This year's second quarter witnessed the third-highest level of merger-and-acquisition activity in the healthcare industry, according to a report by New Canaan, Conn.-based Irving Levin Associates.
The quarterly report, which tracks healthcare transactions, said 270 healthcare deals were publicly announced during the quarter ended June 30. That's up more than 14% compared with the number of deals during the year-ago quarter.
The highest quarterly total of deals occurred during this year's first quarter, when 315 transactions were announced, said Sandy Steever, editor of the report.
Physician groups recorded the most transactions during the second quarter with 62 mergers or acquisitions announced, the report said. That's up from 45 group practice transactions during the second quarter of last year.
Steever said the physician practice management field is maturing and is gaining a lot of attention.
Hospitals posted the second-highest transaction total during the quarter with 51. That's up from 43 in the year-ago quarter.
The only two sectors of the industry to see a decline in mergers and acquisitions were home care and long-term care.
Home-care transactions dropped to 33 during the second quarter compared with 41 during the same year-ago quarter. Long-term-care deals dropped to 22 from 27 in the same period.