Former MT Client Continues on Acquisition Trail

DermOne, formerly Accredited Dermatology, ends 2013 on another positive note with a year-end acquisition.  The company succeeded in fulfilling CEO Ron Geraty's desire to grow beyond their core New Jersey and eastern Pennsylvania footprint.  In 2013, they added practices in North Carolina and Virginia as well as Texas. (>>Read more) in 2013.  The initial move into the greater Dallas-Ft. Worth area was through the acquisition of 3 offices managed by U.S. Dermatology Medical Management, Inc.

Announced last week, one more practice will become part of DermOne "network of neighborhood dermatology centers" before year end.   The Allentown practice of Dr. James Wall (in operation since 1977) combines Dr. Wall's expertise with  the extensive resources of DermOne for the local community.  >>Read more
 

PE healthcare deals ▼ 65%

The healthcare sector has been lackluster when it comes to its share of PE deals in 2013, according to Thomson Reuters data. 

Check out 2013 vs. 2012 activity (Jan 1 - Sept 11):
2013:  268 deals valued at $5B
2012:  292 deals valued at $14.26B

A principal at The Riverside Company, Joseph Ibrahim, offers a differing perspective on this year's healthcare deal activity.  That is, middle-market M&A activity has not experienced a significant decline.  In fact, Ibrahim reveals "…[In terms of healthcare M&A], it was one of the strongest June, July and August [periods]."
 
Ibrahim's middle-market industry insight suggests there is a "backlog of deals that will come to market".   Certainly, that activity would demonstrate continued strength in this healthcare segment.  >>Read more

What triggered the overall healthcare PE deal slowdown in 2013?  Was it Obamacare uncertainty, "hangover effect"  from 2012, or...?  Let us know your thoughts.

Source:  PE Hub

New Home for Physicians Endoscopy

Physicians Endoscopy (PE), a healthcare services company that develops and manages endoscopic ambulatory surgery centers (ASC), is now a Pamlico Capital investment.  Pamlico recently acquired the stake in Physicians Endoscopy from Silver Oaks Services Partners.  (PE was a Silver Oaks portfolio company since 2008).  Under Silver Oaks, PE doubled its numbers to 29 centers nationwide.  The company partners with practicing physicians and hospitals.  Its services include development, management, and billing services..an effort to minimize the administrative burden on physicians.  
>>Read more
 

Cause for Celebration at ATI

Management and staff at ATI, the nationally-recognized provider of outpatient orthopedic rehabilitations, deserve HIGH- FIVES.  In 2013,  ATI has steadily acquired clinics in key mid-atlantic and midwest states: Delaware, Maryland, Pennsylvania, Illinois, Indiana, Wisconsin.  In fact, over 20 clinics have been added under the ATI banner.  We're pleased... as our former client, MX Physical Therapy, was acquired in January and is part of ATI's growth to date.

Top 10 Healthcare Workplace
Kudos to the Bolingbrook, IL-based organization… for recognition as a Top 10 healthcare company based on results of the yearly WorkplaceDynamics survey.  The survey measures employee satisfaction, engagement, organizational health.  Overall, ATI was ranked #54 of the 872 companies (with 1000+ employees)  participating in the top workplaces programs.  >>Learn more

In the Spring, ATI was also recognized regionally as a top workplace in the Philadelphia and Indianapolis regions, respectively.

As a proud President and CEO, ATI's Dylan Bates noted:

“As we look to the future, and as our company continues to grow, we are even more determined to provide an environment in which our employees can enhance their skills, succeed in the field of their choice, and grow from the positive experience of having excellent outcomes for our patients,” 

Good Job ATI...

Plus 2 for The Ensign Group

The Ensign Group, Inc. ended the month of May with two more assisted living facilities under its corporate umbrella.  With operations primarily in the western US, the company now enters California's Central Coast region and complements existing facilities in the greater Salt Lake City-area.

118 Facilities in 11 States 

Last week’s acquisitions continue the company’s expansion of its assisted living base, increasing Ensign’s healthcare facility portfolio to 118 in 11 states.  Ensign group service companies include skilled nursing, rehabilitative care, home health care, hospice care, urgent care in addition to assisted living.

The Ensign subsidiary, Bridgestone Living, Inc. will oversee the transition of the 110-unit Santa Maria Terrace (Santa Maria, CA) and 69-unit Lake Ridge Senior Living (Orem, UT).   

>>Read More about Ensign's California and Utah acquisitions.

Goldman Investment Forms Resolute Anesthesia

Resolute Anesthesia and Pain Solutions, LLC, was recently formed by a Goldman Sachs Private Capital Investing Group investment in two Florida practices -  Broad Anesthesia Associates and Mid-Florida Anesthesia Associates.  The new physician-led organization is based in Boca Raton, FL, and provides anesthesia and pain management services. 

Currently, Resolute serves 25+ locations in Florida, Missouri, and Illinois.  With Goldman Sachs backing, the company has access to additional capital and management expertise - key to its expansion goal of becoming a national provider of anesthesia and pain solutions. Andrew Barnett, with  experience as former CEO of The Center for Wound Healing, will lead the organization's growth.  >>Read more