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 24, 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 17, 2024.

• AMSURG, a provider of ambulatory surgery center services, and Comprehensive EyeCare Partners, a vision care practice organization, has acquired Alta Rose Surgery Center, a freestanding outpatient ophthalmology surgery center. Read more about the acquisition here.
• Boston Scientific (NYSE:BX), a global medical technology company designing devices to treat diseases, has entered a definitive agreement to acquire Silk Road Medical (NASDAQ: SILK), a medical device company developing products to prevent stroke in patients with carotid artery disease via transcarotid artery revascularization. Boston Scientific paid $27.50 per share, reflecting an enterprise value of ~$1.2B. Click here to learn more.
• Carrier Global Corporation, on behalf of its Sensitech business, entered into a definitive agreement to acquire the Monitoring Solutions business of Berlinger & Co. AG, a company that specializes in monitoring temperature-sensitive goods in the pharmaceutical and life science, clinical trial and global health segments. Learn more about the acquisition here.
• Cone Health and Risant Health have signed a definitive agreement under which Cone Health will become part of Risant Health, pending regulatory approvals. Risant Health is a nonprofit, charitable organization created by Kaiser Foundation Hospitals to bring together like-minded organizations, increase access to value-based care and coverage, and raise the bar for approaches that bring the best health outcomes. Click here to learn more.  
• Emergent BioSolutions, a multinational specialty biopharma company for infectious disease and opioid overdose, has entered a definitive agreement to sell its drug product facility in the Baltimore area for $30M to Bora Pharmaceuticals, a Taiwanese pharmaceutical company. View the announcement here.
• HHAeXchange, a tech-enabled services company providing home care management solutions, acquired Cashé Software, a Minnesota-based company providing home care operations and billing solutions. Read the press release here.
• LUKE Holdings, a healthcare staffing company for the U.S. government, has acquired Coastal Clinical and Management Services to enhance support for government agencies, particularly in the critical areas of behavioral health, caregivers, and broader healthcare services. Read more about the acquisition here.
• Medical Specialists of the Palm Beaches (MSPB), a leading primary care physician practice in Florida, announced the acquisition of Family Medical Center, a physician practice based in Palm Beach. Learn more about the acquisition here.
• Praia Health, a consumer platform delivering individualized health solutions, has announced a partnership with CLEAR, the security airport company commonly used in airports, for identity verification within health systems. Click here to read the announcement.
• Pavion, an industry-agnostic integrated solutions provider for fire, safety, security, and critical communications, has acquired Signet, a Massachusetts-based solutions provider for enterprise technology. The acquisition expands Pavion's healthcare critical communications capabilities. Learn more here.
• Petauri, a pharmaceutical services platform, has acquired two UK-based companies: Mtech Access, a premier full-service global market access solutions provider; and Delta Hat, an experience-led company specializing in the technical aspects of evidence-based value demonstration. View the press release here.
• LongVue Capital's Pinnacle Clinical Research, a leading site organization specializing in complex therapeutic areas, has completed a series of investments in Kerwin Medical Center, The Cognitive and Research Center of New Jersey, Bellaire Clinical Research, Palmetto Clinical Research - Low County, and Dallas Research Institute. Read more about the investments here.
• Princeton Medspa Partners (PMP), a franchisor and provider of non-invasive aesthetics, has acquired Mirabile Beauty, Health & Wellness of Overland Park, Kansas. This marks the 11th medical spa acquired by PMP and the first since receiving $120M growth financing from BC Partners. Click here for more on the acquisition.
• PriorityHealth, a Michigan-based health plan serving over 1 million members, announced its plan to acquire Physicians Health Plan of Northern Indiana (PHPNI), a health plan with over 52,00 members in Indiana and Ohio. Read more about the acquisition here.
• Riverpoint Medical, a medical technology company designing devices and implantable fibers, acquired CP Medical, a Georgia-based manufacturer of devices for animal wound closures. Riverpoint is a portfolio company of Arlington Capital Partners and the add-on acquisition helps accelerate Riverpoint's growth in its end markets. View the announcement here.
• Sharecare (Nasdaq: SHCR) has agreed to become acquired by an affiliate of Altaris, an investment firm focused on healthcare. Sharecare’s comprehensive and data-driven virtual health platform is designed to help people, providers, employers, health plans, government organizations, and communities optimize individual and population-wide health and well-being. Sharecare stockholders will receive $1.43 in cash per share. The merger consideration of $1.43 per share represents a premium of approximately 85% over the closing price of Sharecare on June 20, 2024. Upon the completion of the acquisition, Sharecare will become a privately held company and its common stock will no longer be listed on Nasdaq. Learn more about the investment here.
• Straine Dental Management (SDM), a dentist-owned services organization, has acquired three Maine dentist practices owned by Dr. Shilo Annis. This acquisition expands SDM's footprint into Maine, its 14th state. Click here to learn more.
• Sullivan Cotter Holdings, a leading human capital information management for healthcare companies, has acquired Lotis Blue Consulting, a firm based in Chicago offering consulting services. View the press release here.
• Truentity Health, a pharmacy technology solutions platform based in North Carolina, has announced a merger with IndyCare Health, a retail health and wellness center. Read more about the merger here.

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.