USAP Extends Houston Coverage

US Anesthesia Partners (USAP), an anesthesia-focused physician services organization, added another group of Houston providers to its physician services organization through a recent partnership.  

The new group of anesthesiologists / anesthetists will become the Northeast Houston Division of Greater Houston Anesthesiology - one of USAP's founding practices.This partnership extends USAP's coverage of the high growth Houston market.  New division providers will enjoy the benefits of USAP's resources as practices nationwide recognize the need to invest in IT and address other key care initiatives.  Read more

Related Articles: 
More Fish in the Net…
New Partner for Anesthesia Specialty

American CareSource Scores Again…

2014 FIFA World Cup Brazil
June 12 - July 13, 2014

Not long after entering the "Urgent Care Game" with its acquisition of CorrectMed of Atlanta, American CareSource is making a pass at another clinic.  They're on the move with an agreement to purchase Bay Walk-in Clinic assets on Florida's panhandle.  Bay Walk-in Clinic is well-established in the Panama City area.  
In reference to the agreement, the American CareSource CEO said that this planned acquisition "...builds momentum for its move into the vibrant Urgent Care industry...”  A move...Dr. Richard W. Turner expects will be a WINNING one!   Read more

One More in NC for U.S. HealthWorks

U.S. HealthWorks strengthens its strong urgent care network and North Carolina presence with the acquisition of IndustriCare.  Dr. Fabienne Ransom currently directs the operation of the Charlotte occupational medical center which was established over 17 years ago.  >>Read more

The U.S. HealthWorks activity continues the 2014 interest in urgent care.  Consider last month's acquisition of two Georgia clinics by American Caresource.  The clinic's previous owner, CorrectMed, LLC, now operates as a subsidiary.   In April, Rite Aid acquired Houston-based RediClinic, a retail clinic operator.  Rite Aid's support will accelerate RediClinic's expansion plans.

See Related Articles on U.S. HealthWorks

Athletico Partners with Harvest

For their next phase of growth, Athletico can rely on Harvest Partners.  The private equity firm recently announced their investment in Athletico, the Chicago-based physical therapy business with 80 clinics throughout Illinois, Indiana and Wisconsin.   >>Read more

Commenting on the partnership, Athletico's President Mark Kaufman noted:

"We chose Harvest as our partner because they support and share Athletico’s goal of providing excellent preventative care… The partnership will bring this mission to new markets via continued organic growth and strategic acquisitions.” 

Harvest has partnered with other healthcare companies within the last few years.  See AxelaCare Finds Harvest Home

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

American CareSource Enters Urgent Care

In 2013, Urgent Care industry revenue topped $14B.  By 2018, revenue is projected to increase to approximately $19B.  Not surprising then...that American CareSource, a network of ancillary healthcare providers, is moving into the urgent care market space.  Their foray begins with the acquisition of two urgent care clinics in the Atlanta metro area.  The Locust Grove and Decatur clinics were previously owned by CorrectMed, LLC.  >>Read more

With the completed acquisition, Dr. Richard Turner, American CareSource CEO, affirms,  

"…we have taken our first important step in entering the urgent care market.  The two centers will be the centerpiece of our strategy to become the high-quality, patient-centric provider of conveniently available affordable urgent care…"

Related:  More Regular Care = Urgent Care Growth

More Expansion in Dermatology Specialty

Dermatology Associates (Tyler, TX) is moving North…

The portfolio company of  Candescent Partners is combining with Kansas City-based Dermatology & Skin Cancer Center (DSCC).  Together, the organization of 25 physicians will provide services to patients from 14 locations in Texas, Kansas and Missouri.  Geoff Wayne will serve as CEO for the combined practices.  >>Read more     

Related:  Dermatology Associates of Tyler Get a Partner

The Dermatology Associates acquisition follows another healthcare-related deal by the PE firm completed earlier this year.  Candescent Healing, a Candescent Partners portfolio company, merged with a subsidiary of RestorixHealth in January.  The two companies, operating under the name RestorixHealth, will continue its focus in the development and management of wound care treatment centers.  (The transaction represented an exit for Candescent Healing, its investors and its management team.)

Derm Platform Continues Buying Spree

Advanced Dermatology & Cosmetic Surgery, the Maitland, Florida-based "Derm" Giant, followed up an early January Midwest acquisition with a few more this year.  Their most recent buys will further strengthen the firm's presence in their home state and include: 

1. South Florida:  Miramar Dermatology founded by Dr. Jay Gottlieb  >>Read more 
2. West Florida:  Albergo Palm Harbor Dermatology founded by Dr. Robert Albergo  >>Read more 
3. North Florida:   North Florida Dermatology Associates founded by Dr. Frank Schiavone and grew to four offices  >>Read more

Advanced Dermatology & Cosmetic Surgery was established by Dr. Matt Leavitt in 1989 and has grown to over 75 locations with presence on both coasts and in the Midwest.  The firm also provides billing & coding services under the Ameriderm™ trade name.

Related:  Nationwide Derm Practice Adds Midwest Clinic

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