GLOBAL HEALTHCARE SERVICES

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Commentary by: Eric Murphy, Managing Director, Global Healthcare Services

The first quarter healthcare mergers and acquisition transactions see a significantly large transaction size compared to last year's first quarter and one of the largest average seller sizes in the past ten years. Kaufman Hall reported in their Healthcare Merger & Acquisition Activity Report: Q1 2021 that the average seller size by revenue is $676M. The overall number of transactions for this first quarter is significantly less than last year, with 13 announced transactions for this quarter as compared to # for the same period last year. The small number of transactions is offset by the type of large transactions that h...

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Commentary by: Eric Murphy, Managing Director, Global Healthcare Services

Northside Hospital has acquired three ChoiceOne Urgent Care locations in Georgia. Northside will partner with the Urgent Care Group out of Nashville, TN to manage and operate the newly acquired Hamilton Mill, Grayson and Sugar Hill locations. The ChoiceOne Urgent Care business was previously owned by Fresenius Medical Care, which is leaving the urgent care business.

ChoiceOne Urgent Care:

  • Headquarters: Buford, GA

  • Industry: Clinics / Outpatient

  • Services: Urgent Care

  • Acquired By: Northside Hospital

  • Acquisition Announced: March 2, 2020

  • Type: Acquisition

  • Deal Amount: Undisclosed Amount

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Source: PitchBook Data, Inc., Newmark
M&A Dea...

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Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

New Generation Health has acquired Genesis Healthcare's real estate and operations of six skilled nursing facilities located in California, Nevada and Washington.

  • Headquarters: Pennsylvania

  • Number of Beds: N/A

  • Industry: Clinics/Outpatient

  • Services: Long Term Acute Care

  • Acquired By: New Generation Health

  • Acquisition Announced: February 1, 2020

  • Type: Acquisition

  • Deal Amount: Undisclosed Amount

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Source: PitchBook Data, Inc., Newmark
M&A Deals represent Hospital/Inpatient Services and Clinics/Outpatient Services transactions

Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

VillageMD acquired Summit Medical Group Arizona, a subsidiary of Summit Health Management. The group provides specialized surgical solutions including breast surgery, neurology, internal medicine and related general surgery options.

  • Headquarters: Glendale, AZ

  • Number of Beds: Not Provided

  • Industry: Hospital/Inpatient Services

  • Services: Specialized surgical solutions

  • Acquired By: VillageMD

  • Acquisition Announced: January 30, 2020

  • Type: M&A

  • Deal Amount: Undisclosed Amount

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Source: PitchBook Data, Inc., Newmark
M&A Deals represent Hospital/Inpatient Services and Clinics/Outpatient Services transactions

Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

Overall, the number of mergers and acquisitions remained consistent in 2019 compared to 2018. However, M&A is becoming more strategic in nature rather than just financially driven. We are seeing more partnerships where hospitals are looking to grow in a certain specialty, or one system has a health plan and the other is strong in value-based care. The trend to look for in the coming years is how the mergers are complementary and benefit both parties.

Article written by: Susan Morse, Healthcare Finance, January 23, 2020

In 2020, the hospital-to-hospital merger or partnership is about complementary resources - one ...

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Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

Obstetrics & Gynecology of Indiana provides women's health services for advance the delivery of obstetrical and gynecological care for women. It is based in the northern suburb of Indianapolis. It was acquired by Audax Group’s Axia Women’s Health for an undisclosed sum. It is their 4th investment since 2017.

  • Headquarters: Carmel, IN

  • Number of Beds: Not Provided

  • Industry: Clinics/Outpatient Services

  • Services: Obstetrical and Gynecological care

  • Acquired By: Axia Women's Health/Audax Group

  • Acquisition Date: November 4, 2019

  • Type: M&A

  • Deal Amount: Undisclosed Amount

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Source: PitchBook Data, Inc., Newmark
M&A De...

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Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

Englewood Hospital includes, the Englewood Health Physician Network and Englewood Health Foundation to deliver care in a community setting to residents in the northern New Jersey market. It was acquired by Hackensack Meridian Health for $400M and will help grow and build better access to care in the northern New Jersey region.

  • Headquarters: Engelwood, NJ

  • Number of Beds: Not Provided

  • Industry: Hospitals/Inpatient Services

  • Services: Inpatient and Outpatient Services

  • Acquired By: Hackensack Meridian Health

  • Acquisition Date: October 15, 2019

  • Type: M&A

  • Deal Amount: $400M

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Source: PitchBook Data, Inc., Newmark

M&A Deals repres...

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Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

Hahnemann University Health has a 496-bed academic medical center which is a tertiary care institution that specializes in bariatric surgery, cardiac services, OB/GYN, orthopedics, medical, surgical and radiation oncology, bone marrow transplantation, renal dialysis, kidney and liver transplantation and transgender surgery. It has reached an agreement to be acquired by Drexel University Endowment and Tower Health for $50 million.

  • Headquarters: Philadelphia, PA

  • Number of Beds: 496

  • Industry: Hospitals/Inpatient Services

  • Services: Academic Medical Center

  • Acquired By: Drexel University Endowment and Tower Health

  • Acquisit...

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Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

Independent Emergency Physicians has formed a joint venture with Healthy Urgent Care. The venture will create an emergency physician owned network of urgent care facilities throughout Michigan.

  • Headquarters: Michigan

  • Number of Beds: N/A

  • Industry: Clinics/Outpatient Services

  • Services: Urgent Healthcare Centers

  • Joint Venture: Independent Emergency Physicians and Healthy Urgent Care

  • Acquisition Date: August 21, 2019

  • Type: Joint Venture

  • Deal Amount: N/A

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Source: PitchBook Data, Inc., Newmark
M&A Deals represent Hospital/Inpatient Services and Clinics/Outpatient Services transactions

Article commentary by: Eric Murphy, Managing Director, Global Healthcare Services

Lourdes Health System, a subsidiary of Trinity Health, operates 3 hospitals in New Jersey, providing a range of healthcare services to the community. The system was acquired for $60 million by Virtua Health. The acquisition expands services for Virtua in the region.

  • Headquarters: Camden, NJ

  • Number of Beds: 381

  • Industry: Hospital/Inpatient Services

  • Services: Multi-Specialty Community Health System

  • Acquired By: Virtua Health

  • Acquisition Date: July 1, 2019

  • Type: Acquired

  • Deal Amount: $60.0 million

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All information contained in this publication is derived from sources that are deemed to be reliable. However, Newmark has not verified any such information, and the same constitutes the statements and representations only of the source thereof, and not of Newmark. Any recipient of this publication should independently verify such information and all other information that may be material to any decision that recipient may make in response to this publication, and should consult with professionals of the recipient's choice with regard to all aspects of that decision, including its legal, financial, and tax aspects and implications. Any recipient of this publication may not, without the prior written approval of Newmark, distribute, disseminate, publish, transmit, copy, broadcast, upload, download, or in any other way reproduce this publication or any of the information it contains. This document is intended for informational purposes only and none of the content is intended to advise or otherwise recommend a specific strategy. It is not to be relied upon in any way to predict market movement, investment in securities, transactions, investment strategies or any other matter.

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