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 »
Quest Acquires Memorial Hermann Outreach Labs
Quest Diagnostics (NYSE: DGX) has had a busy month. On January 22, it acquired Blueprint Genetics, a leading genetic testing company based in Helsinki, Finland, for an undisclosed amount. Now, it’s turned its sites back home. On January 27, it announced a deal for substantially all of the Memorial Hermann Diagnostic Laboratories (MDHL), the outreach lab division of not-for-profit Memorial Hermann Health System in Houston. Memorial Hermann has 17 hospitals and more than 300 care delivery sites in the greater Houston area. The acquisition includes nearly 30 MHDL patient service centers and nearly 60 in-office laboratory service sites. These services will transition to the Quest... Read More »
Quest Diagnostics Buys Genetic Testing Company
Quest Diagnostics (NYSE: DGX) broadened its scope in genetics and rare diseases with the January 22 acquisition of Blueprint Genetics, based in Helsinki, Finland. Founded in 2012, the target now serves customers in more than 70 countries. Financial terms of the all-cash equity transaction were not disclosed. Blueprint is a leading specialty genetic testing company with deep expertise in gene variant interpretation based on next generation sequencing (NGS) and proprietary bioinformatics. It provides 3,900 targeted single gene and more than 200 panel tests spanning 14 medical specialties. Its growth comes largely from its proprietary guideline-supported methods of gene variant interpretation... Read More »
Laboratories, MRI and Dialysis Deals Fared Just Fine in Q4
A few final deals are still rolling in for the last month of 2019, and it seems like the Laboratories, MRI & Dialysis sector fared well. Deal count was down from Q4 2018, 14 this quarter compared to a total of 19 in Q4 2019. However, dollar volume is higher, buoyed by a few large transactions. Cinven and Astorg, two private equity firms, teamed up for the largest transaction of the sector in Q4, purchasing LGC Group for roughly $3.88 billion, according to a report in Private Equity News. LGC provides a range of measurement tools, proficiency testing schemes, supply chain assurance standards, and specialty genomics reagents to the life sciences industry in over 22 countries. KKR (NYSE:... Read More »Schedule a demo
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