Sharecare’s Post

Altaris, LLC, a private equity firm, agreed to acquire Sharecare, a digital health company, for $540m. “Today’s announcement not only delivers value for Sharecare’s stockholders but also will result in exciting opportunities for our employees and customers. This transaction is an important step forward to enable the continued growth and evolution of Sharecare, and further strengthens us as we deploy our innovative technology across the healthcare sector," Brent Layton, Sharecare CEO. Sharecare (led by Brent Layton, Jeff Arnold, Justin Ferrero and Carrie Ratliff) is advised by Houlihan Lokey, MTS Health Partners, King & Spalding, and Wachtell, Lipton, Rosen & Katz (led by Dan Neff, Mark Gordon and Meng Lu). Altaris, LLC (led by Daniel Tully, George Aitken-Davies, Lana Dweik and Chuck Mullens) is advised by Kirkland & Ellis. #MergersAcquisitionsDivestitures #PrivateEquity #HealthCare #Technology

A lot of news for UnitedHealth Group on the M&A front over the last 24 hours as the Steward Health Care deal is no longer and the Amedisys is close to being through regulatory. 👉🏻Steward Health Acquisition Steward Health Care, a for-profit that runs 31 hospitals in several states, is currently working through bankruptcy and State/Federal regulators were not keen on UNH/Optum acquiring. 💡 Optum already employs or is affiliated with over 90,000 physicians—more than 10% of the country’s total—and there were concerns of higher prices and reduced quality. 👉🏻Amedisys Acquisition Almost a year ago to the day (6/26/23) that this deal was announced for 3.6 billion for this home health and hospice provider. There was concern from day 1 as they had just acquired LHC home health for 5.4 billion months earlier. 💡Allowing UNH/Optum to acquire both assets would give them 10% of the home health and a smaller portion of the hospice space so the DOJ was working with both companies to accommodate the sale. Interested to get more details on both deals in the coming days but UNH is certainly looking to deploy capital in the M&A space. At the end of Q1, UNH reported having more than 28 billion in cash😳. They have authority to buyback 9 million shares this years (4-5 billion dollars) so this is a different avenue beyond that for returns. 🙌 Spend money in assets you own and turn expenses into businesses…. Sign of the times #healthcare #marketaccess

The 2023 Results are out! And they are looking good 😎 Increase in revenue ✅ Rise in operating profits ✅ Acquisitions and Growth ✅ Early delivery on our IPO targets ✅ For more details, have a look in this article from RTE with our Group CEO Ger Rabbette Keep an eye on our website where the full results will be shared shortly 📈 #rte #uniphar #unipharjobs #revenue #2023results

What's New to TheStreet... 🌟 Breaking News: Carlyle Group enters exclusive negotiations to acquire Baxter’s kidney-care spinoff Vantive for over $4 billion, encompassing debt. 💼💰 What are your thoughts on this potential acquisition? Share below! 💬⬇️ 👉🏻Follow New To The Street for more! #carlylegroup #vantive #medicaldevices #acquisition #businessnews #business #news #newtothestreet

We’re featuring 15 U.S. milestones as we celebrate the #EQTUSA15 anniversary. Yesterday, we highlighted EQT’s first ever U.S. investment, which was completed by the first EQT Infrastructure fund. Today, we’re spotlighting EQT Private Equity’s first investment in the United States. In 2016, EQT acquired Press Ganey, which partners with healthcare providers to help transform the patient experience. During EQT’s ownership, Press Ganey introduced its next-generation digital platform, grew revenue organically, and completed multiple strategic acquisitions to strengthen its position in the US healthcare market. Press Ganey was also EQT Private Equity’s first divestment in the U.S. https://lnkd.in/epcXnGF8

Take-private transactions 🔏 💰 👩⚕️ 🚑 Thoma Bravo has completed the $1.8bn take private of NextGen Healthcare, an Atlanta-based provider of software used in handling electronic medical records. The deal was announced in September.   NextGen Healthcare serves more than 100,000 ambulatory healthcare providers who care for more than 65 million patients in the US. Earlier in the week, Francisco Partners and TPG completed the previously announced take-private deal of New Relic, a provider of tools for developing software, for $6.5 billion.   New Relic stockholders approved the deal on November 2. OTHER DEALS: 🤝 💼 Health tech firm Virgin Pulse and New Mountain Capital-backed HeathComp complete merger Caisse de dépôt et placement du Québec (CDPQ) backs AVENIR GLOBAL's growth with minority investment TJC (The Jordan Company) to sell CPI's electronic device business to TransDigm Group Inc. Fort Point Capital-backed Jones Lake Management buys pond management services provider Ponds Rx Sterling Partners exits music education franchise School of Rock #privateequity #privateequityfirms

Is your healthcare organization looking into the possibility of mergers and acquisitions? 🏥 What if there was a way to prevent a merger or takeover and achieve an even better growth prognosis? 🤔 In his article for HIT Consultant Media, Steer's CEO Sridhar Yerramreddy provides a growth playbook for mid-sized organizations and explains how they can focus on patient-centrism for sustainable growth. Take a look here: https://lnkd.in/d_4WSEsY

Hospitals and health systems are facing steep financial and operational pressures in the current environment, forcing many to consider strategic alternatives, including mergers with more well-endowed academic medical centers (AMCs). Fifth Third’s Healthcare Investment Banking team explores the opportunities for mergers and acquisitions among AMCs and community hospitals: http://go.53.com/6046b3DTC #healthcare

What's New to TheStreet... 🌟 Breaking News: Carlyle Group enters exclusive negotiations to acquire Baxter’s kidney-care spinoff Vantive for over $4 billion, encompassing debt. 💼💰 What are your thoughts on this potential acquisition? Share below! 💬⬇️ 👉🏻Follow New To The Street for more! #carlylegroup #vantive #medicaldevices #acquisition #businessnews #business #news #newtothestreet

PACS Group Inc. Successfully Completes $450 Million IPO - PACS Group Inc., a leading operator of post-acute care facilities, has successfully raised $450 million through its initial public offering, setting the stage for its next phase of growth. The Farmington, Utah-based company sold 21.4 million shares at $21 each, pricing them at the mid-point of its anticipated range and marking a robust investor interest by increasing the number of shares offered from the initially planned 19.05 million. - This pricing values PACS Group at a market capitalization of approximately $3.1 billion, based on the number of outstanding shares listed in its SEC filings. The company's robust growth trajectory and its expansive operation across nine states with over 200 facilities underscore its significant presence in the healthcare sector. Originally founded in 2013 with just two skilled nursing facilities in San Diego, PACS Group has expanded rapidly, highlighting its operational success and market demand for post-acute care services. - Financially, PACS Group has demonstrated strong performance with net income of $112.9 million on revenue of $3.1 billion in 2023, although this reflects a decrease in net income from $150.5 million the previous year, despite the increase in revenue from $2.4 billion. This growth in revenue alongside a decrease in net profit could indicate major reinvestments or increased operational costs which are important factors for potential investors to consider. - The IPO also significantly shifts the ownership structure of the company. Co-founders Jason Murray and Mark Hancock, who previously owned the company outright, sold a substantial portion of their holdings but will retain a combined ownership of 87.2% if the over-allotment option is not exercised. This still represents a considerable controlling stake, ensuring that the founders maintain a major influence over the company’s strategic direction. - The offering, managed by leading financial institutions including Citi, JPMorgan Chase & Co., and Truist, underscores the confidence in PACS Group’s business model and future prospects. The company's shares are set to begin trading on the New York Stock Exchange under the symbol "PACS," providing public investors an opportunity to partake in PACS Group’s ongoing growth. #PACSGroup #IPO #healthcareinvestment #NYSE #publicoffering #healthcareIndustry