Point-of-Care Diagnostics Company Commands $5.8 Billion
Abbott Laboratories (NYSE: ABT) may be known for its branded generic pharmaceuticals, but it just boosted its diagnostics division with the $5.8 billion acquisition of Alere Inc. (NYSE: ALR). Alere provides point-of care diagnostics and services for the infectious disease, cardiometabolic disease, and toxicology in the United States and worldwide. Abbott will pay $56 per common share, representing a 51% premium to Alere’s closing price on Friday, January 28, 2016. Abbott will also assume or refinance Alere’s $2.6 billion debt. Back in July 2015, Alere paid $60 million for US Diagnostics. It made a larger, $270 million deal for eScreen, Inc. in March 2012. The combination of... Read More »2015 Health Care M&A Beats All Records
It’s déjà vu all over again. 2014 was a record-breaker for health care M&A, with 1,317 transactions and spending at an astronomical $387 billion. Then 2015 came and went and, once again, we’re writing about a record-breaking number of transactions, 1,460 currently, and astronomical spending of $563 billion. Read More »
Pharma Cozies Up to Diagnostic Labs
Last year, the Laboratory, MRI & Dialysis sector posted robust deal volume, relatively speaking. The total of 52 announced transactions was a 58% gain compared with the year before, and better than every year since 2007, when 54 deals were announced (see the chart below). Two of the deals targeting a diagnostic lab or technology were made by major pharmaceutical companies. The common thread we’re seeing as we look back in our database is that these pharma companies are gaining another entry to physician practices, like the camel getting its nose under the tent. The largest deal was OPKO Health’s (NYSE: OPK) $1.47 billion acquisition of Bio-Reference Laboratories (NASDAQ:... Read More »Charles River Buys WIL Research
Charles River Laboratories International, Inc. (NYSE CRL) started the year off with the acquisition of WIL Research, which provides safety assessment, contract development and manufacturing (CDMO) services to biopharmaceutical, agricultural and industrial chemical companies worldwide. The purchase price was approximately $585 million in cash. WIL Research will join Celsis International Ltd., acquired in July 2015 for $212 million, in Charles River’s growing global business. Celsis provides rapid bacterial detection systems for quality control testing in the biopharmaceutical and consumer products industries. This acquisition will grow its global presence, especially in Europe. It will also... Read More »UMS increases lithotripsy business
USMD Health Systems has sold US Lithotripsy LP to United Medical Systems, Inc. (UMS), a subsidiary of private investment firm New State Capital Partners. UMS provides turnkey mobile lithotripsy, laser and stereotactic breast biopsy services to patients at 850 healthcare facilities in the U.S., Canada and Latin America. The acquired company, US Lithotripsy, is a provider of lithotripsy services at facilities in Arizona, Arkansas, Colorado, Missouri, Oklahoma and Texas. It performs over 12,000 ESWL (Extracorporeal Shock Wave Lithotripsy) procedures annually. With its acquisition by UMS, US Lithotripsy will add more than 100 hospitals, ambulatory surgical centers and other sites of service in... Read More »Schedule a demo
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