TearLab Corporation Goes Private with Accelmed
Deal making hasn’t shut down entirely. The technology healthcare sectors are still attracting investors. The most recent is TearLab Corporation’s (OTCQB: TEAR) acquisition by Accelmed Partners, New York City-based group of funds investing in health tech companies in the medical device, diagnostics, and digital health areas. TearLab develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve the standard of care by testing for disease biomarkers in tears at the point of care. The TearLab Osmolarity Test, to aid in the diagnosis of Dry Eye Disease, is the first assay developed for the TearLab Osmolarity System. In connection with the acquisition,... Read More »
Novartis Enters the Game With Ubisoft
Last week, an unusual partnership in the health care M&A space hit the headlines. Novartis AG (NYSE: NVS), the global pharmaceutical company, bought Amblyotech, Inc., a software startup that, in collaboration with Ubisoft (OTCMKTS: UBSFF) and McGill University, is developing digital technology for the treatment of amblyopia (lazy eye), a leading cause of vision loss. Ubisoft is a major player in the video game industry and not a company we expected to be treading in the health care market. It owns several development studios worldwide and publishes multiple major video game franchises. Amblyotech uses active gaming and passive video technology with 3-D glasses, training the eyes to... Read More »
Big Pharma Is Back in the Headlines
It looks like some big pharma companies want to get their holiday shopping done early this year. Two transactions with values north of $1 billion were announced in late November, stimulating a sector that’s been relatively quiet the past few months. The first might not come as a surprise since it’s been circling the rumor mill for some time. Novartis AG (NYSE: NVS) announced the acquisition of The Medicines Company (NASDAQ: MDCO) for $9.7 billion, or $85 per share. The deal value is comprised of a 24% premium over MDCO’s November 22, 2019 closing price of $68.55, as well as the company’s outstanding stock options and convertible debt. MDCO is focused on treating... Read More »
October 2018 Healthcare Deal Spending Breaks Even
Spending on healthcare deals in the month of October didn’t match the surge in deal volume (see separate post). At $9.4 billion, October 2018 posted a slight 4% gain over September, but was 25% lower than the $12.6 billion spent in October 2017. Of course, we can only go by disclosed prices, and several transactions that did not disclose financial terms would probably boost the month’s total by at least a few billion dollars. H.I.G. Capital’s acquisition of Correct Care Solutions, is a case in point. Co-owners Audax, GTCR and Frazier Healthcare sold Correct Care, which provides medical and behavioral health services for nearly 250,000 patients in 38 U.S. states and in Australia. Only... Read More »Schedule a demo
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