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Health Care M&A Deals, April 16, 2021
[et_pb_text admin_label=”Text”] 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 Thermo Fisher Scientific Inc.’s acquisition of PPD, Inc. for $20.9 billion, consisting of a payment of $17.4 billion and the assumption of $3.4 billion in net debt. PPD is a leading CRO providing broad, integrated drug development, laboratory and lifecycle management services. Its customers include... Read More »
Thermo Fisher Bets $20 Billion on Leading CRO
The laboratory and diagnostics giant Thermo Fisher Scientific Inc. (NYSE: TMO) announced a huge deal for an international contract research organization (CRO) last week. Thermo Fisher is buying PPD, Inc. (NASDAQ: PPD), a leading CRO providing broad, integrated drug development, laboratory and lifecycle management services. Its customers include pharmaceutical, biotechnology, medical device, academic and government organizations. The company has offices in 47 countries and more than 26,000 employees. Its headquarters is based in Wilmington, North Carolina. Thermo Fisher is offering $17.4 billion for PPD, or $47.50 per share for the company, a premium of approximately... Read More »
Summit Health Acquires Leading NJ Orthopedic Practice
Some might recall in 2019 the merger of CityMD, a portfolio company of Warburg Pincus and the leading urgent care provider in the New York metro area, and Summit Medical Group, a 900-plus physician multi-specialty group in New Jersey. The deal was a huge merger, combining a leading physician medical group with a robust urgent care network. The combined company, Summit Health, has more than 1,600 providers, 8,000 employees and over 200 locations in New Jersey and New York, as well as more than 130 providers and six locations in Central Oregon. And now, Summit Health has entered the M&A market. Last week, the company announced it was... Read More »
Sanofi Buys Tidal Therapeutics
The global pharmaceutical company Sanofi (NYSE: SNY) has announced the acquisition of Tidal Therapeutics, a biotechnology firm based in Cambridge, Massachusetts. Sanofi is paying $160 million upfront and up to $310 million upon achievement of certain milestones. Tidal Therapeutics is focused on developing nanoparticles that deliver mRNA to reprogram immune cells inside the body with applications in oncology and immune diseases. The company was seeded by Mission BioCapital, and joined by RA Capital, New Enterprise Associates, the Myeloma Investment Fund, the Multiple Myeloma Research Foundation’s venture philanthropy, MRL Ventures and AbbVie Ventures. The new technology platform will... Read More »
HealthEquity Adds Further to Expand Presence in HSA Market
The Utah-based managed care company HealthEquity, Inc. (NASDAQ: HQY) announced earlier this month the acquisition of Further, a leading provider of health savings accounts (HSA) and consumer-directed benefit administration services. HealthEquity is paying $500 million for Further, approximately 8.33x the company’s annualized revenue run-rate and 41.7x estimated EBITDA. Further is a leading provider of HSA and consumer-directed benefit administration services, and the nation’s ninth-largest HSA custodian overall. Further is also a technology leader in employer-funded Voluntary Employees’ Beneficiary Association (VEBA) trust administration. VEBAs are triple-tax advantaged health accounts... Read More »
Health Care M&A Deals, April 9, 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 Better Therapeutics, Inc.’s reverse merger with Mountain Crest Acquisition Corp II, a publicly traded special purpose acquisition company. The deal is valued at $187 million. Better Therapeutics is a prescription digital therapeutics company delivering cognitive behavioral therapy to address the root causes of cardiometabolic... Read More »
Better Therapeutics Goes Public
A San Francisco-based cognitive therapy company is going public through a SPAC. Better Therapeutics, Inc. is merging with Mountain Crest Acquisition Corp II (NASDAQ: MCAD), a publicly traded special purpose acquisition corporation. The deal is valued at $187 million, and existing shareholders will roll over 100% of their equity into the equity of the combined company. Better Therapeutics is a prescription digital therapeutics company delivering cognitive behavioral therapy to address the root causes of cardiometabolic diseases. The company’s platform blends clinical, behavioral, and psychological inputs into a series of therapy lessons and skill-building modules designed to isolate... Read More »
Microsoft Pushes Deeper Into Health With Nuance Buy
The technology and software giant Microsoft Corp. (NASDAQ: MSFT) is making another big push into the healthcare market. The company is buying Nuance Communications, Inc. for $19.7 billion ($56.00 per share) in cash, the largest transaction in the healthcare market of the year so far. The price is a 23% premium to the closing price of Nuance on Friday, April 9, and is valued at approximately 14.25x and 89.47x Nuance’s Q4:20 annualized revenue and EBITDA, respectively. Nuance provides conversational AI and cloud-based ambient clinical intelligence for healthcare providers. Nuance’s products include the Dragon Ambient eXperience, Dragon Medical One and PowerScribe One for radiology... Read More »
What’s Next for eHealth?
The eHealth market is as active as ever. Digital health companies were in hot demand throughout 2020, with 246 deals on the books for last year, an annual record for the sector. In the first quarter of 2021, we already have 102 deals, according to search results in our Healthcare Deals Database. In 2020, it was all about virtual care and telehealth, exemplified by eHealth deals such as Teladoc Health, Inc.’s (NYSE: TDOC) $18.5 billion acquisition of Livongo Health, Inc. or the $1.35 billion reverse merger of UpHealth and Cloudbreak Health with Oaktree Acquisition Corp., a special purpose acquisition company. Much of the demand in eHealth was due to the Covid-19 pandemic, but other... Read More »Schedule a demo
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