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Lumenis Finally Finds a Buyer

Lumenis Finally Finds a Buyer

by | Nov 22, 2019 4:03 pm | Medical Devices, Private Equity

After a four-year partnership, XIO Group has finally sold Lumenis. CVC Capital Partners and FountainVest Partners came incredibly close to purchasing the medical device firm late last year for an estimated $950 million, according to reports in Calcalist, but the deal was never finalized. Fast forward to the present day, and Baring Private Equity Asia (BPEA) has emerged as the buyer, spending $1 billion for the Israeli firm. Lumenis provides specialty minimally invasive medical devices in the fields of aesthetics, urology, ophthalmology, ENT, and gynecology. The company has a presence in more than 100 countries. XIO Group acquired Lumenis in 2015 for $510 million, or $14 a share, when the... Read More »
LGC Gets New Owners After Multi-Billion Deal

LGC Gets New Owners After Multi-Billion Deal

by | Nov 22, 2019 3:56 pm | Laboratories, MRI & Dialysis, Private Equity

Cinven and Astorg have joined forces to purchase LGC Group from KKR (NYSE: KKR). The two global private equity firms spent $3.88 billion (£3 billion) for the firm, according to sources cited in Private Equity News. LGC provides a range of measurement tools, proficiency testing schemes, supply chain assurance standards, and specialty genomics reagents to the life sciences industry. According to our Deal Search Online database, this is the largest deal in the Laboratories, MRI and Dialysis sector, based on disclosed prices in 2019. This deal ends a four-year partnership that started in December 2015 when KKR acquired LGC for $989 million. At the time, LGC was a portfolio company of... Read More »
Lumenis Finally Finds a Buyer

PE Firms Trade WIRB-Copernicus for $3 Billion

by | Nov 15, 2019 4:23 pm | CRO, Other Services, Private Equity

Leonard Green & Partners, L.P won the auction to acquire WIRB-Copernicus Group (WCG) from Arsenal Capital Partners for $3 billion. The purchase value was originally reported in PE Hub Buyouts. WCG is a clinical services organization that enables biopharmaceutical companies, contract research organizations and institutions to accelerate the delivery of new treatments and therapies to patients. Arsenal will retain a stake in WCG. It acquired the company in March 2012 and led its recapitalization in August 2016 alongside other investors, including MSD Partners, the family office of Michael Dell. WCG has an estimated EBITDA of $175 million for 2019. WCG has been relatively quiet on the... Read More »
Doc Group Deals Take Health Care in New Directions

Doc Group Deals Take Health Care in New Directions

by | Nov 10, 2019 10:48 am | Physician Medical Groups, Private Equity

With more than 180 deals announced so far in 2019, the Physician Medical Group sector is roaring toward another strong close. The usual specialties—dental, dermatology and ophthalmology—are still very active, but after 10 to 20 years of consolidation, their trajectories are flattening. Other specialties are gaining traction with private equity investors, particularly orthopedics, gastrointestinal (GI), urology, pain management and women’s health. Even ear, nose & throat (ENT) deals are picking up. We spoke with a few deal makers to find out where this sector stands at the end of 2019 and what’s ahead for M&A in 2020. The hot areas this year have been surgical subspecialties,... Read More »
LHC Group and LifePoint Health JV Strike Again

LHC Group and LifePoint Health JV Strike Again

by | Nov 10, 2019 10:33 am | Home Health & Hospice, Private Equity

After a quiet year on the acquisition front, LHC Group (NASDAQ: LHCG) and LifePoint Health have expanded their joint venture (JV) into three new states. The purchase includes CMH Home Health Care in Wilmington, Ohio, Casa de la Paz Hospice in Sierra Vista, Arizona, and St. Joseph Family Hospice in Lewiston, Idaho. LHC Group will assume management responsibility for the agencies, which will continue to operate from their current locations and under the same names. LHC expects approximately $3.6 million in annualized revenue from this expansion and anticipates that it will not materially affect its 2019 diluted earnings per share. LHC Group and LifePoint Health formed the partnership to... Read More »
LGC Gets New Owners After Multi-Billion Deal

CROs Are Still Trending as Q4 Rolls On

by | Nov 10, 2019 10:26 am | CRO, Other Services, Private Equity

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 »