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Second Quarter Healthcare M&A Activity Drops
The decline in second quarter healthcare M&A probably won’t surprise many of our readers. The second quarter was the first full quarter of healthcare M&A in the shadow of the COVID-19 pandemic, and deal making took a hit as a result, as shown in results from our DSO database. Compared with Q1:20, Q2:20 dropped 20%, with 322 transactions on the books. Compared with Q2:19 (486 transactions), deal volume in Q2:20 declined even further at 34%. Source: Health Care M&A, July 2020 Long-Term Care and Physician Medical Groups were among the hardest hit sectors, declining 40% and 50% in activity compared with Q1:20, respectively. Year-over-year, the difference is starker. Long-Term... Read More »
Sanofi Inks New Licensing Deal
Just weeks following its agreement with Translate Bio (NASDAQ: TBIO) for COVID-19 vaccine development, Sanofi (NYSE: SNY) has a new agreement with Kymera Therapeutics Inc. Sanofi and Kymera are signing a multi-program collaboration to develop and commercialize first-in-class protein degrader therapies targeting IRAK4 in patients with immune-inflammatory diseases. IRAK4 is believed to play a key role in multiple immune-inflammatory diseases, including hidradenitis suppurativa, atopic dermatitis, and rheumatoid arthritis. Kymera will receive $150 million in cash upfront and may receive more than $2 billion in potential development, regulatory and sales milestones, as well as significant... Read More »
Summit BHC Expands Into West Virginia
Private equity-backed Summit BHC has announced a new acquisition in West Virginia. The behavioral health treatment company added Highland Hospital to its network for an undisclosed sum. Meridian Behavioral Health Systems, LLC is selling Highland Hospital, an inpatient psychiatric facility (131 beds) with 24 beds dedicated to psychiatric residential treatment and 91 beds for inpatient acute psychiatric needs. The stalking horse bid was at a price of $10 million. Highland Hospital generated $3.29 million EBITDA and revenues of $27.million for 2018. Meridian acquired Highland Hospital in August 2017. The sale came from a bankruptcy auction. This deal is Summit BHC’s second in 2020,... Read More »
Health Care M&A Deals, July 10, 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 prices was Primovie’s acquisition of eight senior care facilities for $164.4 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 alerts you to... Read More »
eHealth Activity Drove Busy June
Based on preliminary numbers, there were 119 deals announced in June 2020, a 19% increase over deal volume in May 2020. June’s transaction volume was largely boosted by a surge in eHealth activity, which accounted for 20% of deal volume. The 24 deals announced in June even tops June 2019’s eHealth activity, where only 16 transactions were announced, according to our Deal Search Online database. However, dollar volume in eHealth transactions declined heavily in June compared with June 2019, but that comparison might be unfair. Dassault Systemes (Paris: DSY) announced it was acquiring Medidata Solutions, Inc. (NASDAQ: MDSO) on June 12, 2019 for $5.8 billion, which overshadows... Read More »
Corizon Health Acquired by Global Investment Firm
A leading provider of correctional healthcare services is now under new management. Flacks Group, a privately held global investment firm, announced on June 30 it was acquiring Corizon Health Inc. for an undisclosed amount. Corizon Health has provided evidence-based healthcare services to states and municipalities across the country for more than 40 years. Corizon offers comprehensive solutions for medical care, behavioral care, pharmaceutical, and re-entry services. Corizon Health’s PharmaCorr is the only in-house pharmacy in the corrections industry. The company employs over 5,000 staff, including doctors, nurses, and other healthcare professionals. The acquisition accelerates Flacks... Read More »
NMS Capital-Backed Physician Group Adds New Dermatology Practice
A portfolio company of NMS Capital announced in the last week of June it has acquired a Maryland-based dermatology practice, capping off a busy month for the private equity firm. Anne Arundel Dermatology Management (ADM) purchased Chevy Chase Cosmetic Center and Dermatology & Cosmetics Surgery Associates (CCCC), a dermatology practice founded in 1992 with four physicians and multiple locations in Chevy Chase and Greenbelt in Maryland. No terms were disclosed With the addition of CCCC, ADM now provides support services to over 65 clinic locations across four states and over 155 providers. CCCC will benefit from ADM’s administrative and support services, including investments in... Read More »
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 »Schedule a demo
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