MARKET ANALYSIS

Healthcare M&A Weekly 12.12.22

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 activity and highlights the industry transactions shaping the future of healthcare.
 

• Align Capital Partners announced it completed the recapitalization of Premier Biotech, a provider of point-of-care drugs of abuse testing products and laboratory services for customers across workplace, government and behavioral health end markets. ACP is partnering with the Company’s senior management team to support Premier Biotech’s continued growth and innovation. Read more here.  

 

• BayMark Health Services, an operator of more than 70 OBOT programs across 19 states providing outpatient treatment with buprenorphine and buprenorphine compounds, announced the acquisition of Nashville Recovery, an office-based opioid treatment (OBOT) program near Downtown Nashville. Established in 2017, Nashville Recovery provides OBOT services to individuals living with an opioid use disorder, via both in-office and telemedicine visits.  BayMark will provide Nashville Recovery with more resources and a patient-focused culture while maintaining continuity for patients. Read more here.  

 

• BV Investment Partners, a middle-market private equity firm focused on the tech-enabled business services, software and IT services sectors, announced an investment in Imagenet, LLC, a provider of back-office support technology and tech-enabled outsourced services to healthcare plans nationwide.  Imagenet provides digital transformation, claims adjudication and member and provider engagement services, acting as a mission-critical partner to health plans in enhancing engagement and satisfaction with members and providers. Read more here.

 

• CCRM Fertility, a provider of fertility treatment, has acquired RADfertility, a fertility center with offices in Delaware, including Newark, Wilmington and Dover. Read more here.

 

• CompuGroup Medical US, a global healthcare technology and tech-enabled services company, is broadening its US presence with the acquisition of Medicus Laboratory Information Systems from Diagnostic Systems Consulting, LLC, a developer of laboratory information systems with headquarters in Weston, Florida. The acquisition of Medicus will further enable CompuGroup Medical to grow its relationships with large, value-added resellers in the US healthcare market.  CGM will also be able to leverage the expansive Medicus network of healthcare organizations and consultants selling its LIS solutions within the healthcare continuum. Read more here. 

 

• GCX Mounting Solutions, a portfolio company of Audax Private Equity and a global designer and manufacturer of healthcare-focused mounting and mobility solutions, announced the acquisition of Jaco, Inc. Jaco designs, manufactures, and sells a full line of branded point-of-care IT workstation solutions for the healthcare markets, including powered carts, non-powered carts, wall arms, and video-presentation carts. The acquisition strengthens GCX’s broad portfolio of medical instrument and mounting solutions with the addition of Jaco’s battery-powered EVO™ Series mobile carts. The deal also adds new commercial and manufacturing competencies. Read more here. 

 

• Inizio, a strategic partner for companies in health and life sciences, announced the acquisition of Evolution Road, a digital innovation company in life science omnichannel, digital marketing and digital health strategy.  Evolution Road will become part of Inizio's MarComms business unit, Evoke, a global brand, experience, and communications platform. Evolution Road will enhance Evoke's commercial innovation offering, digital health solutions, and end-to-end omnichannel suite of services. Read more here.  

 

• Medical Mutual closed on the acquisition of Reserve National Insurance Company, formerly Kemper Health. The acquisition provides Medical Mutual with avenues to immediately bolster and expand its product offerings and strategically expand its geographic footprint. Read more here.   

 

• OrthoAlliance, an orthopedic management services organization, has announced a new partnership with Granville, Ohio, based Orthopedic Specialists & Sports Medicine that will add four physicians to OA's expanding network. The partnership will enhance Orthopedic Specialists & Sports Medicine's success and comprehensive approach to delivering specialized bone, joint, and muscle care to more patients throughout Central Ohio. Read more here.

 

• Pinnacle Treatment Centers, a provider of community-based drug and alcohol addiction treatment services, announced it has acquired MBA Wellness Center in Stockbridge, Georgia.  This is Pinnacle’s second acquisition in six months and increases Pinnacle’s reach in treating those suffering from substance use disorder and advances its mission of making recovery possible for all who need it.  Read more here.

 

• Prime Health Services, Inc., a national cost management solutions company, is acquiring the InterGroup provider network. InterGroup Services is a comprehensive auto, workers' compensation, and group health PPO network that currently serves Pennsylvania, New Jersey, Delaware and West Virginia. The acquisition will allow Prime Health Services to strengthen its provider network in the Mid-Atlantic region, including Pennsylvania, New Jersey, Delaware and West Virginia. Read more here. 

 

• Rhythm Management Group has announced the acquisition of Equis Consulting Group, an Indiana-based provider of clinical and consultative remote monitoring and management services. Read more here.  

 

• Senior Connect Acquisition Corp. I,  a publicly traded SPAC, announced that it has entered into a non-binding letter of intent for a business combination with Avellino Lab USA, Inc. (Avellino). Avellino, a precision medicine company, is making a global impact in genetics and bringing innovative diagnostics, therapies, and AI-driven data processing to patient care. Read more here.   

 

• Sonde Health, a health technology company delivering accessible health monitoring, has raised a $19.25 million Series B investment round led by Partners Investment, with participation from NEOM Company, KT Corporation, and existing investors, including co-founder PureTech Health and M Ventures. The company has raised $35.25 million in total and will use the funding to drive its global commercial growth, deepen its respiratory and mental health monitoring technologies, and build capabilities for additional health conditions. Read more here.    

 

• Starfish Partners, an international investment and ownership platform for niched professional and mid to upper-management search specialists announced the acquisition of Integrity Search, LLC, an Idaho-based firm that works throughout North America placing talent in Nursing Management and Healthcare Leadership. Drew Wyatt, president and founder, and the Integrity Search team will work under the Kaye/Bassman International (KBIC) umbrella and will expand KBIC’s reach into additional nursing leadership and healthcare industry segments. Read more here.

 

• Vision Innovation Partners (VIP), a Mid-Atlantic eye care platform with over 70 locations and a portfolio company of Gryphon Investors, today announced that it has partnered with Chesen Laser Eye Center in Reading, PA. The acquisition is VIP's 24th add-on acquisition since its founding in 2017 and strengthens its growing network of differentiated ophthalmology practices.  Read more here.

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.