CROs Are Still Trending as Q4 Rolls On
In the first week of November, BioAgilytix Labs, LLC, a portfolio company of Riverside Partners, purchased Cambridge Biomedical. Both Cambridge and BioAgilytix are contract research organizations (CROs) that develop novel therapeutic biologics and biosimilars, specializing in large molecule bioanalysis. The transaction expands BioAgilytix’s global footprint and adds further capacity by joining Cambridge Biomedical’s CLIA-certified, CAP-accredited, and GLP-compliant facility with its GxP laboratories in Durham, North Carolina and Hamburg, Germany. It also gives BioAgilytix a total of 400 employees. The merger follows a busy October for CROs, in which five deals were reported, accounting for... Read More »
340B Company Verity Solutions Grabbed by Express Scripts
It’s been a quiet 18 months for Express Scripts, since its $67 acquisition by Cigna Corporation (NYSE: CI) back in March 2018, but the company is back in the M&A market. Last week, the pharmacy benefits manager (PBM) announced it bought Verity Solutions from Ignitions Partners. Verity provides 340B solutions to hundreds of integrated healthcare systems, acute-care hospitals, community health centers, and pharmacies. 340B is a federal program that requires drug manufacturers to provide outpatient drugs to eligible healthcare organizations and covered entities at significantly reduced prices. Verity Solutions will operate as a standalone company under the Express umbrella,... Read More »
National Seating & Mobility Gets New PE Investor
Cinven, the London-based private equity firm, struck a deal last week to acquire National Seating & Mobility (NMS) from Court Square Capital Partners. The sale, which was valued at $850 million by sources cited in PEHub Buyouts, resulted from a Harris Williams-run auction that began in August. Court Square Capital bought it from Wellspring Capital Management in 2016, but now Cinven will be backing the company. NMS provides complex rehab technology (CRT) solutions focusing on highly customized wheelchairs for patients diagnosed with long-term or permanent loss of mobility. NMS operates through Rehab Technician Specialist (RTS) which connects with physicians and physical therapists. The... Read More »
Healthcare Staffing Firms in Steady Demand
As healthcare companies and providers across the industry wrestle with staffing shortages and retention, staffing firms are looking to fill some of the gaps, thus driving M&A activity. According to our Deal Search Online database, there have been nine acquisitions focused on healthcare staffing firms so far this year, and that number will most likely grow. If a price had been disclosed, Medical Solutions’ takeover of C&A Industries, Inc. this month would surely be among the largest deals in this segment. Medical Solutions, a portfolio company of TPG Growth, specializes in placing registered nurses in temporary travel assignments throughout the country. The... Read More »
CROs and CDMOs are Still Selling Fast
This past week Permira, a global investment firm based in the United Kingdom, spent $2.4 billion for Cambrex Corporation (NYSE: CBM). Cambrex is a premier contract development and manufacturing organization (CDMO) in the small molecule space and provides drug substance, drug product and analytical services across the entire drug lifecycle. The $2.4 billion purchase price includes the company’s net debt, for 4.2x revenue and 16.3x EBITDA, represents a 47.1% premium to Cambrex’s closing price of $40.78 on August 6. The target reported a number of its own acquisitions recently, making the CDMO a more attractive buy. Cambrex acquired Halo Pharma in 2018 and Avista Pharma Solutions... Read More »Schedule a demo
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