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| Acquiring Party | Sun Healthcare Group, Inc. (NASDAQ:SUNH), a provider of long-term, sub-acute and related care services at about 100 facilities in 13 states. |
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| Transferring Party | Harborside Healthcare Corporation, a leading nursing and long-term care company operating 76 facilities in 10 eastern states. |
| Sector | Medical Services |
| Date | April 19, 2007 |
| Analysis After acquiring Peak Medical in Dec. 05 and pruning underperforming businesses and facilities, the Harborside deal helps Sun transform itself after surviving a bankruptcy filing. Harborside's facilities are contiguous in location with Sun's. Deal value -- $350m plus $275m in assumed debt. $12-15m of synergistic expense savings anticipated. Harborside's sales were $544m (1.1x), excluding $91m from acquired companies (full year effect). | |
The Walden Group is a leading healthcare investment banking firm specializing in mergers, acquisitions and strategic transactions. It also invests its own funds and, together with its expert operational partners, provides value-added services to help special companies reach critical milestones. This information is copyright © 2004-2010 The Walden Group, Inc. This information is provided as a service to the public but remains the intellectual property of The Walden Group, Inc and may not be reproduced in any manner without the written permission of The Walden Group, Inc. The information contained in the transactions table was derived from publicly available and other sources. Transaction analysis and other information are based, in part, upon public comments, Walden Group research and judgments, and reporting and research of others. The information is not intended to be relied upon as pronouncements by the transaction participants or for any other reason. | |