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Health care mergers and acquisitions slowed a bit over the summer, but the industry still has kept bankers and consultants busy since the Affordable Care Act went into effect. The health care industry has initiated more than 200 deals per quarter for 12 straight quarters, including 211 in the third quarter of 2017, according to a report from PwC.

Expand chart
Reproduced from PwC Q3 2017 health services deals report; Data: healthcareMandA.com

The value of all the health care transactions in the third quarter was about $17.4 billion, led by the $3.75 billion deal between health insurers Centene and Fidelis Care. That total was down from almost $50 billion in the second quarter, an anomaly that had a slew of large-scale buyouts such as the $9 billion minority stake selloff of drug research firm PPD.

  • A third of the health care deals in the third quarter involved long-term-care facilities, like nursing homes.
  • Buyers are paying more for most health care companies, especially labs and imaging centers.
  • Many other mergers were initiated in the third quarter but did not have disclosed deal values.
  • Thad Kresho, who tracks health care deals for PwC, expects even more transactions by the end of the year, partially due to increasing interest by private equity investors.

Go deeper

Sen. Sheldon Whitehouse under scrutiny for elite club affiliations

Sen. Sheldon Whitehouse during a Senate hearing on Capitol Hill in February. Photo: Susan Walsh-Pool/Getty Image

Sen. Sheldon Whitehouse (D-R.I.) said in a statement Wednesday that he is a member of an exclusive Rhode Island sailing club that lacks diversity.

Why it matters: Whitehouse has repeatedly spoken out against systemic racism and come under scrutiny this week for his family's affiliation with elite clubs. This is the second such club accused of lacking diversity that the senator has been linked to in recent days

2 hours ago - Politics & Policy

Scoop: Border Democrats want migrants vaccinated

Rep. Filemon Vela (D-Tex.) Photo: Chip Somodevilla/Getty Images

Some Democrats representing border districts want President Biden to vaccinate migrants crossing into the U.S. — especially if he lifts public health restrictions that have prevented them from claiming asylum on American soil.

Why it matters: Inoculating migrants treads a fine line of protecting the U.S. population while possibly incentivizing more migration with the offer of free COVID-19 vaccines. Republicans are likely to pounce on that.

2 hours ago - World

State Dept. fears Chinese threats to labor auditors

A space for media is designated by Chinese authorities near a mosque in the Xinjiang region of China. Photo: Greg Baker/AFP via Getty Images

The State Department is concerned organizations performing supply-chain audits in China are coming under pressure from Chinese authorities.

Why it matters: U.S. law prohibits importing products made through forced labor, but it's becoming increasingly difficult to verify whether products from China are tainted.