Insights

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for June 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 - June 3, 2024.

• Align Capital Partners’ toxicology testing solutions provider Premier Biotech has acquired Desert Tox, a provider of Substance Abuse and Mental Health Services Administration certified laboratory testing services. Read more about the acquisition here.
• AssureCare, a healthcare technology company, has further expanded its AssureRx® medication management solutions portfolio with the acquisition of technology from Cureatr and SinfoniaRx, a national, value-based medication management services company focused on improving quality and reducing total cost of care. Click here to learn more.
• Edwards Lifesciences [NYSE:EW], the Irvine, CA-based developer of heart disease and critical care products, announced it has entered into a definitive agreement to sell its Critical Care business to Becton, Dickinson and Company [NYSE: BDX], an East Rutherford, NJ-based medical technology company, in an all-cash transaction valued at $4.2B. View the announcement here.
• Health Catalyst, Inc., a provider of data and analytics technology and services to healthcare organizations, announced it has successfully completed its acquisition of Carevive Systems, an oncology-focused health technology company centered on understanding and improving the experience of patients with cancer. Read more about the acquisition here.
• Med Center Health, a Bowling Green, KY-based nonprofit health system, will acquire Logan Memorial Hospital in Russellville, KY, effective July 1. Learn more about the acquisition here.
• National HealthCare Corporation, a senior care provider, announced that it has entered a purchase and sale agreement to acquire the White Oak Senior Living portfolio operating in North Carolina and South Carolina, including its long-term care pharmacy. View the press release here.
• Nordic Capital, a sector-specialized private equity investor, has entered into an agreement to sell Sunrise Medical, a provider of assistive mobility solutions, to global investment firm Platinum Equity. Click here to learn more.
• Oregon Health & Science University, based in Portland, OR, and Legacy Health, also Portland, OR-based, have signed a binding, definitive agreement to unite as one health system under OHSU Health. Read the announcement here.
• Permira, a global investment firm, and PharmaCord, a provider of patient services for the pharmaceutical industry, announced that a company backed by the Permira funds has signed a definitive agreement to make a substantial investment in PharmaCord. Learn more about the investment here.
• Red Iron Group, a Menlo Park, CA-based private investment firm, announced a significant growth investment in 100% Chiropractic, a provider of chiropractic care through its network of franchised clinics. Read more about the investment here.
• SeaFort Capital announced that it made a majority investment in The Medicus Group, which represents Mable Health Inc.'s inaugural investment in the orthotics, prosthetics, and mobility aids industry. View the press release here.
• Shannon Medical Center has signed an agreement to acquire River Crest Hospital, a local behavioral health center in San Angelo, TX, from Universal Health Services, Inc. Read more about the acquisition here.
• Solarity, a provider of automated clinical data processing solutions for acute and ambulatory healthcare providers, announced that it has received a strategic growth investment from TA Associates, a leading global private equity firm. Read more about the investment here.
• Stryker [NYSE:SYK], a Michigan-based medical technology firm, has agreed to acquire Artelon, specialized in innovative soft tissue fixation products for foot and ankle and sports medicine procedures. Learn more about the acquisition here.
• Tenex Capital Management announced an investment in Behavioral Innovations, a provider of center-based Applied Behavior Analysis therapy (ABA) to early intervention children with Autism Spectrum Disorder (ASD) and other related developmental disabilities.TripleTree served as the exclusive financial advisor to Tenex Capital Management for this transaction. Read more about the investment here.
• Waystar, a private equity-owned provider of software that helps hospitals and doctors' practices manage their finances, has raised $968M in its initial public offering. Read more about the IPO here.
• Zenyth Partners announced that it has made an investment in LifeCare Home Health Family, a home health provider, in partnership with its management team. Click here for more on the investment.

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.