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CROs are back in style for M&A

by | May 31, 2016 8:00 am | Other Services, Private Equity

Contract research organizations (CROs) are changing hands again, all over the world. Since 2010, we’ve recorded 63 transactions in total, with six announced in 2016 already. That’s a strong showing compared with five CRO deals for all of 2015, but not nearly on pace to surpass the 19 deals posted in 2014. Total combined spending, based on the 14 deals with prices disclosed, was $6.5 billion. The largest by far, at $3.9 billion, was for Pharmaceutical Product Development, acquired by then-privately held The Carlyle Group (now NASDAQ: CG). A majority of the deals (63%) were made by other CROs, compared with 16% by private equity firms, the second largest acquirer category.... Read More »

PE Firms Are Big on Dermatology

by | May 24, 2016 1:38 pm | Other Services, Private Equity

Dermatology deals are popping up like, well, you can imagine. Five acquisitions have been announced in May 2016 alone, bringing this year’s total dermatology deals to nine, and equal to the number announced in all of 2014.  Those nine deals put this year on track to surpass 2015’s total of 11 deals. Private equity firms or their portfolio companies are by far the busiest players buying up dermatology clinics, accounting for 88% of acquisitions in this space since 2014. Finding a decent-size platform is a tough task in health care these days, as panelists at a recent health care deal summit noted. Outpatient physical therapy, behavioral health care, anesthesia practices are all in play. But... Read More »

naviHealth Buys Curaspan

by | Apr 20, 2016 4:42 pm | eHealth, Other Services, Private Equity

naviHealth is moving deeper into post-acute care transitions, in an effort to follow the bundled payments from end-to-end. Last week the company announced it will acquire Curaspan Health Group for an undisclosed amount. Just last August, naviHealth was the target in a $290 million deal, as Cardinal Health (NYSE: CAH) acquired 71% of the company from Welsh, Carson, Anderson & Stowe, with the goal of acquiring the remaining 29% within four years. naviHealth provides software and analytics to healthcare plans, health systems, physicians and post-acute care providers to manage the entire continuum of post-acute care. Curaspan Health specializes in care transition tools for hospitals and... Read More »

Other Healthcare Services Deals, 2006 to 2015

by | Apr 20, 2016 3:53 pm | Other Services

During 2015, 178 deals were announced in the “Other Services” sector, the highest number in the past five years. Because this category tracks a wide range of businesses that operate or perform services that support or are ancillary to the direct delivery of health care, the statistical significance of a surge or plunge is less relevant than it would be in a sector that tracks a specific service such as hospitals or rehabilitation. Included are pharmacy benefit management companies, ambulatory surgery centers, dental and dermatology practices, contract and clinical research organizations (CROs), and medical transport companies, among others. Read More »

March 2016’s Biggest Health Care Deals

by | Apr 13, 2016 8:29 am | Other Services, Pharmaceuticals, Private Equity

Health care companies are still attracting buyers, and those in the services sectors seem to be the hottest. Last month saw healthy deal volume, at 134 transactions. For a year that started slowly for health care mergers and acquisitions, March 2016’s deal volume is only 3% lower than the same month a year ago. Industry sources have noted the dearth of deals across many industries going into March, even though some uncertainties that troubled markets earlier this year, such as China’s economic slow down, haven’t occupied center stage recently. Leverage is not an overwhelming concern, but credit has tightened over the past few months. And with the new, more onerous federal rules regarding... Read More »

Biotechnology CROs Are Trading Again

by | Mar 24, 2016 8:00 am | Other Services, Private Equity

Two contract research organizations (CROs) have changed hands in the past two weeks. On March 17, Hamburg, Germany-based IPM Biotech was acquired by BioAgilytix, a portfolio company of Riverside Partners, in Durham, North Carolina. As its name implies, IPM Biotech specializes in biotech research, specifically in large molecule bioanalysis in the area of immunogenicity. The transaction expands BioAgilytix’s global footprint with IPM’s newly planned GLP and GMB laboratory facility. Its services complement IPM’s rich immunogenicity, pharmacokinetics and pharmacodynamics expertise. Less than a week later, LakePharma, Inc., a CRO in Belmont, California, acquired Blue Sky... Read More »