Healthscope Divests Asia Pacific Healthcare Group
In an effort to refocus its business plan, Healthscope is selling Asia Pacific Healthcare Group (APHG), its New Zealand pathology business. With 25 laboratories, over 2,000 staff, and 150 collection centers throughout the country, APHG performed over 6.7 million pathology patient episodes across New Zealand in 2019. The group has also been heavily involved in providing testing as part of New Zealand’s response to COVID-19. Healthscope is the second-largest private hospital operator in Australia The buyers are the New Zealand Superannuation Fund (NZ Super Fund), which invests money on behalf of the New Zealand government to help pay for the increased cost of universal pension entitlements... Read More »
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 »
Integral Diagnostics Acquires Ascot Radiology
Australian-based Integral Diagnostics (ASX: IDX) announced on June 10 that it acquired Ascot Radiology, expanding its network of diagnostic clinics. The acquisition will create a new entity known as Integral Diagnostics New Zealand Radiology Group, which will have a total of 63 clinics between Australia and New Zealand. Integral paid roughly $31.2 million (NZ$47.7 million), with $24.9 million in cash and $6.2 million in new ordinary Integral shares to be issued at $2.28 per share to 17 specialist vendor doctors. Integral Diagnostics provides diagnostic imaging services to general practitioners, medical specialists, and allied health professionals. The company provides its services through... Read More »
TearLab Corporation Goes Private with Accelmed
Deal making hasn’t shut down entirely. The technology healthcare sectors are still attracting investors. The most recent is TearLab Corporation’s (OTCQB: TEAR) acquisition by Accelmed Partners, New York City-based group of funds investing in health tech companies in the medical device, diagnostics, and digital health areas. TearLab develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve the standard of care by testing for disease biomarkers in tears at the point of care. The TearLab Osmolarity Test, to aid in the diagnosis of Dry Eye Disease, is the first assay developed for the TearLab Osmolarity System. In connection with the acquisition,... Read More »
Thermo Fisher and QIAGEN Merge in Multi-Billion Deal
After a year hiatus from the acquisition trail, Thermo Fisher Scientific Inc. (NYSE: TMO) is back with a big deal. Earlier in March, the medical diagnostics company announced it was acquiring QIAGEN N.V. (NYSE: QGEN) for $11.5 billion, or 23.8x EBITDA and 7.5x revenue. QIAGEN provides sample-to-insight solutions that transform biological materials into molecular insights worldwide. It has more than 500,000 customers around the world in molecular diagnostics and life sciences. The terms include $43.64 per share in cash, a 23% premium to QIAGEN’s March 2, 2020 closing price, plus assumption of approximately $1.4 billion of net debt. This acquisition expands Thermo Fisher’s... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
