DiaCarta to Become a Publicly Listed Company Through Merger with HH&L Acquisition Co.

DiaCarta to Become a Publicly Listed Company Through Merger with HH&L Acquisition Co.

by | Oct 17, 2022 11:26 am | Laboratories, MRI & Dialysis, SPAC | 0 comments

HH&L Acquisition Co., a publicly traded special purpose acquisition company (SPAC) targeting the healthcare sector in Asia, and DiaCarta, Ltd., a precision molecular diagnostics company and developer of novel oncology and infectious disease tests, announced on October 14 that they have entered into a definitive business combination agreement. The transaction implies a pre-money equity value of $460 million for DiaCarta on a fully diluted basis. The transaction is expected to close in the first quarter of 2021 and will position DiaCarta to capitalize on significant future growth within existing and new markets. Upon closing of the transaction, the combined company will be listed on the... Read More »
The Healthcare SPAC Market

The Healthcare SPAC Market

by | Aug 10, 2021 8:37 am | Healthcare M&A News Leads, SPAC | 0 comments

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

The Oncology Institute Goes Public

by | Jul 6, 2021 8:33 am | Physician Medical Groups, SPAC | 0 comments

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 »
The Healthcare SPAC Market

Pear Therapeutics Goes Public

by | Jun 29, 2021 8:21 am | Biotechnology, SPAC | 0 comments

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 »
P3 Health Partners Goes Public

P3 Health Partners Goes Public

by | Jun 1, 2021 9:43 am | Other Services, SPAC | 0 comments

The private equity-backed P3 Health Partners is going public in a multi-billion-dollar merger with a SPAC.  P3 Health Partners is merging with Foresight Acquisition Corp. (NASDAQ: FORE), and the combined company will have an estimated post-transaction enterprise value of $2.3 billion with an estimated equity value of $2.4 billion from the contribution of at least $180 million in cash proceeds from the transaction. P3 Health Partners was a portfolio company of Chicago Pacific Founders, which is exiting its investment in the company.   P3 Health Partners is a patient-centered and physician-led population health management company that supports providers, physicians and practices as they... Read More »

Science 37 Goes Public in SPAC Deal

by | May 17, 2021 2:18 pm | eHealth, SPAC | 0 comments

Another week, another SPAC deal. This time, Science 37, Inc. is merging with LifeSci Acquisition II Corp. (NASDAQ: LSAQ), a special purpose acquisition company (SPAC) targeting the biopharma, medical technology, digital health and healthcare services sectors. The transaction values Science 37 at a total enterprise value of $1.05 billion and a fully distributed equity value of approximately $1.3 billion at signing. Science 37 shareholders could also get $125 million in achievement milestones.  Science 37 developed the Decentralized Clinical Trial Operating System, which provides workflow coordination, evidence generation and data synchronization, allowing companies to conduct fully... Read More »