Deals announced in May
Nashville-based PhyCor acquired certain assets of Annapolis, Md.-based Greater Chesapeake Medical Group and entered a long-term service agreement with its 28 physicians. Terms were not disclosed.
State College, Pa.-based EquiMed acquired the oncology practices of Joseph C. Won, Detroit, and Mahdu K. Mohan, Washington, for a total of $4.4 million, including $3.3 million in cash and $1.1 million in notes payable. The practices had 1996 combined net revenues of $4 million, according to EquiMed.
Memphis, Tenn.-based Omega Health Systems acquired Primary Eyecare Network of San Ramon, Calif., for $1.9 million in cash and approximately $1.4 million in stock. Omega reported 1996 revenues of $42.6 million. Primary Eyecare, which provides services to more than 1,000 optometrists, had 1996 revenues of about $36 million, the company said.
Birmingham, Ala.-based Strategic Medical will manage four independent practice associations with 315 physicians in the Dallas/Fort Worth area: CareFirst-Arlington, CareFirst-Fort Worth, CareFirst Johnson County and CareFirst-North East. Financial terms were not disclosed.
Pediatrix Medical Group, Fort Lauderdale, Fla., acquired Carolina Neonatology Associates, which operates a neonatal intensive-care unit in Columbia, S.C. Terms were not disclosed.
Bloomfield, Conn.-based Kelson Physician Partners signed a long-term management services agreement with Tenafly (N.J.) Pediatrics, an eight-physician practices with three locations in the New Jersey counties of Bergen and Passaic. Terms were not disclosed.
Deals announced in April
PhyMatrix, West Palm Beach, Fla., acquired Breathco, Fort Lauderdale, which provides pulmonary physician network services to about 100 physicians in southern Florida. Breathco will serve as a model to build pulmonary physician networks in other markets, PhyMatrix executives said. Terms were not disclosed.
MedPartners, Birmingham, affiliated with Northeast OB-GYN Associates and Southeast OB-GYN Associates, both in San Antonio, with a total of nine physicians. Terms were not disclosed.
Fort Worth, Texas-based ProMedCo Management Co. affiliated with Naples (Fla.) Medical Center, a 36-physician practice that recently combined with Naples Obstetrics and Gynecology. Terms were not disclosed.
Lakewood, Colo.-based Specialty Care Network entered an agreement to acquire the assets of Orthopaedic and Sports Medicine Center, a nine-physician practice in Annapolis, Md., for stock and $4.1 million in cash.
OrthoLink Physicians Corp., Nashville, merged with Resurgens Orthopaedics, an 18-physician practice in Atlanta. Terms were not disclosed.
Advanced Health Corp., Tarrytown, N.Y., signed a long-term management contract with Cardiology Care Specialists, a network of 90 cardiologists in eastern Pennsylvania. Terms were not disclosed.
Pediatrix completed acquisitions of Foothill Medical Group, Pasadena, Calif.; NeoFirst, South Bend, Ind.; and Neonatal Associates, Tacoma, Wash. Each operates two neonatal intensive-care units. Terms were not disclosed.
Pediatric Physician Alliance, Atlanta, signed letters of intent to affiliate with Interlachen Pediatrics in Orlando, Fla.; Pediatric Associates of Dayton (Ohio); and Littleton (Colo.) Pediatric Medical Center, which has offices in Littleton and Highlands Ranch, Colo. Terms were not disclosed.
Deals announced in March
Advanced Health added eight physicians to its Millennium Medical multispecialty group, bringing the total to 31. It also added 13 cardiologists to its Mid-Atlantic Cardiology, for a total of 33. Both groups are in northern New Jersey. In addition, the company signed a contract to provide management and information technology services to New York Cardiology Network, a 230-physician network covering greater New York City, and the six-physician Flatbush Medical Group in Brooklyn, N.Y. Financial terms were not disclosed.
Omega acquired the assets of an ophthalmology practice in Birmingham for stock and $859,500. The practice, owned by Sarah Hays, M.D., consists of one ophthalmologist and one optometrist. Omega said the transaction will be accounted for as a pooling of interests. Omega also agreed to acquire the assets of ophthalmology practices in Chicago and Wisconsin but did not disclose terms.
Dallas-based OccuSystems acquired Associated Industrial Clinic in Newark, N.J., and Occupational Medical Specialists in Madison, Wis., for an undisclosed amount of cash and stock. OccuSystems also opened centers in the Baltimore and Houston markets and in Fort Collins, Colo.
PhyMatrix agreed to merge with Clinical Studies of Providence, R.I., which conducts independent clinical trials for the biopharmaceutical industry.
Reston, Va.-based PHP Healthcare Corp. and Louisiana Medical Mutual Insurance Co., Baton Rouge, agreed to establish an integrated system of care and a physician management company in Louisiana. The insurer will provide up to $7 million in capital, with hospital partners offering additional capital. PHP will provide information systems and management oversight.