MARKET ANALYSIS

Healthcare M&A Weekly 12.11.23

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for December 11, 2023. 

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 - December 4, 2023.

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• Advanced Fertility Care (AFC) integrated Reproductive Health Center into its family of fertility care providers. AFC is a prominent member of the Pinnacle Fertility network and this addition will expand AFC's reach throughout the state of Arizona. Click here to view the announcement.

 

• ARC Health, a group of mental healthcare practices and a portfolio company of Thurston Group, acquired Advanced Psychiatric Group, a mental health practice located in Central Florida. The acquisition expands ARC Health’s geographic footprint. Read more about the acquisition here.

 

• Carisk Partners, a specialty risk transfer and care coordination company, recapitalized with Lee Equity Partners and Elements Health Investors. The recapitalization will fund the expansion of the company's footprint in the workers' compensation marketplace with an emphasis on behavioral health. Learn more about the recapitalization here.

 

• Greater Boston Urology, a multi-specialty urology practice within Boston has joined the U.S. Urology Partners network. U.S. Urology Partners is backed by NMS Capital and currently holds 150 providers within its network. This affiliation expands U.S. Urology Partners' geographical footprint into a total of 5 states. View the announcement here.

 

• H.I.G Growth Partners completed the sale of its portfolio company Just Home Healthcare Services (JHC). The Group Home and Independent Living Program portion of the business was sold to RHA Health Services, backed by Blue Wolf Capital. In April of 2023, the Personal Home Care and Adulty Day Health side of JHC was sold to Honor Health Network. Learn  more here.

 

• HopCo, a provider of MSK clinical outcomes management solutions, acquired MyACTome, a phone-based fall risk and frailty assessment platform. This acquisition expands HopCo's digital health platform. Read more about the acquisition here.

 

• IncreMedical Therapy Solutions, a provider of post-acute management services, partnered with Interstate Rehab, a provider of licensed physical, occupational and speech therapists that work with healthcare organizations. Click here for more on the partnership.

 

• National HME, a provider of durable medical equipment solutions to hospice and alternate sites of care, acquired Hospice Source, a hospice medical equipment provider for patients and facilities. Read more about the acquisition here.

 

• OneOncology Partners, a national platform for independent oncology practices, announced the addition of three partners based out of Los Angeles, Tennessee, and Michigan to their network of physicians and practices. View the press release here.

 

• Platinum Dermatology Partners has partnered with Skin & Cancer Associates of Florida. The partnership will expand Platinum Dermatology's reach to nearly 400 providers serving patients across 130 clinics. Read more about the partnership here.

 

• Premier Senior Living, a senior living management company based in Mount Pleasant, South Carolina, added three new communities under management. Click here to learn more.

 

• Revive, a leading healthcare agency formerly owned by Interpublic Group, has been acquired by BPD, a data-driven health system marketing services company. The combined organization will form a tech-enabled marketing and communications services company primarily serving hospitals, health systems, and care delivery brands. Read more about the acquisition here.

 

• R1 RCM, a provider of tech-driven financial performance and patient experience solutions for healthcare providers, entered a definitive agreement to acquire Acclara, a revenue cycle management (RCM) company based in Rhode Island. The deal is valued at USD $675M and expected to close in early 2024. Click here to view the announcement.

 

• Ryan Specialty, an international specialty insurance firm, acquired AccuRisk, a medical stop loss managing general underwriter (MGU) based out of Chicago, IL. Learn more about the acquisition here.

 

• Seismic Therapeutic, a MA-based machine learning immunology company raised $121M in Series B funding led by Bessemer Venture Partners. Read more about the funding.

 

• Sentara Health, a provider of health insurance in Florida and Virginia, has become the sole owner of Velocity Urgent Care, a chain of 17 urgent care locations across Virginia. View the annoucnement here.

 

• Urologic Consultants, based in Grand Rapids, MI, has joined as an affiliate of Solaris Health, a national healthcare management company. Urologic Consultants will bring 10 providers who care for over 15,000 patients each year with them to Solaris. Solaris will now have a network of over 650 providers who care for over 900,000 patients located in 13 states. Learn more here.

 

• Valant Medical Solutions, a provider of behavioral health SaaS-based EHR and practice management software and portfolio company of Gemspring Capital, has been acquired by Resurgens Technology Partners. Valant Medical Solutions serves over 22,000 behavioral health professionals across all 50 states. Read 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.