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Roche Holding Acquires GenMark Diagnostics
Last week, the pharmaceutical giant Roche Holding AG (SIX: RO) announced a new acquisition for GenMark Diagnostics (NASDAQ: GNMK), a Carlsbad, California lab services company. GenMark Diagnostics is a leading provider of multiplex molecular diagnostic solutions designed to enhance patient care, improve key quality metrics and reduce the total cost-of-care. GenMark’s eSensor XT-8 and ePlex systems are designed to support a broad range of molecular diagnostic sample-to-answer tests with compact, easy-to-use workstations and self-contained, disposable test cartridges. The deal is valued at $1.8 billion cash, or $24.05 per share, a premium of... Read More »
DocGo Goes Public Via SPAC
Another week, another SPAC deal. Ambulnz, Inc., dba DocGo, has announced it is merging with Motion Acquisition Corp. (NASDAQ: MOTN), a special purpose acquisition company to create a publicly traded entity. DocGo, based in New York City, provides last-mile telehealth and integrated medical mobility services. Its medical mobility services offer on-demand service response and real-time vehicle location, as well as accurate estimated arrival times. The company serves 23 states in the U.S. and has operations in the U.K. By going public, DocGo hopes to continue growing its geographic footprint. The combined company has a pro forma equity value of approximately $1.1 billion and will have... Read More »
Takeda Adds Maverick Therapeutics
The pharmaceutical giant Takeda Pharmaceutical Co. Ltd. (NYSE: TAK) is back with a new acquisition. The company has announced the acquisition of Maverick Therapeutics, Inc for a pre-negotiated upfront payment as well as potential development and regulatory milestones totaling up to $525 million. This acquisition follows a multi-year collaboration between Takeda and Maverick, signed in 2017. Maverick Therapeutics is a privately held biopharmaceutical company pioneering conditionally active bispecific T-cell targeted immunotherapies. Its lead candidates are MVC-280 (now TAK-280) and MVC-101 (now TAK-186). TAK-186 is currently in a Phase 1/2 study for the treatment of EFGR-expressing solid... Read More »
WELL Health Builds Digital Health Portfolio
The Canadian-based company WELL Health Technologies Corp. (TSX.V: WELL) went on an acquisition spree in 2020, adding a plethora of smaller, digital health companies to build up its product portfolio. Last week, they continued that spree, announcing the acquisition of Intrahealth, a Vancouver-based healthcare software company. Intrahealth provides a suite of flexible software and electronic medical record solutions to a wide variety of customers including health authorities, hospitals, public health outpatient centers, community health, home care, ambulatory care and diverse health care professionals. WELL Health paid roughly CAD 15.4 million consisting of CAD 10.6 million in cash, CAD... Read More »
Quest Diagnostics Acquires Lab Division from Mercy
In an effort to expand its network, Quest Diagnostics (NYSE: DGX) has announced a deal with not-for-profit Mercy, a multi-state healthcare system. Quest is acquiring the health system’s outreach laboratory services business, which currently operates from 29 hospital laboratories and two independent clinic laboratories in Arkansas, Kansas, Missouri and Oklahoma. No terms were disclosed in the all-cash transaction, but under the agreement, testing associated with outreach lab services will transition to the Quest Diagnostics full-service laboratory in Lenexa, Kansas, and a network of rapid response laboratories across the region. Mercy will continue to wholly own and operate its hospital... Read More »
Health Care M&A Deals, March 12, 2021
The Health Care M&A deals chart is a selection of transactions announced during the prior week(s). The M&A transactions presented here are from our HealthCareMandA.com Deal Database, which is updated daily to provide our subscribers with the most up-to-date information and trends in the healthcare industry. The largest deal of the week by disclosed price is DocGo’s reverse merger with Motion Acquisition Corp. (NASDAQ: MOTN), a special purpose acquisition company to create a publicly traded entity. DocGo, based in New York City, provides last-mile telehealth and integrated medical mobility services. Its medical mobility services offer on-demand service response and real-time... Read More »The State of the Rehabilitation M&A Market
Throughout 2020, there wasn’t much to write about in the Rehabilitation sector. The industry was under regulatory pressure from CMS in the beginning of 2020, and then Covid-19 came around, making things even more difficult. Social distancing guidelines hindered in-person appointments, and we imagine that the effects of surgery cancellations at hospitals trickled down into this sector as well. U.S. Physical Therapy, Inc. (NYSE: USPH), one of the largest rehabilitation providers, saw a 13.8% drop in net patient revenue in 2020 compared with 2019, for instance. However, It was more difficult to discern the effects in the M&A market. The sector barely breaks double-digit deal volume on a... Read More »
CROs Are Back in Demand
Last year was not kind to contract research organizations (CROs). CROs typically provide discovery and development services to companies in the Medical Device, Pharmaceutical and Biotechnology sectors, conducting clinical trials and providing a wealth of R&D support. Demand for their services have seen a gradual rise over the last decade for a variety of reasons. An increasing number of start-ups have popped up in the Biotechnology sector, and they don’t have the resources or infrastructure that major players would have to oversee the complex R&D needed to bring a drug to market, so they often outsource much of that task to CROs. Second, big pharma and biotech are increasingly... Read More »
Kindred Healthcare Adds Two Rehab Hospitals
The healthcare services giant Kindred Healthcare, LLC is back in the M&A market. Much of the company’s activity has focused on partnerships and new development projects, but now Kindred is adding two rehabilitation hospitals with two separate joint ventures. The first deal was announced in partnership with Texas Health Resources, a faith-based, not-for-profit health system. The two companies have jointly taken control of Everest Rehabilitation Hospital of Keller, a 36-bed rehabilitation hospital located in the northern suburbs of Fort Worth, Texas that just opened in December 2020. The hospital will be renamed Texas Rehabilitation Hospital of... Read More »Schedule a demo
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