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.
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.
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
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
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
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.
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
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
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
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
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
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
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
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.
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
- Sales
- Fast Food
- Manual Labor
- Customer Service
- Babysitter
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
AxelaCare, a 2013 acquisition of Harvest Partners, is moving on up into the Top 5 of home infusion companies. With the recent acquisition of SCP Specialty Infusion* (SCPSI) from Shore Capital Partners, the company will double its pharmacy network. SCPSI's pharmacy and infusion center locations span Arizona, New Mexico, California, Colorado and Oregon complementing AxelaCare's Southwest, Midwest and East Coast market coverage. Year end sales for the merged companies (AxelaCare and SCPSI) are projected to exceed $200M. >>Read more
*Includes Sirona Infusion, Access IV, HomeCare IV and Infusource
A few weeks back, the principals at MT Consulting (Steve Mountain & Tony Lynch) presented at one of the premier events for physical therapy business owners. The event, 2013 Private Practice Section Conference & Expo, was held in New Orleans and featured keynotes, educational sessions as well as a party in the SuperDome.
While thrilled with the opportunity to address this sharp group of professionals, there was a question if the MT topic would resonate with attendees. That concern was allayed when attendees trickled... then streamed into the session room with many forced to stand through the presentation.
Yes, Steve and Tony --- your topic, Valuing Your Business…What's Really Important? hit a chord among many in this time of healthcare changes and transition. The energy was high and the questions flowed as the MT team outlined key factors to monitor in a PT practice…whether owners were preparing for a sale or looking to benchmark practice performance. It was a good show and good showing...
Did you miss Steve and Tony's talk? Conference presentations were recorded and available on the PPS website.
QuadMed, LLC brought primary care inside a company with its first clinic for parent, Quad/Graphics. The business model - increased quality of care, decreased company healthcare costs, enhanced patient satisfaction - expanded to other employers over the last 20 years. This week, QuadMed announced completion of the acquisition of another Midwest-based provider of employer-sponsored on-site clinics, Novia CareClinics. QuadMed expects that the combined company will run 90+ clinic locations in 18 states serving 150 patients. >>Read more
