Congrats Dr. Talbott!

Congratulations!!! are in order for our client, Dr. Gaines Talbott, longtime owner of First Med Urgent Care.  In early May, Dr. Talbott officially merged his successful Charlottesville practice with West Virginia-based MedExpress Urgent Care.  Best of Luck!

MedExpress, a national leader in affordable walk-in care, is part of Optum, a division of United Healthcare.  MT Consulting was instrumental in MedExpress' initial path to expansion over 10 years ago.  As our client, MT assisted the founders of MedExpress secure an investment from private equity firm, Excellere Partners.

UnitedHealth Increases Footprint

UnitedHealth is expanding its healthcare provider footprint.  This week the healthcare giant announced that Optum, it's health services arm, will acquire Surgical Care Affiliates.  The new Optum company is a chain of outpatient surgery centers - 205 facilities across 30 states.  >>Read more

The addition continues a buying spree over the last few years which has included doctors groups, clinics and a leading urgent care provider, MedExpress.

Coincidentally, MT Consulting brokered MedExpress' first deal - when the provider had only 7 centers.  The deal set the wheels in motion...MedExpress has since substantially increased its presence in the Mid-Atlantic, Southeast and Midwest.  According to UnitedHealth, the MedExpress expansion will continue in 2017.

Professional PT Adds L.I. Hand Therapy

Professional Physical Therapy expanded its reach in metro NY with the acquisition of two hand therapy practices on Long Island - Wilutus Hand Therapy and Advanced Hand Therapy.  Adam Elberg, President of Professional, noted "The growth potential as a result of these acquisitions is very exciting...".  The acquisitions expand Professional's hand therapy services as well as geographical reach.  The New York-based practice and Great Point Partners portfolio company now boasts 67 locations throughout the Tri-State area (NY, NJ, CT).

Wilutus and Advanced owners, Robert Wilutus and Richard Scalise, respectively, are pleased at the opportunities ahead as the newest Professional PT partners.  >>Read more

FastMed Steps into Texas

FASTMED's partnership last Spring with private equity firm ABRY was expected to spur the urgent care operator's growth with an influx of capital and management talent.  Hats off to FastMed for its initial foray into the Lone Star State with the December acquisition of Texas Urgent Care.  As one of the fastest growing urgent care organizations, FastMed added Texas Urgent Care's 14 clinic locations in the Austin, San Antonio, Tomball and Waco metropolitan areas.  

Former Texas Urgent Care owner, Dr. Ashish Singhal noted a shared commitment to high quality patient care and is "…excited to develop the preeminent urgent care platform across Texas." 
>>Read more

Related:
FastMed Partners with ABRY - Expansion Expected

Pediatric Therapy Owners Now Have Exit Strategy Options

The pediatric therapy healthcare sector is comprised mainly of therapists or owners who operate 1-2 centers.  Their options to retire, sell their practice and monetize what they had nurtured for years were very limited.  While big therapy companies were primarily interested in acquiring adult practices, financial investors could not see a clear path to a return on investment.

Now, like many newer industries, the pediatric therapy sector has evolved into a bigger, more mature enterprise.  Consolidators and investors alike have a newfound respect for this specialty.  

So, is this good news for a pediatric therapy owner?... a resounding YES!

First: owner's options to sell the business, add to their retirement nest egg and transition the practice into "good hands" have increased.

Second: the value of their practice has probably increased substantially.   Pediatric therapy has always been highly respected by the healthcare community and now with the respect of the financial world - it is a very good thing.

Care to learn more...give us a call.  We'll be happy to share additional insight.

Ensign Reaches the East Coast

California-based Ensign Group extended its reach to the East Coast with a recent acquisition of a South Carolina skilled nursing facility - Millennium Post Acute Rehabilitation.  The facility joins the Ensign family under a new portfolio subsidiary, Hopewell Healthcare, Inc.

Separately, Ensign added two more skilled nursing facilities to its roster on the West Coast (AZ, CA).  These acquisitions boost the healthcare organization's portfolio to 182 - with operations that include skilled nursing/assisted living, physical, occupational & speech therapy, home health and hospice services as well as urgent care.

No stopping now…as the Ensign Group continues its search for other well-performing healthcare opportunities.  >>Read more

PhysicianOne Adds One More

Connecticut-based PhysicianOne Urgent Care continues its expansion with the acquisition of a former ASAP Urgent Care location in Hamden, CT.  More clinics, expected by year-end, will bring the PhysicianOne total to 12.  >>Read more

HC Expansion in the Southeast

Physical Therapy   BenchMark Rehab Partners welcomed new partners to its physical therapy organization in late July.  Owned by Scott Newton, Pulaski-Ardmore PT strengthens the BenchMark brand - recognized in the field of orthopedics and wound care.  The two new BenchMark clinics serve their respective communities (Pulaski and Ardmore) in south central Tennessee.  They join one of the nation's leading outpatient physical therapy organizations offering administrative services support and focused on clinical outcomes, payor and physician relationships and community programs.

"…This partnership will enhance our services to meet the needs of our local and surrounding communities and withstand the turbulence of upcoming healthcare changes."    ~ Scott Newton

Urgent Care   Atlanta-based CRH Healthcare, founded in 2012, set out to build a consumer and quality-focused urgent care operation.  It recently established itself as a leader in one of its key market areas with the acquisition of Physicians Immediate Med.  CRH added 10 service locations to its four existing Peachtree Immediate Care brand clinics to effectively cover the metro Atlanta market.  

MSouth Equity Partners along with Capstar and Cadence Bank provided transaction financing for the recent acquisition.  MSouth is expected to be on hand to support future CRH expansion in the Southeast.     >>Read more

Another Acquisition for MEDNAX

Millennium Anesthesia Care (Tampa, FL) is the latest physician group to move under the MEDNAX umbrella.  The practice employs 79 clinicians.   Dr. Jim Gruber, spokesman for Millennium noted the trend toward healthcare consolidation and benefits of a national medical group (access to resources, support and long-term stability) as reason for their affiliation 
>>Read more

Related:

New Growth Platform for MEDNAX

Walgreens Shopping List...

No specific targets mentioned but the drugstore's new CEO, Stefano Pessina, is forthright in his intention to grow the firm.  >>Read more

What's your best guess on Walgreens' next acquisition?

Aetna Kicks It Off

As part of an expected wave of consolidation, Aetna's deal to acquire Humana is valued at $37B.  And, it's a big one - the largest health insurance merger to date.

If approved by regulators, the merger will combine Humana's Medicare Advantage business and Aetna's diversified portfolio and commercial capabilities to create the second largest U.S. managed care company.  Some of the anticipated results include:

• Higher quality healthcare at lower cost; enhanced convenience for consumers
• Increased Aetna Medicare Advantage membership (to 4.4M)
• Enhanced Aetna pharmacy business
• Strong care management capabilities by leveraging best-of-breed provider solutions

Current Aetna Chairman and CEO Mark Bertolini will lead the combined company.  According to Aetna, the acquisition is expected to close by the summer of 2016.  >>Read more

PE Firm Set to Acquire Wound Care Ctrs

Healogics Holding Corp., headquartered in Jacksonville, FL, operates more than 500 hospital outpatient Wound Care Centers® across the U.S.  Last year, the company with $300M in sales treated over 215,000 patients.  The company's specialized wound care services are clearly in sync with today's trend of hospital outsourcing.  Wound care treatment aids payors in minimizing medical costs associated with wound-related incidents.

Clayton, Dubilier & Rice (based in New York) will acquire the wound care services provider from Metalmark Capital and Scale Venture Partners with an estimated close in Q2 or Q3.  >>Read more

Almost Family…Continues Buying Spree

Louisville-based Almost Family is planning to fold yet another home health facility into its operation of over 240 home health locations.  The organization entered into an agreement to acquire a 25-bed facility from Caldwell Medical Center in western Kentucky.  Almost Family operates two subsidiaries:  Visiting Nurse (home health nursing, physical therapy, etc.) and Personal Care (custodial and personal care services) with a presence in 14 midwest and eastern states.  The acquisition is expected to close before May.  Read more 

The latest purchase follows the SunCrest Healthcare acquisition in December.  Click here for more information.

Home Healthcare Acquisitions

Almost Family, Inc., a regional leader in providing home health services announced its acquisition of SunCrest HealthCare.  The transaction increases their branch locations to over 240 across 14 states with a revenue run rate close to $500M.  >>Read more

Addus HealthCare, nationally known for services including nursing, personal care aides, and rehabilitation acquired Coordinated Home Health Care, LLC from Transition Capital Partners.  Addus serves 25,000 weekly consumers from 129 offices in 19 states and now adds 15 offices in New Mexico.  >>Read more

Key 2014 Growth Strategy is M&A

Results from last summer's GE Capital survey of senior healthcare services executives* indicate that 88% will pursue mergers & acquisitions within 12 months. Other survey revelations include:

• Current climate offers opportunities for healthcare companies to grow
• M&A outlook strong based on favorable capital markets, clarity of ACA
• Optimizing efficiency best approach going forward
• More strategic approach pursued with regard to acquisitions or partners vs. merely for growth's sake. 

*universe = 223
 Source:  Healthcare Finance News, 12/4/13