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AstraZeneca Acquires Neogene Therapeutics for up to $320 Million
AstraZeneca has acquired Neogene Therapeutics in a transaction valued at up to $320 million. Consideration will include an initial payment of $200 million upon closing, and a further amount of up to $120 million in contingent, milestones-based and non-contingent consideration. The transaction is expected to close in the first quarter of 2023. Upon completion of the transaction, Neogene Therapeutics will operate as a wholly owned subsidiary, with operations in Amsterdam, The Netherlands, and Santa Monica, California. Neogene Therapeutics is a clinical-stage biotechnology company focused on discovering, developing and manufacturing transformative TCR therapies targeting neoantigens in solid... Read More »
Investor Interest & Demand Grow for Several Physician Medical Group Specialties
The Physician Medical Groups (PMG) sector is one of the most frequently discussed in healthcare M&A and one of the most active markets covered by LevinPro HC. Since the start of 2022 through November 18, 2022, 541 PMG deals have been announced, according to the LevinPro HC database, representing 25% of the 2,172 healthcare deals announced during that period. With the prominence of the PMG sector in the healthcare M&A market, we often talk about the dental, dermatology, eye care and gastroenterology specialties as they are the most active. But specialties such as podiatry, cardiology, fertility, women’s health and OB/GYN are on the rise and increasingly attracting more... Read More »
A Resilient Industry: M&A Trends in Specialty Pharmacy
Significant changes have swept the specialty pharmacy market over the past several years. It was once a niche in the pharmacy industry but has grown significantly in market size. According to a report by Axtria, specialty drug spending is growing and constituted about 46% ($222.9 billion) of all prescription drugs in 2019, compared with 34.9% ($132 billion) in 2014. These numbers make sense with the tailwinds that pushed the industry, such as an aging population in the U.S. creating a greater need for medications that treat chronic and complex diseases. Most of the changes in the market have come from M&A activity. Consolidation has swept the industry, with a few players controlling... Read More »
Scanmed Acquires Ars Medical
Scanmed, backed by Abris Capital Partners, announced its acquisition of Ars Medical on November 24. With this acquisition, Scanmed will become the largest independent healthcare provider in Poland, broadening and strengthening Scanmed’s position. Additionally, the acquisition will expand the company’s presence in north-west Poland. The financial terms of the acquisition were not disclosed. Scanmed is a healthcare provider in Poland, offering a wide range of medical services within primary care, outpatient specialist consultations, diagnostics and inpatient/hospital treatment. The group operates in more than 40 locations across Poland and runs two multi-specialist hospitals, 13... Read More »
PE-Backed Excelsior, Rendr Merge to Serve the Asian American Community in New York
Private equity-backed Excelsior Integrated Medical Group and Rendr announced on November 28 that they will combine to form a New York City-based integrated multi-specialty medical group and related professional management service organization dedicated to providing value-based health care to the Asian community. The combined enterprise, which will operate under the name Rendr, will include approximately 200 providers operating out of nearly 100 medical sites across the New York City boroughs of Brooklyn, Manhattan, Queens and Staten Island. The new venture is backed by Ascend Capital Partners and Kain Capital LLC, two healthcare-focused private equity firms. Rendr, backed by Ascend Capital... Read More »
Cloud 9 Software Acquires Focus Ortho
Cloud 9 Software, a Roswell, Georgia-based provider of cloud-based practice management systems, acquired Birmingham, Alabama-based Focus Ortho. The deal was announced on November 28, 2022. With the acquisition, Cloud 9 Software will increase its customer footprint and accelerate investments in its platform and service delivery. Cloud 9 will continue to support the availability of the Focus Ortho platform for current customers. Focus Ortho team members will integrate to become part of the Cloud 9 organization. Terms of the deal were not disclosed. Focus Ortho offers a cloud-based orthodontic practice management software platform that provides support to hundreds of offices across the U.S.... Read More »
Graybug Vision, CalciMedica Announce Merger
Graybug Vision, Inc. and CalciMedica Inc. have announced a merger agreement. Following the merger, the combined company will be headquartered in La Jolla, California. Rachel Leheny, Ph.D., will serve as CEO of the combined company. Graybug equity holders are expected to collectively own approximately 29% of the combined company, and pre-merger CalciMedica equity holders are expected to collectively own approximately 71% of the combined company. With approximately $35 million in cash and cash equivalents anticipated from the combined company, including a private placement financing expected to occur immediately prior to the merger closing, the combined company is expected to have a... Read More »
Great Plains Health Acquires Eye Surgeons of Nebraska
Great Plains Health has acquired North Platte, Nebraska-based Eye Surgeons of Nebraska. Beginning on January 1, 2023, the clinic will operate under its new name, Great Plains Health Eye Institute. Also based in North Platte, Great Plains Health is a fully accredited, 116-bed, acute-care regional medical center serving western and central Nebraska, northern Kansas and southern South Dakota. With 90 physicians representing nearly 30 medical specialties, the Great Plains Health system offers advanced health care, including heart and vascular, cancer and orthopedic surgery services. Great Plains Health is a Level III trauma center and all of its emergency department physicians are... Read More »
Imagen Dental Partners Acquires O’Bryan Advanced Dentistry
Imagen Dental Partners has acquired O’Bryan Advanced Dentistry in Coos Bay, Oregon. O’Bryan Advanced Dentistry provides cosmetic, restorative and preventive dentistry as well as dental implants and same-day crowns. Imagen Dental Partners is a dental partnership organization (DPO) founded in 2020 that partners with dental practices, invests in them and supports their growth. Imagen Dental Partners supports practices in California, Arizona, Texas, Minnesota, Florida, Georgia, South Carolina, Tennessee, Kentucky, Illinois, Indiana, Ohio, Michigan, Oregon and Wisconsin. Terms of the deal were not disclosed. According to the LevinPro HC database, this was the 182nd dental practice transaction... Read More »Schedule a demo
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