The long-term care subsector had the most merger and acquisition deals among all healthcare subsectors in the second quarter, continuing a trend that has been observed since at least 2014, according to a new report from PwC.
The subsector had 114 deals out of a total of 281 healthcare deals; the number represented 41% of deal volume in the quarter but was down 3% year over year, according to the report. By value, the subsector’s $4.2 billion in deals accounted for 28% of healthcare deals in the quarter, down 36% year over year. The only subsector to top long-term care in total deal value was “other services,” where $5.8 billion in deals accounted for 38% of deals by value in healthcare.
There were a total of $15 billion in healthcare deals during the quarter, according to the report. The “notable” corporate transaction in long-term care was real estate investment trust Ventas’ June announcement of its plan to acquire 31 independent living communities, plus four in progress, in the Quebec market by investing through an 85% / 15% equity partnership with Le Groupe Maurice, PwC said.
Additional healthcare subsectors in the report include behavioral healthcare, rehabilitation, managed care, home healthcare, labs / MRI / dialysis, hospitals and physician medical groups.
PwC said it used data from Deal Search Online and Health Care M&A News.