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Biotechnology CROs Are Trading Again

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 »

Sleep Services Goes to MedBridge Healthcare

Sleep disorders continue to spawn acquisitions. In February, ResMed Inc. (NYSE: RMD) paid $800 million for Brightree, a digital health company focused on post-acute segments that have a high prevalence of sleep-disordered breathing problems. This month, MedBridge Healthcare, a portfolio company of Vicente Capital Partners, paid an undisclosed price for Sleep Services of America, a wholly-owned subsidiary of the John Hopkins Health System. The Glen Burnie, Maryland-based company operates locations in Georgia, Maryland, New York, North Carolina and the District of Columbia, providing diagnosis, treatment and diagnostic studies for sleep disorders. The deal is a good fit for MedBridge,... Read More »

Complementary Specialty Pharmacies Merge

Apothecary by Design, a specialty pharmacy based in Portland, Maine, has acquired privately held Healy Pharmacy for an undisclosed price. The Warrenville, Illinois-based target focuses on infertility, gastroenterology, hepatitis, oncology, HIV, dermatology and rheumatoid arthritis. Both target and acquirer specialize in infertility treatment, serving complementary geographic markets with little overlap. This acquisition will blend each pharmacy’s unique areas of expertise, such as Healy’s strength in oncology and ABD’s experience in infectious and inflammatory diseases. Apothecary by Design was acquired in August 2015 by BelHealth Investment Partners for an undisclosed... Read More »

Leap Day Boosts February Deal Volume

It’s Leap Year, which means February was a day longer in 2016. This year, that extra day marked the announcement of seven healthcare transactions, which raised the month’s total to a healthy 113 deals. The services sectors were more active than usual, and accounted for 65% of the total. Usually, the services side makes up about 55% to 60%. Dollar volume was healthy, too, at $27.7 billion. But given the records set in 2015, February’s dollar total ended up 35% below the same month a year ago. The deals may be getting smaller, but they’re still being made. Read More »
Surgical Care Sews Up Two Partnerships

Surgical Care Sews Up Two Partnerships

Surgical Care Affiliates, Inc. (NASDAQ: SCAI) announced two transactions in the month of February that expanded its Chicago-area footprint to six locations. First was the Center for Minimally Invasive Surgery in Mokena, Illinois. The center’s 17 phsyicians provide a full suite of outpatient surgical services, including general surgery, gynecology, ophthamology, orthopedics, pain management and podiatry. Although the deal was announced on February 2, it was effective on January 1, 2016. Next, on President Lincoln’s birthday (that’s February 12, to the uninformed), SCA partnered with Winchester Endoscopy Center in Libertyville, Illinois. The center’s six physicians... Read More »

2015 Health Care M&A Beats All Records

It’s déjà vu all over again. 2014 was a record-breaker for health care M&A, with 1,317 transactions and spending at an astronomical $387 billion. Then 2015 came and went and, once again, we’re writing about a record-breaking number of transactions, 1,460 currently, and astronomical spending of $563 billion. Read More »