MARKET ANALYSIS

Healthcare M&A Weekly 4.22.24

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for April 22, 2024. 

The healthcare industry is rapidly evolving, with the lines between the healthcare technology and services sectors blurring - creating the catalyst for innovation, transformation, and continued market activity. TripleTree's Healthcare M&A Weekly summarizes recent mergers, acquisitions, and investments shaping the future of healthcare.

To view previous healthcare M&A activity, please review last week's post: Healthcare M&A Weekly - April 15, 2024.

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• Asher Biotherapeutics, a California-based biotechnology company has secured $55M in a Series C financing round, led by RA Capital Management. Read more about the financing here.

 

• Atrium Health Floyd and Harbin Clinic have finalized a long-anticipated strategic combination, creating an integrated health care system. View the announcement here.

 

• Bruker Corporation, a global life science analytical instrument company, will acquire substantially all of NanoString Technologies's [OTC: NSTGQ] assets for approximately $392M. Read more about the acquisition here.

 

• CareMetx, a technology-enabled hub services platform facilitating patient access to specialty medications, acquired PX Technology. Learn more about the acquisition here.

 

• Community Health Systems, a Tennessee-based hospital operator, is selling 351-bed Tennova Healthcare - Cleveland, and certain related businesses to affiliates of Hamilton Health Care System for $160M. Click here to learn more.

 

• DrFirst acquired substantially all assets of Myndshft Technologies, Inc., a leader of end-to-end real-time medical benefits and automated prior authorization (PA) software-as-a-service (SaaS). Read the press release here.

 

• Elevance Health, Inc. (NYSE: ELV) and Clayton, Dubilier & Rice (CD&R) announced an agreement to form a strategic partnership. Operating across multiple regions of the United States, the partnership will bring together Elevance Health's Carelon Health and CD&R's portfolio companies, Apree Health and Millennium Physician Group (MPG). Click here for more on the strategic partnership.

 

• Evergreen Theragnostics, a New Jersey-based clinical-stage radiopharmaceutical company, completed a $26M capital raise backed by both current shareholders and new institutional investors, Petrichor and LIFTT. View the announcement here.

 

• Legacy Hospice acquired Mississippi-based HomeCare Hospice for an undisclosed sum. Read more about the acquisition here.

 

• Lifepoint Rehabilitation, a business unit of Lifepoint Health based in Brentwood, TN, acquired an inpatient rehabilitation facility in San Antonio, TX from Everest Rehabilitation Hospitals, a multispecialty rehabilitation hospital company. Learn more about the acquisition here.

 

• Medical Properties Trust, a US-based hospital trust, announced it has sold its interest in five Utah hospitals to a newly formed venture with an investment fund for $1.1B in immediate cash. Click here to learn more.

 

• Medicus IT, a national provider of healthcare technology solutions and managed services, acquired BlueNovo, a provider of healthcare, quality, and technology services dedicated to community health centers. Read more about the acquisition here.

 

• Northlane Capital Partners announces the sale of its equity interest in VMG Health to Incline Equity Partners. Read the press release here.

 

• Sunstone Partners, announced its investment in Accuhealth, a healthcare technology company offering comprehensive remote patient monitoring (RPM) and chronic care management (CCM) solutions. Click here for more on the investment.

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Transactions outlined in this summary highlight some of the key trends shaping the future of healthcare. Get the latest industry news from TripleTree every week.

This is a partial list of transaction activity across the healthcare industry and is not intended to be a complete listing. Transaction information was identified from various sources and TripleTree may or may not have acted as the financial advisor for the transactions listed. All product names, logos and brands are property of their respective owners. All company, product and service names used in this communication are for identification purposes only. Use of these names, logos and brands does not imply endorsement.