Health systems accounted for half of the physician practice deals Becker’s reported over the past month. Specialty platforms made moves in optometry, musculoskeletal care and cosmetic surgery.
Here are six deals to know:
1. The West Hawaii Region of Kealakekua-based Hawaii Health Systems Corp. has acquired Ali‘i Health Center and folded its outpatient clinics into its care network. The clinics now operate as Kona Health, a clinical department of Kona Community Hospital.
2. St. Louis-based EyeCare Partners entered into an agreement to sell its optometry business to Vienna, Va.-based MyEyeDr. EyeCare Partners plans to put additional emphasis and resources on its ASC and ophthalmology businesses following the sale, and will use the proceeds to reduce debt, increase liquidity and strengthen its capital structure.
3. Lexington, Ky.-based Cardiff Lexington, a healthcare company focused on orthopedics and spine care, has signed a letter of intent with the owners of a physician-led, multi-location musculoskeletal platform. Under the proposed transaction, Cardiff Lexington would pay an aggregate purchase price consideration of up to $104 million, including $30 million in cash at closing, with Cardiff Lexington acquiring the equity interests of the acquisition target.
4. Schenectady, N.Y.-based Ellis Medicine has acquired CareNet Medical Group, an independent women’s health and OB-GYN practice that has served the Capital Region since 1983.
5. Olympus Cosmetic Group acquired Gallaher Plastic Surgery & Med Spa, a cosmetic surgery practice in Knoxville, Tenn. The deal marks Olympus’ first practice in Tennessee and expands the platform into its ninth state, according to the announcement. Terms of the transaction were not disclosed.
6. Rochester Regional Health has acquired Rochester Dermatologic Surgery in Victor, N.Y., adding general dermatology and Mohs surgery capacity in the Finger Lakes. The practice is now Rochester Regional Health Dermatology & Mohs Surgery — Victor, effective Sept. 2. Physicians Sherrif. Ibrahim, MD, and William Sipprell, MD, along with nurse practitioner Kelly Demchuk, will stay on staff. Gian Vinelli, MD, is joining the practice as RRH expands its clinical resources and appointment access.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
