Long-term care (LTC) facility companies were in a mood to shop in the first quarter.
Analysts at PricewaterhouseCoopers reported that post-acute care companies announced 68 deals with a total announced value of $5.5 billion in the quarter, up from fewer than 50 deals with a value considerably less than $5 billion in the first quarter of 2013.
The firm includes LTC facility companies, home health care companies and rehabilitation services providers in the post-acute care category.
Home health and rehab company dealmaking got off to a slow start, the analysts say.
The biggest buyer was Brookdale Senior Living Inc. In February, Brookdale agreed to acquire Emeritus Corp.