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ArchiMed-Backed NAMSA Acquires CRI
NAMSA, a portfolio company of ArchiMed since September 2020, announced on July 18 its acquisition of Germany-based CRI. The addition of CRI to NAMSA is a significant move for NAMSA in Germany that enhances and expands its CRO offerings throughout Europe and across all markets. The price and terms of the transaction are undisclosed. CRI, The Clinical Research Institute, is a German-based full-service contract research organization (CRO) for phase III and IV clinical trials. NAMSA is a global medical device research company providing a range of services to improve efficacy, non-clinical and clinical safety of medical devices, IVDs and combination products. According to data captured in the... Read More »
Private Equity Activity Surges in Q2
Despite some market woes, private equity remained bullish in the healthcare market for the second quarter of 2023. Deal volume from PE hit 216 transactions, a significant increase from the 191 announced in the first quarter of 2023, according to data captured in the LevinPro HC platform. The surge in PE activity helped push overall M&A activity to 586 deals in Q2, an 8% jump from volume in the first quarter. The pace of M&A might come as a surprise, considering some of the headwinds in the industry. Labor issues and high-interest rates have persisted throughout the year, and new reimbursement changes have hit the industry, especially some industry giants. Envision Healthcare,... Read More »
UnitedHealth Group Reports 16% Growth YoY, Expanding Optum Network and Embracing Biosimilars
UnitedHealth Group Incorporated (NYSE: UNH), one of the largest health insurers in the United States, reported its second quarter financial results on Friday, July 14. When we covered UnitedHealth Group during the last earnings season, the company demonstrated positive performance and balanced growth across its Optum and UnitedHealthcare business segments. This trend seems to have persisted into Q2, with UnitedHealth Group continuing to report strong contributions from both segments, even as UnitedHealth continued to invest to support growth. During Q2:23, UnitedHealth reported group revenues of $92.9 billion, up 15.6% year-over-year and surpassing analysts’ estimates of $91 billion.... Read More »
Atlas Clinical Research Acquires Suburban Research Associates
Atlas Clinical Research announced the addition of Suburban Research Associates to its site network, marking the second clinical research site partnership for the platform. Atlas previously formed a strategic partnership with Rochester Clinical Research in April 2023. Specializing in psychiatric research, Suburban will seek to expand its research impact and leverage Atlas’ site connectivity to better serve trial patients. According to data captured in the LevinPro HC database, this transaction represents the 14th clinical trials acquisition of 2023. Founded in 1999 by Dr. Shivkumar Hatti, Suburban Research Associates is a clinical research site conducting psychiatric research from its... Read More »
Eli Lilly to Acquire Boston-Based Biotech Versanis
Eli Lilly and Company and Versanis announced on July 14 a definitive agreement for Lilly to acquire Versanis. Under the terms of the agreement, Versanis shareholders could receive up to $1.925 billion in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain development and sales milestones. Versanis is a Boston-based, clinical-stage biopharmaceutical company focused on the development of new medicines for the treatment of cardiometabolic diseases. Versanis’ lead asset is bimagrumab, a monoclonal antibody that binds activin type II A and B receptors to block activin and myostatin signaling. Eli Lilly and Company is headquartered in Indianapolis,... Read More »
Sendero Capital & Angelo Gordon Joint Venture Acquires New Haven MSA MOB
JLL Capital Markets announced on July 12 that it advised on the acquisition of a 53,120-square-foot medical office building (MOB) in Hamden, Connecticut. According to data captured in the LevinPro HC database, this represents the 120th MOB transaction of 2023 JLL represented Sendero Capital and Angelo Gordon, who have formed a programmatic joint venture (also arranged by JLL) for up to $300 million in investments in outpatient healthcare real estate over the next two years, in the acquisition. The purchase of the Hamden MOB is the first acquisition as part of the joint venture, which will focus on value-add and core plus outpatient medical office and surgery center assets throughout the... Read More »
PE-Backed Vantage Surgical Solutions Acquires Ophthalmic Surgical Solutions
Vantage Surgical Solutions, a portfolio company of private equity firm Pharos Capital Group, announced its acquisition of Ophthalmic Surgical Solutions (OSS). According to data captured in the LevinPro HC database, this transaction represents the 68th Medical Devices transaction of 2023. Founded in 2015, OSS is a Lecompton, Kansas-based company specializing in ophthalmic surgical equipment and services. Vantage Surgical Solutions is a leading provider of mobilized surgical solutions. Vantage has been equipping facilities for specialty surgical services since 1991, with customers in 23 states. The company currently delivers cataract surgery equipment, IOLs, instrumentation, disposables,... Read More »
Fortis Life Sciences Acquires International Point of Care
Fortis Life Sciences, backed by Boston-based private equity firm Summit Partners, has acquired Toronto-based International Point of Care (IPOC). IPOC specializes in developing and manufacturing diagnostic components. IPOC serves many of the leading global diagnostic companies enabling the commercialization of new immunodiagnostic and molecular diagnostic technologies. Fortis Life Sciences partners with diagnostics and life sciences companies to custom-design, validate and manufacture proprietary solutions to solve their most difficult development problems. Fortis serves a global customer base and has offices worldwide including four R&D sites and three GMP and ISO 13485 compliant... Read More »
PurposeCare Acquires 3 Midwestern Home-Based Care Agencies
Chicago-based PurposeCare is expanding with the acquisition of three Midwestern home-based care agencies, Scott’s Home Healthcare and Attentive Personal Care, which are both located in Indiana, as well as Choice Nursing & Home Health in Ohio. Scott’s Home Healthcare is a family owned healthcare service provider for individuals and families in and around Kokomo, Indiana. The company specializes in Medicare skilled nursing in-home health services. Attentive Personal Care is an in-home care provider serving Indianapolis, Indiana and the surrounding area. Attentive Personal Care offers non-medical services in the home, such as meal preparation, housekeeping and transportation. Based in... Read More »Schedule a demo
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