The long-term care sector continued its domination of health-care deals in February, Bloomberg Law’s transactions advisory board says.
Thirty-two long-term care transactions were announced or closed during the second month of the year, double the number that took place in the next-closest sector, health-care information technology, a list compiled for Bloomberg Law by investment bankers ECG Management Consultants and Provident Healthcare Partners LLC shows.
With 61 total long-term care transactions on the year-to-date list, the sector’s off to a strong start in 2019, Hector M. Torres told Bloomberg Law. Torres is a principal at ECG in Chicago.
Private equity investors played a big role in February’s long-term care sector activity, Torres said. Over one-third of the month’s transactions involved private equity firms.
Genesis Healthcare, for example, partnered up with Next Healthcare Capital to complete the sector’s biggest deal. The company acquired the real estate of 15 skilled nursing facilities from Welltower Inc. for $204 million, ECG senior manager Aaron T. Newman told Bloomberg Law.
Hector Torres and Aaron Newman are members of Bloomberg Law’s Health Care Transactions Editorial Committee and contributors to the monthly column.
Reproduced with permission from Copyright 2019. The Bureau of National Affairs, Inc. (800-372-1033).