Deal(s) of the Week: Teva, Take Two

Deal(s) of the Week: Teva, Take Two

by | Sep 21, 2017 7:14 pm | Pharmaceuticals, Private Equity

Debt has been a key deal driver this year, particularly in the hospital sector, where Community Health Systems (NYSE: CYH), Quorum Health Corporation (NYSE: QHC) and Tenet Healthcare (NYSE: THC) are shedding less desirable assets. Joining them now is generic drug maker Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), which is shouldering $35 billion of debt brought on by its $40.5 billion acquisition of Allergan’s (NYSE: AGN) line of generics, announced in July 2015. The company hasn’t announced an acquisition since September 2016. What a difference a year makes, as generic drug prices have been squeezed and the company has been selling off non-core assets to pay down its... Read More »
Tenet Healthcare Sheds its Health Plan Business

Tenet Healthcare Sheds its Health Plan Business

by | Jun 2, 2017 7:09 pm | Managed Care, Private Equity

A recent Managed Care deal may portend more troubling news for the struggling industry. Lately, mergers and acquisitions in the sector have been driven by firms exiting the market due to rising costs. Even a network as large as Tenet Healthcare Corporation (NYSE: THC) cited rising costs and unanticipated losses as reasons for shedding its Health Plan Business. On June 1, 2017, Tenet Healthcare Corporation announced it was selling the Medicare Advantage and commercial group membership assets of its subsidiary, Allegian Health Plan, to Blue Cross and Blue Shield of Texas. The transaction includes nearly 20,000 members, enrolled through small, medium... Read More »