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Health Care M&A Deals, June 19, 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 Lee Equity Partners’ acquisition of Integrated Medical Professionals and The Urology Group for and estimated $240 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... Read More »
Lee Equity Partners Forms New Urology Group
Lee Equity Partners (LEP) announced on June 17 the acquisition of Integrated Medical Professionals (IMP) and The Urology Group (TUG) to form Solaris Health, a management services organization. According to the release from LEP, it will be one of the nation’s largest providers of urological and other specialty services. LEP plans to use Solaris Health as the foundation for a national platform that attracts leading independent urological partners. For the two practices, LEP spent roughly $240 million, according to sources cited in PE HUB. TUG and IMP have combined estimated revenue of $270 million and $25 million in EBITDA. IMP is a urology-centric multi-specialty practice with 81... Read More »
Integral Diagnostics Acquires Ascot Radiology
Australian-based Integral Diagnostics (ASX: IDX) announced on June 10 that it acquired Ascot Radiology, expanding its network of diagnostic clinics. The acquisition will create a new entity known as Integral Diagnostics New Zealand Radiology Group, which will have a total of 63 clinics between Australia and New Zealand. Integral paid roughly $31.2 million (NZ$47.7 million), with $24.9 million in cash and $6.2 million in new ordinary Integral shares to be issued at $2.28 per share to 17 specialist vendor doctors. Integral Diagnostics provides diagnostic imaging services to general practitioners, medical specialists, and allied health professionals. The company provides its services through... Read More »
Kindred Healthcare Pushes into Behavioral Health Care
Kindred Healthcare has made a name for itself in the home health sector, but now the healthcare company is looking to expand in the behavioral healthcare space. On June 1, Kindred announced the acquisition of two behavioral health hospitals, WellBridge Greater Dallas and WellBridge Fort Worth from WellBridge Healthcare. Each hospital has 48 licensed beds. The acquisition of the two facilities is part of an effort to boost the Kindred Behavioral Health (KBH) brand, Kindred Healthcare’s behavioral health services division. It plans to grow its behavioral health footprint across the U.S. through joint ventures and distinct part unity management with leading hospital systems, in addition... Read More »
CRH Medical Adds Two New Physician Groups
After a brief hiatus from the healthcare M&A market, CRH Medical Corporation (NYSE: CRHM) added two new Georgia-based physician groups to its network in early June. CRH, based in Vancouver, Canada, provides physicians with innovative services and products for the treatment of gastrointestinal diseases. The company acquired Oconee River Anesthesia Associates and Lake Lanier Anesthesia Associates. Lake Lanier provides anesthesia services to two ambulatory surgery centers, and the group generates an estimated annual revenue of $2.7 million. The acquisition for Lake Lanier was financed through a combination of CRH’s credit facility and cash on hand and is EBITDA and cash flow... Read More »
Health Care M&A Deals, June 12, 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 AbbVie Inc.’s and Genmab A/S’ new broad oncology collaboration valued at $750 million. The two companies are signing a broad collaboration agreement to jointly develop and commercialize three of Genmab’s early-stage investigational bispecific antibody product candidates. To subscribe to our Health Care M&A deals chart... Read More »
AbbVie and Genmab Sign Major New Oncology Deal
AbbVie Inc. (NYSE: ABBV) announced on June 10 a broad oncology collaboration with Denmark-based Genmab A/S (NASDAQ: GMAB). The two firms are teaming up to jointly develop and commercialize three of Genmab’s early-stage investigational bispecific antibody product candidates. AbbVie and Genmab are also starting a discovery research collaboration for future differentiated antibody therapeutics for cancer, including epcoritamab, a bispecific antibody created using Genmab’s proprietary DuoBody technology. AbbVie will pay Genmab $750 million upfront, with total potential development, regulatory and sales milestone payments of up to $3.15 billion, as well as tiered royalties between... Read More »
Gilead Signs New Immunotherapy Partnership
Gilead Sciences, Inc. (NASDAQ: GILD), just a few months after its $4.9 billion purchase of Forty Seven, Inc. (NASDAQ: FTSV), has signed a 10-year partnership agreement to co-develop and co-commercialize next generation cancer immunotherapy with Arcus Biosciences (NYSE: RCUS). Gilead will provide $175 million upfront, a $200 million equity investment, and more than $1.6 billion in potential R&D funding. The deal includes immediate rights to zimberelimab, an investigational anti-PD-1 monoclonal antibody, as well as the right to opt-in to all other current Arcus clinical candidates. Arcus is eligible to receive up to $1.225 billion in opt-in and milestone payments with respect to its... Read More »
Has Healthcare M&A Volume Bottomed Out?
The only way to go is up, right? April was the first full month after the World Health Organization declared the COVID-19 virus a pandemic on March 11, and you can see the impact in the healthcare M&A numbers. Even after adding deals that surfaced in later weeks, April 2020 deal count just barely crossed the 100 mark, according to our Deal Search Online database. With 97 deals on the books for May, it seems we have bottomed out. It might take more than a year to hit the numbers that were posted in May 2019 (175 deals), but with restrictions loosening around the country, June might show increased activity. For instance, the last week of May didn’t have a single Long-Term Care deal... Read More »Schedule a demo
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