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 December 11, 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 - December 4, 2024.

• Addus HomeCare Corporation (NASDAQ: ADUS), a provider of in-home personal care services, completed the acquisition of the personal care operations of Gentiva, which serve 16,000 consumers per day in seven-state service area of Arizona, Arkansas, California, Missouri, North Carolina, Tennessee and Texas. Click here to read more about the acquisition. 

• Ampersand Capital Partners, closed its acquisition of Nektar Therapeutics' PEGylation reagent manufacturing business. The new Ampersand portfolio company will be branded Gannet Biochem and will continue to operate out of its facility in Huntsville, AL. Learn more about the acquisition here. 

• Argosy Healthcare Partners, announced a recapitalization and partnership with Nicklas Medical Staffing, a provider of staffing solutions to pathology and histology labs across the nation. View the announcement here. 

• ASH Investment Partners, an Atlanta-based private equity firm, invested in FortyAU, a digital services firm specializing in providing solutions to healthcare clients by creating custom software alternatives. Read more about the investment here. 

• Aya Healthcare and Cross Country Healthcare entered into a definitive agreement whereby Aya will acquire Cross Country for $18.61 per share in cash in a transaction valued at approximately $615M. Click here to learn more about the acquisition. 

• Bloom, a leading Medicare and ACA enrollment, engagement, and technology provider, acquired Focused Health, a health insurance distribution agency. The acquisition will expand Bloom’s service offerings to support members and carriers throughout the insurance purchasing experience. Learn more about the acquisition here. 

• CareSource, a nonprofit managed care organization, and Radiant Alliance, an operator of a nonprofit healthcare organization intended to serve supportive care and housing sectors, finalized a strategic alliance to improve health outcomes and quality of life for individuals with complex health needs. View the press release here. 

• CoachCare, a provider of remote patient monitoring, chronic care management, and other virtual care management services, acquired Texas-based Revolution Health Solutions, a full-service care management provider specializing in RPM, CMM, and Remote Therapeutic Monitoring. Read more about the acquisition here.

• Creach Family Holdings, a privately held investment firm focused on healthcare technology and tech-enabled services, acquired HealthRev Partners, a provider of revenue cycle management (RCM) services for the home health and hospice market. Read the announcement here.

• CuraLinc Healthcare, a provider of mental health and wellbeing programs catering to the emotional fitness of patients, acquired the employee assistance program (EAP) from Wellspring Family Services, a Seattle-based nonprofit dedicated to ending the cycle of family homelessness. This move, supported by CuraLinc’s primary investor Lightyear Capital, aims to expand access to holistic mental health and wellbeing resources for employees and their families nationwide. Click here to learn more. 

• Growth Catalyst Partners, a U.S. based private equity firm focused on investing in information, marketing, and tech-enabled services, acquired U.K.-based InspiredMinds!, an operator of a global tech and science strategy group focused on AI4Good in healthcare. Read more about the acquisition here. 

• Inspira Financial, a wealth, retirement, and benefits solution company, acquired First Dollar, a developer of a healthcare savings platform intended to help healthcare and retirement planning. Learn more about the acquisition here. 

• Kaiser-Permanente-backed Risant Health completed its acquisition of Cone Health, bringing the nonprofit health system under its umbrella following the acquisition of Geisinger back in March. Read the press release here.

• NationsBenefits, a provider of supplemental benefit solutions and an engagement platform for managed care organizations, acquired General Vision Services, a managed vision care and revenue cycle management company. Click here for more on the acquisition. 

• Neurotone AI, an aural rehabilitation developer, and creator of Lace AI Pro, entered into a definitive agreement to acquire Amptify, a digital hearing healthcare platform developed at Washington University in St. Louis School of Medicine. Learn more about the acquisition here. 

• Northwest Urgent Care, a Tucson, AZ, subsidiary of Community Health Systems, Inc. (NYSE: CYH), has completed the acquisition of certain urgent care centers owned and operated by Carbon Health in Arizona. Read more about the acquisitions here. 

• Owner Resource Group, an Austin, TX-based private investment firm, announced that ORG Opportunity Fund IV, LP, and its affiliates have completed an investment in Purpose Healing Center, a provider of alcohol and drug treatment centers intended for inpatient and outpatient programs. Click here for more on the investment. 

• Zelis, a developer of a healthcare information technology platform designed for end-to-end healthcare claims cost management and payment services, agreed to sell a minority stake in the company to a group of investors, led by Mubadala Investment Company and including Norwest and HarbourVest. Parthenon and Bain Capital remain the majority owners of Zelis. Click here to learn more. 

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.