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

ADCS Focus on Michigan

Advanced Dermatology & Cosmetic Surgery (ADCS) continues its advance into Michigan.  The national derm group acquired the Grekin Skin Institute, a multi-site Southeast Michigan practice, in 2014.  With a focus on his home state, Dr. Steven Grekin, now a regional Midwest director and business development officer has been busy.  He's added several practices under the ADCS banner in 2015.  These include the four clinic Dermatology Associates of Northern Michigan,  Dr. Michael Redmond's Livonia practice and in late July another northern Michigan practice, Bay Area Dermatology (Traverse City).  Dr. Grekin's 2015 goal for Michigan is to expand to 15 offices with an eye on 30 locations by 2017.

ADCS added another solo practice in late July.  Dr. Howard Goldman is now part of the ADCS team.  His practice complements other Advanced Philadelphia-area locations.  

With the recent Michigan and Pennsylvania acquisitions, ADCS owns more that 115 clinics - clearly the leading derm organization in terms of locations.   >>Read this and more

Related:
ADCS Adds Offices Out West
Nationwide Derm Practice Adds Midwest Clinic
Derm Platform Continues Buying Spree

American CareSource to Add NC UC Clinics

The Atlanta-based urgent care chain, American CareSource, is strengthening its east coast presence.  With the upcoming acquisition of Medac Health Services, P.A., American CareSource will add four Wilmington, NC locations - increasing its total to 14 urgent care centers.  Currently, the chain operates clinics in suburban Washington, D.C., Georgia, Florida and Alabama.

American CareSource also offers a range or primary care and specialty health services, including occupational medicine and veterans care.

>>Read more

TeamHealth Expands Footprint with IPC Deal

TeamHealth (TMH), the physician staffing provider, is teaming up with IPC Healthcare.  The $1.6B all-cash deal establishes the firm as a leading physician services organization.

The merger should increase the TMH network of healthcare professionals to 15,000 nationwide across multiple specialties.  Of note is IPC staffing strength in the acute hospitalist and post-acute markets.  This complements the solid presence of TMH professionals in emergency medicine, anesthesia, urgent care, pediatric and management services in approximately 1,000 civilian and military hospitals, clinics and physician groups in 47 states.

TeamHealth President and CEO Mike Snow noted: 

“Through this combination, TeamHealth will be better positioned to capitalize on key trends as the U.S. healthcare industry moves toward value-based reimbursement with an increased focus on post-acute care and services…"

>>Read more

Is Bigger Better?

“Big is going to be better. Small is not going to survive." 

These are the words of an East Coast healthcare exec earlier this year.  Many analysts agree and apparently, so do some healthcare leaders - given the flurry of M&A activity in June/July and 2015.  Consider:

• Mergers / sale of US hospitals (e.g.: Tenet's sale in St. Louis)
• Acquisition of physician groups and/or HC practices
• Target's pharmacy & clinic business sale
• Nursing facility buys (e.g.: Genesis HealthCare)
• Revenue cycle management services acquisition (i.e.: ROI Companies)
• And, the pieces de resistance --- Aetna's $37B BIG BUY

Time will tell if the trend (probably) and pace continues (Check back in a few..).

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

MinuteClinic Starts to Roll...

CVS MinuteClinic expansion continues… to meet their goal of 1500 clinics by 2017.  

The growth spike will result from the planned CVS Health acquisition of Target's pharmacy and clinic business (47 pharmacies in 47 states).  Target's 80 walk-in clinics will be rebranded as CVS MinuteClinics. Twenty new clinics are planned to open in Target stores within 3 years. >>Read more

Related:

MinuteClinic…Here to Stay

OneSmile, LLC Debuts as New Dental Platform

Dental industry veterans, Steven Bilt and Bradley Schmidt are on track again with San Francisco-based Gryphon Investors.  The recent partnership will focus on building a new company, OneSmile, into a Dental Services Organization (DSO) platform.  Initial efforts will involve acquiring dental practices in the western U.S.

The parties are well acquainted as Bilt and Schmidt were part of the executive team at Smile Brands, Inc. -- a previous Gryphon portfolio company.  The dental duo successfully built Smile Brands from inception to a company with 400+ locations and revenue of $500M.  >>Read more

NextCare Even Deeper in AZ

NextCare Urgent Care extended its reach in the Grand Canyon State with three recent acquisitions.  As one of the nation's largest urgent care providers, it's 35 Arizona locations offers healthcare services to over 90% of state's population.  These acquisitions continue the company's active expansion over the last 12 months…+23 clinics across the U.S.  >>Read more

FastMed Partners with ABRY - Expansion Expected

Private equity firm, ABRY, is set to acquire FastMed, the second largest independent urgent care organization in the U.S.  The acquisition will include FastMed's 87 clinics and the corporate offices in North Carolina and Arizona.  Currently, FastMed employs more than 1,100 - which include physicians, physician assistants and nurse practitioners.  FastMed CEO, Kevin Blank noted:

"The additional capital and management talent that ABRY provides will allow us to significantly expand our geographic footprint and grow organically as well as through targeted acquisitions…."

The transaction is expected to close in the second quarter, 2015.  >>Read more

Drugstore Giant Partners to Offer Telehealth

Walgreens Boots Alliance, the merged drugstore and health retailer, is rolling out a new mobile app.  The latest app goes beyond facilitating Rx refills and a pharmacist chat to enable shoppers to consult with a doctor virtually via smartphone.  (MDLive, a telehealth provider, is Walgreens' partner.)

Already tested in California and Michigan, the app will go live for Illinois Walgreens' shoppers at the end of May.  The virtual doctor app is expected to roll out to 25 states by the end of 2015.  >>Read more

MinuteClinic…Here to Stay

The retail arm of CVS Health - MinuteClinic - reached an impressive milestone.  Since opening its first retail clinics in 2000, MinuteClinic locations have served 25 million patients.  The retail clinic began as an experiment in Nebraska, New Mexico, Rhode Island and Wisconsin and has steadily evolved not only in size but service.  Today, Minute Clinic locations number approximately 1000 with the goal of over 1500 clinics by 2017.  Currently, the clinics offer 65 services and vaccinations (up from treating just 7 illnesses in the beginning).   >>Read more

New Growth Platform for MEDNAX

Virtual Radiologic Corporation (vRad), a leading radiology physician services and telemedicine company will soon provide MEDNAX with another revenue stream.  With the vRad acquisition, expected to be complete in Q2, MEDNAX adds radiology to its current specialty list which includes neonatal, anesthesia, maternal-fetal, pediatric cardiology.  

MEDNAX CEO, Roger Medel, M.D. noted that...

"…vRad is an excellent platform for growth in teleradiology and the broader telemedicine market…“Radiology is a large, fragmented industry… and it is evolving rapidly to include teleradiology as an economic and clinical necessity for customers.” 

>>Read more

✔ FACT:  The market size for Radiology is estimated at roughly $18B annually

Millennials Driving Healthcare Change

Millennials will change the course of healthcare, according to a PNC Healthcare survey conducted in January, 2015.  Note the trends among this demographic group (age 21-32) poised to overtake boomers in buying power...

• Desire for speedy delivery of care (preference for retail clinics)
• Greater reliance on word-of-mouth marketing (e.g. Yelp, Healthgrades)
• More online review of insurance options prior to selection
• Preference for upfront treatment estimates
• Kicking care down the road (due to high medical costs)

>>Read more

PE Partnership to Spur Vet Growth

VetCor, an operator of U.S. veterinary hospitals, now enjoys backing by two private equity firms (Harvest Partners and Cressey & Company) as it continues its growth spurt.  VetCor, one of the few platforms in the veterinary services space, currently manages 137 veterinary hospitals across 19 states.  Dan Adams, CEO & President, will continue to lead the company.   >>Read more

2015 Kicks Off with Home Healthcare Buys

The Ensign Group, a company that provides a variety of home healthcare and rehabilitative services acquired Scottsdale, Ariz.-based, Alarys Home Health.  Alarys has offered home care and home health services since 2003.  The Ensign Group operates in eleven states and over 100 facilities, primarily in the Western U.S.
 

Addus HomeCare Corporation is a long-standing provider (since 1979) of personal and adult day care services.  The company is headquartered in suburban Chicago and operates in 19 states.  Their January 1 acquisition of Priority Home Health Care, Inc. expands their footprint in Ohio with six offices in the Cleveland, Akron and Columbus areas.  >>Read more

And Then There Were Two...

The Chicago metro area is home to roughly 9.5 million people who deal with their share of weekend warrior pains, weather aches or chronic health issues.  Fortunately, there’s an abundance of physical therapists and clinics to address such health concerns.  Interestingly, three of the country’s largest PT platforms also call Chicago home – Athletico, Accelerated and ATI.  While each platform is well entrenched in the area, they have all successfully expanded their footprint beyond the Windy City.

Recent news comes that Athletico and Accelerated Rehabilitation Centers are combining efforts...  An enhanced service level to patients is expected along with a bump up in status among the industy’s top companies.  The larger organization will be led by Mark Kaufman from the Oak Brook, IL headquarters.  >>Read more

Shore Sits Pretty with Vet Platform

Chicago's Shore Capital recently acquired three Southeast animal hospitals to create the animal hospital platform, Southern Veterinary Partners (SVP).  Jay Price, owner of the merged clinics, will lead the general veterinary services practice as CEO from its Birmingham, AL headquarters.   Shore and Dr. Price look forward to building a "best-in-class regional platform" through partnerships with like minded veterinarians.  >>Read more  Mike Cooper, Shore Capital partner and Southern Veterinary Partners Chairman noted: 

"As part of our sector-focused investment approach, we’ve spent significant time studying the veterinary services industry and we are confident that the sector benefits from a number of attractive industry dynamics and is ripe for continued consolidation.” 

Let's Connect in Colorado...

We're headed to Colorado Springs…    
to exhibit at the American Physical Therapy Association's annual meeting for practice owners - 2014 Private Practice Section (PPS). 

The Conference & Expo (Nov 5-8) will be held at The Broadmoor, an elegant hotel near the southern edge of the Rockies.  Stop by to see us at Booth 706 in the PPS Expo Hall on Nov 6 or 7 (Thurs. / Fri.)!  >>More info

CSM 2015 is coming in February - MT Consulting will be there too!

Winning Year for TEAMHealth

October acquisitions add to a productive year for TEAMHealth, the Knoxville-based provider of outsourced physician staffing solutions for hospitals.  Premier Physician Services, the latest acquisition, adds 700 physicians and advanced practice clinicians to the TEAMHealth roster.  Premier physicians cares for one million Dayton area patients annually by staffing 42 emergency departments, 7 hospital medicine programs, 11 occupational medicine programs and 14 correctional care programs.   >>Read more    
Other 2014 acquisitions include:

TeamHealth Partners	Headquarters	Annual Patient Care
-Salutis Emergency Specialists	Martinsburg, WV	ER – 54,000
-Physician Services of Cleveland	Cleveland, TN	ER – 52,000
-Trident Emergency Physicians	Charleston, SC	ER – 120,000
-Teaneck Emergency Physicians	Teaneck, NJ	ER – 53,000
-Heartland Anesthesia Services	Omaha, NE	Anesth. - 10,000 cases*
-Florida Gulf-to-Bay Anesth.  Associates	Tampa, FL	Anesth. - 160,000 cases*
-Emergency Medicine Specialists	Detroit, MI	ER – 400,000
-Primary Critical Care Medical Grp	Burbank, CA	Hospital – 100,000
-PhysAssist Scribes	Ft. Worth, TX	Scribe svcs - 155 ERs

TEAMHealth's acquisition lineup underscores a recent comment by Jeff Swearingen, Co-founder of Edgemont Capital Partners and company advisor:

“Physician practice consolidation has accelerated in 2014 as the rollout of the Patient Protection and Affordable Care Act drives significant change and increased complexity in healthcare…"  

Consistently, executives of new partner companies recognized TeamHealth's depth of resources and strong infrastructure...and the organization's support in meeting the demands of advanced patient care.

3Q Deals Add Up / DaVita Adds On

Just released…
Axial*'s third quarter, 2014 snapshots of deal activity in key business sectors  (Energy, Manufacturing, Healthcare, Tech). 

Source:  Axial

Third quarter deal flow in Healthcare & Life Sciences reached the highest level this year - an increase of 28% quarter-over-quarter.  Healthcare Services deals topped that of other Healthcare subsegments: Facilities, Equipment, Life Sciences Tools & Services, Supplies.  Industry executive,  Brent Earles, suggested that:  

"Many medical groups, independent practice associations, hospitals, and health systems will merge or be acquired. These transactions will drive systems to gain increased access points, greater critical mass, expanded population health management knowledge, and a stronger presence in geographic areas or regions.”    

*Axial is a largest network for professionals who run, advise & finance private companies. >>Read more

Source:  Axial

In fact…
Today's news from Colorado supports Mr. Earles' premise.  DaVita HealthCare Partners announced its intention to acquire Colorado Springs Health Partners (CSHP).  DaVita is a provider of population health and kidney care services.  The completed acquisition will add another multi-specialty medical group with 100+ physicians at 11 locations to the organization.  The  company already manages medical groups in six other states:  California, Nevada, Florida, Arizona, New Mexico, Pennsylvania.  >>Read more

  

Five Points Moves into Tennessee

Five Points Healthcare, a Fulcrum Equity Partners' portfolio company, added another  company in 2014.  The late August acquisition of Nashville-based Willowbrook Health Systems, a provider of home health and hospice care,  adds seven point of service to the Five Points network.  The Five Points family of companies already includes BestCare Home Care, AAA Home Health and Hospice, Paramount Hospice.  Led by CEO Rob Radics, the Five Points management team is focused on becoming the premier provider of home health and hospice services throughout the southeast.  >>Read more

Tele-health Green-Light

Industry stakeholders are applauding Medicare's step toward expanding tele-health coverage with its proposed update to the Medicare Physician Fee Schedule for 2015.  California politicians have also seen the light…The governor recently signed a bill that purports to make tele-health easier for rural patients to use. 

The fact that there is greater acceptance of the technology and approach is not lost among early stage investors…Teladoc, a provider of 24/7 tele-health consultations, is the beneficiary of $50M more in new venture capital funding.

For more information: 
Telemedicine Interest Surges 
Rx for the Future?

ADCS Adds Offices Out West

The team at ADCS continues its push into western states with the latest acquisition in northern Colorado (Ft. Collins).  Florida-based Advanced Dermatology and Cosmetic Surgery boasts over 100 clinics, primarily in the southeast.  With the Fort Collins Skin Clinic acquisition, the nationwide derm platform adds 11 more Colorado locations to its office list. >>Read more

Related:
Derm Platform Continues Buying Spree

Nationwide Derm Practice Adds Midwest Clinic

Calling Dr. Walmart…

The world's largest retailer wants to be your doctor too.

Walmart is stepping up its healthcare game with a leap into primary care.  This is a bold move following limited success with its retail health clinics (opened 260; closed 166*).  CVS and until last year, Walgreens, have been careful not to overstep into primary care - thus, minimizing the ire of local doctors.  Contrary to that, Walmart's intention is for new clinics in South Carolina and Texas to act as a primary care provider.  Given Walmart's geo footprint, their primary care concept may play out well as rural areas are traditionally underserved by primary care providers.

Expansion will continue by Walmart, as well as CVS and Walgreens.  At stake, a greater slice of the Obamacare pie…or, is it goodwill they're after?  >>Read more

Weigh in…would you call on Dr. Walmart?  

*Merchant Medicine

Partners Acquire Skilled Nursing Portfolio

Two investment firms with a strategic partnership enhanced their skilled nursing facility portfolio with the acquisition of 14 Mid-Atlantic facilities.  The newly acquired facilities, operated by Consulate Health Care, are located in Virginia, Maryland, Pennsylvania.

The partners…Formation Capital and Safanad have done this before... to the tune of over $1B invested in the sector.  Other recent acquisitions include:
2013… 36-property senior housing portfolio across 13 states
2012… 68-property portfolio on the East Coast
2011… 36 senior care facilities across 3 deals

>>Read more

Urgent Care Still on Fire

In a recent article, the NY Times restated a fact that we've know for awhile.  The urgent care healthcare segment continues to be Hot.  As noted by the author, Julie Creswell, "The business model is simple:  Treat many patients as quickly as possible."  From this simple approach, the industry has grown to an estimated $14.5 billion business and garnered the attention of commercial insurance companies, regional health systems, local hospitals.  And now..private equity firms.  In fact, PE investors are driving the growth these days.  Of course, expensive ER visits, limited office hours, the more insureds/less doctors conundrum may have contributed to the UC interest and clinic increase.  (~9000 US clinics)

Certainly, well-run platforms are appealing - wonder how many will evolve into a McDonald's type brand?  What do you think?

>>More food for thought:  Race Is On to Profit From Rise of Urgent Care

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