2013 Historical Transactions All Sectors

City: USA
Buyer: All Buyers
Seller: All Sellers
Date / Year: December 31, 2013
Sector: All Sectors
Keywords: Combined Keywords for 2013
  • Sector: Pharmacy – Sedell Pharmacy sold three of their original nine pharmacies to CVS, closing shop on their stores in Assonet Village, Lakeville and Carver. CVS on North Main Street in Fall River has taken on the customers and prescriptions of all Freetown Sedell customers. The CVS store is only about two miles south of Sedell’s.
  • Sector: Medical Supply Ansell Ltd (Iselin, NJ) reached an agreement to acquire BarrierSafe Solutions International (Lake Forest, IL) for approximately $615 million. BarrierSafe’s CEO Michael Mattos and COO/CFO Joseph Kubicek will become part of the Ansell leadership team once the transaction is finalized. The agreement is subject to U.S. anti-trust clearance and customary closing conditions. It is expected to be completed during Q1 2014.
  • Sector: Home Medical Advanced Home Care has merged with WellStar HME & Infusion to expand its footprint in Georgia, the provider has announced. Marietta, Ga.-based WellStar HME & Infusion provides home infusion, specialty pharmacy and home medical equipment and services in the greater Atlanta area. “We entered the Atlanta market at the beginning of 2013 with the purchase of a company in Norcross,” said Joel Mills, CEO of Advanced Home Care, in a release. “Our new relationship with WellStar strengthens our commitment to this region.” The merger also allows Advanced Home Care to broaden its services to WellStar Health System, an integrated healthcare delivery system that includes numerous medical centers, hospitals, urgent care centers and other providers. WellStar Home Health is not part of the merger and will continue to provide in-home nursing for infusion patients, according to the release. Advanced Home Care will continue to operate its Norcross location. In all, it has 34 locations throughout Georgia, North Carolina, South Caroline, Tennessee, and Virginia.
  • Sector: Medical Supply Henry Schein, Inc. recently announced the acquisition of a 60% stake in BioHorizons, a U.S based manufacturer of advanced dental implants with sales of $115 million. However, the financial terms of the agreement remain undisclosed. Post the takeover, BioHorizons will continue to operate as an independent company. The transaction involves a two-step process: a recapitalization through which Henry Schein will lend approximately $145 million to BioHorizons to fund distribution to shareholders, which will occur prior to the deal’s closure, followed by the equity investment. The transaction is expected to be sealed by the end of the year, subject to regulatory approval. Henry Schein expects the acquisition to be dilutive to its earnings per share by 3–5 cents in 2014 and accretive by 3–4 cents in 2015. The acquisition of BioHorizon marks Henry Schein’s entry into the global implant market, which is estimated to touch $4.2 billion by 2016. Combined together, the U.S and Canadian markets alone reveal a potential of $1.5 billion in 2016, up from $1 billion in 2012.
  • Sector: Home Infusion Pharmacy CVS Caremark announced the acquisition of Coram, the specialty infusion services, and enteral nutrition business unit of Apria Healthcare Group, for roughly $2.1 billion. Coram provides infusion therapies and nutrition services to more than 20,000 patients each month. The acquisition is a significant move for CVS Caremark given the growth of the home infusion business and specialty pharmacy. Furthermore, it enables CVS Caremark to further leverage its “integration sweet spots” and is in line with the company’s strategy of investing in core businesses that will help drive growth. The infusion services market is estimated to be around $11 billion and the acquisition will undoubtedly enable CVS Caremark to compete in the growing market as specialty infusion drugs account for a significant portion of new drugs in the pipeline. CVS Caremark executives have long expressed the company’s commitment to expanding its role in specialty pharmacy. Specialty currently represents about 20% of the total drug spend today, but that number is projected to rise to more to than 30% by the end of the decade.
  • Sector: Healthcare IT/Revenue Cycle Management Brightree LLC, the leading provider of cloud-based clinical, billing and business management software solutions for the post-acute care industry, announced that it has acquired MedAct LLC, a provider of home medical equipment (HME) and durable medical equipment (DME) software solutions. As the software vendor space continues to consolidate, Brightree expands its market presence by adding 330 HME customers to its growing family of more than 3,000 providers.
  • Sector: Medical Device CareFusion Corp. agreed to acquire the Vital Signs division of General Electric for $500 million as the medical-equipment company looks to expand its anesthesiology and respiratory business. CareFusion has been working to change its specialty-disposables business from being a specialty distributor to having a higher percentage of its products made in-house, a move that should help improve margins. CareFusion said it will acquire respiratory care and anesthesiology product manufacturer Vital Signs from GE Healthcare, a GE medical technologies and services business, adding that Vital Signs has $250 million in annual revenue.
  • Sector: Healthcare IT Streamline Health Solutions announces the acquisition of SaaS Solutions Company. The acquisition price reported was $6.5 million.
  • Sector: Medical Device Teleflex Inc (Limerick, PA) completed the acquisition of Vidacare Corporation (San Antonio, TX). The acquisition is not expected to significantly impact Teleflex’s 2013 revenue or adjusted earnings per share expectations. The transaction is expected to contribute approximately $68 million to $72 million of revenue and approximately $0.10 to $0.15 in adjusted earnings per share in FY 2014, excluding non-recurring purchase accounting items and other acquisition and integration related costs.
  • Sector: Medical Devices Water Street Healthcare Partners (Chicago, IL) sold Medical Specialties Distributors LLC (MSD) (Stoughton, MA) to New Mountain Capital (New York, NY). MSD is a distributor and solutions provider to the alternate-site home infusion therapy market. This is Water Street’s fourth divestiture in the past two months. It recently sold its pharmaceutical services company AAIPharma Services Corp (Wilmington, NC) to Cambridge Major Laboratories (Germantown, WI). In October 2013, Water Street sold two laboratory services companies: ConVerge Diagnostic Services (Peabody, MA) to Quest Diagnostics (Lawrenceville, GA), and PLUS Diagnostics (Union, NJ) to Miraca Life Sciences (Irving, TX). Water Street also recently invested in Temptime Corporation (Morris Plains, NJ).
  • Sector: Homecare Kindred Healthcare Inc (Louisville, KY) completed the previously announced acquisition of Senior Home Care Inc (Clearwater, FL) for $95 million. Senior Home Care is one of the largest home health providers in Florida and Louisiana, with 47 locations. It generates annualized revenues of approximately $143 million. Kindred expects that the transaction will be accretive to earnings in 2014. Kindred financed the transaction with operating cash flows and proceeds from its revolving credit facility.
  • 2013 Market Pulse Update – Q4 – So far in 2013, healthcare M&A markets delivered robust activity and increasing numbers of closed transactions. We expect this activity to continue through 2014 as the healthcare markets begin rapid expansion of the covered population. Corporate buyers and strategic private equity firms are actively pursuing both platform and accretive acquisitions as evidenced by strategic acquisitions and recent private equity portfolio exits shown below.There are numerous factors which are influencing this activity including strategic initiatives, strong corporate coffers, availability of capital and low-interest rates. The unprecedented demographics and opportunities created by the Affordable Healthcare Act, regardless of how flawed, are also driving the scope and breadth of the current market.As the demand and consumption of healthcare in the US surge, the providers across the healthcare supply chain will have increasing opportunities to significantly drive revenues. The key will be to implement best practices to properly scale operations and initiatives to protect profitability amidst declining gross margins. These dynamics will continue to propel M&A opportunities and strategic options for the owners of healthcare businesses.
  • Sector: Infusion Pharmacy Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has sold Stoughton, Mass.-based Medical Specialties Distributors, LLC (“MSD”) to New Mountain Capital. Water Street partnered with MSD’s management team in 2010 to build the company into the nation’s leading distributor and solutions provider to the growing alternate-site home infusion therapy market. MSD has achieved strong double-digit growth annually since Water Street invested in the company. Working with management, Water Street developed and executed a strategic plan that expanded MSD’s capabilities and extended its offering into new markets as demand for intravenous (IV) therapy in the home increased. In June 2013, MSD acquired Medical Technology Resources, LLC (“MTR”) to further its leadership position in the home infusion market. Today, MSD serves more than 4,000 health care providers across North America with a total enterprise solution comprised of infusion therapy products, supplies, biomedical services and information technology solutions.
  • Sector: Pharmacy The Medicines Company (NASDAQ: MDCO) today announced that it has acquired Rempex Pharmaceuticals, Inc., a company with multiple potential new therapies focused on multi-drug resistant gram-negative bacteria.
  • Sector: Home Infusion Pharmacy Private equity-backed AxelaCare Health Solutions has acquired SCP Specialty Infusion for an undisclosed amount. SCP is the parent company of home-based infusion service Sirona Infusion Inc., as well as Access IV, HomeCare IV and InfuSource. The companies provide services to patients who have been discharged from hospitals and need to receive antibiotics, hydration, antiemetic, nutrition and other intravenous therapies at their homes. The transaction doubles AxelaCare’s number of pharmacies. The Lenexa, Kan.-based company has pharmacies in Arizona, California, Colorado, Kansas, Louisiana, Maryland, New Mexico, Oklahoma, Oregon, Pennsylvania, with branches scheduled to open in Nebraska and New England.
  • Sector: Laboratory Devices Scientific Industries Inc (Bohemia, NY) proposed an agreement with Fulcrum Inc (Clifton, NJ) a privately-held company, to acquire its laboratory and pharmacy balance and digital scale business, including the Torbal DRX3 mechanical scale. Scientific estimates the total value of the deal to be approximately $1.7 million. The transaction is subject to completion of a purchase agreement which would provide for a consideration of cash, shares of common stock, and commissions on future sales of the products through the year ending June 30, 2017.
  • Sector: Medical Device Cantel Medical Corp (Little Falls, NJ) acquired Jet Prep Ltd (Herzliya, Israel). Jet Prep is the developer of the Jet Prep Flushing Device, a single-use irrigation and aspiration catheter intended to improve visualization during colonoscopy procedures. The Jet Prep Flushing Device has FDA (Silver Spring, MD) 510k and CE Mark clearances. Jet Prep will be integrated into Cantel’s Medivators Endoscopy (Minneapolis, MN) business, but will maintain its offices in Israel.
  • Sector: Home Health Kindred Healthcare Inc (Louisville, KY) signed an agreement to acquire Senior Home Care Inc (Clearwater, FL) for $95 million. The transaction will be financed with operating cash flows and proceeds from Kindred’s revolving credit facility. Senior Home Care is a home health provider that operates through 47 locations in Florida and Louisiana. Senior Home Care currently generates annualized revenues of approximately $143 million. Kindred expects that the transaction will be accretive to earnings in 2014.
  • Sector: Home Health Gentiva Health Services Inc (Atlanta, GA) closed on its acquisition of Harden Healthcare (Austin, TX) on October 18, 2013. Under the terms of the merger agreement, Gentiva acquired Harden’s home health, hospice and community care businesses for $408.8 million, consisting of $355 million in cash and $53.8 million in Gentiva common stock. Harden retained its long-term care business.
  • Sector: Pharmacy ScripsAmerica Inc (Tysons Corner, VA) signed an agreement to acquire PIMD International LLC (Miami, FL). PIMD International serves as a pharmaceutical wholesaler to pharmacies, hospitals, and physician’s offices in the U.S., in addition to selling medical supplies in all healthcare settings and online. PIMD will become part of ScripsAmerica upon the close of the transaction, which is expected later this quarter.
  • Sector: Medical Equipment Eternity Healthcare Inc (Vancouver, Canada) signed a letter of intent with Global Medical Equipment of America (GMEA) (Phoenix, AZ) to acquire all of the company through share exchange agreement. Under the agreement, Eternity will issue GMEA, and all of the shareholders of GMEA approximately 40,000,000 of its shares in exchange for all of the shares of GMEA and all of its shareholders. These new shares will be issued by ETAH at the time of the transaction. The share exchange agreement is expected to complete in Q1 2014. Eternity will move its headquarters from Vancouver, Canada to Phoenix, Arizona where it will become sequestered under the existing management of GMEA. GEMA’s current president and CEO, Harold Halman, will take the position as president and CEO of Eternity Healthcare. Dr. Hassan Salari will serve as executive chairman.
  • Sector: Medical Device Theragenics Corporation (Buford, GA) announced that its stockholders voted to approve the previously announced merger agreement whereby Juniper Holdings (Houston, TX) will acquire all of the outstanding common stock of the company for $2.20 per-share in cash. After the close of the transaction, the company’s common stock will no longer be publicly traded, and Theragenics will become a wholly-owned subsidiary of Juniper.
  • Sector: Laboratory Spectra Laboratories Inc (Milpitas, CA), a subsidiary of Fresenius Medical Care (Waltham, MA), signed a definitive agreement to acquire substantially all of the operating assets of Shiel Medical Laboratory Inc (Brooklyn, NY). The acquisition will expand Spectra’s existing laboratory services capabilities in the metropolitan New York market and allow it to serve a broader base of healthcare providers. Terms of the purchase were not disclosed. The transaction is expected to close in Q4 2013, pending regulatory approval.
  • Sector: Pharmacy McKesson Corp (San Francisco, CA) signed a deal to purchase the 50.01 percent stake in Celesio AG (Stuttgart, Germany) owned by the diversified holding company Franz Haniel & Cie (Duisburg, Germany) and is offering to buy the remaining shares for $31.70 each. Celesio is an international wholesale and retail company and provider of logistics and services to the pharmaceutical and healthcare Sectors. The total transaction, including McKesson’s assumption of Celesio’s outstanding debt, is valued at about $8.3 billion. McKesson plans to fund the deal from cash reserves and bridge financing, and expects the deal to result in annual savings of between $275 million and $325 million by the fourth year.
  • Sector: Medical Mfg Vention Medical has purchased Fast Forward Medical for an undisclosed amount. Fast Forward, headquartered in Minneapolis, makes technology for catheter manufacturing. Vention specializes in minimally invasive surgical products, including medical balloons, catheters, heat shrink tubing, polyimide, clean rom injection molding and other products. The acquisitions should expand Vention’s portfolio. Vention is owned by KRG Capital Partners, a Denver-based private equity firm. KRG has about $4.4 billion in capital under management, and invested in Vention in May 2008.
  • Sector: Surgical Supply Integra LifeSciences Holdings Corporation (Plainsboro, NJ) entered into a definitive agreement with Covidien (Mansfield, MA) to acquire the Confluent Surgical product lines, including surgical sealants, adhesion barrier, and DuraSeal. Covidien will receive an initial cash payment of $235 million from Integra upon the closing of the transaction. Additionally, Covidien may receive up to $30 million, contingent upon the achievement of certain performance measures related to the transition of the Confluent Surgical business to Integra. The agreement is expected to be completed by the end of Q1 2014, subject to receipt of regulatory approvals.
  • Sector: Healthcare Water Street Healthcare Partners sold its anatomic pathology company, PLUS Diagnostics, to Miraca Life Sciences. According to a release, the acquisition of PLUS makes Miraca the largest independent anatomic pathology laboratory company in the U.S. PLUS’ laboratories in New Jersey and California will be added to Miraca Life Sciences’ national network of seven labs, serving more than 5,500 patients each day.
  • Sector: Pharmaceutical Teleflex Inc (Limerick, PA) entered into a definitive agreement to acquire Vidacare Corporation (San Antonio, TX). Vidacare is a provider of intraosseous (IO) (inside the bone) access devices, which incorporate a patented power driver and needle system to access the intraosseous space for a variety of medical, diagnostic, and therapeutic purposes. Vidacare’s product line includes the EZ-IO Intraosseous Vascular Access System, the OnControl™ Bone Marrow System, and the OnControl™ Bone Access System. Teleflex will initially fund the transaction with borrowings from its revolving credit facility. The transaction is valued at $262.5 million, net of cash acquired, and is expected to be completed in late Q4 2013, following customary closing conditions including receipt of certain regulatory approvals.
  • Sector: Pharmacy Services Magellan Health Services, Inc. has completed the acquisition of Partners Rx Management, LLC, a commercial PBM with a focus on health plans and self-funded employers. The $100 million cash transaction was announced in September and closed on October 1st. The transaction complements Magellan’s medical and specialty pharmacy capabilities and will allow the company to improve its PBM capabilities and expand its presence in the market. Partners Rx has over 300,000 covered PBM lives and expects 2013 revenue of $240 million.
  • Sector: EMS Services EMS Capital Partners has acquired Mansfield Ambulance Service, Critical Life Services, and Smith Ambulance to be combined to create a new entity called American EMS. This consolidation is meant to diversify the service offerings in each while taking advantage of an integrated approach among the three existing companies. Fifth Third Bank provided the senior debt financing while Bay Capital Investment Partners provided the subordinate debt financing. Combined revenues are estimated to exceed $10MM.
  • Sector: Hospice Hospice of Palm Beach County and Hospice by the Sea, two non-profit hospice services providers, are merging in an effort to lower their administrative costs and expand their combined offerings to clients. Hospice by the Sea and Hospice of Palm Beach County announced an agreement to operate under a single parent company. Hospice by the Sea offers home health services, caregiver support services and a palliative care program. Hospice of Palm Beach County offers a pharmacy program, a durable medical equipment service, central distribution facilities and a payment of patient services foundation.
  • Sector: Physical Therapy ATI Physical Therapy acquired North River Physical Therapy, an eight clinic practice with locations in Tennessee and Georgia. With the transaction, ATI now has over 275 clinics in ten states. Financial terms were not disclosed.
  • Sector: Behavioral Health Bregal Partners announced that it has acquired U.S. Community Behavioral, LLC as a platform in the community-based behavioral health Sector. With U.S. Community Behavioral’s strong management team, Bregal Partners intends to grow aggressively through organic growth and acquisitions to become a national provider while continuing to deliver high quality care to its clients.
  • Sector: EMS Services Acadian Ambulance Service, a provider of medical transportation to millions of residents in Louisiana, Texas and Mississippi, has acquired Care Ambulance, an emergency and non-emergency ground ambulance provider serving the Tulane healthcare system in Louisiana. The acquisition will expand Acadian’s operations in the New Orleans market.
  • Sector: Behavioral Health People Resources, Inc. (PRI) was acquired by E4 Health, a portfolio company of Kinderhook Industries LLC and Mansa Capital LLC. This deal represents a push to further integrate E4 Health’s EAP platform, specifically on the student behavioral services side. PRI has recognized strength and expertise in the student assistance market, in which E4 is rolling out a new service platform.
  • Sector: Laboratory BelHealth Investment Partners has formed a new entity named General Genetics Corporation and has acquired three genetic testing laboratories in New Mexico: Genetics Testing Laboratories, Forensic Testing Laboratory, and Clinical Testing Laboratories. General Genetics Corporation will provide services such as DNA confirmations, forensic analysis, and genetic predisposition testing to the law enforcement and legal communities. The Company will serve as BelHealth Investment Partners’ platform in the Sector as the group looks to embark upon a roll-up growth strategy. The financial terms of the deal were not disclosed.
  • Sector: EMS Services American Medical Response has announced the acquisition of Life Line Ambulance. Life Line provides emergency and non-emergency ambulance services in a 9,000 square mile service area in Northern AZ. The Company deploys 30 ambulances with a staff of nearly 200 members. The acquisition will expand AMR’s AZ operations while providing Life Line with the operational support and resources of a national organization.
  • Sector: Physical Therapy Professional Physical Therapy, a portfolio company of Great Point Partners, acquired Joint Effort Physical Therapy, a provider in NYC. The acquisition expands Professional’s presence in the city and enhances the treatment plans for it’s patients. Financial terms of the transaction were not disclosed.
  • Sector: Home Health Alegis Care, a multi-specialty, medical health services organization dedicated to creating a comfortable medicinal home experience for homebound Medicare and Medicaid patients, has been acquired by Cigna Corporation. Financial terms of the transaction were not disclosed. By the end of 2013, Alegis Care will provide services to nearly 31,000 seniors across 10 states, including Cigna-HealthSpring customers in Delaware, Illinois, Maryland, Pennsylvania and Washington, D.C.
  • Sector: Home Health No Place Like Home Senior Care LLC (No Place Like Home) has been acquired by EmRes Healthcare Management, LLC (EmRes Healthcare), a 100% employee owned company providing management consulting and other services to healthcare communities that offer quality long-term care and specialty healthcare services. No Place Like Home provides personal services to assist the elderly with staying independent and enjoying life as long as possible.
  • Sector: Home Health & Hospice Gentiva Health Services Inc and Harden Healthcare Holdings Inc entered a definitive merger agreement whereby Gentiva will acquire Harden for $408.8 million. Gentiva will acquire Harden’s home health, hospice, and community care businesses; however Harden’s existing shareholders will retain the company’s long-term care business. The agreed-upon purchase price is approximately $408.8 million, consisting of $355 million in cash and approximately $53.8 million in Gentiva common stock. As part of the transaction, Gentiva will become a preferred provider for Harden’s 49 skilled nursing and assisted living facilities in Texas. The transaction was approved by the board of directors of each company and by Harden’s shareholders. The transaction is scheduled to close Q4 2013, subject to customary closing conditions. Gentiva expects the acquisition to be accretive to adjusted income per share, exclusive of one-time costs, within the first 12 months following closing.
  • Sector: Healthcare Services Interim HealthCare Inc completed the acquisition of Bluebird Care Franchises Ltd. Founded in 2004, Bluebird Care has more than 180 franchise operations providing non-medical care services in England, Wales, Scotland, Northern Ireland, and the Republic of Ireland. Paul and Lisa Tarsey, Bluebird Care’s founders, and Simon Dalziel will continue in leadership roles in the company. Interim HealthCare and Bluebird Care will continue to operate as separate entities, under their own brand names, in their respective countries. With the acquisition, Interim HealthCare now has approximately 500 locations and 250 franchise owner groups in six countries, for a combined network sales of more than $850 million.
  • Sector: Home Health Almost Family, Inc. a leading regional provider of home health nursing services, announced plans to acquire the assets of the home health agencies owned by Indiana Home Care Network (IHCN). Almost Family will pay a purchase price of $12.5M. IHCN provides home health services in six locations throughout Indiana.
  • Sector: Home Health Oncologix Tech Inc. has purchased Angels of Mercy, Inc. (Angels of Mercy). Angels of Mercy began operations in 2001 in Louisiana and delivers training and education to Personal Care Assistants who provide routine health and personal care support and assistance with Activities of Daily Living (ADL) to patients with physical impairments or disabilities in private homes, nursing care facilities, and other residential settings. Terms of the transaction were not disclosed.
  • Sector: Laboratory John Muir Health System entered an agreement to sell its 26 MuirLab locations and the client list of office-based physicians and hospitals served by the labs, to Laboratory Corporation of America Holdings (LabCorp) (Burlington, NC). Under the agreement, LabCorp will also become the preferred provider of reference lab services for John Muir Health and its affiliates. Terms of the agreement, expected to close in November 2013, were not disclosed.
  • Sector: Healthcare IT Marlin Equity Partners® announced that it has acquired 6N Systems, Inc. a leading provider of financial and clinical software solutions that streamline workflow, information management and operations for the long-term and post-acute care market. The company’s solutions include a comprehensive suite of fully integrated financial billing, order and workflow management, point-of-care documentation and reporting tools that help providers improve patient outcomes. 6N has been merged with SigmaCare, a Marlin portfolio company, creating a market leader in financial and clinical software solutions to the long-term and post-acute care market.
  • Sector: Medical Device Salt Creek Capital completed the acquisition of Ultra Solutions. Located in Ontario, California, Ultra is one of the largest providers of high-quality, pre-owned ultrasound equipment in the industry. The company repairs and sells its extensive inventory of refurbished ultrasound equipment to hospitals, imaging centers, physician practices and wholesale distributors throughout North and South America, Europe and Asia.
  • Sector: Physician Services DaVita HealthCare Partners, Denver, is expanding its multispecialty medical group operations into a fifth state with the acquisition of Arizona Integrated Physicians. HealthCare Partners—a DaVita subsidiary since last November—already operates physician networks in California, Nevada, Florida and New Mexico. Its latest buy adds 700 physicians and allows it to join forces with one of the largest independent medical organizations in Arizona.
  • Sector: Pharmacy Walgreen Co announced the acquisition of Kerr Drug’s 76 retail drugstores and its specialty pharmacy business to expand its North Carolina presence. The deal also includes a distribution center, but does not include Kerr’s long-term care pharmacy business, a privately held regional chain. Kerr’s retail and specialty business recorded $381 million in sales for FY 2012. The deal is expected to close by the end of 2013. Financial terms were not disclosed, but Walgreens did say it will have no material impact on FY 2014 earnings per share.
  • Sector: Medical Device Dialysis Baxter International agreed on Tuesday to buy the Swedish medical equipment manufacturer Gambro for $2.8 billion. Under the terms of the deal Baxter will gain access to the Swedish company’s lineup of medical equipment to expand its own range of dialysis products and build global market share.
  • Sector: HomeCare Best of Care Inc., a Quincy, MA based home care firm, has acquired Boston-based Independence Home Care. The merger boosts Best of Care’s resources across Eastern Massachusetts from the North Shore to Cape Cod, serving a total of 115 towns. Terms of the deal were not disclosed. Both firms are privately held, family run businesses. Best of Care will take on 30 new employees from IHC. Best of Care, launched in 1981. The company provides services including personal care services, homemakers and companions, hospice care, private nursing, nursing care management and specialty services for patients with dementia, mental illness and acquired brain injury care.
  • Sector: Hospice Huntsville Hospital Health System and Hospice Family Care have embarked on a merger which leaders promise will provide better care for terminally ill patients and, ultimately, a new full scale inpatient hospice facility for the region, the two non-profits jointly announced
  • Sector: Home Health Livingston County officials announced the county’s public health department decision to sell the county’s certified home health agency to Visiting Nursing Association of Western New York.
  • Sector: PBM Pharmacy WellCare Health Plans Inc (Tampa, FL) will acquire Windsor Health Group Inc (Atlanta, GA). Windsor serves Medicare beneficiaries with Medicare Advantage, Prescription Drug Plan (PDP), and Medicare Supplement products. Windsor offers Medicare Advantage plans primarily in Mississippi, Tennessee, Arkansas, and South Carolina, and serves about 59,000 members. Members and policyholders will experience no change in their plan benefits and coverage as a result of the acquisition. The acquisition is expected to close in early 2014, subject to customary regulatory approvals. Financial terms were not disclosed.
  • Sector: Specialty Pharmacy BelHealth Investment Partners , a healthcare-focused private equity firm, announced it has completed its acquisition of Linden Care LLC. Linden Care, headquartered in Syosset, NY, provides specialty pharmacy services to the pain management industry. Since inception, the Company has distinguished itself by providing robust and differentiated compliance practices as well as a full suite of “specialty” services to meet the needs of patients, physicians, pharmaceutical manufacturers and professional sports teams. The Company will continue to expand this successful strategy, currently focused on the Northeast, throughout the rest of the country, becoming the national center of excellence for pain management.
  • Sector: Healthcare IT Partners HealthCare System has joined with the investment arms of Kaiser Permanente and Indiana University in an $8 million equity placement in a Utah data warehousing and analytics firm, Health Catalyst, reflecting what some predict will be the next big category in health information technology spending.
  • Sector: Healthcare Facilities Kindred Healthcare, Inc. (NYSE: KND) announced today that it has signed an agreement to sell 17 of its facilities to an affiliate of Vibra Healthcare, LLC, for $187 million. The facilities consist of 15 transitional care hospitals containing 1,052 beds, one inpatient rehabilitation facility containing 44 beds and one skilled nursing facility (SNF) containing 135 beds. Six of Kindred’s transitional care hospitals and the lone SNF are owned, whereas the remaining facilities are leased—each facility is outside of the company’s 21 designated integrated care markets. Together, the facilities generated revenues of approximately $289 million and earnings before interest, income taxes, depreciation and amortization (EBITDA) of $20 million for the year ended December 31, 2012.
  • Sector: Pharmaceutical Teva Pharmaceutical Industries will spend up to $165 million to buy a company developing a drug to prevent viral respiratory infections. Teva said it would acquire MicroDose Therapeutx for $40 million, plus up to $125 million in milestone payments and sales milestones and royalties from its lead product, MDT-637, an inhaled treatment for respiratory syncytial virus, or RSV.
  • Sector: Home Health LHC Group Inc. (NASDAQ: LHCG) has entered into a purchase agreement to acquire select assets of AseraCare Home Health. The transaction will expand LHC Group’s geographical footprint to 310 locations across 26 states. The acquisition will include four home health agencies located in Atlanta, GA; Bloomington, MN; Milwaukee, WI; and Pittsburgh, PA. The agencies’ annual revenue is around $5 million. With the acquisition, LHC now has 310 locations in 26 states.
  • Sector: Healthcare IT/Rev Cycle Mgmt. Mediware Information Systems, Inc. announces that it has acquired Fastrack Healthcare Systems, Inc., a home medical equipment (HME) and home infusion therapy software solutions company. Mediware acquired more than 300 new customers and the related expertise, products, services and contracts of Fastrack. Mediware plans to combine the Fastrack business with its existing Alternate Care Solutions business line. Mediware has operated in the HME, home infusion therapy and home health nursing software Sector by building a portfolio of homecare solutions through acquisitions that began in 2008. Mediware was founded in 1970 and began offering software solutions in 1980 to help providers excel in high-growth, complex patient care environments that remain underserved by existing vendors. The company employs more than 400 subject matter experts who deeply understand business and care processes in highly specialized acute, non-acute and community-based care settings and have years of experience integrating systems. Mediware’s portfolio of solutions currently includes blood services, cellular therapy, medication management, physical rehabilitation, respiratory therapy, behavioral health and homecare.
  • Sector: Mobility Products Harmar is pleased to announce its new partnership with Cortec Group, a leading investor which focuses on high-growth investment opportunities in the health care and wellness markets. Over the last 14 years Harmar has become an undisputed leader in the design and manufacture of mobility and accessibility products. Through this new partnership with another industry leader it expects to improve every aspect of its customers’ experiences, broadening its already extensive high quality product offering and providing unmatched service to its loyal and extensive customer base. The company says it is excited to have Cortec Group as a partner as it enters its next stage of growth and has no doubt this will lead to a bigger, stronger and better Harmar. Harmar is one of the world’s leading manufacturers of mobility and accessibility products. As “America’s Lift Leader,” the company has over 3000 dealers throughout the U.S. and worldwide. They represent auto lifts, stair lifts, vertical platform lifts, incline lifts, elevators, pool lifts and other specialized mobility solutions.
  • Sector: Pharmacy Loblaw and Shoppers Drug Mart announced on Monday a definitive agreement under which Loblaw will acquire Shoppers Drug Mart for C$12.4 billion in cash and stock.
  • Sector: HME/Sleep Sanomedics International Holdings has entered into a definitive agreement to acquire its second sleep services business, Baytown, Texas-based Duke Medical, for $7 million. Duke Medical generated about $4 million in revenue and an EBITDA of $1.5 million in 2012, and is on target to hit an EBITDA of $2 million this year. Duke Medical provides medical products and supplies to patients with sleep apnea throughout Houston and Galveston. Vann Duke, who has held positions at Rotech Healthcare, Apria Healthcare and Lincare, leads the company. “This acquisition will take Sanomedics into new geographic markets and expand our efforts to build out a national platform of our sleep apnea service and product offerings,” stated Keith Houlihan, co-founder and president of Sanomedics, in a press release. The purchase price includes cash, the issuance of common shares of Sanomedics and debt consideration. The deal is expected to close by Sept. 30, 2013. In 2012, Sanomedics signed letters of intent to buy two unnamed sleep services businesses on the East and West coasts. Earlier this year, it also acquired Prime Time Medical, a Largo, Fla.-based HME provider, for $3 million.
  • Sector: Home Infusion Pharmacy BioScrip announced last week that it plans to acquire Cincinnati, Ohio-based CarePoint Partners for $223 million. Under the deal, BioScrip will gain approximately 20,500 patients, bringing its total to 100,000, mostly in the eastern half of the country. “With the market as robust as it is right now, they are wise to do an opportunistic transaction,” said Jonathan Sadock, managing partner with Paragon Ventures. “It’s a nice price and they have been growing this business.” It’s the third buy in home infusion in the past year for BioScrip: In July 2012, it acquired InfuScience for approximately $38.3 million; and in early 2013, it acquired HomeChoice Partners for $70 million. BioScrip also sold its specialty and mail-order pharmacy divisions to Walgreens for $225 million in May of 2012, narrowing its focus to home infusion even further. CarePoint, which came onto the scene in 2008, has 28 locations in nine states in the East Coast and Gulf Coast regions. The provider, backed by Chicago-based private equity firm Waud Capital Partners, formed with the intent of rolling up smaller mom-and-pop providers and, under the leadership of CEO Dana Soper, it has made more than a dozen acquisitions.
  • Sector: Homecare/Hospice Kindred Healthcare Inc (Louisville, KY) signed a definitive agreement to sell eight non-strategic nursing centers to affiliates of Signature HealthCARE LLC (Louisville, KY) for approximately $49 million. Kindred will use the net proceeds of the Signature transaction to pay the outstanding balance on its revolving credit facility. Kindred expects the transaction to be slightly dilutive to earnings in 2013. The facilities Kindred is selling to Signature contain 996 licensed nursing center beds. Five of the facilities are owned and the rest of the facilities are leased. RBC Capital Markets (Montreal, Quebec, Canada) served as the exclusive financial advisor to Kindred on the Signature transaction. In addition, Kindred purchased the previously leased real estate of 73-bed Kindred Hospital Bay Area Tampa (Tampa, FL) for approximately $25 million. One of Kindred’s subsidiaries signed a definitive agreement to acquire the assets of Arrowhead Home Health Inc (Phoenix, AZ) and Arrowhead Hospice Centers Inc. Another Kindred subsidiary signed a definitive agreement to acquire the assets of All Hearts Home Health Agency (Norfolk, VA). Terms of the transactions were not disclosed. Kindred expects all aforementioned transactions to close in Q3 2013,
  • Sector: Hospice LHC Group Inc. has acquired the assets of Infirmary Hospice Care in the State of Alabama, which is a Certificate of Need (CON) State for hospice services. The acquired hospice agency, located in Mobile, Alabama, will continue to operate under the name Infirmary Hospice Care through the remainder of 2013 and serve Mobile and Baldwin counties. Current annual revenue for this agency is approximately $2.5 million. This hospice acquisition continues LHC Group’s strategy of acquiring hospice providers located within the Company’s current home health markets. LHC Group currently owns 34 hospice locations across 10 states.
  • Sector: Medical Mfg Vention Medical, announced its acquisition of RiverTech Medical, a supplier of polyimide tubing, braided polyimide, composite tubing and wire coatings for numerous medical devices and medical device applications.
  • Sector: Medical Device ZOLL Medical Corp (Chelmsford, MA) acquired LIFEBRIDGE Medizintechnik AG (Ampfing, Germany). LIFEBRIDGE Medizintechnik makes medical devices for emergency use that provide circulatory support and extracorporeal oxygenation to patients in acute circulatory or respiratory failure.
  • Sector: Nursing Services Abington (Pa.) Health announced that the acquisition of the North Penn Visiting Nurse Association has been finalized, effective April 1, according to a news release. The NPVNA’s 100 professional staff members have joined Abington Health Home Care and Hospice, which employs 200 professionals who provide home care and hospice to residents in parts of Bucks, Montgomery and Philadelphia counties. Along with staff members, the NPVNA services transitioning to Abington Health include a chronic care management program, Meals on Wheels, clinics for children and dental services, and health education classes, support groups, health screenings and CPR training. These services will continue to be provided at the Medical Campus Drive facility on the Lansdale Hospital campus.
  • Sector: Medical Device ArthroCare Corp., an Austin-based developer and manufacturer of surgical products, has completed its acquisition of San Antonio’s ENTrigue Surgical Inc., a privately held medical device company. ArthroCare says it paid $45 million in cash to acquire ENTrigue, which primarily develops materials and medical devices for sinus-related surgeries. ENTrigue designs and develops innovative implants, disposables and instruments for endoscopic sinus surgery including balloon dilation. The company will now operate within ArthroCare’s ENT product area as a complement to the company’s Coblation and Rapid Rhino product lines currently being used by ENT surgeons worldwide.
  • Sector: Medical Device LeMaitre Vascular Inc (Burlington, MA) acquired the assets of Clinical Instruments International Inc (Southbridge, MA) for $1.1 million. Clinical Instruments manufactures carotid shunts and embolectomy catheters. The acquisition brings two new products to LeMaitre Vascular – latex-free carotid shunts and latex-free dual-lumen embolectomy catheters.
  • Sector: Medical Device Stinger Medical – a manufacturer and provider of mobile clinical workstations and medical technologies known for its advanced power systems – has merged with Enovate, a manufacturer and provider of mobile and wall-mounted clinical work station solutions known for its aesthetics and ergonomically advanced design technologies. The combined companies will be named Enovate Medical and will be the largest provider of mobile clinical workstations in the country. Stinger Medical CEO Nick Mendez will lead the combined organization. The company will maintain locations in Michigan and Tennessee.
  • Sector: Medical Lab Roche (Basel, Switzerland) will buy Constitution Medical Investors (CMI) (Boston, IL). CMI is developing a testing system for blood diseases like anemia and leukemia. Roche will have an upfront payment of $220 million, in addition to future payments dependent on certain milestones.
  • Sector: Medical Device Hawkeye Distributing LLC (Lakeland, FL), the management company for the Cool-View medical lighting product line, was acquired by OptiLight LLC (Austin, TX). OptiLight was formed specifically to acquire Hawkeye assets, including the intellectual property rights for Cool-View, and global sales and distribution agreements. Brad Hummel, founder and managing member of OptiLight, will serve as Hawkeye’s CEO, and VP Linda Donaldson will continue to manage the company’s offices in Lakeland, Florida.
  • Sector: Medical Device Boston Scientific Corporation (Natick, MA) signed a definitive agreement to acquire Bard EP (Lowell, MA), the electrophysiology (EP) business of C.R. Bard (Murray Hill, NJ), for $275 million in cash. The company expects to complete the transaction in the second half of 2013. Bard EP will become part of Boston Scientific’s existing EP business in the company’s Rhythm Management unit. Boston Scientific expects the net impact of this transaction on adjusted earnings per share to be immaterial for 2013, slightly accretive in 2014, and dilutive on a GAAP basis in both years as a result of acquisition-related net charges and amortization, which will be determined following the closing.
  • Sector: Healthcare IT EDG Partners Fund II recently completed a majority recapitalization of Peak Health Solutions, a leading provider of end-to-end health information management services to health plans and providers. As part of Peak’s strategy to expand on its industry leading retrospective and prospective risk adjustment solutions, the company completed the acquisition of Health Data Essentials (HDE). The acquisition of HDE delivers expertise as well as the company’s flagship product, EssentialStars™, enabling Peak to offer Medicare Advantage plans with advanced analytics and services built around risk adjustment and Stars quality improvement. Steve Roberts, an experienced healthcare executive, will lead the combined company as President and Chief Executive Officer. Roberts, who brings 20 years of health information technology experience, will ensure Peak is the reliable and innovative partner health plans and providers demand. Previously, Roberts was President of Practice Technologies at Henry Schien, the largest provider of services and products to office based practitioners, and Chief Operating Officer at Healthport, the nation’s largest provider of release of information services. HDE founder Richard Lieberman and Peak co-founders Gabe Stein and Justin Schmidt will maintain key leadership roles within the organization.
  • Sector: Senior Living/Hospice The Ensign Group, Inc., the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care, assisted living and urgent care companies, announced today that it acquired Santa Maria Terrace, a 110-unit assisted living facility in Santa Maria, California. The Asset acquisition was effective Friday, May 31, 2013 and the transfer of operations was effective Saturday, June 1, 2013. Bridgestone expects operations in Santa Maria Terrace, which had an occupancy rate of approximately 51% at acquisition, to be mildly accretive to earnings in 2013. In a separate transaction on the same day, an Ensign subsidiary also acquired Lake Ridge Senior Living, a 69-unit assisted living facility in Orem, Utah, which will be operated by a subsidiary of Bridgestone. The purchases were made with cash and bring Ensign’s growing portfolio to 118 healthcare facilities, 95 of which are Ensign-owned, seven hospice companies and nine home health businesses across 11 states.
  • Sector: Medical Device Mindray Medical International Limited (Shenzhen, China) completed the acquisition of ZONARE Medical Systems Inc (Mountain View, CA) for a total purchase price of $101.7 million in cash. Mindray will maintain ZONARE’s brand and existing operations under its current management team. Mindray expects the deal to be slightly dilutive to its full-year 2013 and 2014 earnings.
  • Sector: Medical Device Cynosure Inc (Westford, MA) completed its acquisition of Palomar Medical Technologies Inc (Burlington, MA) through a cash transaction of approximately $287 million. The acquisition is expected to be accretive to Cynosure in calendar year 2014. Michael Davin will serve as chairman and CEO; Joseph Caruso will join Cynosure’s board of directors as vice chairman and also serve as president; and Timothy Baker will serve as EVP, COO, and CFO. Cynosure plans to relocate its headquarters to Palomar’s facility in Burlington, Massachusetts.
  • Sector: Medical Device Wright Medical has agreed to sell its OrthoRecon hip and knee business to MicroPort Scientific for $290 million in cash. Wright’s OrthoRecon business generated about $269 million in revenue for 2012 and proceeds from the sale will be used to further growth in its Extremity ankle and biologic segment. The medical device maker said it expects about $235 million to $240 million of revenue in 2013 for its Extremity segment and will revise its previously issued outlook.
  • Sector: Orthopedics Pharos Capital Group, LLC, a private equity firm based in Dallas and Nashville, announced it has sold its stake in portfolio company Pioneer Surgical Technology, Inc. (“Pioneer”) as part of the company’s acquisition by RTI Biologics Inc. for $130 million of cash proceeds. Pioneer, based in Marquette, MI, is a leading manufacturer and distributor of metal and synthetic implant products for the orthopedics, biologics, spine, trauma and cardiothoracic markets. Pharos first invested in the company in December 2006, leading a syndicate of investors in a $30.5 million Preferred Equity private placement. Pharos later led a follow-on Series B investment of $17 million in December 2008.
  • Sector: Medical Lab Techne Corporation (Minneapolis, MN) finalized its acquisition of Bionostics Holdings Limited (Devens, MA) and its operating subsidiary Bionostics Inc, for approximately $104 million in cash. Bionostics manufactures and distributes control solutions that verify the proper operation of in vitro diagnostic (IVD) devices primarily utilized in point of care blood glucose and blood gas testing.
  • Sector: Retail Pharmacy Bartell Drugs has purchased the purchase of the pharmacies — in Everett and Marysville, Wash. — from The Everett Clinic. Bartell will begin operating them on June 10, bringing its total number of stores to 60. “The Everett Clinic is well-respected and shares many of our values regarding serving patients and customers,” Bartell chairman and CEO George Bartell said. “The acquisition of these pharmacies allows both organizations to work together to strengthen their presence in Snohomish County.” Snohomish County is to the north of King County, where Seattle is located, and together with King and Thurston counties is part of Washington state’s Puget Sound region. Most of the pharmacists and technicians from The Everett Clinic will remain employed at the pharmacies following the transition.
  • Sector: Healthcare IT Healthland (Minneapolis, MN) acquired American HealthTech (Jackson, MS), an integrated software and electronic health records (EHR) solutions provider for post-acute facilities. Each company will continue operating under its own brand and serving its traditional markets, the companies will collaborate to link resources in order to expand offerings to customers. Together, the combined business will provide a shared health record covering the entire care continuum, including preventive, outpatient, inpatient, post-acute, and in-home care.
  • Sector: Pharmacy DW Healthcare Partners-backed ASL Pharmacy has acquired Sinus Dynamics. BB&T Capital Partners invested $10 million of subordinated notes and $3 million of preferred equity through its BB&T Capital Partners Mezzanine Fund II to support the transaction. ASL is a compounding pharmacy focused on topical treatments for chronic sinusitis and received an investment from DWHP last year.
  • Sector: Pharma Actavis will acquire Warner Chilcott for $8.5 billion. Actavis said its acquisition of the Dublin-based company would result in combined sales of about $11 billion, with a focus on women’s health, gastroenterology, urology and dermatology products. Actavis announced its intention to acquire Warner Chilcott two weeks ago, saying at the time that a deal had not been reached, though it announced last week that it had filed for approval of the deal with Irish regulators. As of Monday, the boards of directors of both companies have approved the deal, and it is expected to close by the end of this year.
  • Sector: Senior Living Chartwell Retirement Residences (TSX: CSH.UN) accepted an offer of $80.9 million from Brookdale Senior Living Inc. (NYSE: BKD). The price paid, $61 million in debt (mostly assumed) and the rest in cash, was for seven senior living communities located in Alabama (1), Arizona (2), Georgia (2), Louisiana (1) and Oklahoma (1). Brookdale has been managing all but the Alabama community since its September 2011 acquisition of Horizon Bay. The deal adds 613 units, with 493 assisted living, 80 independent living and 40 Alzheimer’s units.
  • Sector: Healthcare Finance Fifth Street Finance Corp. (Nasdaq: FSC) announced that it has entered into a definitive agreement to acquire Healthcare Finance Group, LLC (“HFG”) as a portfolio company. HFG is a specialty lender providing asset-based lending and term loan products to the healthcare industry. Since its founding, HFG has financed in excess of $21 billion in receivables. To effect the acquisition, Fifth Street anticipates investing approximately $110 million and intends to finance the purchase with available liquidity, including operating cash and borrowings under Fifth Street’s existing credit facilities. HFG’s senior management team has an average of 24 years of healthcare finance or related industry experience and will provide continuing leadership to HFG going forward. Fifth Street expects that the HFG acquisition will be accretive to net investment income. HFG’s total outstanding loan portfolio, as of May 6, 2013, consisted of 57 loans with a value of approximately $270 million. Fifth Street believes that HFG’s niche focus in the healthcare industry offers the potential for strong asset quality and attractive yields, even during challenging economic or debt capital market conditions. HFG has a quality track record of managing credit risk since inception in 2000.
  • Sector: Home Health Kindred has signed a definitive agreement to acquire Caring Hearts Home Health (“Caring Hearts”), a provider of home health services that operates two locations in Big Spring, Texas and Odessa, Texas that serve the West Texas market. Caring Hearts currently generates annualized revenues of approximately $1.6 million. Kindred at Home, through its affiliate IntegraCare, currently provides Home Health or Hospice services in 46 cities in Texas, including the Company’s Dallas Integrated Care Market. Terms of the transaction were not disclosed. The transaction is subject to several regulatory approvals and other conditions to closing and is expected to close in the second quarter of 2013.
  • Sector: Sleep National Sleep Therapy (NST) has acquired Rest Ensured Medical (REM), kicking off a “growth phase” for the four-year-old company. NST believes that changing regulations and decreasing reimbursements have created significant opportunity for “innovative healthcare companies,” the company stated in a press release. “National Sleep Therapy is perfectly positioned to expand on its success and raise the quality of sleep therapy service in this country by acquiring niche sleep companies that can fit our unique model,” stated Eric Cohen, president and co-found of National Sleep Therapy. Terms of the deal were not disclosed.
  • Sector: Home Health Kindred has signed a definitive agreement to acquire QStaff Home Healthcare and Advanced Care Hospice (“QStaff”). Terms of the transaction were not disclosed. QStaff is a high-quality provider of home health and hospice services that operates one location in the Houston, Texas market and provides services in five counties. QStaff currently generates annualized revenues of approximately $2 million. The QStaff operations will allow Kindred to expand its services in the Company’s Houston Integrated Care Market, where it currently operates 13 Transitional Care Hospitals, two Inpatient Rehabilitation Hospitals and, through its RehabCare division, one hospital-based Acute Rehabilitation Unit. The transaction is subject to several regulatory approvals and other conditions to closing and is expected to close in the second quarter of 2013. The Company expects that the transaction will be slightly accretive to earnings in 2013.
  • Sector: DME Preferred Home Health Care & Nursing Services, Inc. (PHHC), a leader in providing home care to residents of New Jersey and Pennsylvania, announces the acquisition of Acelleron Medical Products, a durable medical equipment (DME) company that focuses on the distribution of nebulizers, breast pumps and other medical products. The acquisition of Andover, Massachusetts-based Acelleron will allow PHHC to expand its home care expertise and geographic reach into New England. “We are very happy to bring the Acelleron team into the Preferred family,” said Joel Markel, President of PHHC. “We look forward to the opportunity to bring excellent home health care to many families and communities in New England.” Preferred, which anticipates Acelleron’s full integration by the third quarter of 2013, will export its home care expertise to the New England region, while simultaneously importing Acelleron’s knowledge of medical equipment to its core home care markets of New Jersey and Pennsylvania. “We anticipate this acquisition to be truly symbiotic,” remarked Todd Thiede, CFO of PHHC. “Our product lines complement each other, and Preferred can take one more step toward broadening our reach and meeting more of our clients’ direct needs.”
  • Sector: HME Sanomedics International, a medical technology holding company, has acquired Prime Time Medical, a Largo, Fla.-based HME provider, for $3 million, according to a press release. The acquisition is Sanomedics’ third in the HME industry. “Prime Time Medical is another step in our continual process of expanding our portfolio while we implement our growth strategy,” stated Keith Houlihan, co-founder and president of Sanomedics. Sanomedics seeks to acquire sleep therapy operating businesses to develop a portfolio of products and services in this growing market. Its goal: to provide sleep apnea patients with an “end-to-end” service platform, according to the release. Prime Time Medical, a provider of mobility devices, portable oxygen concentrators, compressors, diabetic supplies and respiratory products, posted about $5 million in revenue for 2012, according to the release.
  • Sector: HME Global Medical Equipment of America (GMEA) announced that it has acquired Allen Medical Supply in Opelousas, La. Allen Medical Supply offers durable medical and respiratory equipment, power wheelchairs and orthotics. It’s the third acquisition for GMEA. Terms of the deal were not disclosed.
  • Sector: Ambulance Transport Emergency Medical Services Corp., the largest U.S. provider of ambulance services, has selected underwriters for a $750 million initial public offering. The Greenwood Village, Colorado-based company, is backed by private equity firm Clayton, Dubilier & Rice LLC. An IPO would bring EMSC back to the stock market just two years after it was taken private. Clayton, Dubilier & Rice acquired EMSC in 2011 for $2.9 billion. It also assumed $300 million of the company’s debt. EMSC was founded in 2005 when Canadian private equity firm Onex Corp. (OCX.TO) acquired medical transportation company American Medical Response and physicians services provider EmCare and merged the two. EMSC went public that same year. EMSC reported adjusted earnings before interest, tax depreciation and amortization of $404.7 million in 2012, up from $345.4 million in 2011.
  • Sector: Sub-Acute Services Roper Industries Inc (Sarasota, FL) entered a definitive agreement to acquire Managed Health Care Associates Inc (MHA) (Florham Park, NJ) in a cash transaction valued at $1.0 billion. MHA provides services and technologies to support the needs of alternate site healthcare providers who deliver services outside of an acute care hospital setting, including long-term care pharmacies, assisted living facilities, long-term care facilities, infusion and specialty pharmacies, and other alternate site providers. Roper expects the acquisition of MHA to be immediately cash accretive and generate $95 million of EBITDA during the first year of ownership, excluding the impact of acquisition-related fair value accounting. The transaction should be completed within 30 days, subject to regulatory approval and customary closing conditions.
  • Sector: Pediatric Homecare Child Health Holdings, Inc. (d/b/a Pediatric Health Choice), has acquired The Children’s Secret Garden, Inc. (“TCSG”). Headquartered in Dover, DE, TCSG operates a combined prescribed pediatric extended care (“PPEC”)/Day Care facility for children with chronically ill and/or medically complex conditions. TCSG’s founder, Pam Harper, will stay onboard as the facility’s administrator. Going forward, the center will do business in Delaware as Pediatric Health Choice at The Children’s Secret Garden. The closing of the TCSG transaction represents Pediatric Health Choice’s first add-on acquisition under Clearview’s ownership, and marks the Company’s successful expansion into a fourth state. “The PPEC market is a highly fragmented, growing Sector within the healthcare services industry and we will continue to actively pursue add-on acquisitions throughout the country, while maintaining rapid organic growth through de novo expansion.”
  • Sector: Medical Device Argon Medical Devices has completed the acquisition of the Interventional Products Business of Angiotech Pharmaceuticals. The Interventional Products Business manufactures and markets disposable and re-usable biopsy products for the diagnosis of cancer, drainage catheter products, and vascular interventional products. The acquisition of the Interventional Products Business bolsters Argon’s existing portfolio of interventional vascular products, adds additional biopsy product lines, and further leverages the company’s sales force within core call points. As part of the transaction, Argon will also acquire three dedicated manufacturing facilities in Wheeling, Illinois, Gainesville, Florida, and Rochester, New York. Argon currently manufactures its products in facilities in Athens, Texas and Singapore.
  • Sector: MedSurg/Pharmacy McKesson Corp (San Francisco, CA) announced the completion of its acquisition of PSS World Medical Inc (Jacksonville, FL) for a total purchase price of approximately $2.1 billion. McKesson and PSS World Medical signed a definitive agreement for McKesson to acquire all outstanding shares of PSS World Medical at $29.00 per share, in cash in October 2012. Stanton McComb, president of McKesson’s Medical Surgical business, will serve as president of the combined organization, and Gary Corless, president and CEO of PSS World Medical, will serve as COO.
  • Sector: MedSurg Cardinal Health announced its plans to acquired AssuraMed, a privately held, leading provider of medical supplies to patients in the home. The acquisition will cost Cardinal $2.07 billion, or $1.94 billion, net of the present value of tax benefits. According to the company, the transaction is expected to close in early April 2013.
  • Sector: Hospice Visiting Nurses Association and Hospice and Inland Hospice Association have merged. Created in 1979, Inland Hospice is a nonprofit organization and provides services in the Claremont, California area.
  • Sector: Homecare The Ensign Group, Inc. announced it has acquired Elite Home Health and Hospice from Tri-State Memorial Hospital located in Clarkston, Washington. Elite will be operated by Ensign’s Northwest home health and hospice subsidiary, Paragon Healthcare. The purchase was made with cash, and reflects Ensign’s commitment to actively acquiring both well-performing home health and hospice companies.
  • Sector: Healthcare CarePartners and Mission Health went public with the future of their working relationship today when leaders from the two health care providers announced that CarePartners will seek an affiliation with Mission Health — and work on this affiliation is already under way. CarePartners and Mission Health signed a non-binding memorandum of understanding today, April 4. According to CarePartners President and CEO Tracy Buchanan, if all goes well, the affiliation with the state’s sixth-largest health system will be official by October. However, she was quick to note that the agreement was borne out of collaboration, not conflict. CarePartners will be an affiliate of Mission Health, much like other hospitals in the Mission Health System. But CarePartners will retain its name and branding. A local nonprofit, CarePartners currently serves close to 3,000 patients each day and specializes in post-acute care in services, ranging from home health to prosthetics.
  • Sector: Homecare Infinity Homecare announced the acquisition of AHC Southwest and Advanced Homecare as already complete. Infinity whose main base of operations is in Sarasota, Florida was founded back in 2006. The company provides home care health services mainly in the state of Florida through licensed and Medicare certified agencies. Their services are being offered from twenty-seven location in eight districts of Florida. Advanced Homecare, founded in 2010, provides patient care operations in both District 6 and 8 in Florida including primary locations in Sarasota and Tampa. It provides a wide-range of home health care services that includes rehabilitation, nursing services and specialized programs required for patients with orthopedic, pulmonary, cardiac and neurodegenerative conditions. “We are excited about this acquisition and its strategic fit with Infinity. The team at Vitalcare shares our commitment to clinical excellence and quality of care. Together, we will reach more patients and join two high-performing teams with one shared mission. Infinity will continue to pursue many growth strategies, including add- on acquisitions and other innovative approaches to the changing landscape of healthcare”, Infinity President and COO Steve Karasick said in a statement.
  • Sector: Homecare Salus Homecare, a California-based company focused on providing coordinated home-based services including skilled nursing, physical therapy, occupational therapy, speech therapy and medical social services combined with caregiving services, today announced the completion of the acquisition of home health agency Aspen Home Health and Rehab in Artesia, Calif. The acquisition strengthens Salus’ position in the home health market in the Orange, Los Angeles and Riverside counties and expands its current team of skilled nurses and doctors to help homebound elderly and disabled patients, according to Salus’ Chief Executive Officer Mark Mortensen.
  • Sector: Sleep Therapy SleepMed, Inc., the largest private sleep diagnostics and therapy provider and Watermark Medical, the leading home sleep technology services company for the diagnosis and treatment of sleep breathing disorders, announce the merger of their companies. Operating under the SleepMed name, the united strengths of SleepMed and Watermark Medical combine to establish a business uniquely poised to address the sleep issues affecting millions of Americans and establish the first national high performing sleep health system. The merger of SleepMed and Watermark Medical is an important development for the future of the sleep industry and the delivery of sleep related services. Utilizing Watermark’s leading edge technology enabled platform and Enterprise relationships and SleepMed’s stellar team of sleep experts and hospital partners, the new SleepMed will address the issues associated with the diagnosis and treatment of the widespread sleeping disorders in the U.S. Through its combined current annual patient population of over 200,000 patients and its estimated 15,000 independent physician and hospital network partners, the new SleepMed will offer sleep services (i.e. patient engagement integration tools and patient “wellness” products) focused on improving quality sleep via an integrated health-systems company that delivers a continuum of sleep care. As sleep health is a part of a patient’s overall health profile, the new SleepMed will embrace and support “Community Sleep Management.” This encourages local expertise, diagnostic pathways and appropriate therapy coordinated by SleepMed. SleepMed University educational and clinical activities will advance sleep awareness to physicians, employers, other providers, and the general population throughout these healthcare “Sleep Communities.”
  • Sector: Pharmacy Centene Corp. has purchased specialty pharmacy provider AcariaHealth for a combination of cash and stock, Centene said Tuesday. Monday’s purchase of AcariaHealth, formally known as Specialty Therapeutic Care Holdings, was financed through a combination of 1.7 million shares of Centene stock, cash and up to $15.3 million of Centene stock from an equity offering related to funding. Centene said it expected the acquisition to be neutral to earnings per share in the first 12 months, and that it was working with AcariaHealth to ensure a seamless transition for customers and others.
  • Sector: HME Home Care Medical Inc (New Berlin, WI) acquired HomeCare Resources LLC. The acquisition of this durable medical equipment retail store expands Home Care Medical’s footprint into Sheboygan County and surrounding counties, and joins Home Care Medical’s two other southeastern Wisconsin retail stores.
  • Sector: Nursing Transition Capital Partners announced the sale of its portfolio company, Santé Pediatric Services, to Epic Health Services, a portfolio holding of Webster Capital. TCP acquired Santé in 2009 in partnership with Enhanced Equity Funds of New York, Petra Capital Partners of Nashville and Eagle Private Capital of St. Louis. Under the day-to-day leadership of CEO Mike Fricke, the Company grew to become the largest provider of pediatric speech, physical and occupational therapy in the state of Texas. With 11 clinics covering 10 markets, 460 employees, and 2,600+ children under care, Santé perfectly complements Epic’s multi-state pediatric health care business.
  • Sector: Physician Practice Group MEDNAX National Medical Group (Sunrise, FL) acquired Neonatology Associates Ltd (NAL) (Phoenix, AZ), a neonatal physician group practice. The practice consists of 24 neonatologists, five pediatric hospitalists, 39 advanced practitioners, and 35 other clinical and administrative support. The practice will become part of MEDNAX’s Pediatrix Medical Group (Sunrise, FL).
  • Sector: HME Numotion, formerly ATG Rehab and United Seating & Mobility, announces the acquisition of the complex rehab business of Ultimate Mobility, Inc., a regional provider based in Worcester, MA.
  • Sector: Healthcare RLH Equity Partners is pleased to announce our investment in The Chartis Group, a premier strategy consulting firm that helps the senior executives and Boards of Directors of leading hospitals and Integrated Delivery Networks address their most important and pressing challenges. The Company assists its clients with key strategic decisions on economic matters such as developing or participating in an accountable care organization, acquisitions of physician groups, geographic expansion of the care delivery footprint, and achieving efficient care delivery processes at each site. Chartis’ lengthy roster of blue chip clients includes over 60 nationally renowned academic medical centers, 9 of the top 10 children’s hospitals in the US, 81% of US News honor roll hospitals, and 20 of the top 25 cancer centers nationwide.
  • Sector: Lab Services Beckman Coulter Inc (Fullerton, CA), a wholly owned subsidiary of Danaher Corporation (Washington, DC), entered into an agreement to acquire IRIS International Inc (Chatsworth, CA). Danaher acquired IRIS, an automated in-vitro diagnostics systems and consumables manufacturer, through its wholly owned subsidiary, Daphne Acquisition Corporation
  • Sector: Medical Device Hayward, Calif., medical device company Solta Medical Inc. announced Tuesday, Jan. 29, it will acquire ultrasound device manufacturer Sound Surgical Technologies LLC of Louisville, Colo., for $30.5 million. Terms of the deal call for a $25.5 million payment in Solta common stock and a $5 million payment in cash. The deal also includes a $9.5 million earnout based on the target’s revenue.
  • Sector: Medical Imaging Samsung Electronics America, Inc., a subsidiary of Samsung Electronics Co. Ltd, today announced its acquisition of NeuroLogica, a leading Computed Tomography (CT) company headquartered in Danvers, Massachusetts. Established in 2004, NeuroLogica develops cutting-edge medical imaging products and is known for its world-class portable CT scanners, such as BodyTom and CereTom. Terms of the deal were not disclosed. The acquisition of NeuroLogica is another important step in the expansion of Samsung’s medical imaging business. Samsung will continue to strengthen its capabilities and product portfolio to establish itself as a trusted leader in the health and medical equipment industry.
  • Sector: Medical Supply Alere Inc (Waltham, MA) has acquired Epocal Inc (Ottawa, Ontario, Canada), a blood-gas and electrolyte testing technology provider. In 2009, Alere signed a definitive agreement with Epocal to acquire all of its issued and outstanding equity securities, contingent upon the achievement of gross margin and other financial milestones on, or prior to, October 31, 2014. Alere paid approximately $166 million in cash for Epocal, including a $15 million payment for achieving the first two financial milestones specified in the agreement. If Epocal reaches other product milestones, they could trigger additional payments of up to $75.5 million.
  • Sector: Healthcare IT Genpact has acquired JAWOOD, a leading provider of business services to the healthcare payer industry that is headquartered in the Detroit suburb of Bingham Farms, Michigan. This acquisition is a strategic fit for Genpact because it adds domain expertise and capabilities in the healthcare payer industry – a focused growth vertical for us. This transaction also includes Genpact’s purchase of India-based Felix Software, a key subcontracted service provider to JAWOOD.
  • Sector: HME MedCare Equipment Company, a provider of medical equipment and respiratory therapy services, has purchased Great Lakes Home Healthcare Services’ home medical equipment division, according to a press release. The new partnership expands MedCare’s service area to include the northwest corner of western Pennsylvania, as well as portions of southern New York. In August, MedCare, which is part of the Excela Health System, partnered with St. Clair Hospital in Pittsburgh, the provider’s fourth such agreement since 2008.
  • Sector: Biomedical Crothall Healthcare (Wayne, PA) acquired CREST Services (Coppell, TX), a medical equipment maintenance company.
  • Sector: Home Infusion Pharmacy AxelaCare Health Acquires Equinox Healthcare. Excellere’s investment in AxelaCare is a result of the firm’s disciplined top down investment strategy. In 2008, Excellere targeted the specialty pharmacy Sector (including home infusion) as an attractive buy-and-build opportunity and spent the subsequent two years carefully seeking a partnership with an industry leading management team who shared a vision to build a truly differentiated company. AxelaCare competes within the specialty infusion Sector of the specialty pharmacy industry. Specialty infusion services primarily involve the intravenous (i.e., directly into veins or muscles, or under the skin) administration of medications to treat a wide range of acute and chronic health conditions. Physicians, hospital discharge planners and case managers generally refer patients to specialty infusion providers to continue their therapies at home or in other non-acute settings.
  • Sector: Home Healthcare Addus HomeCare Corporation, a provider of home-based social and medical services focused on the elderly dual eligible population, recently announced that it has completed the sale of substantially all of the assets of its home health division to LHC Group, Inc. The sale encompasses 19 home health agencies and two hospice agencies in five states. Specifically, LHC Group will acquire 100 percent of the assets of the business in Arkansas, South Carolina and Nevada. In Illinois and California, LHC Group will acquire 90 percent of the business, with Addus retaining a 10 percent ownership interest in those locations. The business represents approximately $36.7 million in annual revenues for the twelve month period ended September 30, 2012. Net proceeds from the transaction will be used to pay off outstanding debt and for general corporate purposes. LHC paid $20 million in cash under the agreement
  • Sector: Medical Mfg Supply Kimberly-Clark Corp (Irving, TX) acquired the anesthesia business of Life-Tech Inc (Stafford, TX). The acquisition is comprised of needles, catheters, and accessories associated with peripheral nerve block procedures. The assets will become part of Kimberly-Clark Health Care (Roswell, GA) and added to Kimberly-Clark Health Care’s ON-Q family of products. Other business segments of Life-Tech are not included in this transaction. The financial details of the transaction were not disclosed.
  • Sector: Medical Device Cardiac Science (Waukesha, WI) signed a definitive agreement to sell its diagnostic cardiology product line to Mortara Instrument Inc (Milwaukee, WI). The business consists of the Burdick and Quinton brands and associated products. The transaction does not include MySense or the resuscitation business unit, which markets automated external defibrillators (AEDs). The boards of directors of both companies have approved the transaction. Cardiac Science customers will continue to receive technical, sales, and customer service through the existing channels until otherwise notified.
  • Sector: Medical Mfg AmerisourceBergen Corp (Chesterbrook, PA) signed a definitive agreement to sell its contract packaging business, AndersonBrecon (Rockford, IL), to an entity formed by affiliates of an investor group led by Frazier Healthcare VI LP (Seattle, WA) for the purpose of acquiring AndersonBrecon. The purchase price for the transaction is $308 million in cash, subject to customary adjustments for, among other things, the working capital of the business. The investor group includes affiliates of Greenspring Associates (Owings Mills, MD), QIC Global Private Equity (Brisbane, Australia), and Thomas McNerney & Partners (Stamford, CT). The transaction is subject to customary closing conditions, including receipt of certain regulatory reviews, and is expected to close in Q3 of FY 2013, which ends June 30, 2013.
  • Sector: Diagnostic Imaging New York Imaging Service (NYIS) (Newburgh, NY) recently acquired GXC Imaging Specialists (Tonawanda, NY), its fourth acquisition since March 2012. NYIS plans to expand beyond New York and into the mid-Atlantic and New England regions this year.
  • Sector: Pharmacy Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced that it has entered into a definitive agreement under which Valeant will acquire all of the outstanding common stock of Obagi Medical Products, Inc. (NASDAQ: OMPI) for $19.75 per share in cash, which represents a 28% premium to Obagi’s closing share price on March 19, 2013, the last trading day prior to announcement. The transaction is expected to close in the first half of 2013 and Valeant expects the transaction, once completed, to be immediately accretive to Valeant’s cash earnings per share. The combination is expected to yield cost synergies at an annual run rate of at least $40 million within six months of closing.
  • Sector: Home Infusion/Specialty Pharmacy MediLink Homecare, a leading home infusion and specialty pharmacy located in Hammonton, NJ was acquired in a private transaction. MediLink has served the unique needs of the patient, family, physician and payor communities since 1994. Paragon Ventures, a leading healthcare mergers and acquisitions advisory, was the exclusive advisory to MediLink and initiated the transaction. Transaction details where not disclosed.
  • Sector: Pharmacy JHP Pharmaceuticals, a specialty pharmaceutical company based out of Parsippany, NJ, has been acquired by Warburg Pincus from Morgan Stanley Principal Investments for $195 million. JHP acquires, develops, manufactures and sells sterile injectable products, with therapeutic solutions for the anesthesiology, gastroenterology, infectious diseases and women’s healthcare markets, among others. The investment will allow JHP to pursue unique partnership and acquisition opportunities in both the branded and generic segments of the market
  • Sector: Hospice North Mississippi Hospice, Inc., a prominent hospice provider in northern Mississippi, has been acquired by Gentiva Health Services, Inc. North Mississippi Hospice has three locations in northern Mississippi and provides traditional hospice services. North Mississippi Hospice believes that everyone deserves access to quality, compassionate end of life care whether it is in the patient’s home or in a nursing home. The terms of the transaction was not disclosed.
  • Sector: HME Dynamic Healthcare Services, Inc., a portfolio company of GMH Ventures LLC, announced that it acquired the operating assets of APO2 of Hazleton, PA. . The terms of the acquisition were not disclosed. APO2 is a full service HME (Home Medical Equipment) company providing home oxygen delivery systems, CPAP, sleep apnea products, consumer power mobility products which include scooters as well as power wheelchairs. APO2 was founded in 2004 by its President William Pavlick and has experienced significant growth during each year of operation.
  • Sector: Hospice Hearts for Hospice, LLC, (Hearts) a provider of hospice and home health services to patients in Utah, Idaho, and Arizona, has been acquired by Abode Healthcare, a portfolio company of Frazier Healthcare. Hearts is a Medicare certified, and Medicaid approved organization providing end of life care to terminally ill patients and their families, as well as comprehensive restorative care to patients recovering from illnesses and injuries. The Company consists of several divisions including a hospice division (Hearts for Hospice) and a home health division (Hearts for Home Health). In addition to traditional home health and hospice services, Hearts provides non-emergency medical transportation services to its hospice patients and their families. Hearts has an excellent reputation in the healthcare community and throughout its service areas. The terms of transactions were not disclosed.
  • Sector: Medical Products Henry Schein, Inc. (NASDAQ: HSIC), the world’s largest provider of health care products and services to office-based dental, medical and animal health practitioners, today announced the acquisition of the Maddox Practice Group (MPG), a leading practice transition group that serves the California dental market. Financial and other terms of the transaction were not disclosed.
  • Sector: Labratory Willow Laboratories announced that it has been acquired by Ampersand Capital Partners. Willow is one of the country’s leading clinical and forensic toxicology laboratories providing urine, hair and saliva testing services to a wide range of healthcare providers including treatment centers, physician practices and other laboratories. Using state-of-the-art technology, Willow provides qualitative and quantitative alcohol and drugs-of-abuse test results to aid clients in the diagnosis and treatment of substance abuse.
  • Sector: Healthcare IT PeriGen Inc., a developer of clinical decision support software for hospitals, has raised $6.4 million in a round of financing from 10 investors. The company, earlier known as ECMI Holdings Inc.,raised $4.6 million in January 2010.
  • Sector: Clinical Research PRA, a leading clinical research organization, today announced it has acquired privately held ClinStar, LLC, a clinical research organization managing Phase I-IV clinical research trials in the Russian Federation, Ukraine, Belarus and the Baltic States. Through its operations in the region, ClinStar provides clinical development services to a wide range of pharmaceutical and biotechnology companies
  • Sector: Healthcare IT Athenahealth (Watertown, MA) completed its acquisition of Epocrates (San Mateo, CA). Athenahealth announced plans to acquire Epocrates in September 2012 for $293 million cash, or $11.75 per share. The acquisition expands Athenahealth’s current base from 40,000 clinicians to more than one million, and allows Athenahealth to build on its data network with the mobile capabilities afforded by Epocrates.
  • Sector: General Healthcare H.I.G. Capital Partners has made a strategic investment in California Forensic Medical Group, Inc. (CFMG). CFMG specializes in correctional healthcare exclusively in the State of California. Services are provided to 61 facilities with a combined average daily population of approximately 14,550 inmates.
  • Sector: Hospice Hospice Advantage Inc. has completed a recapitalization with Sentinel Capital Partners. Hospice Advantage is a Medicare, Medicaid Certified hospice and homecare program providing superior end-of-life care and skilled nursing services. Hospice Advantage currently has 56 hospice locations across 10 states throughout the Midwest, Southeast and South. The terms of the recapitalization were not disclosed
  • Sector HME Edge Medical Supply has purchased the assets of Jones Medical Equipment, a Corsicana, Texas-based respiratory and home medical equipment provider. The deal strengthens Edge Medical Supply’s position in the north central Texas market, stated President Brian Bersano in a press release. Edge Medical Supply, which has 10 locations, will move Jones Medical Equipment’s operations to its existing location in Corsicana.
  • Sector HME Roberts Home Medical Equipment acquired Frederick Memorial Hospital Home Medical Equipment, according to a message to customers on the hospital’s website. In the letter, Frederick Memorial ensured customers they are “working to make the transition seamless,” adding that there will be no disruption in services and that Roberts Home Medical has the existing prescription and billing information necessary for continued service.
  • Sector: HME Advanced Home Care has acquired Extrakare, a Norcross, Ga.-based home medical equipment provider. “The addition of Extrakare LLC to the Advanced Home Care family enables us to expand our commitment of providing extraordinary care to patients in the greater Atlanta area,” Joel Mills, CEO of Advanced Home Care, said. Extrakare was founded in 2004 and provides home oxygen, PAP devices for treating sleep apnea, devices used during knee rehabilitation and other home medical equipment. With the acquisition, Advanced Home Care is creating a new region of operations in northern Georgia. It will be headed by Scott Lloyd, Extrakare’s co-founder and president, with Extrakare co-founder and vice president Kevin Goodwin serving as branch manager. Extrakare employs 35, all of whom will join Advanced Home Care.
  • Sector: Healthcare IT – NetDimensions, a global provider of performance, knowledge, and learning management systems, announces today that it has acquired the assets, goodwill and business of eHealthcareIT for a total consideration of approximately US$3.5m. The acquisition is in line with NetDimensions’ strategy to become a premier global provider for talent management solutions for highly-regulated industries.
  • Sector: Medical Supply Ansell Limited (ASX:ANN), a global leader in protection solutions, today announced the acquisition by Ansell Healthcare Products LLC of substantially all of the assets of Preferred Surgical Products, L.L.C. (“PSP”), a privately held US product and technology company with innovative solutions in infection prevention. The PSP range aims to improve infection control, protect the patient’s skin, and optimize room turnover time, while reducing total cost per procedure. “This technology fits well within our SANDEL brand of Healthcare Safety Devices and strategically expands our perioperative safety offering,” said Anthony Lopez, President and General Manager, Ansell Medical Solutions. The transaction is expected to be earnings per share neutral in F’13 and slightly accretive in F14.
  • Sector: Pharma Montreal-based Valeant Pharmaceuticals International Inc. (NYSE: VRX) has acquired the U.S. rights to Targretin, medication used to treat skin problems, for $65 million. The company bought the rights from Eisai Inc., the U.S. pharmaceutical subsidiary of Eisai Co. Ltd, which is based in Japan. Targretin treats skin problems caused by cutaneous T-cell lymphoma, which can cause skin legions. The medication comes in pill and gel forms. In September, Valeant agreed to buy Medicis Pharmaceutical Corp. (NYSE: MRX) for $2.6 billion.
  • Sector: Senior Living Texas private equity firm TPG Capital on Tuesday, Feb. 26, provided a lifeline to troubled Assisted Living Concepts Inc., agreeing to buy the operator of senior living residences in a deal valued at $278 million. Terms of the deal call for holders of Menomonee Falls, Wis.-based Assisted Living to receive $12 per share in cash, a premium of 23.7% over the target’s Monday close of $9.70.
  • Sector: Medical Device EQT Partners agreed to acquire BSN Medical from Montagu Private Equity and management for approximately $2.27 billion. BSN Medical designs, manufactures, and markets medical devices in the areas of fracture management, compression therapy, wound care, and physiotherapy in Germany and internationally. The deal is projected to trade at an implied EV / LTM EBITDA multiple of 10.9x and LTM Revenue multiple of 2.7x.
  • Sector: Medical Device DMH International (Austin, TX) acquired all of the outstanding shares of Touch Medical Solutions Inc (TMSI) (Coral Springs, FL). TMSI develops and markets software for the medical community. As a result of the merger, Rik J Deitsch has assumed the position of CEO and director, and Jason Barry assumed the position of president and director. DMH expects to be able to roll out all of its software solutions by the end of 2013.
  • Sector: Medical Device Quest Diagnostics is selling its HemoCue business to Danaher’s Radiometer Medical unit for $300 million. The diagnostics giant announced its plan to sell off the unit back in January, part of its overall strategy to minimize its presence in the point-of-care diagnostics product business and focus on information services. Quest will use the $300 million to repurchase shares through its stock buyback program, CEO Steve Rusckowski said. The HemoCue sale comes on the heels of Quest’s December divestiture from OralDNA, the lab salivary diagnostics business it sold to Access Genetics for an undisclosed sum. The deals are all part of Quest’s efforts to realign its business and reinstate revenue growth. But it’s an uphill battle: Last year’s $7.4 billion in revenue was essentially unchanged from 2011, and the company is projecting just 0% to 1% growth for 2013.
  • Sector: Medical Device Wright Medical Group Inc (Arlington, TN) completed its acquisition of BioMimetic Therapeutics Inc (Franklin, TN). Wright acquired BioMimetic Therapeutics for an upfront purchase price of approximately $190 million in cash and stock plus additional milestone payments of up to approximately $190 million in cash, which are payable upon receipt of FDA (Silver Spring, MD) approval of Augment Bone Graft and upon achieving certain revenue milestones. In conjunction with closing the transaction, a total of about $42.5 million in cash will be paid, and approximately 7.0 million shares of Wright common stock and 28.1 million contingent value rights will be issued. The CVRs will be listed under the symbol WMGIZ, and are expected to begin trading on March 4, 2013. BioMimetic’s common stock ceased trading as of March 1, 2013.
  • Sector: Homecare/Hospice LHC Group (Lafayette, LA) completed its acquisition of the home health service line of Addus HomeCare Corp (Palatine, IL) for $20 million, effective March 1, 2013. The deal includes 100 percent of the assets of three home health agencies in AR, one home health agency and two hospice agencies in California, and one home health agency in Nevada. The company also acquired 90 percent of the assets of eight home health agencies in Illinois and six in California, with Addus retaining a 10 percent ownership interest in those locations. With this acquisition, LHC Group now operates more than 300 locations in 23 states nationwide.
  • Sector: General Healthcare MDSI (Lawrenceville, GA), publishers of The Journal of Healthcare Contracting, The MAX, Repertoire and the Dail-E News, acquired the Association of National Account Executives (ANAE) (Laguna Niguel, CA). With the acquisition, MDSI plans to create a high-value, membership-driven organization focused on professional development for corporate and national accounts executives calling on group purchasing organizations (GPOs), regional purchasing organizations (RPCs), accountable care organizations (ACOs), integrated delivery networks (IDNs), individual hospitals, national and regional distribution companies, and managed care organizations.
  • Sector: Healthcare IT Allscripts acquired dbMotion, Ltd., a leading supplier of community health solutions and Jardogs LLC, the top-rated patient engagement solution provider, both privately held. Combined with the existing Allscripts Community solution, these new capabilities deliver comprehensive care coordination and population health management across acute, ambulatory, and home care systems. These acquisitions advance Allscripts’ strategy to offer full integration of heterogeneous systems across the care continuum, enabling solutions for a Connected Community of Health™. Leading healthcare organizations, such as Sharp Healthcare, Orlando Health, and Phoenix Children’s Hospital have embraced these solutions to gain actionable insights from data to improve their medical decision-making and overall population outcomes. dbMotion provides a strategic platform for care coordination and population health management that integrates discrete patient data from diverse care settings, regardless of IT supplier, into a single patient record. It provides a longitudinal clinical data repository with semantically normalized patient data, point of care tools, a physician portal, population tools and an analytics gateway. This reduces the cost of care delivery and enables better physician-to-physician care coordination.
  • Sector: Homecare/Hospice The Ensign Group, Inc. (Nasdaq:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health and hospice care, assisted living and urgent care companies, announced today that it has acquired Elite Home Health and Hospice from Tri-State Memorial Hospital located in Clarkston, Washington. Elite will bring Ensign’s community-based home health and hospice care to the communities of Eastern Washington and Northern Idaho. Elite will be operated by Paragon Healthcare, Ensign’s home health and hospice subsidiary for the Northwest. “We are excited to have the Elite team join us, and are grateful for the outstanding foundation of quality care and teamwork we inherited,” said Steve Burningham, Paragon’s President. The purchase was made with cash, and brings Ensign’s growing portfolio to 109 healthcare facilities, 87 of which are Ensign-owned, seven hospice companies and seven home health businesses across 11 states. Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling home health and hospice operations across the United States.
  • Sector: Homecare/Hospice Pioneer Home Health Care, Inc. and Hospice of The Owens Valley have joined forces under Pioneer’s roof. The merger, according to both administrators, is expected to enhance both entities in a variety of ways. Hospice, serving Owens Valley residents since the 80s, will be able to expand its patient base,and Pioneer, in operation since 1990, gains a hospice program.
  • Sector: Homecare/Hospice The Ensign Group, Inc. the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, hospice care, assisted living and urgent care companies, announced that it has acquired Emblem Hospice, located in Mesa, Arizona, and Vesper Hospice, located in Pasadena, California, from Saint Jude Hospice, a well-regarded hospice operator headquartered in Iowa. Effective January 1, 2013, these two agencies will be operated by a subsidiary of Cornerstone Healthcare, Inc., Ensign’s home health and hospice-based portfolio subsidiary. “We admire the great work done by the former owners and look forward to working together with an incredible team of caregivers to provide exceptional care to our patients and their families,” said Daniel Walker, Cornerstone’s President. He added that Ensign expects these newly-acquired agencies to be accretive to earnings in 2013. The purchases were made with cash and bring Ensign’s growing portfolio to 108 healthcare facilities, 86 of which are Ensign-owned, six hospice companies and six home health businesses across 11 states. Ensign affiliates hold purchase options on two of its 22 leased facilities. Mr. Christensen reaffirmed that Ensign is actively seeking additional opportunities to acquire both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses across the United States.
  • Sector: Healthcare Trade The National Association of Independent Medical Equipment Suppliers (NAIMES) announces that it has acquired the Committee to Save Independent HME suppliers (CSIHME) and merged it into the national trade association. “We are pleased with this merger which will combine the resources of CSIHME with NAIMES,” according to NAIMES Chairman Wayne Sale. “This effectively doubles our resources and will improve the effectiveness of NAIMES as an advocate for its members in the independent supplier community.
  • Sector: Healthcare IT McKesson, Corp.’s connectivity business, RelayHealth, announced it has acquired Ahi Software, Inc., a provider of patient access solutions. The addition of Ahi Software’s technology will complement RelayHealth’s software platform, and enhance patient engagement and satisfaction.
  • Sector: Homecare/Hospice Halcyon announces the completion of the first hospice acquisition in South Georgia. The acquired company is Grace Hospice, located in Valdosta, GA. Halcyon was formed in 2010 by Health Evolution Partners (HEP), Dan Kohl, and Jack Draughon to build the leading hospice and home health company in the Southeastern U.S. Halcyon completed their first two acquisitions in 2011 covering more than 40 counties in North Georgia. This acquisition marks the first entry into South Georgia, expanding the footprint of Halcyon by twelve counties.
  • Sector: Healthcare IT Arcadia Solutions, LLC, a provider of data-driven health IT services, has been acquired by Connecticut-based private equity firm Ferrer Freeman & Company, LLC (FCC). FCC’s relationships and expertise within healthcare IT provides the resources necessary to promote continued success and growth for Arcadia.
  • Sector: Healthcare IT Humana, Inc. announced they have acquired Certify Data Systems, Inc., a leader in health information exchange (HIE) technology. While focused on technological enhancements that provide a more coordinated patient experience, Humana acquired Certify Data Systems for their robust software technology that ultimately improves the delivery of care.
  • Sector: Pharmacy, Specialty BelHealth Investment Partners acquired Town Total Health, a specialty pharmacy treating patients with chronic conditions such as HIV, Hepatitis C and transplant maintenance therapy. Town Total services patients across the entire New York metro and upstate New York markets from four locations. With the transaction, BelHealth will provide the capital for growth and the leadership of healthcare and specialty pharmacy executive Michael Nameth, who will join Town Total as CEO. Terms of the transaction were not disclosed.
  • Sector: Pharma JHP Pharmaceuticals has been acquired by an affiliate of Warburg Pincus from JHP Holdings, LLC, an entity majority-owned by Morgan Stanley Principal Investments, for $195 million. Founded in 2007, JHP is a specialty pharmaceutical company that acquires, develops, manufactures and sells sterile injectable products.
  • Sector: Pharmacy, Retail CVS Caremark acquired 19 Medicine Chest drug stores in Texas. CVS will operate nine of the locations and relocate the other ten into existing CVS locations. Medicine Chest will continue to operate with seven retail pharmacies and three long term care pharmacies. Financial terms of the transaction were not disclosed.
  • Sector: Medical Device The Medicines Company announced that it will acquire Incline Therapeutics, Inc. for $185 million at close with additional payments if certain regulatory and commercial milestones are met. Incline Therapeutics develops a patient-controlled analgesia (PCA) system, known as IONSYS, for use in a hospital setting for short-term management of postoperative pain.
  • Sector: Pharmacy, Specialty Walgreen Co. acquired a significant ownership stake in Cystic Fibrosis Foundation Pharmacy, the parent company of Cystic Fibrosis Services. With the acquisition, Walgreens and the CF Foundation have joint ownership in both CF Services, a specialty pharmacy for CF patients, and Pharma Dynamics Inc., a provider of new product launch support and call center services for drug manufacturers. Terms of the transaction were not disclosed.
  • Sector: Medical Supply Express Scripts sold Liberty Medical Supply to members of Liberty’s management team. Liberty Medical Supply provides home delivery of a wide range of healthcare products across Sectors such as diabetes, sleep apnea, urology, and pharmacy. Express Scripts acquired Liberty as part of its $29.1 billion acquisition of Medco Health Solutions in April and indicated it would divest the business. Financial terms of the transaction were not disclosed.
  • Sector: Pharma Watson Pharmaceuticals announced that it has completed its acquisition of Belgium-based Uteron Pharma SA for a purchase price of $150 million upfront, and a potential $155 million in additional milestone payments that may become payable in future years as drugs in Uteron’s pipeline move closer to market. Watson said this acquisition “expands Watson’s Global Brands pipeline of Women’s Health products including two potential near term global commercial opportunities in contraception and infertility, and one novel oral contraceptive, projected to launch globally in 2018. Several additional products in earlier stages of development are also included in the acquisition.”
  • Sector: Homecare/Hospice The Ensign Group, Inc. announced that it has acquired Puget Sound Home Health, a home health agency certified by the Joint Commission on Accreditation of Healthcare Organizations based in Tacoma, Washington. The acquisition was effective as of January 1, 2013. “This acquisition broadens Ensign’s existing operational base in the important south Puget Sound market,” said Christopher Christensen, Ensign’s President and Chief Executive Officer. “The combination of this agency along with Ensign’s existing operations in the Seattle area further enhances our ability to continue to provide high quality healthcare services to the markets we serve and strengthens our existing operating synergies,” he added
  • Sector: Medical Device Stryker Corp. has announced paying $764 million in cash to purchase Hong-Kong based Trauson Holdings Co. Ltd. The acquisition is expected to help Stryker to better access and grow in China, one of the fastest growing markets for orthopedic products. Founded in China in 1986, orthopedics firm Trauson had sales of about $60 million in 2011 and makes spine devices and products for trauma surgeries.
  • Sector: Medical Device GN Otometrics (Schaumburg, IL) acquired Audio Electronics Inc (Austin, TX), an audiometric and vestibular equipment distributor. Audio Electronics will operate as a wholly-owned subsidiary of Otometrics, and maintain its operations in Austin, Texas with the sales, service, and office staff remaining in place.
  • Sector: Medical Device Johnson & Johnson (J&J) (New Brunswick, NJ) is considering selling its $2 billion-a-year Ortho Clinical Diagnostics business or turning it into a stand-alone company. The Ortho Clinical business makes a wide range of products, including tests to determine blood-type and various laboratory equipment.
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