PE Firms Are Big on Dermatology

by | May 24, 2016 1:38 pm | Other Services, Private Equity

Dermatology deals are popping up like, well, you can imagine. Five acquisitions have been announced in May 2016 alone, bringing this year’s total dermatology deals to nine, and equal to the number announced in all of 2014.  Those nine deals put this year on track to surpass 2015’s total of 11 deals. Private equity firms or their portfolio companies are by far the busiest players buying up dermatology clinics, accounting for 88% of acquisitions in this space since 2014. Finding a decent-size platform is a tough task in health care these days, as panelists at a recent health care deal summit noted. Outpatient physical therapy, behavioral health care, anesthesia practices are all in play. But... Read More »

Recent Health Care Deals, week ending 05.20.2016

by | May 23, 2016 8:00 am | Healthcare Market Updates

AcquirerTargetPrice Pfizer Inc. Anacor Pharmaceuticals, Inc. $5.2 billion Medtronic plcSmith & Nephew's gynecology business$350 million Welsh, Carson, Anderson & StoweInnovAge$196 million Magellan Health, Inc.Armed Forces Services Corporation$117.5 million Blue Wolf CapitalNational Home Health Care Corp.$103 million Aedifica SASaksen Weimar Care Residence$9.02 million... Read More »

Medtronic’s Surgical Strikes

by | May 20, 2016 8:00 am | Medical Devices

The Irish medical device maker Medtronic plc (NYSE: MDT) announced two strategic investments on May 18. The first wasn’t an acquisition, but could be a precursor to one. The company agreed to buy 15  next-generation robotic spinal systems from Israel-based Mazor Robotics Ltd. In addition, Medtronic will purchase newly issued securities representing 4% of Mazor’s outstanding shares for $11.9 million, and will have the opportunity to buy another 6%, plus a further 5%, in future allotments. The two companies together will promote Mazor’s spinal system, which helps surgeons plan and execute surgeries. If the initial phase of the agreement meets expectations by the end of... Read More »

Pfizer: We’re So Over Allergan

by | May 19, 2016 8:00 am | Pharmaceuticals

Within hours after Pfizer (NYSE: PFE) and Allergan plc (NYSE: AGN) called off their $160 billion merger on April 26, 2016, Allergan announced a new acquisition. It’s taken a few weeks, but Pfizer is finally moving on. Anacor Pharmaceuticals, Inc. (NASDAQ: ANAC) is the target, based in Palo Alto, California. Anacor Pharmaceuticals focuses on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. Its flagship asset is crisaborole, a differentiated non-steroidal toipcal PDE4 inhibitor with anti-inflammatory properties. Its currently under review by the FDA for the treatment of mild-to-moderate atopic dermatitis, also... Read More »

Mylan Adds Topical Pharmaceuticals Business

by | May 18, 2016 8:04 am | Pharmaceuticals, Private Equity

Mylan NV (NASDAQ: MYL) still has money to spend, following its $9.9 billion deal for Swedish drug maker Meda AB in February. On Friday, May 13, RoundTable Healthcare Partners announced that its portfolio company, Renaissance Acquisition Holdings, LLC, had agreed to sell its non-sterile topical drug business to Mylan for $950 million, plus additional contingent payments of up to $50 million. The topical division is a specialty pharmaceutical business focused on manufacturing, developing, sales and marketing of branded and generic drug products. The acquisition brings a complementary portfolio of approximately 25 branded and generic topical products, an active pipeline of approximately 25... Read More »