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Behavioral Health Deals Set a Strong Pace in H1:18

Behavioral Health Deals Set a Strong Pace in H1:18

by | Jul 15, 2018 5:47 pm | Behavioral Health Care, Private Equity

The Behavioral Health Care sector has been on a hot streak for more than three years now. In 2018, the pace may be picking up even more. In the first half of the year, 34 transactions were announced, compared with 29 in the first half of 2017. Prices for these deals, which are primarily between private equity firms and/or not-for-profit entities, are scarce. Only one deal in this sector disclosed a price so far this year, an approximately $108 million transaction in South Africa, for privately held Akeso Clinics. Netcare Limited, the second largest private hospital company in South Africa, was the buyer. In both years, companies that treated substance abuse disorders were most popular with... Read More »
Specialty CROs Are the Latest Trend in Services Targets

Specialty CROs Are the Latest Trend in Services Targets

by | Jul 15, 2018 4:56 pm | CRO, Other Services, Private Equity

Contract research organizations (CROs) were huge targets in 2017, with four of the sector’s 10 biggest deals bringing in $22.9 billion, combined. The CRO market has cooled in 2018, but interesting new trends pop up now and then. The latest is the trend toward specialty CROs, which focus on specific areas such as diseases of the central nervous system. In one week in July, two such CROs have traded hands. The first, on July 9, was Oculos Clinical Research, a CRO based in Tampa, Florida that focuses on ophthalmology. Private equity firm Point Guard Partners was exiting, and Iuvo Bioscience, a portfolio company of Tartan Holdings, was investing. Iuvo Bioscience, based in Rush, New... Read More »
Otsuka Scores Twice in One Week

Otsuka Scores Twice in One Week

by | Jul 11, 2018 12:14 pm | Biotechnology, Medical Devices, Private Equity

Otsuka Pharmaceutical Co., Ltd., a subsidiary of Otsuka Holdings (OTC: OTSKY), announced back-to-back deals in early July, in which it entered a new field, and bolstered one of its existing segments. Otsuka’s research areas are in psychiatric and neurological diseases, hematological cancers, and kidney, cardiovascular, and infectious diseases. On July 11, the company announced its acquisition of ReCor Medical, a portfolio company of Sofinnova Partners, for an undisclosed price. The Palo Alto, California-based medical device company specializes in the treatment of hypertension, a new area for Otsuka. ReCor was founded in 2009 by Sofinnova Partners and Professor Jacques Seguin, MD, who... Read More »
Veritas Capital Doubles Down on Digital Health

Veritas Capital Doubles Down on Digital Health

by | Jun 20, 2018 2:40 pm | eHealth, Private Equity

Veritas Capital Management has made some aggressive moves into the digital health space in recent years. Its investment focus is on companies that provide critical products and services, not just in healthcare, but also in aerospace and defense, communications, energy and education. So its recent activity is interesting, and expensive. In April 2016, Veritas paid $820 million to acquire Verisk Health from its parent, Verisk Analytics, Inc. (NASDAQ: VRSK). Verisk Health provides data services, analytics and advanced technology to support value-based healthcare delivery and payment systems. At the time of the sale, it had 350 clients in the United States. The price consisted of $720 million... Read More »
Sperm and Egg Bank Merges with Stem Cell Company

Sperm and Egg Bank Merges with Stem Cell Company

by | Jun 20, 2018 12:27 pm | Other Services, Private Equity

June is thought to be the most popular month for weddings, and new beginnings. That wasn’t what sparked the merger of California Cryobank and Cord Blood Registry (CBR) on June 15, but it certainly put marriage and families front and center. California Cryobank, a portfolio company of Longitude Capital and NovaQuest Capital, is the world’s leading donor sperm and donor egg bank. The private equity firms acquired the company in August 2014 for an undisclosed amount, and less than four years later have sold it to GI Partners in San Francisco. That price was also not disclosed. In a separate transaction, GI Partners acquired CBR, the world’s largest stem cell collection and... Read More »
Envision Healthcare Sells to KKR for $9.9 Billion

Envision Healthcare Sells to KKR for $9.9 Billion

by | Jun 14, 2018 2:19 pm | Physician Medical Groups, Private Equity

It’s been a bumpy road for Envision Healthcare (NYSE: EVHC). The company went public in 2013, with revenues of $3.7 million. In 2018, it is going private with KKR & Co. (NYSE: KKR), with revenues of $8.0 billion. In 2014, Envision operated American Medical Response, Inc., an air ambulance company; EmCare Holdings, provider of physician practice management services for emergency departments, inpatient physician services or hospitals; and practice management services company Evolution Health. Since then, it acquired seven physician practices, beginning with Phoenix Physicians, LLC in Fort Lauderdale, Florida ($170 million, June 2014) to Emergency Physicians Medical Group ($12o... Read More »