Monthly Spotlights
Internal Medicine M&A Market
We examine the trends and investors driving the internal medicine M&A market, which has seen an uptick in recent years...
Read More
A Conversation with Lincoln Holdings at BOMA
The editorial team at LevinPro HC attended BOMA International’s Medical Real Estate Conference and sat down with Katy Lincoln, an experienced commercial real estate professional and licensed broker at Lincoln Holdings....
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Are We Past the Healthcare Retail Peak?
Walgreens' announcement to scale back nearly half of its VillageMD clinics, coupled with similar moves by Walmart and hints of caution from other retailers like CVS Health, raises serious questions about the long-term viability of retail healthcare...
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Table of Contents
Lead Story Page 1 Featured Deal Summaries Page 4 Additional Transactions ....................... Page 8
What's New On LevinPro HC
Check out our new healthcare analytics
A Conversation With Cushman & Wakefield
The editorial team sat down with Lorie Damon at BOMA
The editorial team at LevinPro HC attended BOMA International’s Medical Real Estate Conference in May and sat down with Lorie Damon, who leads the healthcare advisory practice at Cushman & Wakefield. Below is the Q&A of the conversation covering the medical real estate market.
Q: Can you provide a short background of you and the healthcare team at Cushman & Wakefield?
A: I lead the healthcare advisory practice at Cushman & Wakefield, comprised of more than 300 experts across our various service lines and real estate disciplines, including brokerage, capital markets, property management, project management and valuations.
Q: How would you rate the medical real estate market in Q1:24?
on page 2
Notable PE Activity During May 2024
Roughly 36% of all healthcare M&A deals in May involved PE
May 2024 was an active month for the private equity (PE) healthcare M&A market. LevinPro HC data shows that approximately 36% of healthcare deals announced during the month (53 of 146) involved PE acquirers and/or their portfolio companies. Although this is a small decline from May 2023, when 42% of healthcare deals announced involved PE, it is still a slight increase from the 35% of private equity transactions announced during April 2024.
This report dives into some of the most significant PE transactions in healthcare during May 2024, highlighting the key PE players and/or their portfolio companies and their recent moves in the healthcare M&A market ..........................................................................................................
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HC
HealthCareMandA
VOLUME 29 | ISSUE 06
JUNE 2024
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Continued
A: By the middle of 2023, we started to see a lot of pressures hit the market that have continued into 2024. Higher interest rates are one of the major headwinds, and that has resulted in significantly fewer investment sales and refinancings over the last several quarters. In addition, many pandemic-era programs designed to help health systems address COVID and pandemicrelated healthcare needs were completed, including allowing continuous enrollment in health insurance programs such as Medicaid. This provision ended last year, and many states elected to stop allowing continuous enrollment, which in turn, resulted in many Medicaid beneficiaries losing insurance coverage. And, overall, labor costs and construction costs rose throughout the pandemic, and those costs haven’t really come down, or rather, they have not returned to their pre-pandemic levels. As a result, we have seen many health systems and physician practices experience significant pressure on operating revenues.
Q: What property type (Medical outpatient buildings, ASC, urgent care, etc.) are you seeing the most investor interest and why?
A: We continue to see significant interest in all of these property types, both from a leasing and from an acquisition perspective. Well-leased and wellpositioned medical offices, and specifically ambulatory surgery centers, remain highly desirable assets, and we continue to see care providers evaluate these assets for locating clinical services. We’re seeing a lot of interest for urgent care centers, especially with leased locations that are operational. Last year, we helped a health system client acquire more than 30 urgent care centers, helping them develop some long-range plans because some of those locations were approximate to existing locations. You don’t want to cannibalize your existing portfolio. We’re also seeing a lot of interest in behavioral health because reimbursement models have shifted and there has been an explosion of demand for services in this sector, especially after the pandemic. We have seen a number of new behavioral health providers enter the sector and look to grow rapidly by establishing leased locations in their target markets.
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Q: What type of investors and buyers are you seeing in the medical real estate market?
A: Investment sales volumes are significantly reduced year over year. The most active buyers have been private capital and those who don’t need to access the debt markets for financing. We’re also seeing a lot of health systems and private equity-backed physician groups. Both are expanding through M&A, but the activity is primarily leasing demand, not necessarily property purchasing. Those groups are trying to expand their footprint. Even though there are a lot of pressures on the market, the demand for clinical care and the utilization of clinical care is back to pre-pandemic levels. And for physician groups and hospitals, their core business is clinical, so it makes why they’re trying to expand their portfolio where they can.
Q: What are some things clients need to be aware of as they try to expand? .......................................................
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VOLUME 29 | ISSUE 06 HealthCareMandA 3
Deal Summaries: Services Behavioral Health Care
Behavioral Innovations Private Tenex Capital Management
5/31/2024 $300,000,000 Various, TX New York, NY
In Brief: Behavioral Innovations provides center-based and in-home applied behavior analysis therapy, speech therapy and occupational therapy services to children ages birth through 18 with autism spectrum disorder and other related developmental disabilities. The company has 80 locations in three states: Colorado, Oklahoma and Texas. Almost 80% (63) of its locations are in Texas.
Deal Summaries: Services Laboratories, MRI and Dialysis
Grossman Imaging Centers Private RadNet, Inc.
RDNT 5/13/2024 $10,500,000 Oxnard & Ventura, CA Los Angeles, CA
In Brief: Grossman Imaging Centers provides medical diagnostic imaging services from two centers in Oxnard, California, and two more in Ventura, California.
Mirus Bio Private MilliporeSigma
5/22/2024 $600,000,000 Madison, WI Burlington, MA
In Brief: Mirus Bio develops biomimetic, cell-adaptive lipid-polymer nanocomplexes (LPNCs) for nucleic acid delivery. Originally developed for the therapeutic delivery of RNA, Mirus LPNCs have been adapted for a wide range of gene delivery applications.
Deal Summaries: Services Rehabilitation
1 injury prevention business N/A Briotix Health Limited
5/1/2024 $24,000,000 N/A Houston, TX
In Brief: The target is an undisclosed industrial injury prevention services business. The business currently generates approximately $11 million in annual revenues, according to the original deal press release published on Business Wire on May 1, 2024.
Deal Summaries: Services Other Services
Sarasota, Florida MOB N/A Anchor Health; BGO
$32,000,000 Sarasota, FL Charlottesville, VA; New York, NY
In Brief: The Sarasota, Florida medical outpatient building was built in 2020 and is 100% occupied. The facility is less than one mile from Lakewood Ranch Medical Center, a 120 bed hospital operated by Universal Health Services, and offers close proximity to HCA Florida Sarasota Doctors Hospital, a 155 bed hospital within the HCA Healthcare hospital system. The price is approximately $454 per-squarefoot.
Reynoldsburg, Ohio MOB Private Hammes Co.
5/15/2024 $22,800,000 Reynoldsburg, OH Milwaukee, WI
In Brief: The acquired asset is a newly constructed medical outpatient building (MOB) in Reynoldsburg, Ohio. The roughly 5-acre property is home to Central Ohio Primary Care (COPC), which announced the construction of the 62,000-square-foot MOB for $19 million in March 2023. The facility recently finished construction and several physician practices have started operating in the new space. The physician practices have an 85% ownership stake in the building and COPC's corporate entity owns about 15%. The core services offered at the new campus include primary care, pediatrics, family medicine and internal medicine. Additional services include radiology, physical therapy, laboratory and orthopedic urgent care. COPC is one of the largest independently-owned primary care groups in the country with more than 350 physicians. The price is $368 per-square-foot.
4 LevinAssociates.com
TARGET LISTING ACQUIRER LISTING DATE PRICE
Private
TARGET LISTING ACQUIRER LISTING DATE PRICE
NASDAQ:
Private
TARGET LISTING ACQUIRER LISTING DATE PRICE
Private
TARGET LISTING ACQUIRER LISTING DATE PRICE
Private
5/8/2024
Private
LevinPro
Deals, News & Analytics
Long-term care and health care investment intelligence. Gain an informational edge with focused news briefs, expert analysis, and in-depth deals intelligence spanning long-term care and health care industries.
Deal Summaries: Services Other Services
Reading, Pennsylvania MOB N/A
Sila Realty Trust, Inc.
Reading, PA Tampa, FL CVMCD
5/22/2024
In Brief: The acquired asset is a medical outpatient building (MOB) located in Reading, Pennsylvania. The two-story, 30,000-square-foot MOB was constructed in 2020 and serves as the outpatient treatment center for former patients of the adjacent inpatient behavioral facility, as well as other patients who only require outpatient care. The purpose-built facility is positioned on the campus of the 144-bed Tower Behavioral Health facility, also constructed in 2020. The MOB is fully leased to Reading Behavioral Healthcare, a joint venture between Acadia Healthcare and Tower Health. The price is $350 per-square-foot.
Jacksonville, Florida MOB N/A: Vitalis Properties
5/23/2024
$12,000,000 Jacksonville, FL Miami, FL
In Brief: The acquired asset is a 30,165-square-foot medical outpatient building (MOB) and surgery center in Jacksonville, Florida. Cross Regions developed the build-to-suit MOB for Coastal Health in 2022. The facility includes clinical space for Coastal Health’s orthopedic, spine, pain management, podiatry and physical therapy practices, in addition to an 8,000-square-foot ambulatory surgery center on the first floor. The price is $398 per-square-foot.
Atrion Corporation
NASDAQ: Nordson Corporation NASDAQ:
Allen, TX ATRI Westlake, OH NDSN
In Brief: Headquartered in Allen, Texas, Atrion Corporation is a leader in proprietary medical infusion fluid delivery and niche cardiovascular solutions. Established in 1944, Atrion supports customers globally through three specialized FDA-registered manufacturing facilities located in the United States. According to its most recent annual report, Atrion generated approximately $169 million in annual revenue in 2023, and $36.8 million in EBITDA.
Deal Summaries: Technology Biotechnology & Pharmaceuticals
Mariana Oncology Private Novartis AG
$1,000,000,000 Watertown, MA Basel, Switzerland
In Brief: Mariana Oncology is a fully integrated biotechnology company that has developed a portfolio of novel peptide-based radiopharmaceuticals targeting a broad spectrum of solid tumor cancers, and has invested in manufacturing capabilities, an extensive isotope supply chain and novel formulations to enhance final product shelf-life. The company’s lead program, MC-339, is a novel radioligand therapy designed to target small-cell lung cancer.
ACI-24.060 N/A
Takeda Pharmaceutical NYSE: TAK 5/13/2024
$100,000,000 N/A Osaka, Japan
In Brief: The asset in question, ACI-24.060, is an anti-Abeta active immunotherapy from AC Immune “designed to induce a robust antibody response against the toxic forms of Abeta believed to drive plaque formation and Alzheimer’s disease progression,” according to a May 13 release from AC Immune. AC Immune is currently evaluating ACI-24.060 in a phase 1b/2 trial in subjects with prodromal Alzheimer’s disease as well as in adults with Down syndrome.
Proteologix, Inc. Private Johnson & Johnson
NYSE: JNJ 5/16/2024
$850,000,000 San Carlos, CA New Brunswick, NJ
In Brief: Proteologix, Inc. is a privately held biotechnology company focused on bispecific antibodies for immune-mediated diseases. Proteologix’s portfolio includes PX128, a bispecific antibody targeting IL-13 plus TSLP, which is ready to enter phase 1 development for moderate to severe atopic dermatitis and moderate to severe asthma.
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TARGET LISTING ACQUIRER LISTING DATE PRICE
(cont'd)
OTCMKTS:
$10,500,000
Private
$800,000,000
5/28/2024
TARGET LISTING ACQUIRER LISTING DATE PRICE
NYSE:
NVS 5/2/2024
Deal Summaries: Technology Biotechnology & Pharmaceuticals (cont'd)
Human Immunology Biosciences Private Biogen Inc.
NASDAQ: BIIB 5/22/2024 $1,150,000,000 San Francisco, CA Cambridge, MA
In Brief: Human Immunology Biosciences (also called HI-Bio) is a biotechnology company currently preparing to advance an anti-CD38 monoclonal antibody into phase 3 in multiple rare immune-mediated indications.
Yellow Jersey Therapeutics Private Johnson & Johnson
NYSE: JNJ 5/28/2024
$1,250,000,000 Horgen, Switzerland New Brunswick, NJ
In Brief: Yellow Jersey Therapeutics is a wholly-owned subsidiary of Numab Therapeutics. The company holds the rights to NM26, an investigational first-in-class bi-specific antibody for the treatment of atopic dermatitis set to advance into Phase 2 clinical development.
Calliditas Therapeutics AB NASDAQ: Asahi Kasei TYO: 3407 5/28/2024 $1,121,000,000 Stockholm, Sweden CALT Tokyo, Japan
In Brief: Calliditas Therapeutics AB is a commercial-stage biopharmaceutical company focused on identifying, developing and commercializing novel treatments in orphan indications, with an initial focus on renal and hepatic diseases with significant unmet medical needs in the United States, Europe and Asia.
Eyebiotech Limited Private Merck & Co., Inc. NYSE: MRK 5/29/2024 $1,300,000,000 London, United Kingdom Rahway, NJ
In Brief: Eyebiotech, also called EyeBio, is a privately held ophthalmology-focused biotechnology company dedicated to developing and delivering a new generation of therapies to protect, restore and improve vision in patients with sight-threatening eye diseases.
Deal Summaries: Technology
Ecolab’s surgical solutions unit
NYSE: ECL Medline Industries, Inc.
Medical Devices
5/2/2024 $950,000,000 St. Paul, MN Northfield, IL
In Brief: Ecolab is selling its surgical solutions business to the medical supply segment. The deal encompasses the entire portfolio of products from Ecolab’s Microtek Medical line, which includes a variety of common hospital sanitation and personal protective equipment for healthcare workers.
Implacil de Bortoli
Sao Paulo, Brazil Seoul, South Korea
In Brief: Implacil de Bortoli is a Brazilian dental implant firm. With a portfolio of approximately 1,300 product items, the company offers a complete dental solution, ranging from dental implants and prosthetic components to surgical kits and biomaterials.
Agiliti, Inc.
NYSE: AGTI Thomas H. Lee Partners, L.P.
5/7/2024 $2,500,000,000 Eden Prairie, MN Boston, MA
In Brief: Agiliti is an essential service provider to the U.S. healthcare industry with solutions that help support a more efficient, safe and sustainable healthcare delivery system.
Surmodics, Inc.
NASDAQ: GTCR
5/29/2024 $627,000,000 Eden Prairie, MN SRDX Chicago, IL
In Brief: Surmodics is an Eden Prairie, Minnesota-based provider of performance coating technologies for intravascular medical devices and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays.
VOLUME 29 | ISSUE 06 HealthCareMandA 7
TARGET LISTING
LISTING DATE PRICE
ACQUIRER
TARGET LISTING ACQUIRER LISTING DATE PRICE
Private
Private Osstem Implant Co. Ltd. Private 5/2/2024 $89,800,000
Private
Private
Additional Transactions Services
BEHAVIORAL HEALTH CARE
Mind Body Wellness
Spectrum Behavioral Therapies, Inc.
HOME HEALTH & HOSPICE
Mind Body Optimization 5/6/2024
Optimal Investment Group 5/8/2024
2 addiction centers Tulip Hill Recovery 5/13/2024
Reset Behavior Health 1Care Hospice 5/17/2024
assets of Better Therapeutics, Inc. Click Therapeutics, Inc. 5/22/2024
Serenity Park Recovery Center Pathways Recovery Centers 5/23/2024
Origins' Texas facilities T&R Recovery Group 5/28/2024
South Davis Home Health & Hospice
Specialty Service Solutions Family
The Pennant Group, Inc. 5/1/2024
Home Care 5/1/2024
Western Drug Medical Supply SG Homecare 5/7/2024
Mid-Delta Home Health Arden Home Health & Hospice 5/14/2024
Nurses on Wheels The Pennant Group, Inc. 5/16/2024
CustomCARE
Based Care, LLC 5/17/2024
Addus HomeCare's New York operations HCS-Girling 5/21/2024
1 home-based primary care group
AccordCare’s personal care division
Health Network
Avero Diagnostics Women's Health
Health Services 5/22/2024
MANAGED
Inc. 5/8/2024
Antelope Valley Imaging RadNet, Inc. 5/13/2024
Associate Pathologists of Joliet Versant Diagnostics 5/14/2024
MUSIC Mammography and Ultrasound Solis Mammography 5/28/2024
Heart
Assoc. of America
Urological Services Solaris Health Holdings 5/1/2024
CornerStone Ear, Nose & Throat
SENTA Partners 5/1/2024
Mouth Carolina Dentistry, PA Peninsula Family Dentistry 5/1/2024
Urology Partners, LLC
Family Dental Group
Angolkar4Smiles
Integrated Oncology Network 5/2/2024
Smile Partners USA 5/2/2024
Cliff Ridge Specialty Partners 5/3/2024
Washington Family Dentistry Elevate Dental Partners 5/6/2024
Macedonia Dental Arts
Dental 5/6/2024
2 dermatology practices DermCare Management, LLC 5/6/2024
Piedmont Family Practice
Scheich Family Dentistry
Hulse Orthodontics
Artisan Plastic Surgery and Artisan Beauté
1 independent podiatrist
1 independent dental practice
Advanced Laparoscopic Surgeons
2 reproductive health centers
Potach & Mitchell Dental Clinic
Ordinacija Dr. Kovacic
CopperMine Dental Studio
UVA Health 5/7/2024
MB2 Dental Solutions 5/7/2024
Image Specialty Partners 5/7/2024
Olympus Cosmetic Group 5/8/2024
Orthopedic & Spine Centers of WI 5/8/2024
The Ricco Dental Group 5/8/2024
New York Bariatric Group 5/8/2024
Birla Fertility & IVF 5/13/2024
MB2 Dental Solutions 5/14/2024
Adria Dental Group 5/14/2024
MB2 Dental Solutions 5/14/2024
8 LevinAssociates.com
TARGET ACQUIRER DATE
SECTOR
Resource
Community
Brightspring
HouseWorks,
5/29/2024
The
5/1/2024
University
Jefferson
Med
LABORATORIES, MRI,
Horus
Veranex 5/1/2024
Arbor
Genomenon,
in CTY
LLC
HOSPITALS Western Peaks Specialty Hospital
Ensign Group, Inc.
Liberty Hospital
of Kansas Health System 5/1/2024 Lehigh Valley
Health System 5/15/2024 Logan Memorial Hospital
Center Health 5/29/2024
& DIALYSIS
Scientific
- Women's Health Elevated 5/4/2024 Clinical Knowledgebase
CARE 1 institutional special needs health plan Brightspring Health Services 5/22/2024
Atria
PHYSICIAN MEDICAL GROUP
Cardiovascular
5/1/2024
Heartland
Additional Transactions Services (cont'd)
VOLUME 29 | ISSUE 06 HealthCareMandA 9
SECTOR TARGET ACQUIRER DATE PHYSICIAN MEDICAL GROUP Life Dental Specialties Specialized Dental Partners 5/14/2024 Gramercy Park Digestive Disease Center Surgery Partners, Inc. 5/15/2024 Grace Pediatrics Southern Pediatrics 5/15/2024 Lake West Dental Heartland Dental 5/15/2024 Cosmetic & Implant Dentistry of La Jolla MB2 Dental Solutions 5/15/2024 Western Nephrology Evergreen Nephrology 5/15/2024 Queensboro Plaza Dental Care Dental365 5/15/2024 Mesa Implants & Periodontics Specialized Dental Partners 5/20/2024 St. Charles County Dermatologic Surgery Epiphany Dermatology 5/20/2024 Grandville Family Dental Care Seva Dental Team LLC 5/21/2024 Thorp Dental Center Imagen Dental Partners 5/21/2024 LA Dental Braces Cal Dental USA 5/23/2024 Hong Kong Integrated Oncology Centre New Frontier Group 5/24/2024 Green Dermatology PhyNet Dermatology LLC 5/24/2024 Chandler Implants & Periodontics Specialized Dental Partners 5/24/2024 1 independent dental practice MB2 Dental Solutions 5/28/2024 Tallahassee Plastic Surgery Clinic Ascend Plastic Surgery Partners 5/28/2024 Fayette Endodontics Specialized Dental Partners 5/28/2024 Lowry Endodontics MB2 Dental Solutions 5/29/2024 Longhorn Dermatology DermCare Management, LLC 5/29/2024 Western Kentucky Kidney Specialists Evergreen Nephrology 5/29/2024 Urology Clinic of Valdosta SGMC Health 5/30/2024 Dream Smile Center Imagen Dental Partners 5/31/2024 REHABILITATION 2-clinic physical therapy practice U.S. Physical Therapy, Inc. 5/1/2024 Access Physical Therapy & Wellness Confluent Health 5/10/2024 Westminster, CO inpatient rehab hospital Vitalis Properties 5/30/2024 OTHER SERVICES PreventVaccins European LifeCare Group 5/1/2024 Privia Medical Group - Georgia NuvoAir Medical Partners 5/1/2024 Round Rock, Texas MOB Not Disclosed 5/1/2024 Westbrook, Maine MOB Waterstone Properties Group 5/1/2024 Cincinnati, Ohio MOB Cincinnati Children's Hospital 5/2/2024 All Star Healthcare Solutions Knox Lane 5/2/2024 Advance Research Associates Ephicacy Consulting Group, Inc. 5/2/2024 QuadMed, Inc. Bound Tree Medical 5/2/2024 Creapharm's pharmaceutical services Myonex 5/2/2024 Premier Geriatric Solutions PLLC Eventus WholeHealth 5/3/2024 Orlando, Florida MOB Private investor 5/3/2024 Orchard Park Medical Center Not Disclosed 5/3/2024 Coastal Infusion Services PromptCare 5/6/2024 Elixia American Clinical Research 5/8/2024 PozLab Selvita S.A. 5/8/2024 Valparaiso, Indiana medical office building Not Disclosed 5/10/2024 Patient First Four Corners Property Trust 5/13/2024 California Skin Surgery Center Golden State Dermatology 5/14/2024 BSN Medical Distribution Facility Diamond Properties 5/14/2024 Mondovi, Wisconsin health clinic Emplify Health 5/16/2024 3-building medical outpatient portfolio Montecito Medical Real Estate 5/16/2024 1 medical outpatient building portfolio Not Disclosed 5/16/2024 1 medical outpatient building portfolio Not Disclosed 5/16/2024 2-building medical outpatient portfolio Montecito Medical Real Estate 5/16/2024 2-building medical outpatient portfolio Montecito Medical; AEW Capital 5/16/2024 IV Services, LLC Genefic, Inc. 5/21/2024 Prometheus Medical Response Plus Holding PJSC 5/21/2024
Additional Transactions Services (cont'd)
Additional Transactions Technology
10 LevinAssociates.com
SECTOR TARGET ACQUIRER DATE OTHER SERVICES Spectrum Medical Physics Inc. Apex Physics Partners 5/21/2024 21 Novant Health facilities Remedy Medical; Kayne Anderson 5/22/2024 1 home and community pharmacy in Texas Brightspring Health Services 5/22/2024 Austin, Texas medical outpatient building Not Disclosed 5/22/2024 BASS Surgery Center United Surgical Partners 5/23/2024 Xpress Wellness Urgent Care Goldman Sachs Alternatives 5/23/2024 Habit Health Five V Capital 5/23/2024 Austin, Texas medical outpatient building Stockdale Capital Partners, LLC 5/28/2024 Eljen Medical Clinic City of Dawson Creek 5/28/2024 BIOBank IK Partners 5/30/2024 Ma’am Exams HealthyU Clinics 5/30/2024
SECTOR TARGET ACQUIRER DATE BIOTECH & PHARMA lerociclib Pepper Bio 5/1/2024 Serendipity Biosciences Arbor Biotechnologies, Inc. 5/8/2024 OnKure Reneo Pharmaceuticals 5/14/2024 Absolute Biotech Vector Laboratories Inc. 5/15/2024 ReNAgade Therapeutics Orna Therapeutics 5/23/2024 Harvest of Ohio Trulieve Cannabis Corp. 5/30/2024 eHEALTH Nuvo Group LAMF Global Ventures Corp. I 5/1/2024 Major Care Pacify 5/1/2024 Horizon Virtual Avel eCare 5/2/2024 Quintessence Business Solutions & Services Firstsource Solutions Limited 5/3/2024 eFertility Vitrolife 5/3/2024 Eden Health, Inc. Centivo 5/20/2024 AMI Cardiac Monitoring WearLinq 5/21/2024 Akili Interactive Virtual Therapeutics 5/29/2024 C24, Inc. Alpha Omega Health 5/30/2024 Remission Medical MedVanta 5/31/2024 MEDICAL DEVICES Dental Whale UptimeHealth 5/1/2024 Healthium MedTech Private Limited KKR & Co. L.P. 5/6/2024 SAM Medical Tri-Tech Forensics, Inc. 5/8/2024 Sonio SAS Samsung Medison 5/8/2024 Access Point Technologies Stereotaxis 5/13/2024 Innara Health Cardinal Health 5/14/2024 Perspective Therapeutics' brachytherapy GT Medical Technologies 5/16/2024 Oticon Medical Cochlear Ltd. 5/22/2024
Deal Volume, May 2024 vs. April 2024 and May 2023
Announced Deal Value, May 2024 vs. April 2024 and May 2023
Source: LevinPro HC, June 2024
VOLUME 29 | ISSUE 06 HealthCareMandA 11
May 2024 Share April 2024 Change May 2023 Change Services Behavioral Health Care 8 4% 7 14% 7 14% Home Health & Hospice 9 4% 7 29% 8 13% Hospitals 4 2% 6 -33% 4 0% Labs, MRI & Dialysis 8 4% 6 33% 13 -38% Long-Term Care 54 26% 52 4% 33 64% Managed Care 1 0% 1 0% 2 -50% Physician Medical Groups 44 21% 42 5% 66 -33% Rehabilitation 4 2% 6 -33% 3 33% Other Services 43 20% 42 2% 47 -9% Services subtotal 175 83% 169 4% 183 -4% Technology Biotech & Pharma 13 6% 20 -35% 25 -48% eHealth 10 5% 19 -47% 18 -44% Medical Devices 12 6% 5 140% 7 71% Technology subtotal 35 17% 44 -20% 50 -30% Grand total 210 100% 213 -1% 233 -10%
May 2024 Share April 2024 Change May 2023 Change Services Behavioral Health Care $300,000,000 2% $23,630,000 1170% $0 Home Health & Hospice $0 0% $250,000 -100% $0 Hospitals $0 0% $1,563,778,000 -100% $492,752,000 -100% Labs, MRI & Dialysis $614,030,000 5% $239,000,000 157% $95,000,000 546% Long-Term Care $278,390,000 2% $365,720,000 -24% $404,607,000 -31% Managed Care $0 0% $0 $0 Physician Medical Groups $0 0% $0 $1,480,456 -100% Rehabilitation $24,000,000 0% $16,400,000 46% $3,100,000 674% Other Services $892,900,000 7% $311,350,000 187% $11,472,480,000 -92% Services subtotal $2,109,320,000 16% $2,520,128,000 -16% $12,469,419,456 -83% Technology Biotech & Pharma $6,771,000,000 52% $8,847,600,000 -23% $3,886,611,500 74% eHealth $10,300,000 0% $1,783,000,000 -99% $202,100,000 -95% Medical Devices $4,166,800,000 32% $13,410,000,000 -69% $738,000,000 465% Technology subtotal $10,948,100,000 84% $24,040,600,000 -54% $4,826,711,500 127% Grand total $13,057,420,000 100% $26,560,728,000 -51% $17,296,130,956 -25%
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