Global Cancer Diagnostics Platform Announced
Big Pharma is racing to find a cure for all types of cancer. Now there’s a $2.8 billion deal that unites two cancer diagnostics companies. Exact Sciences Corporation (NYSE: EXAS), a molecular diagnostics company and maker of the Cologuard colorectal screening test, announced its acquisition of Genomic Health, Inc. (NASDAQ: GHDX) in late July. Genomic Health provides genomic-based diagnostic tests that improve cancer care, including addressing the overtreatment of the disease. Its lead product, Oncotype DX, manages clinical and genomic big data to support research and treatment for over 1 million cancer patients. The combined company will offer two of the strongest brands in cancer... Read More »
Is Laboratories, MRI and Dialysis on the Rise?
We call the Laboratories, MRI and Dialysis sector our grab-bag sector, and it seldom makes much noise. Diagnostic laboratories, radiology, and dialysis providers comprise this sector. Last year, there were only 48 deals announced, according to our Deal Search Online database, and the first quarter of 2019 reported only 11 deals, a 47% decrease from the same quarter in 2018. It hit a high of 56 deals in 2017. However, the sector seems to have picked up in the second quarter this year. The deal count caught up and we’re now at 24 deals, roughly equal to last year’s pace. But that’s not all. Last year, there was $1.68 billion in announced prices. This year we already have... Read More »
DaVita and Optum Make It over the Finish Line
It’s been a long road for DaVita Inc. (NYSE: DVA) and Optum (NYSE: UNH), but the deal is finally done. On June 19, 2019, the Federal Trade Commission approved Optum’s acquisition of DaVita Medical Group, a $4.9 billion deal when it was announced on December 6, 2017. A year later, the final price was renegotiated down to $4.34 billion. At the time of the initial announcement, Optum agreed to pay cash for the medical group and its network of nearly 300 medical clinics, 35 urgent care centers and six outpatient surgery centers. It operated and managed physician networks in California, Colorado, Florida, Nevada, New Mexico, Pennsylvania and Washington and served approximately 1.7... Read More »
Lumos Diagnostics Bolsters its POC Testing Platform
Lumos Diagnostics, a subsidiary of Planet Innovation, announced this week it acquired RPS Diagnostics for an undisclosed price. RPS develops, manufactures and markets rapid, point-of-care diagnostic tests for a variety of infectious diseases and inflammatory conditions. The merged company will be called Lumos Diagnostics. This deal adds RPS’s FebriDx test, a rapid, in-office test that provides clinicians with a rapid assessment of the body’s immune response to an acute respiratory infection. Combining RPS’ biomarker technology and Lumos’ reader-based platform will create a strong pipeline of products. This deal caps off a relatively busy month for the laboratories, MRI... Read More »
U.S. Renal Care Gets Big New Backers
U.S. Renal Care has new owners, as of February 13. It marks the first renal-related transaction in 2019 and it won’t be the last. The national dialysis provider was backed by a consortium of private equity firms such as Leonard Green & Partners, Frazier Healthcare Partners, New Enterprise Associates and Cressey & Company. Stepping in to take over is Bain Capital Private Equity, Summit Partners and Revelstoke Partners, with participation by the company’s executive management team. Financial terms were not disclosed, naturally. U.S. Renal Care works with nephrologists to develop, acquire and operate outpatient treatment centers for people suffering from chronic kidney... Read More »Schedule a demo
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