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Our Advisors Have the Specific Experience You Need When Hiring a Transaction Advisor
Whether you are looking to expand horizontally or vertically, Kaufman Hall's M&A team brings its expertise from hundreds of transactions to help you understand, structure, negotiate, and optimize your opportunities.
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has signed a letter of intent to partner with
Client
Memorial Hospital and Health Care Center
Counter-Party
Deaconess
Engagement Type
Change of Corporate Member
has entered into a definitive agreement to acquire
and
subsidiaries of
Client
Novant Health
Counter-Party
Community Health Systems
Engagement Type
Acquisition
has entered into a definitive agreement to acquire
a subsidiary of
Client
Vandalia Health
Counter-Party
Community Health Systems
Engagement Type
Acquisition
and its sponsor
to acquire the Utah portfolio of
Client
Centura Health / CommonSpirit Health
Counter-Party
Steward Health Care System
Engagement Type
Acquisition
has entered into a definitive agreement with
Client
Sparrow Health System
Counter-Party
University of Michigan Health
Engagement Type
Change of Corporate Member
has been acquired by
a portfolio company of
Client
CNY Diagnostic Imaging Associates
Counter-Party
Rezolut & Sunny River Management
Engagement Type
Acquisition
has acquired select assets of the outreach laboratory services business from
Client
Summa Health
Counter-Party
Quest Diagnostics
Engagement Type
Acquisition
has entered into a definitive agreement to acquire
a subsidiary of
Client
Vandalia Health
Counter-Party
Community Health Systems
Engagement Type
Acquisition
has entered into a definitive agreement to partner with
Client
Exeter Health Resources
Counter-Party
Beth Israel Lahey Health
Engagement Type
Change of Corporate Member
has been acquired by
a portfolio company of Hildred Capital Management
Client
Berman Skin Institute
Counter-Party
DermCare Management
Engagement Type
Acquisition
has sold its two skilled nursing facilities to
Client
Virtua Health
Counter-Party
Tryko Partners (Marquis Health Services)
Engagement Type
Acquisition
has signed Definitive Agreements to acquire St. Francis Medical Center from
Client
Capital Health System
Counter-Party
Trinity Health
Engagement Type
Acquisition
has sold its outreach lab and has partnered on inpatient/outpatient lab with
Client
North Memorial Health
Counter-Party
LabCorp
Engagement Type
Acquisition
has transferred its membership interest to
Client
University Health Care System
Counter-Party
Piedmont Healthcare
Engagement Type
Change of Corporate Member
has acquired
Client
Bryan Health Partners
Counter-Party
Kearney Regional Medical Center
Engagement Type
Acquisition
has acquired a majority interest in
Client
Medica
Counter-Party
SSM Health
Engagement Type
Acquisition
has acquired
Client
Altais Clinical Services
Counter-Party
Family Care Specialists Medical Corporation
Engagement Type
Acquisition
has entered into a Technical Services Agreement for Laboratory Services with
Client
University of Miami
Counter-Party
LabCorp
Engagement Type
Management Services Agreement
has been acquired by
Client
LRGHealthcare
Counter-Party
Concord Hospital
Engagement Type
Acquisition
has been acquired by
Client
Michigan Urgent Care
Counter-Party
NextCare
Engagement Type
Acquisition
has entered into a strategic partnership with
Client
Coastal Medical
Counter-Party
Lifespan Health System
Engagement Type
Affiliation
has transferred its membership interest to
Client
Northwest Community Healthcare
Counter-Party
NorthShore University HealthSystem
Engagement Type
Change of Corporate Member
has transferred its membership interest to
Client
Lake Health
Counter-Party
University Hospitals
Engagement Type
Change of Corporate Member
has transferred its membership interest to
Client
King's Daughter's Health
Counter-Party
Norton Healthcare
Engagement Type
Change of Corporate Member
has transferred its membership interest to
Client
Huntington Hospital
Counter-Party
Cedars-Sinai
Engagement Type
Affiliation
has divested two hospitals to
Client
Advocate Aurora Health
Counter-Party
Carle Health System
Engagement Type
Acquisition
has divested Riverside Tappahannock Hospital to
Client
Riverside Health System
Counter-Party
VCU Health
Engagement Type
Acquisition
has signed a definitive agreement to partner with
Client
Saint Peter’s Healthcare System
Counter-Party
RWJ Barnabas
Engagement Type
Change of Corporate Member
has affiliated with
Client
Altais
Counter-Party
Brown & Toland Physicians
Engagement Type
Acquisition
has acquired the assets of
Client
Reid Health
Counter-Party
Fayette Regional Health System Assets
Engagement Type
Acquisition
has acquired Lourdes Health System from
Client
Virtua Health
Counter-Party
Lourdes Health System
Engagement Type
Acquisition
has acquired Hospice and Home Health Assets from
Client
Journeycare
Counter-Party
Northwestern Memorial HealthCare
Engagement Type
Acquisition
Who We Are and Who We Serve
How We Help
Our M&A team helps structure innovative transactions that address our clients' strategic initiatives, grow their business, facilitate entry into new markets, or enhance their product and service offerings.
Sell-side Services
Our sell-side approach pairs in-depth, deal-specific experience with an appreciation that each client's journey is unique. We recognize that each organization defines success differently. That's why the first question we always ask is, "What are your goals?"
We'll coordinate the solicitation process, develop key terms, coordinate due diligence, and lead negotiation of definitive agreements. Our deep and diverse experience in M&A and strategic partnerships sets us apart from our competitors and allows us to address any issue that arises and rigorously defend the interests of our clients. As appropriate, we also have access to numerous other Kaufman Hall executives whose expertise in other disciplines can inform the transaction decision.
Facilitated Partnerships
Our team has unparalleled business intelligence and insights in the healthcare space--enabling us to function as true thought partners with our clients. Working with our clients and their partners, we design and support a transaction process that focuses on development of business rationale, confirmation of strategic benefit, structuring of the transaction, and construction of the partnership agreements. In facilitated discussions, our team often acts as the lead, working collaboratively with the parties in the transaction to evaluate and successfully complete the partnership. At each step, our focus is your strategic interests, compatibility of cultures, and a vision for how the partnership will function.
Buy-side Services
We provide expert transaction advisory solutions specific to your needs as you seek to partner with or acquire another organization. We help our clients assess the strategic and financial impact of a potential opportunity and determine the right form and structure for a transaction, because we've been there before.
This approach empowers you to assess whether a potential partner is the right fit and enables you to make a competitive offer. Our tailored, client-based approach ensures we aggressively represent your best interests at all times.
Affiliations and Joint Ventures
Creative affiliations and joint ventures play a larger role in meeting the strategic needs and financial demands of healthcare organizations. Our tailored approach is to provide objective advice, the best possible information, and a strategic advantage in decision-making. And we can do this because we have deep experience in these types of deals. We combine M&A, financial and capital planning, and corporate finance advisory to bring a breadth of capabilities, expertience, and an unparalleled depth of healthcare industry knowledge to these transactions, giving our clients a leg up at the negotiation table.
Clients We Advise
We are the most active M&A advisor in the healthcare industry.
Our experience spans the healthcare industry, including hospitals and health systems, physician groups, specialty provider organizations, health plans, and private equity and venture capital firms. This unparalleled experience gives our clients an advantage when exploring and implementing strategic partnerships and M&A transactions.
Large Health Systems
We advise large health systems, including leading national organizations, regional organizations spanning multiple markets and states, and leading local health systems.
Academic Medical Centers
We advise academic medical centers with multifaceted operations that often include the tripartite mission of delivering healthcare services, providing medical education and training, and leading clinical research.
Community Hospitals
We advise community hospitals ranging from multisite facilities to single hospital locations, including:
- Sole Community Providers
- Safety Net Hospitals
- Urban and Suburban Hospitals
- Rural Hospitals
- Critical Access Hospitals
Religious Sponsored Hospitals & Systems
We advise mission-driven, religious-sponsored hospitals & health systems operating across multiple regions or in a single facility or market.
Other Diverse Healthcare Service Providers and Sponsors
We advise a diverse array of organizations in the healthcare space, including:
- Physicians and Physician Groups
- Homecare, Hospice, and Post-Acute Services
- ASCs, Specialty, and Outpatient Surgery
- Laboratory and Diagnostic Services
- Health Plans and Managed Care Organizations
- Financial Sponsors and Lenders
Sectors We Serve
Our Experience: Our experience with physician groups ranges from primary care organizations to single-specialty practices to multispecialty and accountable care organizations and groups.
Understanding the Situation: We have extensive experience in structuring optimized partnership strategies that enable physician practices to generate new revenue, recruit and retain new providers, increase scale, and manage costs to compete more effectively and deliver the best care to patients.
Changes to traditional delivery models present new opportunities for multispecialty and specialty physician groups to use partnerships in achieving their strategic and financial goals.
Physicians and Physician Groups
An optimized partnership strategy can enable physician practices to generate new revenue, recruit/retain providers, increase scale, and manage costs to compete more effectively and deliver the best care to patients. Changes in the traditional model of healthcare delivery for physicians present new opportunities for multispecialty and specialty physician groups to use partnerships in achieving their strategic and financial goals.
Our experience with physician groups spans from primary-focused to single-specialty practices, as well as multispecialty and accountable care organizations and groups.
Homecare, Hospice and Post-Acute Services
Our Experience: We understand the unique dynamics of the post-acute sector and have the expertise and experience to develop optimal partnerships, including fully integrated solutions like buying or selling, as well as affiliations with strategic or financial partners.
Understanding the Situation: We understand the impact of major industry trends--including the shift to value-based payment models and growth in alternative on-premise and virtual sites of care and new care delivery models--on post-acute care. Our insights help shape how we partner with clients in this sector.
ASCs, Specialty and Outpatient Surgery
Our Experience: We have deep experience advising independent, physician-owned, and system-affiliated organizations on a broad range of strategic options and transaction structures.
Understanding the Situation: With this experience, we know that finding the right setting for elective surgeries is essential to delivering optimal clinical outcomes in a cost-effective manner across multiple specialties. We help our clients find the right option that is best for their patients and their organization's culture.
Laboratory and Diagnostic Services
Our Experience: We work with hospital-based and independent labs across the country to assess their market positions and determine the optimal transaction strategy.
Understanding the Situation: The clinical lab industry is increasingly challenged by escalating costs, disruptive innovation, and the need for scale. In-reach/outreach platforms launched at health systems across the country historically enjoyed healthy margins, but lower volumes, lower rates, and cost structure impacts threaten those margins. These trends will lead to continued consolidation and partnerships for laboratory and diagnostic services providers as organizations explore sales, partnerships, and other affiliations as a way to scale up and become more competitive.
Health Plans and Managed Care
Our Experience: We work with health plans and managed care organizations seeking to develop new products or expand into new markets. Our experience also includes provider partnerships that can enhance member offerings and growth to improve health outcomes and reduce costs.
Understanding the Situation: We factor in the ongoing shift to value-based care, as well as the ability to improve population health management through new and innovative risk-based partnerships.
Hospitals and Health Systems
Our Experience: We are the top strategic advisor to health systems seeking partnerships, mergers, acquisitions, and divestures. We lead large and often complicated mergers and combinations, developing acquisition growth strategies and advising on divestures of existing business units or service lines.
We are the most active advisor to community hospitals seeking to strengthen their market position through partnerships and M&A transactions--implementing growth strategies, organizing systems of care, structuring focused service line and business unit collaborations, and facilitating discussions with financial and strategic partners.
Understanding the Situation: Evolving delivery models, changes to the payment, regulatory, and policy environment, and the focus on delivering value while optimizing volume shape the transaction landscape and inform how our team crafts tailored strategies for our hospital and health system clients.
The Most Active and Experienced Team of Advisors
Our reputation is built on achieving exceptional outcomes for you.
Our strategic advisors are skilled in sell-side, buy-side, facilitated partnerships, provider affiliations, and joint ventures across the full range of organizations in the healthcare transaction landscape.
With our deep and diverse experience, we understand that each of our clients has unique goals and definitions of success and we center these at the start of all our relationships. With these factors at the forefront, we are able to craft the right approach to partnership for each and every one of our clients.
Anu Singh leads the firm’s Partnerships, Mergers, and Acquisitions practice, with nearly 30 years of experience as a trusted advisor to top executives and boards nationwide.
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Courtney Midanek provides partnership advisory services for a variety of healthcare clients in both acute and non-acute care.
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Kris Blohm counsels executives and boards nationwide on a broad range of transactions, including mergers, acquisitions, divestitures, joint ventures, strategic investments, as well as other partnership and affiliation structures.
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David Cyganowski focuses on supporting healthcare delivery systems in large-scale strategic transformations that position them as leaders in the new healthcare ecosystem.
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Ryan Freel advises healthcare leaders nationwide. His areas of expertise span capital markets transactions, mergers and acquisitions, strategic and financial planning engagements, and enterprise risk management.
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Jody Hill-Mischel is an expert counsel to healthcare leaders in the areas of treasury and capital markets, strategic financial and capital planning, strategic options assessment, divestitures, and mergers, acquisitions, and other partnership arrangements.
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Nora Kelly advises healthcare leaders nationwide on strategic financial planning, capital allocation, debt-related financial management, and mergers and acquisitions.
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Andrew Majka focuses on helping organizations develop and execute competitive strategies within the context of strengthening mission, ensuring market relevance, optimizing credit ratings, and enhancing capital access.
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Nick Bidwell is a Senior Vice President of Kaufman Hall and a member of the firm’s Partnerships, Mergers and Acquisitions practice. His responsibilities include transaction management, valuation and financial modeling, and overall financial and strategic advisory.
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Nick Gialessas is a Senior Vice President at Kaufman Hall and a member of the firm’s Mergers and Acquisitions practice. Focused on providing merger and acquisition advisory services to healthcare organizations including health systems, physician practices, laboratory services, managed care companies and other non-acute businesses.
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Adnan Qureshi is a Senior Vice President with the Mergers and Acquisitions practice at Kaufman Hall. He provides merger, acquisition, joint venture, and other strategic advisory services for healthcare clients.
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Matt Robbins provides partnership and financial advisory services for a broad range of healthcare clients engaged in various types of transactions, such as borrowings, debt restructurings, derivatives, mergers, acquisitions, and joint ventures.
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Richard Rollo is a leader in Kaufman Hall’s Partnerships, Mergers, and Acquisitions practice. In addition to extensive M&A experience, his areas of expertise include strategic planning, governance, financial restructuring, transition and integration planning, and financial analytics.
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Tim Shoger assists clients in identifying, developing, and implementing sustainable improvement solutions.
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Forrest Sylvester is a Vice President with the Mergers and Acquisitions practice of Kaufman Hall. He works with a variety of healthcare clients, providing merger, acquisition, and other strategic advisory services for both sell-side and buy-side transactions.
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James Tompkins is a Senior Vice President in Kaufman Hall's Mergers and Acquisitions practice. He works with healthcare clients on a broad range of strategic transactions and partnerships, including mergers, acquisitions, divestitures, joint ventures, and a variety of other affiliations and collaborations.
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