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Healthcare Staffing Firms in Steady Demand
As healthcare companies and providers across the industry wrestle with staffing shortages and retention, staffing firms are looking to fill some of the gaps, thus driving M&A activity. According to our Deal Search Online database, there have been nine acquisitions focused on healthcare staffing firms so far this year, and that number will most likely grow. If a price had been disclosed, Medical Solutions’ takeover of C&A Industries, Inc. this month would surely be among the largest deals in this segment. Medical Solutions, a portfolio company of TPG Growth, specializes in placing registered nurses in temporary travel assignments throughout the country. The... Read More »
Robotics Firm Acquired by Siemens Healthineers
After a nearly two-year hiatus, the diagnostic and therapeutic imaging giant Siemens Healthineers AG (XETRA: SHL.DE) has agreed to purchase Corindus Vascular Robotics, Inc. (NYSE: CVRS) for $1.1 billion, at a price of $4.28 per share. Corindus is a global leader in robotic-assisted vascular interventions. Its CorPath platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. On a trailing 12-month basis, Cordindus reported approximately $12.3 million in revenue. Siemens plans to combine its high-quality imaging, digital and artificial intelligence tools with Corindus’ precision robotics platform to improve treatment for... Read More »
CROs and CDMOs are Still Selling Fast
This past week Permira, a global investment firm based in the United Kingdom, spent $2.4 billion for Cambrex Corporation (NYSE: CBM). Cambrex is a premier contract development and manufacturing organization (CDMO) in the small molecule space and provides drug substance, drug product and analytical services across the entire drug lifecycle. The $2.4 billion purchase price includes the company’s net debt, for 4.2x revenue and 16.3x EBITDA, represents a 47.1% premium to Cambrex’s closing price of $40.78 on August 6. The target reported a number of its own acquisitions recently, making the CDMO a more attractive buy. Cambrex acquired Halo Pharma in 2018 and Avista Pharma Solutions... Read More »
Private Equity Reshapes Health Care
It’s hard to imagine where health care would be today without private equity firms. Since 2013, merger and acquisition activity in all healthcare sectors has soared 80%, to a record 1,908 deals announced in 2018. Private equity sponsors accounted for approximately 32% of those transactions, both direct and add-ons. Of the $333.3 billion spent last year (not a record), these firms contributed 14%, or $47.7 billion. The dollar volume would be much higher if more deals disclosed financial terms. In the first seven months of 2019, the pace has slowed as global uncertainty has grown. Total deal volume through July 31 reached 989 transactions and private equity accounted for 279 (28%). Spending... Read More »
After a Two-Year Buying Spree, Bain Sells Majority Stake in Waystar
Almost two years ago, in September 2017, Bain Capital Private Equity acquired cloud-based revenue cycle management (RCM) company ZirMed for a reported $750 million and merged it with its own revenue cycle management company, Navicure. The combination formed Waystar, which integrated ZirMed’s business and clinical performance management solutions with Navicure’s own cloud-based RCM platform that focused on medical claims management, patient payment and data analytics solutions. Pedal to the Metal A year later, in September 2018, Waystar went on an acquisition spree. Its first target, Connance, provides predictive analytics solutions to more than 500 hospitals, thousands of... Read More »Schedule a demo
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