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CROs Are Buying, Too
A few CROs, like PRA Health Sciences, are turning to eHealth acquisitions to strengthen their data technology capabilities. We already know that CROs are popular targets. But CROs can play the role of acquirer, too. Lately, a few of these companies have been busy claiming eHealth targets to advance their technological capabilities, namely data capabilities. On August 7, 2017, PRA Health Sciences, Inc. (NASDAQ: PRAH) acquired privately-held Symphony Health Solutions Corporation. The deal valued Symphony at $530 million, or 2.65x revenue. But, that value could be even larger depending on Symphony Health exceeding financial targets in 2017 and 2018 Symphony Health Solutions Corporation... Read More »Invitae Adds Reproductive Health Diagnostics
Just a month ago, we reported on molecular-diagnostics firm Invitae (NYSE: NVTA), and its interest in the eHealth sector, following the acquisition of two digital health companies. In July, the company set its sights on other laboratory companies and announced two more acquisitions. Invitae also separately announced that it will sell $73.5 million of its stock through a private placement to be led by existing investors with “significant” participation from multiple new investors, all unnamed. Invitae is one of the fastest growing genetic information companies in the United States, whose longer-term strategy is to aggregate most of the world’s genetic tests into a single service with... Read More »
WebMD Goes Private in $3.6 Billion Deal
A portfolio company of KKR (NYSE: KKR) just announced the 99th eHealth deal of 2017, and the second largest eHealth deal in our M&A database dating back to 1993. On July 24, 2017, KKR portfolio company Internet Brands, an online media and software services organization, announced the acquisition of WebMD Health Corp. (NASDAQ: WBMD). The company provides health information services, serving consumers, physicians, healthcare professionals, employers, and health plans through its public and private online portals, mobile platforms and health-focused publications. The deal comes five months after New York-based WebMD said it would explore strategic options following a slowdown in... Read More »Health Care Deal Volume Slows in Q2:2017, As Dollar Volume Rises
Health care merger and acquisition activity slowed in the second quarter of 2017. Compared with the first quarter of 2017, deal volume decreased 15%, to 366 transactions. Deal volume was also lower compared with the same quarter the year before, down 14%. Combined spending in the second quarter reached $95.8 billion, an increase of 62% compared with the $59.1 billion spent in the previous quarter, according to HealthCareMandA.com. Second quarter deal value was up 8% compared with the $88.7 billion spent in Q2:16. Health care services transactions accounted for 52% of the second quarter’s dollar volume, much higher than the 14% share reported in the first quarter, and the 19% share recorded... Read More »
June 2017 Deal Volume Shows Continued Strength
Preliminary data for the month of June shows that investors are still bullish—or at least comfortable—betting on health care. Some 123 transactions were announced last month, an 11% decrease compared with May’s 138 transactions. Year over year, however, this early data is just 5% below the 130 deals announced in June 2016. For a little perspective, April 2017’s deal volume was just 104 transactions, which made the May numbers look very strong by comparison. June’s deal volume looks reassuringly healthy, as it is close to the year-ago total, and could be adjusted upward in the future as more deals come to light. The same trends we’ve noted in previous months are still playing out, too. Deal... Read More »Schedule a demo
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