II, has acquired two additional primary care practices in Dallas and Duncanville, Texas. Read more about the acquisitions here.

 

• Practis, a healthcare marketing services provider based in Charlotte, N.C., has acquired HearWorks, a marketing agency specializing in AI-enhanced marketing and database automation solutions for audiology practices. View the announcement here.

 

• Rite Aid has agreed to sell a part of its Health Dialog business to Carenet Health, a provider of healthcare engagement, clinical support, telehealth and advocacy solutions. The deal includes the sale of Health Dialog's Nurse Advice Line, Chronic Care Management solution and Shared Decision-Making solution, along with associated client contracts. Learn more here.

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• Sonendo, a dental technology company based in Laguna Hills, CA, has sold its TDO Software business to Valsoft Corporation, a Montreal, Quebec-based holding company for vertical market software businesses. View the annnouncement.

 

• Telix Pharmaceuticals, has agreed to acquire ARTMS Inc., a radioisotope production technology firm based in Burnaby, British Columbia, Canada for $82M. Read more about the acquisition here.

 

• Toney Healthcare, a clinically-oriented consultancy and provider of utilization management, care management, and quality improvement services for health plans, has acquired Rebellis Group, a consulting firm that addresses the needs of Medicare Advantage plans and their partners. TripleTree served as the financial advisor to Toney Healthcare for this transaction. View the announcement here.

 

• Tri-Valley Medical Group, a California based provider of primary care and population health management services in Southern California, has acquired Sequoia Health, a Merced, CA-based multi-specialty independent physician association. Read the press release here.

 

• WebMD Health Corp., a provider of health information services for consumers, physicians, and other healthcare professionals, has acquired Healthwise, a patient and member health education and engagement company. Read more about the acquisition here.

 

• WindRose Health Investors, a New York-based healthcare private equity firm, has acquired CardioOne, a Houston, TX-based physician enablement company serving independent cardiologists, and plans to provide up to $100M of additional capital to support its ongoing growth. Learn more about the acquisition here.

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Transactions outlined in this summary highlight some of the key trends shaping the future of healthcare. Get the latest industry news from TripleTree every week.

This is a partial list of transaction activity across the healthcare industry and is not intended to be a complete listing. Transaction information was identified from various sources and TripleTree may or may not have acted as the financial advisor for the transactions listed. All product names, logos and brands are property of their respective owners. All company, product and service names used in this communication are for identification purposes only. Use of these names, logos and brands does not imply endorsement.