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PE-Backed MedPharm Merges With CDMO Tergus Pharma
MedPharm, an Ampersand Capital Partners portfolio company, announced on July 8 a merger with Tergus Pharma, backed by Great Point Partners. The combined organization will operate under the MedPharm name, establishing a leading, end-to-end contract development and manufacturing organization (CDMO) with robust scientific, clinical trial manufacturing and commercial production capabilities. Tergus Pharma is a CDMO that provides formulation development, in vitro permeating testing, in vitro release testing, skin biology, analytical services and clinical manufacturing services for branded and generic dermatology products. MedPharm is an end-to-end contract service provider of topical and... Read More »
Specialized Dental Partners Acquires McMurtrey Endodontics
On July 3, Specialized Dental Partners (SDP) announced that it acquired its second Colorado practice of 2024 with the acquisition of McMurtrey Endodontics. McMurtrey Endodontics operates out of one location in Westminster, Colorado. In addition to general dentistry, it provides endodontic services. According to its website, it is run by two providers. A portfolio company of private equity group Quad-C Management, SDP is a leading specialty dental service organization that provides comprehensive support services to endodontic specialists across the United States. According to data captured in the LevinPro HC database, this acquisition represents the 260th Physician Medical... Read More »
Lilly Acquires Morphic Holding, Inc. for $3.2 Billion
On July 8, Lilly (formally known as Eli Lilly and Company) announced that it acquired Morphic Holding, Inc. for an estimated $3.2 billion. Lilly plans to acquire all outstanding shares of Morphic for $57 per share in cash. The purchase price at closing is a premium of around 79% to the closing stock price on Friday. Morphic Holding is a Massachusetts-based biotechnology company that is leading the development of new oral integrin drugs for inflammatory bowel diseases. Its proprietary MInT drug discovery platform combines an expert understanding of integrin dynamics and analytical capabilities with foundational structural biology insights and ongoing input from the Massachusetts-based... Read More »
Pentixapharm Acquires Glycotope’s Target Discovery Unit
On July 3, Pentixapharm announced that it entered into an agreement to acquire certain discovery assets from Glycotope, a Berlin, Germany-based biotechnology company. The assets are aimed at various oncology targets and could be turned into radiopharmaceuticals. Pentixapharm is a radiopharmaceutical development company founded in 2019, with its headquarters in Würzburg, Germany. It develops PentixaFor and PentixaTher, two small peptide-based radiopharmaceuticals that specifically target the CXCR4-receptor expressed in hematological and solid cancers, as well as cardiovascular and endocrine diseases. This acquisition is aimed at doubling Pentixapharm’s pipeline of... Read More »
HiRO Acquires DeltaMed Solutions, Continues to Expand U.S. Footprint
Harvest Integrated Research Organization (HiRO), has announced the successful acquisition of DeltaMed Solutions, headquartered in Somerset, New Jersey. The acquisition, advised by Evercore as financial advisor, marks HiRO’s third CRO acquisition since its establishment in 2020. DeltaMed Solutions is a global life sciences contract research organization (CRO) with a global footprint in the United States and China. DeltaMed Solutions, headquartered in New Jersey, boasts a team of industry professionals with 15-30 years of expertise in serving large to mid-sized pharmaceutical and biotechs. HiRO is a globally oriented CRO with its headquarters in Shanghai, China. With global operations... Read More »
PE-Backed I-MED Enters U.S. Market With Teleradiology Acquisition
Private equity-backed I-MED Radiology Network announced on July 2 that it is entering the U.S. market with the acquisition of San Diego-based teleradiology group StatRad. Founded in 1995, StatRad bills itself as the second largest teleradiology provider in the States. Privately owned by radiologists, StatRad employs more than 90 United States-based physicians performing reads for hundreds of clients and thousands of patients every day, according to its website. I-MED Radiology Network is one of Australia’s leading radiology providers, employing 450 doctors and operating 250 clinics located across Australia. Currently, teleradiology accounts for about 10% of I-MED’s revenue, with its... Read More »
Google Set to Acquire Home Healthcare App CareClic247
Google announced on July 2 that it is set to acquire CareClic247, a prominent home healthcare app. The addition of CareClic247 amplifies Google’s healthcare portfolio and complements Google’s existing healthcare technologies. CareClic247 has developed an app that connects medical and non-medical, in-home caregivers for physically and mentally impaired seniors. The app can send a doctor, nurse or a caregiver to a patient’s home 24/7 on demand. Google focuses on online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, consumer electronics and artificial intelligence. Google’s parent company is Alphabet Inc.... Read More »
ACG NY Healthcare Conference Recap
Last week, the LevinPro HC team ventured to the upper east side of Manhattan to attend the 16th Annual ACG New York Healthcare Conference. It’s usually a short (but productive) evening of networking and honest conversations around the healthcare M&A market and private equity, and this year was no different. The keynote speaker was Jonathon Bush, Founder and CEO of Zus Health, a digital health platform offering care-coordination programs and analytics for providers. If Mr. Bush’s name rings a bell, he was the co-founder of athenahealth, another eHealth company offering a suite of electronic health record and patient engagement services. Moderated by Andrew... Read More »
LITALICO Acquires Developmental Disability Centers of Nebraska for $50 Million
On June 28, LITALICO Inc. announced that it acquired Disability Centers of Nebraska (DDCN) for $50 Million. LITALICO will pay $29.5 million upfront and $20.5 million in an earn-out over three years. DDCN is a Medicaid-certified disability services provider based out of Omaha, Nebraska. It provides care for persons with disabilities and/or behavioral disorders. It was founded in 2015 and has 17 group homes in Nebraska. LITALICO is one of Japan’s largest intellectual and developmental disability (IDD) providers. According to the company’s financial reports, for the first quarter of 2024, LITALICO reported revenue of $7.72 billion. Following the acquisition, LITALICO... Read More »Schedule a demo
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