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Unchained Labs Sold to The Carlyle Group
Private equity is branching out. Firms are usually swarming the physician group and behavioral health markets, building regional platforms, but we’re now seeing plenty of activity in new sectors, such as healthcare technology and research organizations. With fields such as diagnostics and gene therapy on the rise, it only makes sense for private equity to want a stake in the game. Last week, D.C.-based The Carlyle Group LP (NASDAQ: CG) announced it was buying Unchained Labs from Novo Holdings A/S, Canaan Partners, and TPG Biotech. The deal is valued at $435 million, or 5.80x Unchained Labs’ estimated 2021 revenue. Unchained Labs is a life science tools company focused on solving problems... Read More »
Pfizer Acquires Amplyx Pharmaceuticals
After getting its Covid-19 vaccine to market in record time, Pfizer Inc. (NYSE: PFE) is back on the acquisition trail. The pharmaceutical giant has purchased Amplyx Pharmaceuticals, Inc. for an undisclosed sum. Amplyx Pharmaceuticals is a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx’s lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections. In addition to Fosmanogepix, with this acquisition, Pfizer has secured ownership of Amplyx’s early-stage pipeline that includes potential antiviral... Read More »
USOSM Announces Three Deals in April
The M&A market for physician groups has been booming this year, with 132 deals on the books through the end of April, according to search results in our Healthcare Deals Database. Strategic buyers, health systems and private equity firms are quickly expanding their regional and national platforms, capitalizing on the still-fragmented market. Enter U.S. Oral Surgery Management (USOSM), which just announced three deals in April, widening its footprint across the southern United States. USOSM, a portfolio company of RiverGlade Capital and The Thurston Group, is a specialty management services company focused on oral and maxillofacial surgeons. The... Read More »
Humana Takes Full Ownership of Kindred at Home
One of the largest healthcare insurance companies in the United States is taking complete ownership of one of the largest home health providers. Humana Inc. (NYSE: HUM) has acquired the remaining 60% stake in Kindred at Home that it did not own from both TPG Capital and Welsh, Carson, Anderson & Stowe (WCAS). The 60% stake, including debt, is valued at $5.7 billion, giving Kindred at Home a total equity value of $8.1 billion, but the pricing is a little more complicated than, at least according to Humana. Kindred at Home (KAH) employs approximately 43,000 caregivers providing home health, hospice, and community care services to over 550,000 patients annually. The company has locations... Read More »
Health Care M&A Deals, April 30, 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 is Humana’s acquisition of the remaining stake in Kindred at Home, valued at $5.7 billion, including debt, from TPG Capital and Welsh, Carson, Anderson & Stowe. The three companies bought Kindred together in 2017 deal valued at $4.1 billion. Including Humana’s initial investment in 2017, the company has paid $7.1... Read More »
Molina Healthcare Expands in Texas
The Managed Care-giant Molina Health, Inc. (NYSE: MOH) has announced a deal with Cigna (NYSE: CI). Molina is purchasing Cigna’s Texas Medicaid and Medicare-Medicaid Plans (MMP) for $60 million. As of December 31, 2020, Cigna’s Texas MMP business served approximately 48,000 Medicaid members in the STAR+PLUS program in the Hidalgo, Tarrant, and Northeast service areas, and approximately 2,000 MMP members in the Hidalgo service area. In 2020, the business generated a premium revenue of approximately $1.0 billion. This transaction is a huge boost into the Texas Medicaid and Medicare market, another step in Molina’s path for growth. Throughout 2020, the company announced a string of... Read More »
KNR Therapy Grows Florida Footprint
Activity in the Behavioral Health Care sector surged in the first quarter of 2021, rising 76% in deal volume compared with the fourth quarter of 2020 and 85% compared with activity in Q1:20, according to search results in our Healthcare Deals Database. Much of that demand came from the unfortunate mental health stress caused by the Covid-19 pandemic, and even with a “return-to-normal life” on the horizon, that demand doesn’t seem to be subsiding. However, it’s not just counseling and clinical services; other specialties such as autism treatment services are highly sought after. Even with all that activity, there is still room for new players to enter the M&A market, looking... Read More »
Health Care M&A Deals, April 23, 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 is Accolade, Inc.’s acquisition of PlushCare, a leading virtual primary care and mental health platform that offers virtual doctor visits to patients in all 50 U.S. states. The deal was valued at $390 million, consisting of $40 million in cash and $340 million in Accolade common stock. Additionally, Accolade will pay up to an additional $70... Read More »
And the Audience Says…
Last week, we hosted a webinar tackling the differences between two classes of seniors housing communities: “A” quality versus “B” quality. Often, buyers and investors of one group do not do much business in the other, so it is worth breaking out the differences in valuation, operations and investment strategies. So, for the last several years in our annual Senior Care Acquisition Report, we have divided seniors housing properties into these categories based on a combination of their age, size and location. Leading up to the pandemic, prices paid for “A” quality properties were surging as labor and occupancy headwinds seemed to be affecting “B” (and “C”)... Read More »Schedule a demo
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