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Amazon Scoops Up PillPack for $1 Billion

Amazon Scoops Up PillPack for $1 Billion

by | Jun 28, 2018 11:42 am | Other Services

Amazon (NASDAQ: AMZN) finally took the plunge into the pharmaceutical market with its approximately $1 billion acquisition of five-year-old PillPack, an online pharmacy startup based in Manchester, New Hampshire. Financial terms weren’t disclosed in the deal’s announcement, but on June 28, the day of the announcement, The Wall Street Journal quoted sources on the price. In April 2018, Walmart (NYSE: WMT) was reported to be in discussions with PillPack, and targeting a price under $1 billion, according to CNBC. Amazon was also said to be holding  discussions with the company at the time. PillPack is an online pharmacy that delivers medications in pre-sorted dose packaging and... Read More »
Sperm and Egg Bank Merges with Stem Cell Company

Sperm and Egg Bank Merges with Stem Cell Company

by | Jun 20, 2018 12:27 pm | Other Services, Private Equity

June is thought to be the most popular month for weddings, and new beginnings. That wasn’t what sparked the merger of California Cryobank and Cord Blood Registry (CBR) on June 15, but it certainly put marriage and families front and center. California Cryobank, a portfolio company of Longitude Capital and NovaQuest Capital, is the world’s leading donor sperm and donor egg bank. The private equity firms acquired the company in August 2014 for an undisclosed amount, and less than four years later have sold it to GI Partners in San Francisco. That price was also not disclosed. In a separate transaction, GI Partners acquired CBR, the world’s largest stem cell collection and... Read More »
Walgreens Buys Pharmacies from Detroit Medical Center

Walgreens Buys Pharmacies from Detroit Medical Center

by | May 18, 2018 4:48 pm | Other Services

 The Detroit Medical Center (DMC) sold off its retail and outpatient pharmacy business to Walgreens, a unit of Walgreens Boots Alliance (NYSE: WBA), for an undisclosed amount, according to Crain’s Detroit Business. The deal includes seven specialty pharmacy sites and one mail-order service business. The DMC made the move as part of a pharmacy reorganization, a process that has resulted in layoffs or reassignments of some two dozen employees. The hospital is part of Tenet Healthcare Corp. (NYSE: THC), which has been in the process of selling non-core hospitals and reorganizing to pare down debt. Walgreens will operate branded specialty pharmacy outlets at some of DMC’s six... Read More »
Healthcare Services Roundup through April 2018

Healthcare Services Roundup through April 2018

by | May 11, 2018 10:59 am | Behavioral Health Care, Home Health & Hospice, Hospitals, Laboratories, MRI & Dialysis, Long-Term Care, Managed Care, Other Services, Physician Medical Groups, Rehabilitation

It’s been quite a year for healthcare deals in general, with nearly 600 announced transactions in the first four months. That’s 7% more than there were announced in the first four months of 2017. Dollar volume has soared, too. In 2018, $141.8 billion has already been committed to fund the 588 transactions. Thanks to some mega-billion-dollar deals in 2018, the total is 30% greater than the nearly $109 billion spent in the same period of 2017. Collectively, the Services sectors are booming, which isn’t always the case. Services deals made up 63% of all deals in the first four months of 2018, and 57% of the disclosed dollars, now at $81.3 billion. The Technology sectors... Read More »
Walgreens Buys Pharmacies from Detroit Medical Center

Fred’s Exits Specialty Pharmacy, CVS Gains

by | May 10, 2018 11:54 am | Other Services

Fred’s Inc. (NASDAQ: FRED) has had second thoughts about the specialty pharmacy business. Three years ago, in March 2015, the retailer acquired Reeves-Sain Drug Store, Inc., a retail pharmacy with a single location in Murfreesboro, Tennessee. Included in the $66 million deal was EntrustRx Specialty Pharmacy, a direct-to-consumer operation with three locations in Mississippi and Tennessee. EnTrustRx was licensed in all 50 states, and dispenses specialty pharmaceuticals to treat complex conditions and diseases that require ongoing support for extensive periods of time. Its main therapy lines include hepatitis C, oncology, growth hormones, multiple sclerosis and rheumatology. In the... Read More »
REVA Lands at Beekman Investment Partners

REVA Lands at Beekman Investment Partners

by | Mar 16, 2018 3:40 pm | Other Services, Private Equity

Beekman Investment Partners, a New York-based private equity firm, recently recapped REVA, Inc., the largest global fixed-wing air medical platform in the United States. The deal was closed along with strategic partner Directional Aviation LLC and Goldman Sachs Specialty Lending Group. REVA was formed in 2012 through the merger of AeroJet International and Air Ambulance Professionals. In the past six years, REVA has grown to be the global market leader in international long-range air medical transports and has set the standard for safety, reliability and patient service excellence. The company has bases of operations in Ft. Lauderdale, Florida, San Juan, Puerto Rico, Phoenix, Arizona and... Read More »