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Merck Boosts Oncology Portfolio
The pharmaceutical giant Merck & Co., Inc. (NYSE: MRK) has announced a new acquisition, prepping up its oncology product portfolio. Merck purchased VelosBio, a privately held clinical-stage biopharmaceutical company committed to developing first-in-class cancer therapies, for $2.75 billion in cash. VelosBio’s lead investigational candidate, VLS-101, is currently being evaluated in a Phase 1 and a Phase 2 clinical trial for the treatment of patients with hematologic malignancies and solid tumors, respectively. The transaction is expected to close by the end of 2020. Merck has been building up its oncology portfolio in recent months, trying to remain competitive in the growing market,... Read More »
Health Care M&A Deals, November 6, 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 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 is Merck & Co., Inc.’s acquisition of VelosBio for $2.75 billion in cash. VelosBio is a privately held clinical-stage biopharmaceutical company committed to developing first-in-class cancer therapies. VelosBio’s lead investigational candidate, VLS-101, is currently being evaluated in a Phase 1 and a Phase 2 clinical trial for the treatment... Read More »
Diagnostics, COVID-19 and Beyond
Testing has become one of the most defining words of 2020, especially as it relates to the COVID-19 pandemic. We see it in headlines daily and President Trump lists the testing capacity of the United States as one of his crowning achievements. But politics and media coverage aside, health experts often cite testing as one of the key components to containing the spread of the virus, underscoring the importance of those services. The demand for COVID-19 testing and diagnostics can be seen in recent quarterly earnings reports. LabCorp’s (NYSE: LH) revenue jumped by 33% in Q3:20 to $3.9 billion, compared with Q3:19. Roughly 31.5% of the increase was thanks to organic growth, bolstered by... Read More »
Retina Consultants of America Moves into South Carolina
Retina Consultants of America, a portfolio company of Webster Equity Partners, is wasting no time to expand. The physician group was just formed this past March through the merger of Retina Consultants of Houston, Retina Group of Florida, Long Island Vitreoretinal Consultants, California Retina Consultants and Retinal Consultants Serving Northern California in a deal valued at $350 million. Combined, the practices generated EBITDA of roughly $80 million. Now, Retina Consultants of America has added Palmetto Retina Center, LLC (PRC), which was founded in 2001 and serves central South Carolina. Its physicians offer comprehensive care in the treatment of vitreous and retinal diseases. PRC is... Read More »
Exact Sciences Acquires Thrive Earlier Detection
After over a year away from the healthcare M&A market, Exact Sciences Corp. (NYSE: EXAS) is back with a new acquisition. Last week, the company announced it purchased Cambridge, Massachusetts-based Thrive Earlier Detection Corp., a healthcare company focused on incorporating earlier cancer detection into routine medical care. Thrive is developing CancerSEEK, a liquid biopsy test that is designed to detect many cancers at earlier stages of disease. Under the terms of the agreement, Exact Science will pay $1.7 billion at closing, consisting of Exact Sciences common stock and 35% in cash. An additional $450 million would be payable based upon the achievement of certain milestones.... Read More »
Syneos Health Buys Leading CRO Synteract
Is the market for contract research organizations on the rise again? After a slow year for CRO transactions, the new deal by Syneos Health, Inc. (NASDAQ: SYNH) might signal a new turn in direction. Syneos Health, a fully-integrated biopharmaceutical solutions organization, announced last week it was acquiring Synteract Inc. from Amulet Capital Partners for $400 million. Synteract is a leading CRO that supports biotech and pharma companies across all phases of drug development. Synteract’s 700 employees across North America, Europe, Asia Pacific and Africa have supported more than 4,000 Phase 1-4 clinical trials across 26,000 sites in more than 60 countries. Amulet acquired Synteract in May... Read More »
Qscan Group Holdings Sold to Investment Group
Sydney, Australia-based Quadrant Private Equity is selling Qscan Group Holdings, a comprehensive diagnostic medical imaging and interventional practice with multiple clinics in South-East Queensland and additional clinics throughout Australia. The buyers are Infratil Limited, a New Zealand investment firm focused on a variety of industries, including renewable energy and social infrastructure, and Morrison & Co Growth Infrastructure Fund, a leading alternative asset manager. Infratil is acquiring a 60% stake in Qscan for AUD $330 million, and Morrison & Co will acquire an additional 15% for AUD $82.5 million. The price comes out to around U.S. $294 million. Qscan Group is expected... Read More »
Health Care M&A Deals, October 30, 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 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 is Bayer AG’s acquisition of Asklepios BioPharmaceutical, Inc. for $2 billion upfront and a potential $2 billion in milestones. Asklepios BioPharmaceutical specializes in the research, development and manufacturing of gene therapies across different therapeutic areas, including investigational pre-clinical and clinical-stage candidates for the... Read More »
Senior Care M&A Market in a “Post-Covid” World
Editor’s Note: This article focused on the senior care M&A market was featured in our sibling publication, The SeniorCare Investor It is safe to say the senior care M&A market in 2020 is quite different from that of 2019, in terms of the number of acquisitions closed, the values for senior care properties and perhaps most importantly, the types of properties actually put up for sale. Value-add and distressed communities have so far dominated the market since the onset of COVID-19, as owners of newer, stabilized communities are largely sitting on the sidelines to wait for a seller’s market again. Who knows when that will happen? Assisted living communities have been hit... Read More »Schedule a demo
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