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The Pennant Group Expands in the West
The Pennant Group, Inc. (NASDAQ: PNTG) is having a good start to the third quarter. The healthcare services company announced on July 1 it acquired two home health & two hospice agencies with multiple locations across southeastern Idaho and northern Utah from Signature Health Care at Home. The acquired locations will operate under the brand Symbii Home Health and Hospice. Pennant Group’s CEO Daniel Walker also disclosed in the announcement that more acquisitions are in the pipeline for the company. Mr. Walker’s pledge could be a good sign for the Home Health & Hospice market in the second half of 2020. The Pennant Group formed in October 2019 after it was spun out... Read More »
Health Care M&A Deals, July 3, 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 based on announced price was Liquidia Technologies, Inc.’s acquisition of RareGen, LLC, a portfolio company of PBM Capital Group, for $65.7 million. To subscribe to our Health Care M&A deals chart and more, visit our membership site. HealthCareMandA.com is devoted to healthcare merger and acquisition data for... Read More »
LeMaitre Acquires New Jersey-based Medical Device Firm
LeMaitre Vascular (NASDAQ: LMAT), a Massachusetts-based medical device manufacturer, announced a new addition to its portfolio. The company has purchased Artegraft, Inc., which processes and sells biologic vascular grafts that are derived from bovine carotid arteries and are implanted primarily in hemodialysis access patients. Its products are marketed under the brand Artegraft and are sold only in the U.S. Artegraft generated trade sales of $15.6 million and estimated hospital-level sales of $18.6 million during the twelve-month period ended May 31, 2020. Artegraft’s unit sales grew by 10% in 2019. LeMaitre purchased Artegraft for a total of $72.5 million in cash, with $65 million upfront... Read More »
Health Care M&A Deals, June 26, 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 announcement of the week was Invitae Corporation’s acquisition of ArcherDX, a genomic sequencing services company, for $883.3 million. To subscribe to our Health Care M&A deals chart and more, visit our membership site. HealthCareMandA.com is devoted to healthcare merger and acquisition data for the serious analyst and investor. Every day, this service... Read More »
Sanofi Pasteur Jumps Into the COVID-19 Vaccine Race
Sanofi Pasteur, the vaccine division of Sanofi (NYSE: SNY) has expanded its partnership with Translate Bio (NASDAQ: TBIO ) to produce a COVID-19 vaccine. The two companies are pursuing novel mRNA vaccines aimed at broadly addressing current and future infectious diseases, evaluating multiple COVID-19 vaccine candidates. They hope to conduct human clinical trials in Q4:2020 but are also advancing an mRNA vaccine development candidate against influenza through preclinical studies with clinical trial initiation anticipated in mid-year 2021. The original agreement dates back to 2018, when Translate Bio and Sanofi Pasteur entered into a collaboration and exclusive license agreement to develop... Read More »
Penn State Health Adds Holy Spirit Health
For the first time in a few years, Penn State Health is adding another hospital system. The Hershey, Pennsylvania-based not-for-profit signed a definitive agreement to acquire Holy Spirit Health System from Geisinger Health System, another large not-for-profit system based in Danville, Pennsylvania. Geisinger acquired Holy Spirit Health in October 2014. Holy Spirit is anchored by Holy Spirit Hospital (277 beds), a Level II Trauma Center located in Camp Hill, Pennsylvania, southwest of Harrisburg. The deal includes the hospital, its outpatient practices and urgent care centers in Cumberland, Dauphin, Perry and York counties, as well as the Ortenzio Heart Center and the assets of West Shore... Read More »
Invitae Corporation Grows Diagnostics Platform With New Acquisition
Invitae Corporation (NYSE: NVTA), a genetic information company, announced on June 22 it acquired Colorado-based ArcherDX for $883.3 million. ArcherDX offers genomic sequencing services and testing solutions to help develop and deliver personalized and precision diagnostics and monitoring in the field of oncology. Invitae will pay $325 million in cash and 30 million shares of Invitae common shares at $18.61 per share (June 19, 2020 closing price). In addition, up to 27 million shares of Invitae stock could be payable upon milestone achievements The combined company will be able to offer robust support for biopharmaceutical companies, from patient identification and screening to biomarker... Read More »
Takeda Makes Another Divestment
In another sale to lighten its portfolio, Takeda Pharmaceuticals (OTCMKTS: TKPHF) has announced the divestiture of 18 prescription and over-the-counter brands. Celltrion (KRX:068270), a South Korean-based biotechnology company, purchased the assets for $278.3 million. The assets are distributed in a number of markets in the Asian-Pacific region, including South Korea, Thailand, Taiwan, Hong Kong, Macau, the Philippines, Singapore, Malaysia, and Australia. The assets from Takeda in the deal grossed a combined sale of approximately $140 million in 2018. The portfolio includes Nesina and Actos (both for diabetes), Edarbi (hypertension), and well-known OTC products. Nesina and Edarbi are... Read More »
MTBC Adds Meridian Medical to Boost Healthcare IT
MTBC (NASDAQ: MTBC) has announced a new acquisition, significantly expanding its revenue cycle management (RCM) and healthcare IT capabilities. The company revealed on June 17 it purchased Meridian Medical Management, a healthcare IT company that delivers advanced healthcare information technology solutions and RCM services to thousands of healthcare providers nationwide. Gores Meridian Medical Holdings, LLC (Gores) has been the owner of Meridian (f.k.a GE Healthcare Strategic Sourcing) since 2013 when it purchased the company from GE Healthcare for an undisclosed price. Gores is selling Meridian for $19.8 million. The price breaks down to $15 million cash and the assumption of $4.8... Read More »Schedule a demo
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