LGC Gets New Owners After Multi-Billion Deal
Cinven and Astorg have joined forces to purchase LGC Group from KKR (NYSE: KKR). The two global private equity firms spent $3.88 billion (£3 billion) for the firm, according to sources cited 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. According to our Deal Search Online database, this is the largest deal in the Laboratories, MRI and Dialysis sector, based on disclosed prices in 2019. This deal ends a four-year partnership that started in December 2015 when KKR acquired LGC for $989 million. At the time, LGC was a portfolio company of... Read More »
Phenomics Health Adds Clinical Assessment Capabilities
Making sure patients with multiple chronic conditions aren’t over- or under-dosed with medications can be a fraught process. Phenomics Health, based in Ann Arbor, Michigan, has been working on the genomics side of the problem. Its recent acquisition of Precera Bioscience’s patented portfolio of pharmacometabolomic technology adds capabilities to provide a more complete view of patients’ potential and actual response to medications than is currently available. Phenomics Health is a bioinformatics platform-based precision medicine company that uses artificial intelligence and machine learning to translate advanced genetic, epigenetic, multi-omics and health data into novel... Read More »
Robotics Firm Acquired by Siemens Healthineers
After a nearly two-year hiatus, the diagnostic and therapeutic imaging giant Siemens Healthineers AG (XETRA: SHL.DE) has agreed to purchase Corindus Vascular Robotics, Inc. (NYSE: CVRS) for $1.1 billion, at a price of $4.28 per share. Corindus is a global leader in robotic-assisted vascular interventions. Its CorPath platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. On a trailing 12-month basis, Cordindus reported approximately $12.3 million in revenue. Siemens plans to combine its high-quality imaging, digital and artificial intelligence tools with Corindus’ precision robotics platform to improve treatment for... Read More »
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 »Schedule a demo
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