Arizona Urgent Care Market Tightens
Banner Health just threw its hat in the ring for the title of largest urgent care operator in Arizona. The not-for-profit health system, which operates 29 hospitals in seven states, just announced its acquisition of 32 Urgent Care Extra facilities in that state, primarily around Phoenix and Tucson. The clinics will be rebranded as Banner Urgent Care and join three other urgent care centers currently run by the health system. Two of those are in Colorado, and one is in Arizona. Banner plans to have as many as 50 urgent care centers in Arizona by the end of 2017, which would make it the largest urgent care operator in the state. Banner may have some competition from two other... Read More »Scintilla Goes Deep into Pain Management
Scintilla Pharmaceuticals, Inc., a subsidiary of Sorrento Therapeutics Inc. (NASDAQ: SRNE), is spending up to $270 million to expand its pain management pipeline. On August 8, Scintilla announced its purchase of SCILEX Pharmaceuticals, Inc. for an upfront payment of $70 million. Scilex’s lead product candidate, ZTildo™ (lidocaine patch 1.8%) is being developed for the treatment of intractable cancer pain. In July 2015, SCILEX filed a new drug application (NDA) for ZTildo™, and is planning an NDA re-submission for a potential FDA action date in mid-2017. SCILEX’ product pipeline includes line extensions of ZTildo™ as well as other novel patch technologies in development. The patch... Read More »Patient Experience Data Draws Big Money
EQT, a Swedish private equity firm with approximately €30 billion in raised capital, announced it was taking Press Ganey Holdings (NYSE: PGND) private with a purchase price of $2.35 billion, or $40.50 a share. Press Ganey made its mark by offering patient experience solutions to measure and analyze data collected directly from patients, including patient experience insights measured through several electronic modes; and caregiver engagement solutions comprising physician, nurse and, employee alignment and engagement solutions. It also provides clinical and quality solutions, such as Nursing Quality Indicators, a program that collects data on a set of nursing-sensitive process, structure,... Read More »First Half of 2016 Shows Strength in M&A
Ever since the rally in health care mergers and acquisitions began in 2014, we’ve been waiting for the inevitable slam-on-the-brakes quarter. That rally was sparked by the advent of newly insured families and individuals entering the healthcare market, beginning on January 1, 2014. Thanks to the Affordable Care Act, passed in 2010, health care M&A topped 1,000 transactions that year and has never looked back. Isn’t it about time for the party to end? Not according to our data for the first six months of 2016, compared with the same period in 2014 and 2015. (But if you read our monthly M&A roundup on page 18, you may have second thoughts.) In the first half of 2016, deal volume... Read More »BioClinica Adds Compass Research
Private equity-backed Bioclinica Inc. expanded its clinical research offerings with the July 2016 acquisition of Compass Research, LLC, a Florida-based clinical research site network that has direct access to a number of specialized populations with neurodegenerative disorders and other diseases found in aging demographics. The acquisition solidifies Bioclinica’s position as a leading global research network, and the only one with investigator sites in the United States, Europe, Latin America and Asia. Compass Research’s state-of-the-art facilities in Orlando have supported more than 1,300 trials and contributed to the FDA approval of more than 80 biopharmaceutical products.... Read More »Schedule a demo
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