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CROs Are Still Trending as Q4 Rolls On
In the first week of November, BioAgilytix Labs, LLC, a portfolio company of Riverside Partners, purchased Cambridge Biomedical. Both Cambridge and BioAgilytix are contract research organizations (CROs) that develop novel therapeutic biologics and biosimilars, specializing in large molecule bioanalysis. The transaction expands BioAgilytix’s global footprint and adds further capacity by joining Cambridge Biomedical’s CLIA-certified, CAP-accredited, and GLP-compliant facility with its GxP laboratories in Durham, North Carolina and Hamburg, Germany. It also gives BioAgilytix a total of 400 employees. The merger follows a busy October for CROs, in which five deals were reported, accounting for... Read More »
Slow Start to Q4 Healthcare Deals
October is typically a flighty month in the annual investing cycle. Spooky things can happen as the month winds down to Halloween. With the now-hot/now-not sentiments swirling around the equity markets, it was a relief not to witness a meltdown after all ended the month at or near new highs. The healthcare market wasn’t nearly so robust. Third quarter deal volume, now at 447 transactions, is still down 5% compared with the second quarter’s 471. Preliminary data for October 2019 doesn’t demonstrate a renewed vigor in the healthcare space. At 136 transactions, it is 9% lower than September deal volume, and a thumping 31% below October 2018, with 198 deals. With only one... Read More »
DentalOne Partners Sold to PE-Backed Group
Mid-Atlantic Dental Partners, a portfolio company of S.C. Goldman & Company, LLC, recently announced it acquired DentalOne Partners from Dental Investments, LLC. DentalOne is one of the largest dental service organizations (DSOs) nationally with approximately 150 affiliated offices across 13 states and 27 markets. This acquisition increases Mid-Atlantic Dental Partners affiliated offices to more than 240 operating in 18 states. Mid-Atlantic and S.C. Goldman has been quiet on the M&A front for the past year. In October 2018, the company acquired Birner Dental Management Services, Inc. for $19.9 million. Birner operates dental practice affiliates under the Perfect Teeth brand in... Read More »UNH & Optum Expand Their Digital Health Portfolio
Optum, a UnitedHealth Group (NYSE: UNH) company, has acquired another digital health company. The target is Vivify Health, whose mobile, cloud-based platform offers remote care management services such as personalized care plans and biometric data monitoring. The deal was first reported by CNBC. Vivify’s program uses health devices ranging from a wireless weight scale to portable blood pressure cuffs. Remote patient monitoring (RPM) systems offer a great deal of value for providers and payers. They help physicians and doctors stay up to date on a patient’s health without any hospital visits or trips, an they offer an opportunity to take preventative measures if a... Read More »
Stryker Takes Out Wright Medical Group for $5.4 Billion
It’s a deal that will likely spawn more deals. Medical device giant Stryker Corporation (NYSE: SYK), with a market cap of $76.4 billion, is acquiring its smaller rival, Wright Medical Group N.V. (NASDAQ: WMGI), with a market cap of $2.8 billion. Stryker will pay $30.75 per share, for a total equity value of approximately $4.0 billion, and a total enterprise value of approximately $5.4 billion, including debt. The deal brings together two highly complementary product portfolios. Wright Medical is a recognized leader in the upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics markets, which are among the fastest growing segments in... Read More »
Health Care M&A Deals, Week Ending November 1, 2019
The Health Care M&A Weekly chart is a selection of transactions announced during the prior week(s). The deals presented here are from our Deal Search Online database, which is updated every business day. Visit www.dealsearchonline.com to see how Deal Search Online can help you stay up-to-date on the healthcare market overall, or in a particular sector of interest to your firm. Behavioral Health Care Acquirer Target Price Elysium Healthcare Chalkdown House N/A Biotechnology Acquirer Target Price Roche Global license to novel RNAi therapy $200,000,000 eHealth Acquirer Target Price Premier Inc. Medpricer $35,000,000 Trxade Group, Inc. Certain... Read More »
Danaher Drops Business Segments to Appease Regulators
Danaher Corporation (NYSE: DHR) is selling a number of its business segments and assets to Sartorius AG (FWB: SRT) for $750 million. The sale includes Danaher’s label-free biomolecular charaterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses, which are part of its Life Sciences segment. Danaher is selling this portion of its Life Sciences segment as a step towards obtaining regulatory approval for its pending acquisition of the GE Biopharma business (NYSE: GE). These businesses generated approximately $140 million in combined revenue in 2018. GE Life Sciences announced the sale of its biopharmaceutical business for $21.4... Read More »
GSK Divests Two Travel Vaccines
GlaxoSmithKline plc (NYSE: GSK) announced recently it is selling two travel vaccines to Bavarian Nordic for $334.7 million upfront, plus a potential $1.06 billion in milestone payments. The sale included rabies vaccine Rabipur (tradename Rabavert in the United States) and Encepur, for the prevention of tick-borne encephalitis. GSK obtained the vaccines as part of a 2015 deal with Novartis (NYSE: NVS). GSK divested its oncology business to Novartis for $300 million and gained the vaccines in return. According to the company’s annual report, GSK generated $7.58 billion from its vaccine segment in 2018. Both vaccines will continue to be manufactured primarily at GSK’s Marburg site in... Read More »
PE Firms Move the Needle in the Rehab Market
It’s been a quiet year in the Rehabilitation M&A market, at least through October. There have been 27 deals announced that targeted rehabilitation facilities only, a decline of 37% compared with the 43 deals announced in the full year of 2018. True, that’s 10 months in 2019 versus all 12 in 2018, but we’re not expecting a rash of deal announcements between now and December 31. Activity in this sector has been dropping since its peak in 2017, with 49 transactions. Onc factor may be the October 1 launch of the CMS’ new rule, the Patient Driven Payment Model (PDPM), which changes reimbursement and regulations on rehabilitation in skilled nursing facilities and... Read More »Schedule a demo
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