M&A Deal Summary

CareCentrix Acquires Turn-Key Health

On May 4, 2020, CareCentrix acquired healthcare services company Turn-Key Health from Consonance Capital Partners

Acquisition Highlights
  • This is CareCentrix’s 2nd transaction in the Healthcare Services sector.
  • This is CareCentrix’s 2nd transaction in the United States.
  • This is CareCentrix’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2020-05-04
Target Turn-Key Health
Sector Healthcare Services
Buyer(s) CareCentrix
Sellers(s) Consonance Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Evercore Group (Financial)
Latham & Watkins (Legal)

Target

Turn-Key Health

Philadelphia, Pennsylvania, United States
Turn-Key Health is a community-based palliative care company serving health plans, hospitals, and physicians. Turn-Key Health is based in Philadelphia, Pennsylvania.

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Buyer(S) 1

Buyer

CareCentrix

Hartford, Connecticut, United States

Category Company
Founded 1996
Sector Healthcare Services
DESCRIPTION

CareCentrix provides specialty benefit management services to health plans, improving quality and reducing costs in several areas of home-based healthcare such as home nursing, home medical equipment, home drug infusion, sleep diagnostic tests and hospital readmissions. CareCentrix was founded in 1996 and is based in Hartford, Connecticut.


DEAL STATS #
Overall 2 of 2
Sector: Healthcare Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Pennsylvania M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-12 Sleep Management Solutions

Charleston, West Virginia, United States

Sleep Management Solutions LLC is specializing in sleep benefits management services.

Buy -

Seller(S) 1

SELLER

Consonance Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Consonance Capital Partners is a healthcare-focused private investment firm focused on both public and private equity investing. The Firm's private equity group targets growth equity, leveraged buyouts, and recapitalization transactions in lower middle-market companies with $25 to $500 million of revenue. Specific areas of interest include healthcare providers, mayors, distribution, medical devices, specialty pharmaceuticals, outsourced services, and healthcare IT. Consonance Capital Partners was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 5 of 6
Sector: Healthcare Services M&A 4 of 5
Type: Add-on Acquisition M&A Deals 4 of 5
State: Pennsylvania M&A 3 of 3
Country: United States M&A 5 of 6
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Enclara Healthcare

Philadelphia, Pennsylvania, United States

Enclara Healthcare is a major solutions provider focused on simplifying care delivery in chronic and complex care patient populations to improve patient experience, quality, and cost. Enclara Healthcare collaborates with healthcare organizations to drive value-based care through expertise, process, and technology.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Surrozen

South San Francisco, California, United States

Surrozen is a biotechnology company discovering and developing drug candidates to selectively modulate the Wnt pathway. Surrozen is developing tissue-specific antibodies designed to engage the body’s existing biological repair mechanisms with potential application across multiple disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system. Surrozen is based in South San Francisco, California.

Buy -