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Health Care M&A Deals, May 1, 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 Molina Healthcare, Inc.’s acquisition of Magellan Complete Care for $850 million, Supernus Pharmaceuticals, Inc.’s purchase of a CNS drug portfolio for $300 million, and AMEDISYS, INC.’s acquisition with AsceraCare Hospice for $203 million. To subscribe to our Health Care M&A deals chart and more, visit our membership... Read More »
Pfizer Teams up on Lyme Disease Vaccine
Even as it scrambles to join the hunt for a COVID-19 vaccine, Pfizer Inc. (NYSE: PFE) is still open to other ventures. On April 30 the Big Pharma signed a collaboration agreement with French specialty vaccine maker Valneva SE to develop and commercialize Valvena’s Lyme disease drug candidate VLA15, which is currently in Phase 2 clinical studies. VLA15 is the only active Lyme disease vaccine program in clinical development today and covers six serotypes that are prevalent in North America and Europe. It demonstrated strong immunogenicity and safety data in pre-clinical and Phase 1 studies. The program was granted Fast Track designation by the U.S. Food and Drug Administration in July... Read More »
Magellan Sells Complete Care to Molina
Easy come, easy go. Magellan Health, Inc. (NASDAQ: MGLN) is selling its Magellan Complete Care (MCC) business to Monlina Healthcare, Inc. (NYSE: MOH). The cash purchase price, according to Magellan, is $850 million. According to Molina, it is paying approximately $820 million, net of certain tax benefits. MCC, which had revenue of more than $2.7 billion in 2019 and approximately 155,000 members, manages full-service Medicaid and Medicare health plans including Magellan Complete Care in Arizona, Florida, and Virginia; Senior Whole Health in Massachusetts and New York; and TMG by Magellan in Wisconsin. It wasn’t that long ago (well, July 2017) that Magellan paid $400 million to buy... Read More »
April Was Cruel for Long-Term Care Deals
The Long-Term Care sector is typically the busiest for healthcare mergers and acquisitions. Month after month, the seniors housing and care market posts the largest share of transactions, often between 25% and 29%. But these are not typical times. Now we’re dealing with COVID-19 and seniors housing has been hit especially hard by deaths, visitor restrictions, and more. Deal flow in this sector ground to a halt in mid-April, according to our Deal Search Online database. In January 2020, 33 transactions were announced, followed by 30 in February and 35 in March. Through April 28, just 16 deals have closed, the last one on April 15. For context, 39 deals were reported in April 2019.... Read More »
Takeda Divests Another Portfolio
In another step to slim down its product line, Takeda Pharmaceuticals (NYSE: TAK) announced another portfolio divestment. Orifarm Group A/S, an ambitious operator in the European pharmaceutical market, has purchased Takeda’s portfolio of select non-core over-the-counter and prescription pharmaceutical products sold in Europe, and two manufacturing sites located in Denmark and Poland for $575 million. The portfolio includes a variety of OTC products and select prescription products in the respiratory, anti-inflammatory, cardiovascular and endocrinology therapeutic areas sold predominantly in Denmark, Norway, Belgium, Poland, Finland, Sweden, the Baltics and Austria. The portfolio... Read More »
Novartis Enters the Game With Ubisoft
Last week, an unusual partnership in the health care M&A space hit the headlines. Novartis AG (NYSE: NVS), the global pharmaceutical company, bought Amblyotech, Inc., a software startup that, in collaboration with Ubisoft (OTCMKTS: UBSFF) and McGill University, is developing digital technology for the treatment of amblyopia (lazy eye), a leading cause of vision loss. Ubisoft is a major player in the video game industry and not a company we expected to be treading in the health care market. It owns several development studios worldwide and publishes multiple major video game franchises. Amblyotech uses active gaming and passive video technology with 3-D glasses, training the eyes to... Read More »
Amedysis Expands its Hospice Footprint
Amedysis, Inc. (NASDAQ: AMED) is expanding hospice services. The Baton Rouge, Louisiana-based home care company just acquired AseraCare Hospice in Plano, Texas. Hospice has been an increasing focus for Amedysis, which has long concentrated on personal home care services. Founded in 1994, AseraCare Hospice cares for more than 2,100 patients daily and employs more than 1,200 hospice professionals in 44 locations across 14 states, generating approximately $117 million in annual revenues. It is the hospice subsidiary of skilled nursing facility operator Golden Living, formerly Beverly Enterprises. Amedysis agreed to a purchase price of $235 million for 100% ownership. The price includes a $32... Read More »
Health Care M&A Deals, April 24, 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 Takeda Pharmaceutical Co. Ltd. ‘s divesture of its European product portfolio for $575 million and Otsuka Pharmaceutical Co., Ltd. license agreement for Nexletol and Nexlizet in Japan with Esperion Therapeutics Inc. for $60 million. To subscribe to our Health Care M&A deals chart and more, visit our membership site. HealthCareMandA.com is... Read More »
TPG Invests in LifeStance Health
The need for behavioral health care has only been heightened by the COVID-19 pandemic we are now experiencing. And TPG Capital is moving deeper into the space with its majority investment in LifeStance Health, a leading provider of outpatient behavioral health services. Existing investors Summit Partners and Silversmith Capital Partners remain as minority investors. TPG’s investment is reported to be $1.2 billion, according to PE Hub. Founded in 2017, LifeStance offers a range of outpatient behavioral health services, delivered in-person and through telemedicine. The company focuses on creating and expanding low-cost outpatient access for patients seeking care for behavioral health... Read More »Schedule a demo
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