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ICON Acquires PRA Health Sciences
The contract research organization giant ICON plc (NASDAQ: ICLR) is growing its market reach through the acquisition of PRA Health Sciences, Inc. (NASDAQ: PRAH). The deal is valued at $12 billion, with the per share merger consideration consisting of $80 in cash and 0.4125 shares of ICON stock. The consideration represents an approximately 30% premium to PRA’s closing price as of February 23, 2021. The transaction value comes out to around 3.77x revenue and 20.2x EBITDA, annualized. PRA is one of the world’s leading global contract research organizations by revenue, providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries.... Read More »
Merck Boosts Autoimmune Portfolio With New Deal
The pharmaceutical giant Merck & Co., Inc. (NYSE: MRK) is back with a new deal, acquiring Pandion Therapeutics, Inc. (NASDAQ: PAND) for $1.85 billion, or $60 per share in cash, a 134% premium to the prior day’s closing price. Pandion Therapeutics is developing novel therapeutics designed to address the unmet needs of patients living with autoimmune diseases. Pandion’s TALON (Therapeutic Autoimmune reguLatOry proteiN) drug design and discovery platform enable the company to create a pipeline of product candidates using immunomodulatory effector modules. In 2020, the company generated approximately $10.5 million in revenue, but reported a loss in EBITDA of approximately $43.2 million. ... Read More »
ATI Physical Therapy Goes Public
The healthcare M&A market has been dominated by a surge of SPAC deals, or private companies going public through reverse mergers with a special purpose acquisition company. The deals have usually been in the eHealth and Biotechnology sectors, but now a giant in the Rehabilitation sector is getting in the action. ATI Physical Therapy, the largest single-branded outpatient physical therapy provider in the United States, is merging with Fortress Value Acquisition Corp. II in a $2.5 billion deal. ATI owns and operates nearly 900 physical therapy clinics across 25 states. The company generated approximately $178.6 million in adjusted EBITDA for 2020. ATI Physical Therapy was a portfolio... Read More »
Health Care M&A Deals, February 19, 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 Charles River Laboratories International, Inc.’s acquisition of Cognate BioServices, Inc. from EW Healthcare Partners for $875 million. Cognate BioServices is a cell and gene therapy contract development and manufacturing organization (CDMO). Cognate has extensive experience producing various cell types and... Read More »
MindMed Acquires HealthMode
MindMed (OTCQB: MMEDF), a New York City-based biotechnology company, is expanding its platform with a new deal. Last week, the company announced it is acquiring HealthMode, a digital medicine and therapeutics startup that uses artificial intelligence-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. MindMed will issue 8,250,836 subordinate voting shares at the Feb. 17, 2021 closing price of CAD 5.13, plus approx. CAD 300,000 in cash. Based on the conversion rate from February 18, 2021, the price comes out to approximately U.S. $33.67 million. The acquisition of Healthmode is expected to close by the end of February 2021. MindMed is... Read More »
Humacyte Goes Public Via SPAC
Humacyte, Inc. announced last week it is merging with Alpha Healthcare Acquisition Corp. (NASDAQ: AHAC), a special purpose acquisition company (SPAC). Shareholders of Humacyte will get an aggregate of 80 million shares of AHAC’s common stock, or roughly $800 million. Humacyte is a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue on a commercial scale. The company develops and manufactures acellular tissues to treat a wide range of diseases, injuries and chronic conditions. Humacyte’s initial opportunity, a portfolio of human acellular vessels (HAVs), is currently in late-stage clinical trials targeting multiple vascular... Read More »
Charter Health Care Adds Two Omaha Agencies
Charter Health Care Group, a portfolio company of Pharos Capital Group, announced a deal for two agencies in Omaha, Nebraska last week. It purchased Physmed Home Health Care and Serene Care Hospice, two sister companies, for an undisclosed sum. Physmed Home Health Care was founded in 2003 and specializes in geriatric care, providing physical therapy, occupational therapy and speech therapy, as well as social work and dietician services plus a wide array of skilled nursing assistance. Serene Care, founded in 2013, provides comprehensive end-of-life care in the home. The company offers services such as nursing, spiritual care, bereavement, social work and other specialty care... Read More »
Charles River Laboratories Acquires Cognate BioServices
Charles River Laboratories International, Inc. (NYSE: CRL) is significantly boosting its capabilities with a new acquisition. The research giant is buying Cognate BioServices, Inc. from EW Healthcare Partners for $875 million. The acquisition and associated fees are expected to be financed through Charles River’s existing credit facility and cash. Cognate BioServices is a cell and gene therapy contract development and manufacturing organization (CDMO). The company has extensive experience producing various cell types and technologies used in cellular immunotherapy and immuno-oncology, regenerative medicine, and advanced cell therapy. Cognate BioServices’ minority shareholders include... Read More »
Health Care M&A Deals, February 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 Sharecare, Inc.’s reverse merger with Falcon Capital Acquisition Corp., a special purpose acquisition company, valued at $3.9 billion. Sharecare provides an online health and wellness engagement platform that gives consumers a personal results-oriented experience by connecting them to health resources... Read More »Schedule a demo
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