MindMed Acquires HealthMode
MindMed (OTCQB: MMEDF), a New York City-based biotechnology company, is expanding its platform with a new deal. Last week, the company announced it is acquiring HealthMode, a digital medicine and therapeutics startup that uses artificial intelligence-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. MindMed will issue 8,250,836 subordinate voting shares at the Feb. 17, 2021 closing price of CAD 5.13, plus approx. CAD 300,000 in cash. Based on the conversion rate from February 18, 2021, the price comes out to approximately U.S. $33.67 million. The acquisition of Healthmode is expected to close by the end of February 2021. MindMed is... Read More »
Humacyte Goes Public Via SPAC
Humacyte, Inc. announced last week it is merging with Alpha Healthcare Acquisition Corp. (NASDAQ: AHAC), a special purpose acquisition company (SPAC). Shareholders of Humacyte will get an aggregate of 80 million shares of AHAC’s common stock, or roughly $800 million. Humacyte is a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue on a commercial scale. The company develops and manufactures acellular tissues to treat a wide range of diseases, injuries and chronic conditions. Humacyte’s initial opportunity, a portfolio of human acellular vessels (HAVs), is currently in late-stage clinical trials targeting multiple vascular... Read More »
Charter Health Care Adds Two Omaha Agencies
Charter Health Care Group, a portfolio company of Pharos Capital Group, announced a deal for two agencies in Omaha, Nebraska last week. It purchased Physmed Home Health Care and Serene Care Hospice, two sister companies, for an undisclosed sum. Physmed Home Health Care was founded in 2003 and specializes in geriatric care, providing physical therapy, occupational therapy and speech therapy, as well as social work and dietician services plus a wide array of skilled nursing assistance. Serene Care, founded in 2013, provides comprehensive end-of-life care in the home. The company offers services such as nursing, spiritual care, bereavement, social work and other specialty care... Read More »
Charles River Laboratories Acquires Cognate BioServices
Charles River Laboratories International, Inc. (NYSE: CRL) is significantly boosting its capabilities with a new acquisition. The research giant is buying Cognate BioServices, Inc. from EW Healthcare Partners for $875 million. The acquisition and associated fees are expected to be financed through Charles River’s existing credit facility and cash. Cognate BioServices is a cell and gene therapy contract development and manufacturing organization (CDMO). The company has extensive experience producing various cell types and technologies used in cellular immunotherapy and immuno-oncology, regenerative medicine, and advanced cell therapy. Cognate BioServices’ minority shareholders include... Read More » Health Care M&A Deals, February 12, 2021
The Health Care M&A deals chart is a selection of transactions announced during the prior week(s). The M&A transactions presented here are from our HealthCareMandA.com Deal Database, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. The largest deal of the week by disclosed price is Sharecare, Inc.’s reverse merger with Falcon Capital Acquisition Corp., a special purpose acquisition company, valued at $3.9 billion. Sharecare provides an online health and wellness engagement platform that gives consumers a personal results-oriented experience by connecting them to health resources... Read More »
Sharecare Is Going Public
Last week Sharecare, Inc. announced it was going public in a reverse merger with Falcon Capital Acquisition Corp. (NASDAQ: FCAC), a special purpose acquisition company (SPAC). Sharecare provides an online health and wellness engagement platform that gives consumers a personal results-oriented experience by connecting them to health resources and programs. Falcon Capital is in an investment partnership with Eagle Equity Partners. The deal is valued at $3.9 billion and is expected to be funded through a combination of Falcon’s $345 million of cash in trust supported by a $425 million PIPE at $10.00 per share. Sharecare will have approximately $400 million on its balance sheet to fund growth... Read More »
The Emily Program and Veritas Collaborative Merge
Two major behavioral health care companies are merging, creating a national network of treatment facilities focused on treating patients with eating disorders. The Emily Program, one of the largest eating disorder treatment programs in the U.S. and an affiliate of the University of Minnesota Medical School, is acquiring Veritas Collaborative, LLC from Vestar Capital Partners. Terms of the deal were not disclosed. Veritas Collaborative is a national healthcare system for the treatment of eating disorders, with locations in Georgia, North Carolina and Virginia. Veritas provides a full continuum of care for individuals of all ages, including inpatient, acute residential, partial... Read More »
NeuPath Health Makes Moves to Expand
The Canadian-based NeuPath Health Inc. (TSXV:NPTH) is entering the healthcare M&A market with its deal for HealthPointe Medical Centres Ltd. NeuPath is Canada’s largest provider of chronic pain management services that operates under two leading brands in Ontario: Centres for Pain Management and InMedic Creative Medicine. NeuPath has 12 locations across Ontario with more than 100 licensed healthcare providers that provide care to over 11,000 patients annually. Under the terms of the agreement, NeuPath will acquire 100% of HealthPointe for CAD 3.2 million upfront cash (U.S. $4.05 million) and up to CAD 1.5 million in potential milestones based on the achievement of certain financial... Read More »
Acadia Healthcare Acquires Adventist Health Vallejo
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) announced last week it purchased Adventist Health Vallejo from Adventist Health for an undisclosed sum. Adventist Health Vallejo is a 61-bed psychiatric hospital that is operated as a service of Adventist Health St. Helena. Its services include short-term psychiatric care for children, adolescents and adults as well as partial hospitalization services for adults who are experiencing psychiatric problems or are dependent on alcohol, drugs or prescription medications. The psychiatric hospital has operated in Vallejo, California for nearly 25 years. Acadia Healthcare intends to retain current staff and associates and also invest in and expand... Read More »