Epic Adds Care Resources to Contiuum of Care

Care Resources, a provider of pediatric therapy and early intervention services since 1984, is now part of Epic Health Services.  The acquisition of Care Resources will strengthen Epic’s current lines of home services: pediatric skilled nursing, therapy, developmental services and home medical solutions.  Epic, a Webster Capital portfolio company, also provides adult services.  

Care Resources will be re-branded to Epic Developmental Services.  Currently, Epic operates in 17 states across the U.S.  >>Read more

BenchMark Goes West

BenchMark Rehab Partners, a major player in the physical therapy arena, went west again to partner with an Oregon-based practice.  Capital Physical & Hand Therapy Partners operating in the Salem, OR area is now under the BenchMark banner.

Capital Therapy, first opened in 1988, expanding its footprint through the years to six locations. Tom Williams, a co-founder, looks forward to the benefits of a BenchMark partnership:

"...We know that the expertise that BenchMark brings will allow us to further enhance our focus on outstanding patient care as well as support our vision to expand in Oregon."  

In December, 2015, BenchMark partnered with Grants Pass, OR-based Impact Physical Therapy.

Will One Less Matter?

The "One" refers to Physiotherapy Associates, a major player in the outpatient physical therapy world - now part of Select Medical Corporation, an even larger player.  The recent acquisition increases Select's U.S. rehab dominance to 1500+ facilities.  Even with one less buyer, PT acquisition activity is strong.  Strategic buyers and investors remain on the look out for profitable PT practices in key markets - pediatric as well as adult physical therapy.

Advent International's recent investment announcement ensures ATI Physical Therapy of the resources to drive continued growth and accelerate their expansion into new regions and markets.  

But, there's more...Urgent care continues to get its share of attention from prospective buyers.  Over the past few years, healthcare systems have stepped up as buyers or joint venture partners.  Bruce Japsen, a Motley Fool columnist and business writer assesses the value of urgent care this way: "...a game-changer for the healthcare industry -- more and more Americans are gaining healthcare, and urgent care centers are helping save employers and insurers money..."
 
The fragmented dermatology sector has its suitors as well... with platform practices making acquisitions to strengthen an existing region or break into a new one.  The same holds true for multi-specialty practices. 

And, by the way... for practice owners considering a sale... We're happy to help find you a buyer (610-527-8400).

Conquering the No Show Dilemma

Athenahealth is a recognizable enough name in healthcare IT.  As a reminder…their focus is providing cloud-based services to healthcare providers…think EMR's (electronic medical records).  Anyway, by leveraging a product from their latest company acquisition (Arsenal Health), more efficient practice management is expected. How so?  With the capability to anticipate which patients will "cancel" appointments or "no show", overall wait times will be reduced. Thanks predictive analytics!  It's a Win-Win for patients and providers! 
 >>Read more of the nitty gritty here

Derm Platform Secures Funds to Grow

New York-based Schweiger Dermatology Group is sitting pretty with $35 million in new private equity financing led by LLR Partners.  Founded in 2010, the practice has 20 offices throughout the New York metro area and looks to increase its presence organically and/or through acquisitions.  Headed by Founder and CEO Dr. Eric Schwieger, the platform practice provides medical, cosmetic and surgical dermatology services to over 150,000 patients annually.   >>Read more

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

Related posts - Click here

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

Related:
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