Aziyo Biologics Buys CorMatrix Assets
Aziyo Biologics, Inc. is finally gaining some traction. The company was formed in November 2015 by HighCape Partners, a growth equity fund focused on commercial-stage life sciences companies. Deerfield Management Co. joined HighCape in providing capital for the transaction. Aziyo develops customized tissue products for use in orthopedic, spinal, sports medicine, and dermal applications. On May 31, 2017, the company announced the completion of an asset purchase agreement with CorMatrix® Cardiovascular, Inc. for the purchase of all CorMatrix commercial assets and related intellectual property. CorMatrix develops biomaterial devices that harness the body’s own innate... Read More »More Big Deals for Doc Groups
The Physician Medical Group sector started off the year strong and hasn’t lost any momentum as physician groups continue seeking scale to survive. As of May 26, 2017, 77 deals have been announced. The largest disclosed deal was Optum’s (NYSE: UNH) $3.3 billion acquisition of Surgical Care Affiliates, Inc. (NASDAQ: SCAI) in January. In May, the second largest deal of the year was announced. The acquirer, Surgery Partners (NASDAQ: SGRY), operates surgical facilities in the United States. Its target is National Surgical Healthcare, a portfolio company of Irving Place Capital, for $760 million. National Surgical Healthcare owns and operates 21 surgical facilities in partnership with local... Read More »Hospital Deals Rebound in May 2017
Hospital merger and acquisition activity was fairly quiet in the first four months of the year, totaling 24 deals that made to a definitive agreement or beyond. Then came May, with a combined total of 13 transactions announced in the first four weeks (through May 26). Deal volume in the hospital sector through May 26 now totals 37 transactions, targeting 79 hospitals with 13,854 beds. The nearly $2.3 billion combined spending includes the $1.4 billion just announced by Medical Properties Trust (NYSE: MPW), which acquired the real estate assets of 10 acute care hospitals and one behavioral health facility (approximately 2,400 beds) belonging to IASIS Healthcare, a TPG portfolio company.... Read More »
Follow the Funding, May 2017
Introducing a new monthly feature focused on various tranches and rounds of funding for healthcare ventures, startups and funds. Links indicate target companies and lead investors. TargetInvestorsAmountDate Catalia HealthKhosla Ventures$2.5 million seed extension roundMay 1, 2017 ReThink MedicalEmergent Medical Partners, Norwich Ventures and Launch Capital$3 million Series AMay 1, 2017 Teewinot Life Sciences CorporationTuatara Capital$12.3 million Series BMay 1, 2017 TetraGeneticsJDRF T1 FundNot disclosedMay 2, 2017 Lantern PharmaBios Partners, GPG Ventures and others$3.7 million Series AMay 2, 2017 ExoCoBio Inc. SBI InvestmentSBI Investment, Atinum Investment, ID Ventures and... Read More »Behavioral Health Care Market Is Healthy, Not Frothy
The Behavioral Health Care M&A market has enjoyed six years of strong growth, following passage of the Affordable Care Act in 2010. The market peaked at 41 deals announced in 2016, with $3.4 billion in combined spending. Despite the uncertainty surrounding the ACA’s replacement, merger and acquisition activity is still strong in the early months of 2017. Tailwinds are stronger than headwinds. Destigmatization of addictions, mental health issues and other disorders has brought attention to the care needed by millions. There is still significant, unmet need in many sub-sectors, such as acute care psychiatric beds. De novo building is easing some of that need, and could lead to more... Read More »Schedule a demo
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