Warning: Undefined variable $count in /home/seniorca/public_html/wp-content/themes/divi-news-child-healthcare/index.php on line 40
Warning: Undefined variable $count in /home/seniorca/public_html/wp-content/themes/divi-news-child-healthcare/index.php on line 121
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 »
Physician Medical Group M&A During COVID-19
Things are tough for physician medical groups, there’s no doubt about that. Since March 18, 2020, when the Centers for Medicare & Medicaid Services recommended that all elective, nonessential medical, surgical and dental procedures be delayed for the duration of the pandemic, a major source of revenue for many practices, the M&A market has dwindled. May 2020 only had four transactions announced, one fifth of May 2019’s amount, according to our Deal Search Online database. A survey by The Medical Group Management Association revealed that physician groups reported a 55% decrease in revenue and 60% decrease in patient volume since the beginning of the crisis. Approximately 75% of... Read More »
Steward Health Care Goes to the Docs
The largest privately held hospital chain in the United States is now owned by a group of physicians who practice there. Steward Health Care System LLC was sold by its founding owner, Cerberus Capital Management, to a management group of Steward Health Care physicians led by the company’s CEO and founder, Dr. Ralph de la Torre. Dr. de la Torre, a cardiac surgeon, was tapped to run Steward’s predecessor, the six-hospital Caritas Christi Health Care in Boston, in April 2008. The current deal was structured as a recapitalization, with no additional leverage added to Steward’s balance sheet and Cerberus’ controlling interest was exchanged for a convertible note. The new... Read More »
Health Care M&A Deals, June 5, 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. This week’s top deals include Change Healthcare, Inc.’s acquisition of PDX, Inc. for $208 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 developments in all the key segments... Read More »
More Medicare Deals Close in May
In late April, the Social Security and Medicare Trustees released two reports on the financial state of their respective programs, and you’ve probably guessed, the outlook is grim. Without accounting for the adverse economic or health consequences of COVID-19, the organizations find Medicare Part A, which covers inpatient hospital care, skilled nursing facility, hospice, lab tests, surgery, and home health care, will face insolvency in six years. Considering COVID-19 is dealing heavy blows to healthcare services as a whole, it’s fair to say the pandemic is draining funds even faster. However, there is temporary relief for the market. The CARES Act passed by Congress promised... Read More »
COVID-19 Vaccine Rush Pushes Biotech Deals
For the past few weeks, we’ve discussed the widening effects of the current pandemic on healthcare M&A, particularly on the services sectors, but until this week, dealmaking hasn’t been directly focused on COVID-19. As the biotechnology and pharmaceutical industries race to find a COVID-19 vaccine, companies are bolstering their efforts with new collaborations and acquisitions. They’re the first transactions of their kind, and we expect to see more in the coming months. This week, Novavax, Inc. (NASDAQ: NVAX), a clinical-stage company focused on developing recombinant protein nanoparticle vaccines, spent $167 million cash to acquire Praha Vaccines from Cyrus... Read More »
Private Equity Still Driving Behavioral Health Deals
As healthcare M&A deal volume drops, particularly in the services sectors, behavioral health targets are still in hot demand, especially for private equity firms. Roughly 18% of deals announced by a PE buyer in the second quarter have targeted companies in the Behavioral Health Care sector, the highest concentration for any of the healthcare sectors. That statistic certainly correlates with the spike in demand for mental health services triggered by the anxiety surrounding COVID-19, as outlined in this article from The Chartis Group, an advisory and analytics services firm focused on the healthcare industry. Additionally, in early March, the U.S Centers for Medicare & Medicaid... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
