• Trulieve Cannabis Merges With Harvest Health

    The medical marijuana market just got its biggest merger. Trulieve Cannabis Corp. (OTC: TCNNF), a vertically integrated “seed-to-sale” company, announced last week the acquisition of Harvest Health & Recreation Inc. for $2.1 billion. Harvest Health is a vertically integrated medical cannabis company and multi-state... Read More »
  • Amedisys Acquires VNA Home Health Business

    The home health giant Amedisys, Inc. (NASDAQ: AMED) announced last week it was acquiring the home health business of Visiting Nurse Association in Omaha, Nebraska. The business has 400 providers serving Omaha, Council Bluffs and surrounding communities.  The financial terms of the deal were not disclosed, although the companies said they expect... Read More »
  • Community Psychiatry Management Expands Its Network

    The San Francisco-based behavioral healthcare company Community Psychiatry Management, LLC is expanding its footprint. The company last week announced the acquisition of MindPath Care Centers, which provides medication management and individual therapy both in-office and via telehealth, addiction recovery services, group therapy sessions and... Read More »
  • Health Care M&A Deals, May 14, 2021

    The Health Care M&A deals chart is a selection of transactions announced during the prior week(s). The M&A transactions presented here are from our HealthCareMandA.com Deal Database, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. The largest deal... Read More »
  • Science 37 Goes Public in SPAC Deal

    Another week, another SPAC deal. This time, Science 37, Inc. is merging with LifeSci Acquisition II Corp. (NASDAQ: LSAQ), a special purpose acquisition company (SPAC) targeting the biopharma, medical technology, digital health and healthcare services sectors. The transaction values Science 37 at a total enterprise value of $1.05 billion and a... Read More »
Thermo Fisher Bets $20 Billion on Leading CRO

Thermo Fisher Bets $20 Billion on Leading CRO

The laboratory and diagnostics giant Thermo Fisher Scientific Inc. (NYSE: TMO) announced a huge deal for an international contract research organization (CRO) last week. Thermo Fisher is buying PPD, Inc. (NASDAQ: PPD), a leading CRO providing broad, integrated drug development, laboratory and lifecycle management services. Its customers include pharmaceutical, biotechnology, medical device, academic and government organizations. The company has offices in 47 countries and more than 26,000 employees. Its headquarters is based in Wilmington, North Carolina.  Thermo Fisher is offering $17.4 billion for PPD, or $47.50 per share for the company, a premium of approximately... Read More »
The MOB Market Heats Up

The MOB Market Heats Up

The market for medical office buildings (MOB) showed plenty of activity in 2020, and that doesn’t seem to be slowing down in 2021. According to search results in our Healthcare Deals Database, there have been 18 transactions announced since January 1, driven primarily by announcements from Montecito Medical Real Estate, which reported nine of those deals.  Montecito Medical, one of the largest privately-held companies specializing in healthcare-related real estate, added nearly 350,000 square feet in property across eight states. One of the most notable purchases was for a three-story, 91,300 square-foot facility in Sandusky, Ohio. The property is 100% leased to Northern Ohio Medical... Read More »
DocGo Goes Public Via SPAC

DocGo Goes Public Via SPAC

Another week, another SPAC deal. Ambulnz, Inc., dba DocGo, has announced it is merging with Motion Acquisition Corp. (NASDAQ: MOTN), a special purpose acquisition company to create a publicly traded entity. DocGo, based in New York City, provides last-mile telehealth and integrated medical mobility services. Its medical mobility services offer on-demand service response and real-time vehicle location, as well as accurate estimated arrival times. The company serves 23 states in the U.S. and has operations in the U.K. By going public, DocGo hopes to continue growing its geographic footprint.  The combined company has a pro forma equity value of approximately $1.1 billion and will have... Read More »
CROs Are Back in Demand

CROs Are Back in Demand

Last year was not kind to contract research organizations (CROs). CROs typically provide discovery and development services to companies in the Medical Device, Pharmaceutical and Biotechnology sectors, conducting clinical trials and providing a wealth of R&D support. Demand for their services have seen a gradual rise over the last decade for a variety of reasons. An increasing number of start-ups have popped up in the Biotechnology sector, and they don’t have the resources or infrastructure that major players would have to oversee the complex R&D needed to bring a drug to market, so they often outsource much of that task to CROs. Second, big pharma and biotech are increasingly... Read More »
ICON Acquires PRA Health Sciences

ICON Acquires PRA Health Sciences

The contract research organization giant ICON plc (NASDAQ: ICLR) is growing its market reach through the acquisition of PRA Health Sciences, Inc. (NASDAQ: PRAH). The deal is valued at $12 billion, with the per share merger consideration consisting of $80 in cash and 0.4125 shares of ICON stock. The consideration represents an approximately 30% premium to PRA’s closing price as of February 23, 2021. The transaction value comes out to around 3.77x revenue and 20.2x EBITDA, annualized.  PRA is one of the world’s leading global contract research organizations by revenue, providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries.... Read More »
Charles River Laboratories Acquires Cognate BioServices

Charles River Laboratories Acquires Cognate BioServices

Charles River Laboratories International, Inc. (NYSE: CRL) is significantly boosting its capabilities with a new acquisition. The research giant is buying Cognate BioServices, Inc. from EW Healthcare Partners for $875 million. The acquisition and associated fees are expected to be financed through Charles River’s existing credit facility and cash. Cognate BioServices is a cell and gene therapy contract development and manufacturing organization (CDMO). The company has extensive experience producing various cell types and technologies used in cellular immunotherapy and immuno-oncology, regenerative medicine, and advanced cell therapy. Cognate BioServices’ minority shareholders include... Read More »