


The Healthcare SPAC Market
For the past two years, the healthcare M&A market has seen a surge of deals involving SPACs, or special purpose acquisition companies created solely as a vehicle for emerging companies to go public. These deals, called a de-SPAC transaction, seem to be surfacing once a week in the healthcare market, a trend not unique to this industry either. Here’s how they start: a sponsor company or investor, sometimes a private equity firm or investment firm, creates a public shell company and then raises funds and capital, called a private investment in public equity, or PIPE, under the idea that it will use those funds to find a target private company. Investors can buy into the PIPE at a low... Read More »
The Oncology Institute Goes Public
Even SPACs are getting involved in the physician medical group market. The Oncology Institute of Hope and Innovation, the largest community oncology practice in California, just announced it was going public in an $842 million merger with DFP Healthcare Acquisitions Corp. (NASDAQ: DFPH), a SPAC sponsored by an affiliate of Deerfield Management Company, L.P. The Oncology Institute was formed just this past March by a joint venture between Havencrest Healthcare Partners, M33 Growth and ROCA Partners. The Oncology Institute has more than 80 board-certified hematologists/oncologists spread throughout 50 offices in Arizona, California and... Read More »
Pear Therapeutics Goes Public
Another week, another SPAC deal. Pear Therapeutics, Inc., a leader in prescription digital therapeutics (PDTs), has announced it is merging with Thimble Point Acquisition Corp. (NASDAQ: THMA), a special purpose acquisition company managed by the Pritzker Vlock Family Office. Pear develops clinically validated software-based therapeutics to provide better outcomes for patients, smarter engagement and tracking tools for clinicians, and cost-effective solutions for payers. The combined business is expected to have a pro forma equity value of approximately $1.6 billion. The new company, Pear Holding Corp., secured a $125 million PIPE from investors including 5AM Ventures, Arboretum... Read More »