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WELL Health Moves into the U.S. Market
WELL Health Technologies Corp. (TSX.V: WELL), a Vancouver-based digital health company, has moved into the U.S. healthcare market. The company has made several acquisitions in Canada and has a sizeable market presence there; WELL Health owns and operates 20 primary healthcare medical clinics and is Canada’s third-largest EMR supplier serving over 2,000 medical clinics. However, with its purchase of Circle Medical, a national U.S. telehealth provider, for $14 million, WELL Health now has a foothold in the U.S. market, which is more than 17 times greater than the Canadian healthcare market. The deal and WELL Health’s U.S. expansion is being supported by a $23 million investment led by Hong... Read More »
Gilead Bets $21 Billion on Oncology Market
Gilead Sciences, Inc. (NASDAQ: GILD) kicked off this week with a multi-billion acquisition of Immunomedics (NASDAQ: IMMU). The pharmaceutical giant reached an agreement to buy Immunomedics for $21 billion, or $88 per share, a 108% premium to Immunomedics’ closing price on September 11, 2020. Immunomedics generated trailing 12-month revenues of $20.37 million. The deal will be funded through approximately $15 billion in cash on hand, as well as approximately $6 billion in newly issued debt. Immunomedics is a leader in next-generation antibody-drug conjugate (ADC) technology focused on researching therapeutics for hard-to-treat cancers, and is most known for its product Trodelvy, an ADC... Read More »
Kai Medical Labs Acquired by Empower Clinics to Ramp Up COVID Testing
Empower Clinics Inc., a vertically integrated health and wellness company, has jumped into the healthcare M&A market. Last week, the company acquired Kai Medical Laboratory, LLC for an undisclosed sum. Kai Medical Laboratory is a high-complexity CLIA- and COLA-accredited laboratory that provides reliable and accurate testing solutions to hospitals, medical clinics, pharmacies, and employer groups. Kai Medical Laboratory is located in Dallas, Texas. The deal includes an 8,000-square-foot medical laboratory including a covered drive-up testing center with premium testing and laboratory equipment, cash and current assets all with a combined value in excess of $1.75 million. Kai Medical... Read More »
Behavioral Health Care M&A Survived the Summer
The Behavioral Health Care M&A market and industry have experienced one effect from COVID-19 that most other healthcare services have not and that is an increase in patients seeking treatment. The pandemic’s impact on jobs, social interactions and myriad other parts of daily life has caused a great degree of psychological stress on individuals. Both Acadia Healthcare Company (NASDAQ: ACHC) and Universal Health Services (NYSE: UHS) noted increased demand for services in the second quarter of 2020 and are cautiously optimistic about patient volumes in the second half of this year. Behavioral Health Care M&A activity didn’t stop completely, either. In... Read More »
How Has COVID-19 Shaped the Healthcare M&A Market?
Examining the healthcare M&A market in 2019 may seem like a strange endeavor since, for many of us, it feels like an entirely different era. But there’s value in analyzing how the healthcare M&A market in August 2020 differed from the one in August 2019, even if they both represent radically different times. The snapshot of the past will help us see how the market has changed, identifying new trends and creating a roadmap for future acquisitions. In August 2019, there were 149 transactions publicly announced, with $28.03 billion in disclosed spending, according to Deal Search Online. Transactions in the services sectors comprised the majority of activity in August 2019 at... Read More »
Health Care M&A Deals, September 4, 2020
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 Deal Search Online 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 Nestle Health Science’s acquisition of Aimmune Therapeutics, Inc. for $2.6 billion. Nestle Health Science is acquiring Aimmune Therapeutics through its wholly-owned subsidiary, Societe des Produits Nestle S.A. The acquisition is an extension of Nestle Health Science’s food allergy portfolio, creating a broader spectrum of... Read More »
Triage Medical Staffing and TaleMed Merge
A pair of the nation’s largest healthcare staffing firms are merging. Ohama, Nebraska-based Triage Medical Staffing is acquiring TaleMed, LLC, creating one of the nation’s largest dual-threat Nursing and Allied Health recruitment agencies. No terms were disclosed, but the combined company is expected to have $200 million in annual revenues. TaleMed provides contingent staffing solutions to healthcare systems and hospitals nationwide through direct contract relationships and is consistently rated as one of the top travel healthcare companies. The company is also a top-tier provider with many prominent managed service providers. In recent years, Triage has experienced accelerated... Read More »
New Physician Medical Group Acquisitions in August
There was an eclectic mix of Physician Medical Group acquisitions in August, with nine on the books so far, according to Deal Search Online. Good news has remained rare for the sector during the COVID-19 pandemic, but investors are keeping up with dealmaking nonetheless. Here a few notable deals. Vancouver-based CRH Medical Corporation (NYSE: CRHM) continued its buying spree, acquiring Orange County Anesthesia Associates, LLC for $6.2 million. Orange County Anesthesia provides anesthesia services to a single gastroenterology ambulatory surgery center in Orlando, Florida, and generates annual revenues of $3.1 million. Orange County Anesthesia is CRH Medical’s fifth physician medical... Read More »
Sonde Health Buys NeurLex to Boost Voice Science Platform
Last week, Boston-based Sonde Health acquired NeuroLex Laboratories, Inc. to expand its voice-based technology platform. Sonde’s proprietary platform detects symptoms of health conditions, such as depression and respiratory disease, from changes in voice. Using machine learning, Sonde senses and analyzes subtle vocal changes due to changes in a person’s physiology to provide early health detection and monitoring. Sone Health has 300,000 voice samples from over 50,000 individuals. The data is especially useful in the fields of psychosis and related psychiatric treatment. NeuroLex Labs offers highly complementary services. It also uses speech analysis to detect various health... Read More »Schedule a demo
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