Articles written by Lisa Phillips:

Community Psychiatric Clinic Merges with Navos

Two Seattle-based not-for-profits have teamed up to scale up, essentially. Community Psychiatric Clinic (CPC) and Navos, a wholly owned affiliate of MultiCare Health System, announced their merger on June 14. Navos is the public behavioral health provider for more than 40% of all youth served in the King County community behavioral health system, and is the largest […]

Veritas Capital Doubles Down on Digital Health

Veritas Capital Management has made some aggressive moves into the digital health space in recent years. Its investment focus is on companies that provide critical products and services, not just in healthcare, but also in aerospace and defense, communications, energy and education. So its recent activity is interesting, and expensive. In April 2016, Veritas paid […]

Roche Builds on its Foundation Medicine Deal

Three years after its first investment, Roche AG (SIX: RO) bought the rest of Foundation Medicine, Inc., a Cambridge, Massachusetts-based molecular information company. In January 2015, Roche plunked down $1.03 billion to acquire approximately 57% of Foundation Medicine from its venture capital backers Google Ventures, Third Rock Ventures and Kleiner, Perkins, Caufield & Byers. Roche […]

Sperm and Egg Bank Merges with Stem Cell Company

June is thought to be the most popular month for weddings, and new beginnings. That wasn’t what sparked the merger of California Cryobank and Cord Blood Registry (CBR) on June 15, but it certainly put marriage and families front and center. California Cryobank, a portfolio company of Longitude Capital and NovaQuest Capital, is the world’s leading […]

Envision Healthcare Sells to KKR for $9.9 Billion

It’s been a bumpy road for Envision Healthcare (NYSE: EVHC). The company went public in 2013, with revenues of $3.7 million. In 2018, it is going private with KKR & Co. (NYSE: KKR), with revenues of $8.0 billion. In 2014, Envision operated American Medical Response, Inc., an air ambulance company; EmCare Holdings, provider of physician practice management […]

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 […]

LifeScan Diabetes Deal Brings $2.1 Billion

Johnson & Johnson‘s (NYSE: JNJ) selling spree continued with the divestiture of LifeScan, Inc. for $2.1 billion. LifeScan is a leader in blood glucose monitoring products, serving approximately 20 million patients globally in more than 90 countries. LifeScan markets blood glucose monitoring systems for home and hospital use under the global brand, One Touch. The […]

Ethicon Sells Its Advanced Sterilization Products for $2.7 Billion

Johnson & Johnson (NYSE: JNJ) subsidiary Ethicon last week sold its advanced sterilization products (ASP) business to Fortive Corporation (NYSE: FTV) for $2.7 billion. The ASP business is a global provider of innovative sterilization and disinfection solutions. It generated adjusted EBITDA margin of approximately 25% (unaudited) in 2017. Fortive is a diversified industrial growth company […]

New Enterprise Associates Adds Paladina Health to Its Portfolio

New Enterprise Associates (NEA) has a strong healthcare portfolio, filled with digital health, population health management and physician practices. On June 6, the private equity firm added another physician group, Paladina Health, for a reported $100 million. It’s not surprising that the bidding was “highly competitive,” according to a CNBC source, and that there were […]

Stat of the week graph
Stat of the week graph

Talk of a Bubble in Healthcare Services Slows Some Deals

Yes, the B-word is being bandied about among deal makers these days. Talk of a bubble, particularly in healthcare services, is becoming more open. We heard it often at a recent breakfast meeting of healthcare investors, and again and again in conversations since. In May, some 130 transactions were made public, representing a 26% decline […]