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Sharecare Is Going Public
Last week Sharecare, Inc. announced it was going public in a reverse merger with Falcon Capital Acquisition Corp. (NASDAQ: FCAC), a special purpose acquisition company (SPAC). Sharecare provides an online health and wellness engagement platform that gives consumers a personal results-oriented experience by connecting them to health resources and programs. Falcon Capital is in an investment partnership with Eagle Equity Partners. The deal is valued at $3.9 billion and is expected to be funded through a combination of Falcon’s $345 million of cash in trust supported by a $425 million PIPE at $10.00 per share. Sharecare will have approximately $400 million on its balance sheet to fund growth... Read More »
The Emily Program and Veritas Collaborative Merge
Two major behavioral health care companies are merging, creating a national network of treatment facilities focused on treating patients with eating disorders. The Emily Program, one of the largest eating disorder treatment programs in the U.S. and an affiliate of the University of Minnesota Medical School, is acquiring Veritas Collaborative, LLC from Vestar Capital Partners. Terms of the deal were not disclosed. Veritas Collaborative is a national healthcare system for the treatment of eating disorders, with locations in Georgia, North Carolina and Virginia. Veritas provides a full continuum of care for individuals of all ages, including inpatient, acute residential, partial... Read More »
NeuPath Health Makes Moves to Expand
The Canadian-based NeuPath Health Inc. (TSXV:NPTH) is entering the healthcare M&A market with its deal for HealthPointe Medical Centres Ltd. NeuPath is Canada’s largest provider of chronic pain management services that operates under two leading brands in Ontario: Centres for Pain Management and InMedic Creative Medicine. NeuPath has 12 locations across Ontario with more than 100 licensed healthcare providers that provide care to over 11,000 patients annually. Under the terms of the agreement, NeuPath will acquire 100% of HealthPointe for CAD 3.2 million upfront cash (U.S. $4.05 million) and up to CAD 1.5 million in potential milestones based on the achievement of certain financial... Read More »
Acadia Healthcare Acquires Adventist Health Vallejo
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) announced last week it purchased Adventist Health Vallejo from Adventist Health for an undisclosed sum. Adventist Health Vallejo is a 61-bed psychiatric hospital that is operated as a service of Adventist Health St. Helena. Its services include short-term psychiatric care for children, adolescents and adults as well as partial hospitalization services for adults who are experiencing psychiatric problems or are dependent on alcohol, drugs or prescription medications. The psychiatric hospital has operated in Vallejo, California for nearly 25 years. Acadia Healthcare intends to retain current staff and associates and also invest in and expand... Read More »
Health Care M&A Deals, February 5, 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 Jazz Pharmaceuticals plc’s acquisition of GW Pharmaceuticals plc for for $7.2 billion. GW Pharmaceuticals is a global pharmaceutical company that discovers, develops, manufactures and commercializes novel, regulatory approved therapeutics from its proprietary cannabinoid product platform to address a broad range of... Read More »
Jazz Pharmaceuticals Buys GW Pharmaceuticals
Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is back with a new acquisition. The Ireland-based pharmaceutical company has announced the purchase of GW Pharmaceuticals plc (OTC: GWPRF) for $7.2 billion, or $220 per American Depositary Share in the form of $200 in cash and $20 in Jazz Pharmaceuticals ordinary shares. The price represents a premium of approximately 50% over GW’s closing stock price on February 2, 2021, of $146.25 and 60% over GW’s 30-day volume-weighted average price of $137.17. GW Pharmaceuticals is a global pharmaceutical company that discovers, develops, manufactures and commercializes novel, regulatory approved therapeutics from its proprietary cannabinoid product... Read More »
WELL Health Acquires CRH Medical Corporation
WELL Health Technologies Corp. (TSX.V: WELL) had an incredibly busy year in 2020, announcing eight deals, according to search results in our Healthcare Deals Database. Most of its activity focused on smaller eHealth targets to build up its digital health platform, but now WELL Health is turning its attention to the physician market. On Monday, the company announced the acquisition of CRH Medical Corporation (NYSE: CRHM), which provides physicians with innovative services and products for the treatment of gastrointestinal diseases. CRH serves 69 ambulatory surgical centers in 13 states. The purchase price came out to be $292.7 million, or $4.00 per share for CRH, a premium of approximately... Read More »
Veracyte Snaps Up Decipher Biosciences, Inc.
Veracyte, Inc. (NASDAQ: VCYT), the South San Francisco, California-based diagnostics company, has bought Decipher Biosciences, Inc for $600 million consisting of $250 million in cash and up to $350 million in stock. Decipher Biosciences is a commercial-stage precision oncology company focused on urologic cancers. It has a comprehensive portfolio of tests which leverage whole transcriptome analysis and proprietary machine learning algorithms to improve patient decision-making across the clinical care continuum. This acquisition solidifies Veracyte’s global position in the genomic cancer diagnostics market while accelerating revenue growth. Collectively, Decipher’s genomic tests have... Read More »
Healthcare Services Bankruptcies Spiked in 2020
Even before the Covid-19 pandemic arrived in the United States early in 2020, observers expected the flow of healthcare services bankruptcies filings by small rural hospitals and other service organizations stressed by regulatory and reimbursement challenges to continue at a steady trickle. Once the economic and social shutdowns began in mid-March, hospitals were forced to suspend elective procedures, emergency room visits plummeted, physician practices largely closed temporarily and home health agencies experienced a wave of visit cancellations. The cost of personal protective equipment, a requirement for healthcare workers, soared to astronomical highs. Of course, merger and acquisition... Read More »Schedule a demo
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