Healthcare Subsectors Drive Double-Digit M&A Decline in 2023
There is no shortage of subsectors contributing to the overall double-digit percentage decline in healthcare M&A activity in 2023. According to the LevinPro HC database, there have been 1,299 healthcare M&A deals this year through July 31. This represents an 12% drop compared with the 1,481 transactions recorded during the same period in 2022. The 2023 total represents a 5% increase from the 1,240 deals posted in 2021 through July 31. Some of the subsectors that have contributed to the M&A activity decline this year include Contract Development Manufacturing Organizations (CDMO), healthcare staffing firms, infusion services companies, primary & value-based care... Read More »
Quadria Capital Acquires Majority Stake in Straits Orthopaedics
Quadria Capital has announced the acquisition of a majority stake in Straits Orthopaedics from its founder, Mr. T.H. Su, and Apex Healthcare Bhd. Kirkland & Ellis advised Quadria Capital on the debt financing for its acquisition. Under the terms of the agreement, Apex Healthcare Bhd and Su have agreed to reinvest a substantial portion of their sales proceeds back into the company as minority-stake partners. As part of the deal, Su has been reappointed as the CEO and director of the company for the next five years. Financial terms of the deal were not disclosed. Founded in 2003, Straits Orthopaedics manufactures a range of orthopedic-focused medical device solutions for blue-chip... Read More »
ARCH Medical Solutions Acquires Bettanini’s Custom Manufacturing
ARCH Medical Solutions Corp., a platform company of The Jordan Company, announced on March 6 that it acquired Bettanini’s Custom Manufacturing, located in Sonora, California. Bettanini’s Custom Manufacturing is a contract manufacturer of precision-machined components for the surgical robotics, defense, aerospace and specialized components markets. Bettanini’s Custom Manufacturing will join ARCH Medical Solutions, bolstering ARCH as a diversified supplier noted for growth and scale within the medical device contract manufacturing market. The acquired business features expertise that aligns well with ARCH Medical Solutions’ Sonora-based facility and will be integrated... Read More »
TA Associates Announces Strategic Growth Investment in Synokem Pharmaceuticals
TA Associates, a leading global growth private equity firm, announced on January 18 that it completed a strategic growth investment in Synokem Pharmaceuticals Ltd. TA Associates was represented by AZB & Partners. BDA Partners acted as the financial adviser to Synokem. Synokem’s founders will continue as shareholders in Synokem alongside TA. Financial terms of the transaction were not disclosed. Founded in 1983, Synokem Pharmaceuticals is one of India’s leading contract development and manufacturing organizations (CDMOs), serving customers in the branded generic domestic formulations market. Synokem is based in New Delhi, India, with manufacturing and R&D facilities in Haridwar,... Read More »