eHealth Activity Drove Busy June

eHealth Activity Drove Busy June

Based on preliminary numbers, there were 119 deals announced in June 2020, a 19% increase over deal volume in May 2020. June’s transaction volume was largely boosted by a surge in eHealth activity, which accounted for 20% of deal volume. The 24 deals announced in June even tops June 2019’s eHealth activity, where only 16 transactions were announced, according to our Deal Search Online database.  However, dollar volume in eHealth transactions declined heavily in June compared with June 2019, but that comparison might be unfair. Dassault Systemes (Paris: DSY) announced it was acquiring Medidata Solutions, Inc. (NASDAQ: MDSO) on June 12, 2019 for $5.8 billion, which overshadows... Read More »
Corizon Health Acquired by Global Investment Firm

Corizon Health Acquired by Global Investment Firm

A leading provider of correctional healthcare services is now under new management. Flacks Group, a privately held global investment firm, announced on June 30 it was acquiring Corizon Health Inc. for an undisclosed amount.   Corizon Health has provided evidence-based healthcare services to states and municipalities across the country for more than 40 years. Corizon offers comprehensive solutions for medical care, behavioral care, pharmaceutical, and re-entry services. Corizon Health’s PharmaCorr is the only in-house pharmacy in the corrections industry. The company employs over 5,000 staff, including doctors, nurses, and other healthcare professionals.  The acquisition accelerates Flacks... Read More »
NMS Capital-Backed Physician Group Adds New Dermatology Practice

NMS Capital-Backed Physician Group Adds New Dermatology Practice

A portfolio company of NMS Capital announced in the last week of June it has acquired a Maryland-based dermatology practice, capping off a busy month for the private equity firm. Anne Arundel Dermatology Management (ADM) purchased Chevy Chase Cosmetic Center and Dermatology & Cosmetics Surgery Associates (CCCC), a dermatology practice founded in 1992 with four physicians and multiple locations in Chevy Chase and Greenbelt in Maryland. No terms were disclosed With the addition of CCCC, ADM now provides support services to over 65 clinic locations across four states and over 155 providers. CCCC will benefit from ADM’s administrative and support services, including investments in... Read More »
The Pennant Group Expands in the West

The Pennant Group Expands in the West

The Pennant Group, Inc. (NASDAQ: PNTG) is having a good start to the third quarter. The healthcare services company announced on July 1 it acquired two home health & two hospice agencies with multiple locations across southeastern Idaho and northern Utah from Signature Health Care at Home. The acquired locations will operate under the brand Symbii Home Health and Hospice. Pennant Group’s CEO Daniel Walker also disclosed in the announcement that more acquisitions are in the pipeline for the company.   Mr. Walker’s pledge could be a good sign for the Home Health & Hospice market in the second half of 2020. The Pennant Group formed in October 2019 after it was spun out... Read More »
Health Care M&A Deals, July 3, 2020

Health Care M&A Deals, July 3, 2020

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 Deal Search Online 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 based on announced price was Liquidia Technologies, Inc.’s acquisition of RareGen, LLC, a portfolio company of PBM Capital Group, for $65.7 million. To subscribe to our Health Care M&A deals chart and more, visit our membership site. HealthCareMandA.com is devoted to healthcare merger and acquisition data for... Read More »
LeMaitre Acquires New Jersey-based Medical Device Firm

LeMaitre Acquires New Jersey-based Medical Device Firm

LeMaitre Vascular (NASDAQ: LMAT), a Massachusetts-based medical device manufacturer, announced a new addition to its portfolio. The company has purchased Artegraft, Inc., which processes and sells biologic vascular grafts that are derived from bovine carotid arteries and are implanted primarily in hemodialysis access patients. Its products are marketed under the brand Artegraft and are sold only in the U.S. Artegraft generated trade sales of $15.6 million and estimated hospital-level sales of $18.6 million during the twelve-month period ended May 31, 2020. Artegraft’s unit sales grew by 10% in 2019. LeMaitre purchased Artegraft for a total of $72.5 million in cash, with $65 million upfront... Read More »
Health Care M&A Deals, July 3, 2020

Health Care M&A Deals, June 26, 2020

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 Deal Search Online 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 announcement of the week was Invitae Corporation’s acquisition of ArcherDX, a genomic sequencing services company, for $883.3 million. To subscribe to our Health Care M&A deals chart and more, visit our membership site. HealthCareMandA.com is devoted to healthcare merger and acquisition data for the serious analyst and investor. Every day, this service... Read More »
Sanofi Pasteur Jumps Into the COVID-19 Vaccine Race

Sanofi Pasteur Jumps Into the COVID-19 Vaccine Race

Sanofi Pasteur, the vaccine division of Sanofi (NYSE: SNY) has expanded its partnership with Translate Bio (NASDAQ: TBIO ) to produce a COVID-19 vaccine. The two companies are pursuing novel mRNA vaccines aimed at broadly addressing current and future infectious diseases, evaluating multiple COVID-19 vaccine candidates. They hope to conduct human clinical trials in Q4:2020 but are also advancing an mRNA vaccine development candidate against influenza through preclinical studies with clinical trial initiation anticipated in mid-year 2021. The original agreement dates back to 2018, when Translate Bio and Sanofi Pasteur entered into a collaboration and exclusive license agreement to develop... Read More »
Penn State Health Adds Holy Spirit Health

Penn State Health Adds Holy Spirit Health

For the first time in a few years, Penn State Health is adding another hospital system. The Hershey, Pennsylvania-based not-for-profit signed a definitive agreement to acquire Holy Spirit Health System from Geisinger Health System, another large not-for-profit system based in Danville, Pennsylvania. Geisinger acquired Holy Spirit Health in October 2014. Holy Spirit is anchored by Holy Spirit Hospital (277 beds), a Level II Trauma Center located in Camp Hill, Pennsylvania, southwest of Harrisburg. The deal includes the hospital, its outpatient practices and urgent care centers in Cumberland, Dauphin, Perry and York counties, as well as the Ortenzio Heart Center and the assets of West Shore... Read More »
Invitae Corporation Grows Diagnostics Platform With New Acquisition

Invitae Corporation Grows Diagnostics Platform With New Acquisition

Invitae Corporation (NYSE: NVTA), a genetic information company, announced on June 22 it acquired Colorado-based ArcherDX for $883.3 million. ArcherDX offers genomic sequencing services and testing solutions to help develop and deliver personalized and precision diagnostics and monitoring in the field of oncology. Invitae will pay $325 million in cash and 30 million shares of Invitae common shares at $18.61 per share (June 19, 2020 closing price). In addition, up to 27 million shares of Invitae stock could be payable upon milestone achievements   The combined company will be able to offer robust support for biopharmaceutical companies, from patient identification and screening to biomarker... Read More »