Rite Aid Acquires RediClinic

Step aside CVS and Walgreens…Rite Aid will also 
offer consumers a convenient alternative to a long doctor's office wait.   The recent acquisition of RediClinic, a pioneer in the retail clinic industry, bolsters Rite Aid's health and wellness strategy.  RediClinic services include basic physical exams, screenings, immunizations.

The new parent will support Houston-based RediClinic's expansion in its home state of Texas and into select Rite Aid markets.  RediClinic opened in 2005 and currently operates 30 locations.  Rite Aid operates 4600 stores in 31 states.  >>Read more

Facebook and PT?

What do they have in common? 
On the surface…not much.
However, Facebook's interest in Oculus, a virtual reality company, could do much to spur the adoption of telemedicine in a variety of specialties, including physical therapy.  >>Read more

“After games, we’re going to make Oculus a platform for many other experiences. Imagine… consulting with a doctor face-to-face — just by putting on goggles in your home.”       ~Mark Zuckerberg, Facebook Co-founder

VR therapy for phantom pain

The potential virtual reality application in physical therapy would address the phantom pain experienced by roughly 70% of amputees.  Current treatments include drugs, acupuncture, hypnosis and "mirror therapy" but don't always work.  VR therapies have been developed and tests conducted with more clinical studies needed to better assess the effectiveness.   >>Learn more about the VR approach to reducing phantom pain.

Telemedicine Interest Surges

Telemedicine is gaining a stronger foothold in the U.S. healthcare ecosystem thanks to its lower cost to patients, employers and insurers.  With the advent of smartphones and tablets…this healthcare delivery option is getting recognition as a time-saver too.

A greater number of large employers are covering telemedicine costs - an increase from 12% to 17% in 2013, according to HR consultancy Mercer.   Even more striking is the spike in interest among companies considering telemedicine coverage - from 33% to 43%.  The American Telemedicine Association CEO, Jonathan Linkous noted, "Telemedicine is increasing access, improving quality and decreasing costs…"  View the map for the number of states legislating telemedicine coverage.

How will the increased interest in telemedicine impact primary care physicians, urgent care centers, ERs?  Not.  With the influx of 7.1M newly insured Americans, it's likely that these traditional providers will continue to have a steady stream of patients.  What do you think?   >>Read more
 
Click for more information on telemedicine and telemedicine's niche markets.

Huron's Dental Platform Stronger

Huron Capital, recognized for its buy-and-build approach, is all smiles these days…
The firm strengthened their healthcare platform with the acquisition of a Richmond, VA dental practice.  Huron's portfolio company, Dynamic Dental Partners Group, is a leading dental practice management company providing centralized back-office services to a network of fee-for-service dental practices.  The latest acquisition increases Dynamic's network to 32 locations across Virginia, Florida and Arizona.

Linden Capital is another private equity firm with a dental platform.  Click here for more info.

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.

Adult Day Care Back on Track?

The adult day care industry growth slowed during the recent economic slowdown.  However, the Affordable Care Act through an increase in private health insurance coverage is expected to generate increased funding for this sector.  Recovery in disposable income levels will also spur growth as households will be better able to afford the services again.

What is Adult Day Care?  Services provided during normal business hours at a center (not the home) include social and basic health assistance, including transportation, meals, personal hygiene and therapeutic activities, to the elderly and individuals with mental or physical disabilities.

Active Day/Senior Care, Inc., a Clearview Capital portfolio company, stands tall in the roughly $6B highly fragmented market adult day care industry.  The company created by the 2011 merger of Active Day and Senior Care Centers of America is the largest adult day service provider in the U.S.  The company operates 75 centers in 11 states:  Connecticut, Delaware, Indiana, Massachusetts, Kentucky, Ohio, Maryland, Mississippi, New Jersey, Pennsylvania, South Carolina.

The latest Active Day/Senior Care branded center is in New Jersey with the early March acquisition of a well-established center in Brick.  Acquisition is likely to remain a key component of the company's growth strategy.  >>Read more

Professional Pleased with Gold Coast PT

Is Adam Elberg from Professional Orthopedic and Sports Physical Therapy happy?  More than that… 

"We're thrilled to welcome Gold Coast to the Professional family," said Elberg, CEO of the leading provider of rehabilitation services in the New York metro area.    

With the acquisition, Professional brings four Long Island clinics under the firm's well-established umbrella.  Key Gold Coast personnel will also come on as partners.  Professional, founded in 1998, increases it outpatient clinic total to 27.   >>Read more

Acquisition Ensures Growth for Travel Nursing Pioneer

Fastaff Travel Nursing and U.S. Nursing Corporation now have the financial backing to ensure expansion - thanks to the recent acquisition by Healthcare Staffing Services, LLC.  

The Rapid Response travel nurse concept was pioneered 25 years ago by Fastaff.  Their goal...to provide urgent and temporary nurses to hospitals nationwide to ensure continuous, quality patient care.  Since 1989, U.S. Nursing's business focus was offering staffing solutions during labor disputes to various healthcare facilities.  With deeper access to quality nurses, it's a winning partnership for Healthcare Staffing Services and the newly acquired Greenwood Village, CO companies. >>Read more

Urgent Care Chain Plans Expansion

PM Pediatrics is looking to expand…thanks to its recent investment from Scopio Capital Management.  The pediatric urgent care chain, founded in 2005, has 9 clinics located in greater New York and Northern New Jersey.   Co-founder Steven Katz suggested that 6-7 more offices could open by the end of 2014.  Click here for more information. 

Another AxelaCare Acquisition

Following the late 2013 acquisition of Sirona Infusion, AxelaCare is already bringing another company into its fold.  Backed by PE firm Harvest Partners, AxelaCare will strengthen its presence in California with the acquisition of privately owned ARC Infusion.  ARC specializes in providing infusion and injectable medications and supplies to patients in Southern California (Los Angeles and Orange, San Bernardino, Riverside counties).

Recognizing that managed care companies are looking to partners for national coverage and product diversity, it appears that growth is an AxelaCare priority.  Future announcements are likely based on a quote from AxelaCare CEO Ted Kramm:

"We are continuing to actively pursue acquisitions in California as well as other states to increase our geographic and product line diversification."

>>Read more

More on AxelaCare

Healthcare Slips but Dominates Top Ten

The latest U.S. News & World Report Best Jobs list is out.  While a few technology jobs moved to the top of the 2014 ranking, healthcare titles dominate the Top Ten again.  Click here for rest of the list. 

More Fish in the Net...

U.S. Anesthesia Partners (USAP) cast a wider net - adding 2 more founding partners in January, 2014.  USAP, formed in 2012, by healthcare private equity firm, Welsh Carson Anderson & Stowe is a single-specialty physician services organization.  The new partners include Pinnacle Anesthesia (Dallas, TX) and JLR Medical Group (Orlando, FL) who join Greater Houston Anesthesiology (GHA).  The three groups cover more than 1000 anesthesiologists. >>Read more  According to USAP President and CEO, Kris Bratberg:

"USAP’s growth strategy is to invest in and partner with the nation’s leading anesthesia groups, positioning them for continued success and growth in a dynamic healthcare environment.”

The New Year also saw several regional anesthesia groups merge to form ONE Anesthesia.  ONE, a management services organization (MSO), will provide management infrastructure, leadership, enhanced IT support to better meet the needs of patients and health system partners.  The merger included Williams and Wagner, PSC; Anesthesia Associates of Louisville, PSC; Anesthesia Associates of Clark County, PSC and Southern Indiana Anesthesia Consultants, LLC. 
 >>Read more

Nationwide Derm Practice Adds Midwest Clinic

Advanced Dermatology & Cosmetic Surgery (ADCS) is poised to increase its Ohio footprint.  The nationwide practice, founded by Dr. Matt Leavitt and headquartered in Maitland, Florida offers extensive dermatological services at its 70+ U.S. clinics.  The latest acquisition, targeted to close during the first quarter is Mason Dermatology in Mason, OH. >>Read more

Coming Soon: 10 for Premier

Premier Immediate Medical Care expects to benefit from the Affordable Care Act with an influx of newly insured patients.  Dr. Edward Silverman, owner of Premier, will be ready as he expands within his key market areas.  Currently, his 9 offices serve communities in Pennsylvania, New Jersey, Delaware.  Winter and Spring will mark the opening of additional centers in the Philadelphia area (Plymouth Meeting - #10 and Villanova) with the convenient hours of "9 to 9".  >>Read more 

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
 

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

Sharing Emergency Healthcare Info Still a Challenge

Guess all the money directed to technology and processes to facilitate the sharing of healthcare data (across providers) has not been enough...   
While online data sharing may be possible within a closed network, linking to those outside the network remains elusive - not real helpful in an emergency situation.  To bring healthcare fully online, seamless transfer is critical.
 
Dr. Louis Sullivan, a former Health and Human Services Secretary, founded WEDI (Workgroup for Electronic Data Interchange) in 1993.  The organization's latest report suggests that the medical system "was close but still not there yet".  The organization's CEO, Devin Jopp, is hopeful that seamless information transfer will be a possibility within 10 years.  Fingers crossed. 

Jobs that Produce Great Bosses

What experience or background will help mold you into an extraordinary company leader?  

CEO.com suggests five jobs that teach lessons that will last a lifetime.  A few jobs on the list are logical, others may prompt you to say…"Really?".   For better insight to their selections...Click Here

1. Sales
2. Fast Food
3. Manual Labor
4. Customer Service
5. Babysitter

U.S. HealthWorks Adds Florida Location

U.S. HealthWorks added another Florida urgent care center to its network with the recent acquisition of Urgent Medical Care in Pompano Beach.  The deal increases their Sunshine State sites to 14 and 203 company-wide.

U.S. HealthWorks clinics offer occupational health care and urgent care services, preventive care, pre-employment and post-offer exams and screening, and return-to-work rehabilitative care.  U.S. HealthWorks operates as a Calfornia-based subsidiary of Dignity Health - who acquired them in August, 2012.  >>Read more