Akumin Buys Alliance Healthcare Services

Akumin Buys Alliance Healthcare Services

The diagnostic imaging provider Akumin Inc. (NASDAQ: AKU) has announced a definitive agreement to acquire Alliance Healthcare Services for approximately $820 million.  Alliance HealthCare Services provides outsourced advanced radiology and radiation therapy services across 45 states in the U.S. Alliance partners with more than 1,000 hospitals, health systems and physician practices. It was owned by Tahoe Investment Group.  Upon closing of the transaction, the combined company will offer the most comprehensive radiology and oncology solutions to patients in the U.S., operating in 46 states, with more than 1,000 hospital and health system customers, 154 independent outpatient radiology... Read More »
Danaher Corporation Buys Aldevron

Danaher Corporation Buys Aldevron

The medical device giant Danaher Corporation (NYSE: DHR) is back with a new acquisition valued at nearly $10 billion. The company is buying Aldevron for $9.6 billion from private equity firm EQT Partners. Founded in 1998, Aldevron manufactures high-quality plasmid DNA, mRNA, and proteins, serving biotechnology and pharmaceutical customers across research, clinical and commercial applications. The business employs 600 people. No other financials for Aldevron were disclosed. The deal was financed by using cash on hand and/or proceeds from the issuance of commercial paper.  Aldevron will operate as a standalone operating company and brand within Danaher’s Life Sciences segment. The... Read More »
Unchained Labs Sold to The Carlyle Group

Unchained Labs Sold to The Carlyle Group

Private equity is branching out. Firms are usually swarming the physician group and behavioral health markets, building regional platforms, but we’re now seeing plenty of activity in new sectors, such as healthcare technology and research organizations. With fields such as diagnostics and gene therapy on the rise, it only makes sense for private equity to want a stake in the game. Last week, D.C.-based The Carlyle Group LP (NASDAQ: CG) announced it was buying Unchained Labs from Novo Holdings A/S, Canaan Partners, and TPG Biotech. The deal is valued at $435 million, or 5.80x Unchained Labs’ estimated 2021 revenue.  Unchained Labs is a life science tools company focused on solving problems... Read More »
SomaLogic Goes Public With SPAC

SomaLogic Goes Public With SPAC

They just don’t stop coming. Another private healthcare company has agreed to go public via SPAC in a $1.23 billion deal. SomaLogic is merging with CM Life Sciences II (NASDAQ: CMIIU), a special purpose acquisition company affiliated with Casdin Capital, LLC and Corvex Management LP. SomaLogic is a commercial-stage proteomics company with over 300 established industry partnerships and customers. The company’s pioneering technology platform, SomaScan Assay, measures 7,000 human proteins in a single sample, enabling the possibility of faster, more precise drug discovery for researchers. Artificial intelligence and machine learning-powered bioinformatics algorithms operating in tandem... Read More »
Roche Holding Acquires GenMark Diagnostics

Roche Holding Acquires GenMark Diagnostics

Last week, the pharmaceutical giant Roche Holding AG (SIX: RO) announced a new acquisition for GenMark Diagnostics (NASDAQ: GNMK), a Carlsbad, California lab services company. GenMark Diagnostics is a leading provider of multiplex molecular diagnostic solutions designed to enhance patient care, improve key quality metrics and reduce the total cost-of-care. GenMark’s eSensor XT-8 and ePlex systems are designed to support a broad range of molecular diagnostic sample-to-answer tests with compact, easy-to-use workstations and self-contained, disposable test cartridges.  The deal is valued at $1.8 billion cash, or $24.05 per share, a premium of... Read More »
Quest Diagnostics Acquires Lab Division from Mercy

Quest Diagnostics Acquires Lab Division from Mercy

In an effort to expand its network, Quest Diagnostics (NYSE: DGX) has announced a deal with not-for-profit Mercy, a multi-state healthcare system. Quest is acquiring the health system’s outreach laboratory services business, which currently operates from 29 hospital laboratories and two independent clinic laboratories in Arkansas, Kansas, Missouri and Oklahoma.  No terms were disclosed in the all-cash transaction, but under the agreement, testing associated with outreach lab services will transition to the Quest Diagnostics full-service laboratory in Lenexa, Kansas, and a network of rapid response laboratories across the region. Mercy will continue to wholly own and operate its hospital... Read More »