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 September 10, 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 - September 3, 2024.

• Arsenal Biosciences, a clinical stage programmable cell therapy company focused on engineering advanced CAR T-cell therapies for solid tumors, announced the close of an oversubscribed $325M Series C financing round. Read more about the financing round here.
• BrightSpring Health Services [NASDAQ: BTSG], a provider of home and community-based health services for complex populations, announced that it completed the acquisition of the assets of Haven Hospice, a Florida-based provider of comprehensive hospice care services. Learn more about the acquisition here.
• Circle Pharma, a US-based clinical-stage biopharmaceutical company dedicated to discovering and developing cell-permeable macrocycles therapies, raised $90M in a Series D financing round. View the press release here.
• Dynamic Infusion, a provider of home infusion nursing services backed by RiverGlade Capital, has acquired Ohio-based Columbus Specialty Nursing and Virginia-based ProNurse Homecare & Infusion. Read more about the acquisition here.
• eGenesis, a biotechnology company, closed a $191M Series D financing led by Lux Capital. Click here for more on the financing.
• The Ensign Group [NASDAQ:ENSG] has acquired the operations of Prairie Ridge Health and Rehabilitation, a 102-bed skilled nursing facility located in Overland Park, KS. Read more about the acquisition here.
• Fulcrum Equity Partners has made an investment in Physician Services Group of South Carolina, a provider of transitional and geriatric care for patients residing in skilled nursing and assisted living facilities. Learn more about the investment here.
• Genetics & IVF Institute, a Fairfax, VA-based provider of reproductive and fertility services, has been acquired by Amulet Capital Partners, a middle-market private equity investment firm. Read more about the acquisition here.
• Help at Home, a Chicago, IL-based provider of home care and community-based services backed by Centerbridge Partners and The Vistria Group, has acquired Care By Your Side, One Care Health and AAMedcare, three Georgia-based home care entities. View the announcement here.
• Leinco Technologies has acquired QED Bioscience, a provider of antibodies, kits, and recombinant proteins and antigens catering to the diverse needs of the IVD and research communities, from Genovis [STO:GENO], a Swedish producer of pharmaceutical products. Read the press release here.
• Keen Vision Acquisition Corporation [NASDAQ: KVAC, KVACW] and Medera Inc., a clinical-stage biotechnology company, have entered into a definitive merger agreement. Upon closing of the merger, which is expected to occur in the fourth quarter of 2024, the combined company is to be named Medera Inc. Read more about the merger here.
• OrsoBio, a Palo Alto, CA-based clinical-stage biopharmaceutical company, has raised $67M in Series B financing co-led by new investors Ascenta Capital and Woodline Partners LP. Click here for more about the financing.
• ProSmile, a New Jersey-based leading multi-specialty dental services organization backed by TriSpan, has acquired Oak Park, IL-headquartered Destiny Dental. Read more about the acquisition here.
• Revelstoke Capital Partners, a healthcare-focused private equity firm, has made a significant growth investment in MediQuant, an Independence, OH-based leader in cloud-based data archiving and interoperability solutions for hospitals and health systems. Learn more about the growth investment here.
• Select Medical Corporation, a Mechanicsburg, PA-based operator of specialty hospitals and rehabilitation clinics, has announced the signing of a definitive agreement to acquire Valir Rehabilitation Hospital, a 50-bed inpatient rehabilitation facility in Oklahoma City, OK. Read more about the acquisition here.
• Thatch, a San Francisco, CA-based personalized health benefits platform for forward-thinking businesses, has raised $38M in Series A funding led by Index Ventures and General Catalyst. View the announcement here.
• U.S. Physical Therapy [NYSE: USPH], a Houston, TX-based outpatient physical therapy clinics operator, has acquired 70% of an unnamed physical therapy and hand therapy practice based in Pennsylvania. Read more about the acquisition here.
• Venova Medical, a developer of vascular access systems, has announced the initial closing of a $30M Series B funding round. View the press release here.
• Veridian Healthcare, a Gurnee, IL-based leading outsourced manufacturer of private label and branded in-home diagnostic, pain care management, and personal care products, has acquired Zewa. Click here for more on the acquisition.

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.