Insights

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for January 7, 2025. 

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: Healthcare M&A Weekly - December 17, 2024.

• Apollo Care, a provider of patient access and commercial solutions to the healthcare industry, announced the closing of a minority equity investment from Flexpoint Ford. The funding will accelerate Apollo Care's investment in technology and innovation across its patient copay, hub solutions, data warehousing, and commercial analytics platforms. Read more about the investment here.

• Ardent Health (NYSE: ARDT), a provider of healthcare services in growing mid-sized urban communities across the US, acquired 18 urgent care clinics in New Mexico and Oklahoma from NextCare Urgent Care. Click here for more on the acquisitions.

• Asprion, a healthcare technology revenue cycle management company, acquired Boost Healthcare, a healthcare consulting firm intended to help healthcare providers identify and improve their financial performance. Learn more about the acquisition here.

• Associated Urologists of North Carolina, a regional urology practice consisting of 30 providers who care for over 40,000 unique patients throughout North Carolina, has joined Solaris Health, a healthcare management company operating in the urological field. View the announcement here.

• Aurora Capital, a Los Angeles-based private equity firm, acquired Vitality Labs, a company providing health optimization and personalized wellness solutions. Read more about the acquisition here.

• Avel eCare, a provider of clinician-to-clinician telemedicine services, acquired Hospital Pharmacy Management, a Kansas-based provider of remote medication order review and onsite pharmacy management services to hospitals and health systems. Learn more about the acquisition here.

• Avenues Home Care, a provider of home care, announced its expansion into several new locations across Dallas and surrounding Texas communities through the acquisition of Clear Path Home Care. View the press release here.

• Commure, a healthcare technology company, acquired Memora Health, a digital care navigation platform. Memora will strengthen Commure's existing AI-powered portfolio of patient engagement, clinical documentation, revenue cycle management, and RTLS solutions. Read more about the acquisition here.

• Epiphany Dermatology, an operator of dermatology and skin cancer clinics based in Austin, TX, has entered the greater Washington D.C. market through its partnership with The Dermatology Center, PA, with two practice locations in Maryland. Learn more about the partnership here.

• Everise, a provider of customer care outsourcing services intended to help enterprises experience resilient growth throughout the customer lifecycle, acquired customer experience management company Continuum Global Solutions' healthcare and utilities vertical from Skyview Capital. Click here for more on the acquisition.

• Hamershlag Private Capital Management, a health technology investment firm, announced its significant venture investment in Patho Care, a provider of “lab on a chip” non-invasive point of case diagnostic tests, underpinned by 17 patents. The transaction, valued at ~$150M, was structured as an acquisition and recapitalization using newly issued common stock and cash through a newly formed entity, PathoCare Holdings, to streamline the investment and operational framework. View the announcement here.

• Havencrest Capital Management, a Dallas-based private equity firm, acquired Sandhills Home Care, a North Carolina-based home care provider serving 14 counties. The transaction marks Havencrest’s fifth acquisition under its Avid Health at Home platform. Learn more about the acquisition here.

• Immedica, a global rare disease company with capabilities covering marketing and sales, compliance, pharmacovigilance, quality assurance, regulatory, medical affairs, market access, and distribution, entered into a merger agreement to acquire Marinus Pharmaceuticals (Nasdaq: MRNS), a commercial-stage pharmaceutical developer of therapeutics for seizure disorders. Read more about the merger agreement here.

• Innovate 32, a dental services organization formed by Shore Capital Partners, announced its partnership with Rachel Johnson & Associates, a provider of dental services in Murfreesboro, TN. View the press release here.

• Inszone Insurance Services, a national provider of commercial, personal, and benefits insurance, acquired Coe Agency, an independent insurance agency specializing in health and benefits solutions for individuals and businesses in Arizona, New Mexico, and Texas. Click here for more on the acquisition.

• JAG Physical Therapy, a comprehensive physical and occupational therapy practice providing care to patients and sports teams across 150 locations in the Northeast, announced that it has acquired Monmouth Rehab Professionals, expanding its footprint in NJ. Read more about the acquisition here.

• MGA Homecare, a provider of home and community-based physical and behavioral health services, acquired Ward Road Pharmacy, a long term care pharmacy and home medical supply company based in Colorado. Learn more about the acquisition here.

• Mid-Florida Endodontics, provider of endodontic services at ten locations across the Central Florida market, partnered with SRM Equity Partners. Click here for more on the partnership.

• NeueHealth (NYSE: NEUE), a value-driven healthcare company, entered into a definitive merger agreement pursuant to which it will be acquired by an affiliate of New Enterprise Associates (NEA) at an enterprise value of approximately $1.3B. Upon completion of the transaction, NeueHealth will become a privately held company. View the announcement here.

• Novo Holdings, a leading global life science investor, and Catalent, Inc., a leader in enabling the development and supply of better treatments for patients worldwide, announced that Novo Holdings has completed its acquisition of Catalent in an all-cash transaction with a total enterprise value of approximately $16.5B. View the press release here.

• Nymbl Systems, a provider of cloud-based practice management software for Orthotics and Prosthetics (O&P), Complex Rehabilitation Technology (CRT), and Home Medical Equipment (HME) providers, announced a strategic investment from Frontier Growth, a growth equity investment firm. Read more about the strategic investment here.

• Oceans Healthcare, a provider of inpatient and outpatient behavioral health services, has acquired all outstanding shares of Haven Behavioral Healthcare, Inc., a Nashville, TN-based provider of specialty behavioral health services. Learn more about the acquisition here.

• Ontario Teachers' Pension Plan invested in Omega Healthcare Management Services and joined private equity at Goldman Sachs Alternatives as co-lead investors. Omega aims to help its clients increase revenues, decrease costs, and improve the overall patient experience through technology-enabled and clinically-led solutions. TripleTree and Goldman Sachs & Co. acted as co-lead financial advisors to Omega. Click here for more on the investment.

• Sailpoint Technologies, a provider of identity security for enterprises, particularly those in healthcare, has acquired Imprivata, a digital identity company for mission- and life-critical industries. View the press release here.

• Solis Mammography, the nation's largest independent provider of specialized breast health services, announced its entry into the third largest metropolitan area in Texas with its most recent acquisition of Avestee Women's Imaging Centers in San Antonio. Learn more about the acquisition here.

• SuperTruth, a first-party data company focused on developing and augmenting technology and catalyzing investment where innovation and data intersect, announced the acquisition of imaware, a provider of at-home testing and the insight infrastructure that powers health and wellness brands. View the announcement here.

• Symbiotic, a provider of AI-enabled robotics technology for the supply chain, completed the acquisition of OhmniLabs, a Silicon Valley-based innovator in the field of robotics solutions for health care. Learn more about the acquisition here.

• Tandym Group, a provider of specialized talent solutions, announced the strategic realignment of its healthcare business and partnership with Everly Talent, a firm that specializes in direct hire nursing, allied health, social services, leadership and corporate positions within healthcare. Click here to learn more.

• Tarrytown Expocare Pharmacy, a long term care pharmacy entirely dedicated to serving the intellectual and developmental disabilities and behavioral health communities across 31 states, has acquired Greater Boston Long Term Care Pharmacy. Read more about the acquisition here.

• USANA Health Sciences (NYSE: USNA), a developer and manufacturer of nutritional supplements, functional foods, and personal care products, announced its acquisition of a 78.8% controlling ownership stake in Hiya Health Products, a direct-to-consumer provider of children’s health & wellness products. The $205M cash transaction closed on December 23, 2024. View the announcement here.

• Vincerx Pharma (Nasdaq: VINC), a California-based biopharmaceutical company focused on the development of therapies to meet the needs of patients with cancer, entered into a binding term sheet to merge with Oqory, a clinical-stage company developing ADCs for the treatment of multiple oncology indications. View the press release here.

• West Monroe, a global business and technology consulting firm, acquired Inspired Health, a Boston, MA-based market insights and commercial strategy consultancy serving life sciences clients. Click here for more on the acquisition.

• WomenCare, an Illinois-based physician group focused on providing comprehensive healthcare for women, has partnered with Webster Equity Partners, to form Nova Women’s Health Partners. Read more about the partnership here.

• WuXi AppTec, a global company that provides a portfolio of R&D and manufacturing services to enable companies in the pharmaceutical and life science industries, entered into a definitive agreement to sell the US and UK based operations of WuXi Advanced Therapies (ATU), its cell and gene therapy unit, to Altaris, a healthcare investment firm headquartered in New York. Learn more about the acquisition here.

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.