NaviHealth Deal Focuses on Seniors

NaviHealth Deal Focuses on Seniors

It’s been a few years, four to be exact, since NaviHealth announced an acquisition. The silence was broken in late February, when it acquired Innovative Healthcare Delivery (IHD). The deal is part of NaviHealth’s mission to extend non-clinical services into seniors homes. Financial terms were not disclosed. IHD, based in Henderson, Nevada, specializes in identifying and addressing social determinants of health to improve quality of life and clinical outcomes for patients. It delivers a high-touch, patient-centric and non-clinical approach that is paired with proprietary workflow and patient engagement technology to address barriers and improve efficiences to get the right care... Read More »
Amazon Scoops Up PillPack for $1 Billion

Amazon Scoops Up PillPack for $1 Billion

Amazon (NASDAQ: AMZN) finally took the plunge into the pharmaceutical market with its approximately $1 billion acquisition of five-year-old PillPack, an online pharmacy startup based in Manchester, New Hampshire. Financial terms weren’t disclosed in the deal’s announcement, but on June 28, the day of the announcement, The Wall Street Journal quoted sources on the price. In April 2018, Walmart (NYSE: WMT) was reported to be in discussions with PillPack, and targeting a price under $1 billion, according to CNBC. Amazon was also said to be holding  discussions with the company at the time. PillPack is an online pharmacy that delivers medications in pre-sorted dose packaging and... Read More »
Cardinal Health Sells Majority Stake in NaviHealth

Cardinal Health Sells Majority Stake in NaviHealth

Cardinal Health (NYSE: CAH) does a lot of business with private equity firms, but usually as an acquirer, not a seller. In August 2015, Cardinal acquired NaviHealth from Welsh, Carson, Anderson & Stowe for $290 million. In June 2018, it sold a 55% stake in NaviHealth to Clayton, Dublier & Rice for an undisclosed amount. Cardinal’s initial stake was just 71% in 2015, but it added another 17% share in 2017 for $103 million. It will retain an approximately 45% interest in the company, and will have a call right to reacquire the business. The company said it would realize proceeds of $650 million after tax. Back in 2015, NaviHealth offered software and analytics products to help... Read More »
Cardinal Health Sheds its China Operations

Cardinal Health Sheds its China Operations

Cardinal Health Inc. (NYSE: CAH) put its Cardinal Health China business up for sale in July of this year, following concerns that upcoming drug distribution reform could threaten the company’s growth. Cardinal’s China business is the eighth largest drug distributor in the country, operating 14 direct sales units and 17 distribution centers that cover 322 cities and 11,000 medical institutions. The bidding process was very competitive, according to Reuters, and names like Warburg Pincus were rumored to have competed in the final rounds, among other private equity and Chinese pharmaceutical bidders. On November 14th, Cardinal Health announced that Shanghai Pharmaceuticals Holding Co., Ltd.... Read More »

Medical Device Sector Is Most Active in H1:17

The Medical Device sector has been humming. Granted, it comprises a huge range of things, from hip and knee joints to cardiovascular devices. Since 2016, 176 deals have been announced, and $102 billion has been committed based on 73 disclosed prices. Among the 176 deals, 14 target companies specialize in cardiovascular devices, 14 specialize in orthopedic and spine devices, 10 specialize in aesthetic devices each, and eight specialize in vascular devices, to name a few. The most recent deal, on July 10, was of a company that covered a very interesting niche of medical devices. ThermoGenesis Corp., a wholly-owned subsidiary of Cesca Therapeutics Inc., (NASDAQ: KOOL) acquired privately held... Read More »