A Win for Bernie..A Clinic for ADCS

The dominant Derm platform in the U.S., ADCS Clinics, went back to Michigan for its latest acquisition - Western Michigan, this time.  
Dr. Gerald Karabin, owner of Kalamazoo Dermatology and Skin Cancer Center, joins the ADCS professional team.  Dr. Karabin has distinguished himself in surgical and cosmetic dermatology as well as a clinical researcher.
This latest acquisition continues the build out by ADCS in the Great Lakes State.  Over the past few years, the company has acquired several Michigan-based practices including Grekin Skin Institute, Dermatology Associates of Northern Michigan, Bay Area Dermatology.  Florida-based ADCS, founded in 1989 by Dr. Matt Leavitt, offers over 142 service locations in the Mid-Atlantic, Southeast, Southwest, Midwest and West.   >>Read more

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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

Another Oscar in the Headlines...

It was Oscar Health Insurance who also grabbed the Spotlight during Academy Awards week…with an additional $400 million in financing from private equity  The feat by the tech-saavy health insurance start-up, now valued at $2.7 billion, is worthy of applause.

The funding will advance the expansion of the company which started in New York and now  includes New Jersey, Texas, California.  The company aims to use technology to make Oscar Healthcare - simple, accessible & affordable.  Bravo for That!

Now, let's let Oscar run you through his latest Company Script...Click Here  

A+ for Derm Platform's First Add-on

Sona MedSpa is the first acquisition by Pharos Capital's new platform, Dermatology and MedSpa, Inc.  The platform company (formerly The Dermatology Center) offers a suite of medical, surgical and cosmetic dermatology services in the Maryland/D.C. area.  The "Sona" acquisition quickly expands the provider's footprint by 5 states and complements the business with cosmetic derm offerings.  Appears that the first add-on is first rate in terms of potential growth. >>Read more

USPI Fills In FL with CareSpot UC Buy

United Surgical Partners International (USPI), a joint venture between Tenet Healthcare and Welsh, Carson, Anderson & Stowe, boosted its presence in the urgent sector in early 2016.  USPI acquired 35 of CareSpot Express Healthcare's total urgent care locations (primarily Florida with several in Tennessee).  USPI urgent care ownership interests increased to 81 locations.

The USPI CareSpot division will combine with the already Tenet-owned MedPost Urgent Care clinics (strong in the Southwest, Southeast, Texas with various MW and NE locations).  However, each urgent care brand will maintain its own identity.  >>Read more

USAP Increases Denver Coverage with Partnership

US Anesthesia Partners (USAP) begins 2016 with the announcement of its partnership with South Denver Anesthesiologists, P.C. (SDA).  SDA joins the other leading Denver anesthesia group already under the USAP umbrella.  The combined practice of 230 anesthesia providers covers 35 Denver area facilities.  PE firm, Welsh, Carson, Anderson & Stowe, is the capital partner to USAP.  >>Read more

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More Fish in the Net...
USAP Extends Houston Coverage

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.

ATI Adds NE to Footprint

Two successful Massachusetts PT practices recently joined the growing ATI family.  The nationwide rehabilitation provider announced the acquisition of Sports & Physical Therapy Associates (SPTA) and Attain Therapy + Fitness in early December.  ATI, now boasts over 500 locations and offers "Bay State" patients over 30 rehab locations.  >>Read more

2016 Healthcare Predictions

Fortune Magazine writers don't pretend to have a crystal ball but they do have a few interesting predictions for the healthcare industry.  Here's a peek:

• FTC will block a major hospital merger.
•  Major hospital system will divest itself from its  employed doctors.
• Employers start to treat healthcare costs as seriously as travel expenses.  

Now, look at the rest.

What’s It Worth?

We’re talking about your business... 

And, knowing it’s current value should be top of mind for today’s business owners.  Surprisingly, that’s not always the case.  While a business valuation is required for a $ale, it’s also commonly used for tax purposes, estate planning, qualifying for a loan, etc.  In general, an annual ballpark estimate of company value is a good idea.

If it’s been a year or so...call us (610-527-8400) – we’ve helped many healthcare services business owners learn their worth.  We can help you, too.

Active Start to Nov. for Home Health

Amedisys, a leading home health care and hospice company led off November with their announcement to acquire of Infinity HomeCare ($63M).  The acquisition of Sarasota-based Infinity expands Amedisys' footprint into a key state with Infinity's 15 Florida centers.  But, there's more activity ahead…as CEO Paul Kusserow revealed the company has 300+ targets in its pipeline.  

Separately, Almost Family (AF), another leader in the home health care sector, announced the $40M acquisition of Home Care By Black Stone in Ohio.  The latter, a home health services provider, operates in western Ohio and complements Almost Family's existing Ohio operations.  William Yarmuth, AF CEO, expects the combined operations to establish the company as "the largest senior focused home health provider in the state…”

Related:
Almost Family

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

MT Consulting to Exhibit at PPS 2015

MT Consulting, the mergers & acquisitions firm specializing in physical therapy practices, will exhibit at the upcoming APTA Private Practice Section 2015 Annual Conference & Exhibition.   Orlando, Florida - the destination, Nov 11-14 - the timeframe... for physical therapy practitioners & owners, vendors and those allied to the field to network and learn.  The Expo annually held in conjunction with the national conference will be open on Thursday and Friday (Nov 12-13).  

Look for MT Consulting at Booth #310.  MT's Tony Lynch, one of the PT industry's most knowledgeable brokers, will be on hand to greet PPS attendees.  See you in Orlando!…   >>Read more 

HCA Acquires NV Urgent Care Centers

HCA announced the acquisition of Urgent Care Extra's Las Vegas operations this week.  The 14 Urgent Care Extra urgent care centers combine with HCA Sunrise Health System's local facilities. The acquisition supports HCA's overall strategy of improving patient access to healthcare in markets served. 

Urgent Care Extra, founded in Phoenix in 2004, continues it's Arizona operations with significant coverage of the Phoenix market and four Tucson locations.  >>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

Applause for ADCS & Audax

No summer break for Advanced Dermatology & Cosmetic Surgery (ADCS), a portfolio company of Audax Private Equity.  ADCS was busy completing four separate practice acquisitions over July and August (Philadelphia, Traverse City and Lansing MI  and Venice, FL).  They mark September with their latest acquisition - Dermatology of Northern Colorado (DNC) in Ft. Collins, CO, founded in 1987.  DNC joins Fort Collins Skin Clinic (a September, 2014 acquisition) under the ADCS umbrella serving patients in the Fort Collins area.  

With the ADCS add-on, Audax reached a milestone…it's 500th acquisition!

BenchMark Rehab Partners with Marino

Marino Therapy Centers, the well-established greater Knoxville, TN practice founded by Mary Jo Marino now resides under the BenchMark umbrella.   Marino's three locations will take on the BenchMark name as a result of the recent partnership.


Both companies have worked side by side in the Knoxville area for 20+ years sharing a focus on quality patient care and each enjoying a strong company culture.   With the mid-September  announcement, Benchmark's Sr. VP of Operations, David Myers, noted... 

"We will leverage our collective genius, learn from each other, and become stronger for it."

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