Partners Group Acquires Pharmathen
Outsourced R&D companies, such as CROs and CDMOs, have been in huge demand this year due to industry tailwinds. Biotech and pharma firms are racing to find treatment for diseases of high unmet need, and external research firms have the capabilities to help life science companies reach the finish line. The M&A market for CROs, especially, has been grabbing all the attention, but CMDOs are in high demand as well, as showcased by the acquisition of Pharmathen by private equity firm Partners Group from BC Partners for $1.9 billion. BC Partners invested in Pharmathen in mid-2015 in a transaction valued at approximately $560 million. Founded in 1969, Pharmathen is a leading CDMO... Read More »
Anchor Health Properties Buys 4 MOBs
The real estate investment firm Anchor Health Properties has expanded its property portfolio with the addition of four class-A medical office buildings (MOBs) totaling more than 210,000 square feet. Anchor Health is paying more than $100 million for the properties, or more than $475 per square foot, but the exact price was not specified. The assets were acquired through joint ventures with existing institutional equity partners in an off-market setting. The portfolio includes University City Medical Office Building in Charlotte, North Carolina (66,525 square feet), NorthBay Medical Office Building in Fairfield, California (29,620 square feet), IDC Medical Plaza in Renton, Washington... Read More »
Cano Health Acquires Doctor’s Medical Center
After acquiring University Health Care in mid-June for $600 million, Cano Health (NYSE: CANO) has already struck another deal. Cano Health announced last week it is acquiring Doctor’s Medical Center (DMC), which provides integrated, innovative care to Medicare, Medicaid and ACA members in South Florida. Founded in 1996, it has grown to 18 medical centers located in Miami-Dade and Broward counties. The deal is valued at $300 million cash, and concurrent with the acquisition, Cano Health borrowed $250 million through an unsecured debt facility. DMC is expected to generate $194 million in revenue and $22 million in EBITDA in 2021. The combination with DMC increases Cano Health’s... Read More »
Parexel Sold in $8.5 Billion Deal
It looks like contract research organizations are still in high demand. EQT Private Equity and Goldman Sachs Asset Management Private Equity are teaming up to acquire Parexel from Pamplona Capital Management for $8.5 billion. Parexel is a leading global clinical research organization (CRO) serving sciences and biopharmaceutical clients. EQT is a purpose-driven global investment organization with more than $79 billion in assets under management across 26 active funds. Goldman Sachs Asset Management Private Equity is the primary investing area within Goldman Sachs, overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. This investment into Parexel will... Read More »
CD Health Infrastructure Partners Hits the Ground Running
CD Health Infrastructure Partners is capitalizing on the aging population in Northern Phoenix. The vertically integrated real asset investment firm acquired one medical office building, primarily leased out to Banner Health, in Paradise Valley, Arizona. Banner currently has the largest healthcare system in Arizona with over 50,000 employees. The medical office building has approximately 13,800 square feet, but the price for the facility was not disclosed. The Northern Phoenix area benefits from high population density and rapidly growing aging demographics. In particular, the population of age 75 and older within a 15-minute drive time is expected to grow at 5.8% per year from 2020 to... Read More »Schedule a demo
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