Healthcare Services Buyout Acquisitions in 2023

  • Buyer
    Aquiline Capital Partners LP
    Target
    Pharma Force Group LLC (PharmaForce)
    Type
    Buyout

    Aquiline Capital Partners has made a majority investment in Pharma Force Group LLC, a U.S.-based provider of 340B administration software and pharmacy benefits management solutions. The partnership will support PharmaForce’s product expansion and strategic M&A plans to accelerate growth across hospitals and health clinics. Piper Sandler advised PharmaForce; transaction closed in Q4 2023 with financial terms undisclosed.

  • Buyer
    AstraZeneca
    Target
    Gracell Biotechnologies Inc.
    Location
    China
    Type
    Buyout

    AstraZeneca entered into a definitive agreement to acquire Gracell Biotechnologies, a global clinical-stage biopharmaceutical company focused on autologous cell therapies for cancer and autoimmune diseases. The deal is expected to close in the first quarter of 2024 and includes Gracell’s FasTCAR-enabled dual-targeting CAR-T therapy GC012F, with an upfront value of about $1.0 billion and total transaction value of up to about $1.2 billion including a contingent value right tied to a regulatory milestone.

  • Buyer
    Bruker Corporation
    Target
    ELITech Group
    Seller
    PAI Partners
    Location
    Italy
    Type
    Buyout

    PAI Partners has entered into an agreement with Bruker Corporation to sell ELITech Group, a global manufacturer of in-vitro diagnostics (IVD) instruments and reagents. The deal is subject to regulatory and customary closing conditions and includes a put option for the sale. Under PAI’s ownership since 2017, ELITech pursued R&D investments, next-generation molecular diagnostics systems, and strategic partnerships.

  • Buyer
    Standard BioTools Inc.
    Target
    SomaLogic, Inc.
    Location
    United States
    Type
    Buyout

    SomaLogic, Inc. announced a proposed merger with Standard BioTools Inc., but several SomaLogic shareholders publicly urged a “no” vote. Tikvah Management and Madryn Asset Management criticized the merger on grounds including alleged undervaluation, process and disclosure concerns, and quality of Standard BioTools’ business and balance sheet.

  • Buyer
    Jackson House
    Target
    Cameron Care, Inc.
    Seller
    Geraldine & Corey Cameron, Corey Cameron
    Type
    Buyout

    Jackson House has acquired a majority interest in Cameron Care, Inc., creating Cameron Care, LLC and retaining owner Corey Cameron as Executive Director. The deal expands Jackson House’s residential mental health footprint into Multnomah County and combines the two providers’ capabilities to broaden service offerings and streamline operations across Cameron Care’s three residential facilities (39 beds).

  • Buyer
    Veda Living
    Target
    Emerald City Senior Living
    Seller
    Greenlake Senior Living
    Type
    Buyout

    Veda Living announced the acquisition of the management contract for Emerald City Senior Living, a 119-unit private-pay senior living community in Seattle, Washington, marking Veda's 14th management contract. The move expands Veda's portfolio in the Seattle market and underscores its focus on affordable, middle-market senior living through a partnership with Greenlake Senior Living.

  • Buyer
    West Monroe
    Target
    Inspired Health
    Type
    Buyout

    West Monroe, a global business and technology consulting firm, has acquired Inspired Health, a Boston-based market insights and commercial strategy consultancy serving life sciences clients. The deal expands West Monroe’s life sciences capabilities, adds a Boston office at 2 Liberty Square, and brings experienced industry leaders from Inspired Health into West Monroe’s team.

  • Buyer
    mPulse, PSG
    Target
    HealthTrio, Decision Point Healthcare Solutions
    Location
    United States
    Type
    Buyout

    mPulse, a Los Angeles-based provider of conversational AI and digital engagement for healthcare, acquired HealthTrio and Decision Point Healthcare Solutions to create a full-service member engagement, analytics, and activation platform. The transactions were supported by mPulse’s majority investor PSG and existing shareholders to expand mPulse’s capabilities in analytics, member experience optimization, and omni-channel engagement.

  • Buyer
    Advanced Diagnostics Healthcare System
    Target
    TREND Healthcare
    Type
    Buyout

    Advanced Diagnostics Healthcare System (ADHS), an independent physician-led network, has acquired TREND Healthcare, a network of multi-specialty clinics operating across the Dallas–Fort Worth metroplex. The deal expands ADHS's footprint in Texas and brings additional primary care, orthopedic, neurosurgery and occupational medicine capabilities into its portfolio.

  • Buyer
    The Flex Co.
    Target
    Allbodies Inc.
    Location
    United States
    Type
    Buyout

    The Flex Co., a leading sustainable period-care brand based in Venice, California, has acquired Allbodies Inc., an inclusive reproductive and sexual health education platform. The acquisition brings Allbodies' educational content and network of practitioners into Flex's product ecosystem to expand the company's women's health education and product-development capabilities; financial terms were not disclosed.

  • Buyer
    Herspiegel Consulting
    Target
    Adivo Associates
    Type
    Buyout

    Herspiegel Consulting has acquired Adivo Associates, a healthcare strategy and specialty market insights firm. The deal expands Herspiegel's commercialization capabilities by integrating Adivo's data and analytics with Herspiegel's market access and medical affairs practices, creating a combined team of over 150 employees and broadening the firm's global footprint.

  • Buyer
    CrestPeak, Boathouse Capital
    Target
    Millennium Health and Fitness
    Type
    Buyout

    CrestPeak, a Boathouse Capital‑sponsored company, has acquired Millennium Health and Fitness. The deal places Millennium under new executive leadership and aims to expand the company's footprint in population health management, human performance and health & wellness services for corporate and government clients.

  • Buyer
    Platt Park Capital, Source Capital (SCCO IV), Gemini Investors
    Target
    Hiatus Spa + Retreat
    Type
    Buyout

    Platt Park Capital, with debt financing and a co-investment from Source Capital (via SCCO IV) and partnership support from Gemini Investors, has acquired Hiatus Spa + Retreat, a multi-unit wellness and medical spa headquartered in Dallas, Texas. Hiatus operates eight locations across Dallas, Austin, Houston, and San Antonio and offers membership-based wellness programming alongside spa and medspa services; the investors intend to scale the business through multi-unit growth and unit-level profitability improvements.

  • Buyer
    Aditxt, Inc.
    Target
    Evofem Biosciences, Inc.
    Type
    Buyout

    Aditxt, Inc. (NASDAQ: ADTX) signed a definitive agreement to acquire Evofem Biosciences, Inc. (OTCQB: EVFM) in a transaction with an aggregate value of approximately $100 million, using a mix of Aditxt common and preferred stock plus assumption of certain senior indebtedness. The deal is intended to create a women’s health mission within Aditxt and position Evofem’s Phexxi and other products for global expansion.

  • Buyer
    West Physics Consulting, LLC
    Target
    Radiation Protection Services, Ltd.
    Type
    Buyout

    West Physics Consulting, LLC has completed the acquisition of Radiation Protection Services, Ltd., a regional provider of medical and health physics services based in Springfield, Illinois. The deal expands West Physics' capabilities in radioactive material and imaging equipment testing and strengthens its service capacity and regional coverage across Illinois, Missouri, Iowa and Indiana.

  • Buyer
    Fountain Life
    Target
    LifeOmic
    Type
    Buyout

    Fountain Life, a preventative health and advanced diagnostics membership company, has acquired LifeOmic, a health data technology firm, obtaining LifeOmic's platform, mobile apps, IP, and engineering team to power Fountain Life's data-driven diagnostics and membership services. The acquisition will integrate LifeOmic's cloud data, genomic analysis, EHR integration, and AI/ML capabilities into Fountain Life's digital and at-home offerings to expand its precision and preventive care services.

  • Buyer
    R1 RCM Inc.
    Target
    Acclara
    Seller
    Providence
    Type
    Buyout

    R1 RCM Inc. has entered into a definitive agreement to acquire Acclara from Providence for $675 million in cash plus warrants to purchase 12.2 million shares of R1. The deal includes a 10-year revenue cycle management agreement whereby Acclara and Providence will partner with R1, expanding R1's scale, capabilities, and long-term revenue opportunities in healthcare revenue cycle management.

  • December 6, 2023
    Buyer
    Healthcare Outcomes Performance Company (HOPCo)
    Target
    MyACTome
    Type
    Buyout

    Healthcare Outcomes Performance Company (HOPCo) has acquired MyACTome, a validated smartphone-based fall risk and frailty assessment platform, to expand HOPCo's digital health capabilities for musculoskeletal value-based care. MyACTome's smartphone motion-sensor algorithms and web dashboards will be integrated into HOPCo's msk.ai platform to enable remote and in-clinic patient assessments and improve fall-risk stratification and outcomes.

  • Buyer
    Tygon Peak Capital, Greyrock Capital Group, Management (founding physician management of DIM and IMAP)
    Target
    Doctors of Internal Medicine (DIM), Internal Medicine Associates of Plano (IMAP)
    Type
    Buyout

    Tygon Peak Capital has created a new internal medicine platform through its investment in Doctors of Internal Medicine (DIM) and Internal Medicine Associates of Plano (IMAP), both in the Dallas, Texas area. Greyrock Capital Group joined as a capital partner, Sunflower Bank provided senior debt, and the founding physicians (Drs. Ladan Bakhtari and Arash Tirandaz) will continue as co-CEOs as the Platform seeks to scale services and pursue organic growth and acquisitions across North Texas and beyond.

  • Buyer
    National HME
    Target
    Hospice Source
    Type
    Buyout

    National HME, a provider of technology-enabled hospice durable medical equipment solutions, has acquired Hospice Source, a Carrollton, Texas-based supplier of medical equipment to hospice patients and facilities. The deal expands National HME's footprint and capacity to serve hospices nationwide and brings Hospice Source onto National HME's Hospice Cloud Pro platform to improve service delivery and operational efficiency.

  • December 4, 2023
    Buyer
    The Bay Club Company
    Target
    PRO Club Inc.
    Type
    Buyout

    The Bay Club Company announced the acquisition of PRO Club Inc., adding PRO Club’s Seattle and Bellevue health and wellness facilities to Bay Club’s West Coast portfolio. The deal expands Bay Club’s footprint to 26 locations and brings PRO Club’s approximately 800 employees, while PRO Club founders Dick Knight and Dr. Mark Dedomenico will remain as strategic advisors for at least three years.

  • Buyer
    HCMS Napa, LLC
    Target
    Lobo Solutions, Inc.
    Seller
    Kenneth Lobo (Founder & Owner)
    Type
    Buyout

    HCMS Napa, LLC has acquired Lobo Solutions, Inc., a Poway, California-based medical billing and coding services provider. The transaction, advised by Generational Equity, closed on December 4, 2023 and is intended to expand HCMS Napa's billing/coding capabilities and client reach in the region.

  • Buyer
    Xponential Fitness, Inc.
    Target
    Lindora
    Type
    Buyout

    Xponential Fitness, Inc. agreed to acquire Lindora, a medically guided metabolic health and weight-management brand, including Lindora's intellectual property and 31 existing clinics which will become Xponential franchise locations. The acquisition expands Xponential's wellness offerings by adding medically supervised weight-management, IV hydration, and hormone replacement therapy capabilities and is expected to be immediately accretive to AUV and adjusted EBITDA; the deal is expected to close in early 2024.

  • Buyer
    The Pennant Group, Inc.
    Target
    Southwestern Palliative Care and Hospice
    Type
    Buyout

    The Pennant Group, Inc. (NASDAQ: PNTG) has acquired Southwestern Palliative Care and Hospice, a provider of skilled hospice services based in Yuma, Arizona. The acquisition expands Pennant's hospice footprint in southern Arizona and strengthens its ability to deliver end-of-life care to residents of Yuma and surrounding communities.

  • Buyer
    Fremman Capital
    Target
    HT Médica
    Seller
    Luna family
    Location
    Spain
    Type
    Buyout

    Fremman Capital has acquired a majority stake in HT Médica, a leading Spanish provider of radiology and diagnostic imaging services, partnering with the Luna family to support the company's next stage of growth. Fremman will help HT Médica expand its reach, implement technology and drive value creation across its network of 20 diagnostic imaging centres and 2 laboratory centres in Spain.

  • Buyer
    Experian (Experian Health)
    Target
    Wave HDC
    Type
    Buyout

    Experian Health has acquired Wave HDC, a healthcare technology firm that provides AI-enhanced data curation and insurance discovery solutions. The deal expands Experian Health’s patient access and eligibility capabilities to enable real-time, single-inquiry insurance identification at patient registration, aiming to reduce claim denials and accelerate reimbursements for providers.

  • Buyer
    AMN Healthcare
    Target
    MSDR, Medical Search International, DRW Healthcare Staffing
    Type
    Buyout

    AMN Healthcare (NYSE: AMN) completed its acquisition of MSDR for a purchase price of $300 million. MSDR includes Medical Search International and DRW Healthcare Staffing, two locum tenens and advanced practices healthcare staffing companies.

  • Buyer
    By the Bay Health, Mission Hospice & Home Care, Hope Hospice
    Target
    By the Bay Health, Mission Hospice & Home Care, Hope Hospice
    Type
    Buyout

    By the Bay Health, Mission Hospice & Home Care, and Hope Hospice announced they will merge to form the largest independent not-for-profit hospice network in Northern California. The combined organization will expand integrated serious-illness and end-of-life care across hospice, home health, palliative care, and related supportive services in the San Francisco Bay Area.

  • Buyer
    Soaak Technologies, Inc.
    Target
    Thermography Tulsa
    Type
    Buyout

    Soaak Technologies, an AI-enabled health-tech company based in Tulsa, Oklahoma, has acquired Thermography Tulsa, a provider of thermal imaging services for over seven years. The acquisition integrates thermography into Soaak's holistic wellness offerings—including services at its RenuYou Clinics—and positions the company to expand thermography services across the United States.

  • Buyer
    Lead Capital Partners, LLC, Petra Capital Partners, Harbert Credit Solutions
    Target
    Viva Day Spa + Med Spa
    Seller
    Founders and management team
    Type
    Buyout

    Lead Capital Partners (LCP) made a platform investment in Viva Day Spa + Med Spa in partnership with the company's founders and management team; Petra Capital Partners and Harbert Credit Solutions invested alongside LCP. Viva operates four locations in the Austin, Texas area and will remain led by its existing management as LCP supports the company's next phase of growth and geographic expansion.

  • Buyer
    Principle Health Systems
    Target
    BioStat Laboratory
    Seller
    Owner of BioStat Laboratory
    Type
    Buyout

    Principle Health Systems has acquired BioStat Laboratory, a Dallas-based clinical laboratory, to establish a full-service lab presence in the Dallas–Fort Worth metroplex. The acquisition expands Principle's mobile laboratory and diagnostic capabilities—enabling bedside STAT testing—and brings BioStat's team and existing customer relationships into Principle's network across Texas.

  • Buyer
    Bioforum The Data Masters
    Target
    Validify (Applato Systems Ltd.)
    Location
    Israel
    Type
    Buyout

    Bioforum, a data-focused clinical research organization (CRO) based in Ness Ziona, Israel, has acquired Validify (Applato Systems Ltd.), a developer of a cloud-based automation platform for computer systems validation (CSV). The acquisition adds Validify's SaaS CSV automation capabilities to Bioforum's suite of clinical trial data-management and automation tools to improve regulatory compliance, speed validation, and enhance end-to-end clinical trial data services.

  • Buyer
    Aya Healthcare
    Target
    Winnow AI
    Seller
    SwitchPoint Ventures
    Type
    Buyout

    Aya Healthcare has acquired Winnow AI, an AI- and data-science-driven physician recruiting platform created by SwitchPoint Ventures. The technology will operate within Aya's Provider Solutions division to add passive physician sourcing and predictive matching capabilities that complement Aya's existing DocCafe and provider recruitment offerings.

  • Buyer
    ARCHIMED
    Target
    Symbio, Proinnovera
    Type
    Buyout

    ARCHIMED has acquired US-based Symbio and Germany-based Proinnovera in an all-equity deal and merged them to create Symbio Proinnovera, a specialized dermatology-focused CRO. The combined group will offer end-to-end dermatology consulting, formulation, testing and clinical research across North America and Europe, with founders rolling equity into the new platform and ARCHIMED-appointed operating partners joining the board to drive growth and further acquisitions.

  • Buyer
    Rainier Partners
    Target
    Omega Fitness
    Location
    United States
    Type
    Buyout

    Rainier Partners has acquired Omega Fitness, a leading multi-unit Anytime Fitness franchisee formed by operators Andy Gundlach and Russ Allen. Omega Fitness operates nearly 70 gyms across Wisconsin, California, and Florida; Rainier will partner with the founders to scale the platform through add-on acquisitions and new club openings while optimizing operations.

  • Buyer
    UpLift
    Target
    Minded
    Location
    United States
    Type
    Buyout

    UpLift, a technology-driven behavioral health company, has acquired Minded, an online psychiatry provider specializing in women's mental health. The acquisition deepens UpLift's psychiatry capabilities and enables rapid geographic expansion of team-based therapy and psychiatry coverage toward all 50 U.S. states, beginning with California, Illinois, New York, Pennsylvania and Texas.

  • Buyer
    CECOP USA
    Target
    Pearlman Buying Group
    Seller
    Dr. Dean Yimoyines
    Location
    United States
    Type
    Buyout

    CECOP USA has acquired Pearlman Buying Group, adding Pearlman’s ~600 independent eyecare professional members to CECOP’s U.S. network. The deal expands CECOP’s purchasing power and member services in the United States while founder Dr. Dean Yimoyines steps back from operational responsibilities.

  • Buyer
    Bradford Health Services
    Target
    Vertava Health of Mississippi
    Seller
    Vertava Health
    Type
    Buyout

    Bradford Health Services has acquired Vertava Health of Mississippi, a residential behavioral-health campus in Southaven, Mississippi. The acquisition expands Bradford’s footprint in North Mississippi and the greater Memphis region and will be integrated into Bradford’s network of treatment centers to enhance local addiction and mental health services.

  • Buyer
    INTEGRAcare Inc.
    Target
    Living Assistance Services
    Location
    Ontario, Canada
    Type
    Buyout

    INTEGRAcare Inc., a Toronto-based private home healthcare provider, has acquired Living Assistance Services, a Toronto personal support and homecare provider founded in 2000. The acquisition expands INTEGRAcare's footprint in the Greater Toronto Area and aims to strengthen service offerings and caregiver retention for seniors and family-funded home care clients.

  • Buyer
    Grunt Style Foundation
    Target
    Irreverent Warriors
    Type
    Buyout

    The Grunt Style Foundation announced it will bring Irreverent Warriors into its organization as a subdivision focused on veteran mental health and suicide prevention. Irreverent Warriors will retain its name and branding while operating under the Grunt Style Foundation to expand national outreach and resources for veterans across the United States.

  • Buyer
    EōS Fitness
    Target
    UFC Fit Silverado
    Type
    Buyout

    EōS Fitness, a Dallas-headquartered national gym operator, acquired UFC Fit Silverado, an MMA-inspired fitness facility in Las Vegas, Nevada. The deal adds a local location to EōS's growing High Value. Low Price. (HVLP) footprint and converts UFC Fit Silverado members and staff into the EōS network as part of the company's ongoing Las Vegas expansion.

  • Buyer
    Versiti
    Target
    Pearl Pathways
    Type
    Buyout

    Versiti, a Milwaukee-based blood health organization, has acquired Pearl Pathways, an Indianapolis-area life science consulting firm that provides regulatory affairs, quality compliance, CRO services and an independent IRB. The acquisition expands Versiti's clinical trial and life-sciences service capabilities, enabling earlier and deeper support for product development across biopharmaceutical, medical device, and diagnostics clients.

  • Buyer
    Health Catalyst, Inc.
    Target
    Electronic Registry Systems, Inc. (ERS)
    Type
    Buyout

    Health Catalyst (Nasdaq: HCAT) has acquired Electronic Registry Systems, Inc. (ERS), a Cincinnati-based provider of cancer registry software and services, to strengthen its data abstraction and oncology registry management capabilities. The acquisition integrates ERS’s CRStar platform with Health Catalyst’s ARMUS and expands the company’s Tech-Enabled Managed Services (TEMS) offering in chart abstraction and registry management.

  • Buyer
    Viome Life Sciences
    Target
    Naring Health, DiscernDX, Foodome
    Type
    Buyout

    Viome Life Sciences has acquired digital health startup Naring Health, including its subsidiaries DiscernDX and Foodome, to expand its capabilities in multi-omics, diagnostics and precision nutrition. The deal brings together microbiome analysis, proteomics and foodomics capabilities to enhance Viome's personalized nutrition and early disease detection offerings.

  • Buyer
    Resolian
    Target
    Denali Medpharma
    Location
    Chongqing, China
    Type
    Buyout

    Resolian, a global bioanalytical contract research organization headquartered in Malvern, Pennsylvania, has acquired Denali Medpharma, a Chongqing-based bioanalytical CRO. The acquisition expands Resolian's global lab footprint and adds Denali's oligonucleotide, mRNA, and liposomal bioanalysis capabilities to Resolian's service offerings.

  • Buyer
    The Pennant Group, Inc.
    Target
    Guardian Hospice, Guardian Hospice of Oklahoma
    Type
    Buyout

    The Pennant Group, Inc. (NASDAQ: PNTG) has acquired Guardian Hospice and Guardian Hospice of Oklahoma to expand its hospice presence across northern Texas and southern Oklahoma. The acquisition adds hospice operations serving multiple counties in both states and supports Pennant's strategy to grow its home health, hospice and senior living platform and address unmet needs in rural communities.

  • Buyer
    LocumTenens.com
    Target
    Kimedics
    Type
    Buyout

    LocumTenens.com, part of the Jackson Healthcare family, has acquired Kimedics, a Nashville-based healthcare workforce management platform provider. The acquisition expands LocumTenens.com's workforce optimization and analytics capabilities; Kimedics will maintain operational autonomy and its brand while integrating with LocumTenens.com's solutions.

  • Buyer
    Bordeaux UK Holdings II Limited, Optum Health Solutions (UK) Limited (Optum UK), UnitedHealth Group Incorporated
    Target
    EMIS Group plc
    Location
    West Yorkshire, United Kingdom
    Type
    Buyout

    Bordeaux UK Holdings II Limited, an affiliate of Optum Health Solutions (UK) Limited and ultimately owned by UnitedHealth Group, has acquired EMIS Group plc. Optum UK said EMIS will remain based in Leeds with continuity of operations while receiving accelerated investment to expand its healthcare technology, interoperability and data analytics capabilities for the UK health system.

  • Buyer
    Roche
    Target
    Telavant Holdings
    Seller
    Roivant Sciences Ltd., Pfizer
    Type
    Buyout

    Roche entered into a definitive agreement to acquire Telavant Holdings, a company jointly owned by Roivant and Pfizer, for an upfront purchase price of $7.1 billion plus a near-term $150 million milestone payment. The deal gives Roche full rights to further develop, manufacture, and commercialize Telavant’s TL1A-directed antibody RVT-3101 in the US and Japan, with Pfizer retaining commercialization rights outside those territories.

  • Buyer
    Beckley Waves, NueCo Holdings PBC
    Target
    Nue Life Health Inc.
    Type
    Buyout

    Beckley Waves, a venture studio focused on building companies in the psychedelic ecosystem, has acquired the assets of Nue Life Health Inc. through a newly launched portfolio company, NueCo Holdings PBC. The acquisition will allow Beckley Waves to scale Nue Life's at-home ketamine-assisted therapy platform and expand access to underserved patients across the United States.

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