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 October 8, 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 - October 2, 2024.

• The 20 MSP, a managed service provider, acquired iCoreIT, the managed IT services division of iCoreConnect (NASDAQ: ICCT), a cloud-based software and technology company serving the enterprise and healthcare sectors. Read more about the acquisition here.
• Aktis Oncology, a clinical-stage biotechnology company pioneering the discovery and development of novel targeted alpha radiopharmaceuticals to treat a broad range of solid tumors, announced the closing of an oversubscribed and upsized $175M Series B financing. Learn more about the financing here.
• Bioventus Inc. (NASDAQ: BVS), signed a definitive agreement to sell its Advanced Rehabilitation business of its subsidiary, Bioness, to Accelmed Partners. The transaction includes a total cash consideration of $45M. View the press release here.
• Brookdale Senior Living Inc. (NYSE: BKD) entered into agreements to acquire 41 communities (2,789 units) from three current triple-net lease portfolios for a combined purchase price of $610M. Read more about the acquisitions here.
• Carisk Partners, a specialty risk transfer and care coordination company, acquired HeadsUp Healthcare (previously DentalWorks), a specialty managed care company focusing exclusively on above the neck injuries. View the announcement here.
• Certara, Inc. (NASDAQ: CERT), a global model-informed drug development company, acquired Chemaxon, a developer of scientific informatics software products used by the life sciences industry for in-silico research. Learn more about the acquisition here.
• Commure, a healthcare technology company, acquired Augmedixm, a company specializing in ambient medical documentation technology. Augmedix will now operate as a wholly-owned subsidiary of Commure. Click here to learn more about the acquisition.
• The Ensign Group, Inc. (Nasdaq: ENSG), acquired the real estate and operations of St. Joseph Rehabilitation and Care Center, an 83-bed skilled nursing facility; and Skyview Villa Assisted Living, a 20 licensed-bed assisted living facility. Learn more about the acquisition here.
• First Principles Capital invested in Logic Tech Corp, a Canadian dental practice management software company. Read more about the investment here.
• Health Advocates Network, Inc., a national provider of supplemental healthcare staffing solutions, announced the asset acquisition of WorkSquare Healthcare Staffing Solutions, a Miami, FL-based provider of national travel nurse services. Click here to learn more.
• H.I.G. Capital announced that one of its affiliates completed the acquisition of SkinCure Oncology Intermediate LLC, a provider of image-guided superficial radiation therapy (IG-SRT) solutions. Read more about the acquisition here.
• Humaneva Inc., the parent company of Pratia, Kapadi, and Hyggio - providers of integrated clinical trial solutions, entered into a significant investment agreement with Viking Global Investors. Under this agreement, Viking acquired a minority stake in Humaneva Inc. for $50M. Read more about the investment here.
• LetsGetChecked, a global healthcare solutions company, acquired Truepill, a digital pharmacy platform, for $525M. Truepill will operate as a wholly-owned subsidiary of LetsGetChecked, with teams collaborating on integrations that enhance the customer and patient experience. Read more about the acquisition here.
• Level Ex Games' pharma and life sciences division has been acquired by Relevate Health Group, an existing portfolio company of Mountaingate Capital. View the press release here.
• Lonza, a healthcare development and manufacturing organization, acquired the Genentech large-scale biologics manufacturing site in Vacaville, CA from Roche for $1.2B. Read more about the acquisition here.
• MDpanel announced a business combination with Crawford Evaluation Group, a Wisconsin-based provider of independent medical evaluations (IMEs) and medical record reviews across the Midwest. View the announcement here.
• PeaceHealth and Providence Medical Group entered into a definitive agreement that will result in PeaceHealth acquiring four Providence clinic sites located in Clark County, WA. Read more about the acquisitions here.
• Regor Pharmaceuticals entered into a definitive purchase agreement whereby Genentech, a member of the Roche Group, will acquire a portfolio of next-generation CDK inhibitors from Regor for the treatment of breast cancer. Click here to view the press release.
• Rippl, a virtual dementia care company, secured $23M in series A funding to expand its services to patients in more states. Learn more about the funding.
• RXNT, a Maryland-based healthcare technology company, acquired Scalabull, a nationwide interfacing network that empowers EHR systems to connect with clinical laboratories and radiology facilities. Read more about the acquistion here.
• Spectra Medical Devices, LLC, a portfolio company of QHP Capital, acquired XL Precision Technologies Ltd., the United Kingdom based manufacturer of precision micro-components, complex tubular components, and sub-assemblies for the medical device industry. XL-PT is now a wholly-owned subsidiary of Spectra. Read the announcement here.
• Stryker (NYSE: SYK) acquired Vertos Medical Inc., a provider of interventional pain management solutions for chronic lower back pain caused by lumbar spinal stenosis. Learn more about the acquisition here.
• Surgery Partners closed a strategic partnership with eleven Wisconsin-based physician owned entities to form Midwest Orthopedic and Musculoskeletal Alliance. Read more about the strategic partnership here.
• Thriveworks, a mental health provider, acquired AI-powered behavioral health company Synchronous Health. View the press release here.
• VieCure Inc., a provider of next-generation intelligence platforms that democratize community oncology care, announced the completion of a $45 million financing led by Northpond Ventures and the appointment of industry veteran Richard Daly as chairman of the board of directors. Learn more about the financing.
• VisiQuate, a provider of advanced revenue cycle analytics, AI-powered workflow, and automation, has been acquired by Accel-KKR. Read more about the acquisition here.
• Waud Capital Partners acquired Science Exchange, a provider of life sciences procurement and supplier management SaaS solutions. Click here to learn more.
• Wellinks, a virtual-led cardiopulmonary care provider, acquired Spire Health. The acquisition merges Spire’s novel patient monitoring technology with Wellinks' highly specialized virtual-led cardiopulmonary care model creating a first of its kind fully integrated Predictive Patient Care company. Read 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.