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Mednax Sells MedData, Pulls Back on M&A

Mednax Sells MedData, Pulls Back on M&A

It’s been nearly a year since Mednax Inc. (NYSE: MD) announced its MedData subsidiary was headed for the auction block. The company acquired the privately held revenue cycle management company in August 2014 for an undisclosed amount. Now that Mednax has hired teams of consultants to help it rethink its business model, MedData is a non-core asset. Frazier Healthcare Partners agreed to pay $250 million for MedData in mid-October, although Mednax has classified MedData as discontinued operations since the first quarter of 2019. The target provides management services to hospitals, health systems and healthcare providers. Back in 2014, when Mednax bought it, MedData served 3,000 physicians at... Read More »
Health Care M&A Deals, Week Ending October 11, 2019

Health Care M&A Deals, Week Ending October 11, 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 Maryland Addiction Recovery Center and Caron Treatment Centers Encore Recovery Solutions N/A Biotechnology     Acquirer Target Price UCB S.A. Ra Pharmaceuticals $2,100,000,000 eHealth     Acquirer Target Price General Atlantic LLC... Read More »
Health Care M&A Deals, Week Ending October 11, 2019

Health Care M&A Deals, Week Ending October 4, 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. Biotechnology Acquirer Target Price Health Sciences Acquisitions Corporation Immunovant Sciences Ltd. $395,000,000 eHealth Acquirer Target Price Quake Global, Inc. Skynet Healthcare Technologies Inc. N/A Francisco Partners Orchard Software Corporation N/A Pharmagest Group Svemu N/A Home Health Care & Hospice... Read More »
Sobi Grows Product Portfolio With 2nd Deal

Sobi Grows Product Portfolio With 2nd Deal

Swedish Orphan Biovitrum AB (STO: SOBI), an international specialty healthcare company dedicated to rare diseases, announced its acquisition of Dova Pharmaceuticals, Inc. for $867.7 million (65.3x revenue), or 27$ per share. Dova acquires, develops and commercializes drug candidates for diseases such as thrombocytopenia, a condition that leaves an individual with a low blood platelet count. Its primary candidate, Doptelet, is pending approval for the treatment of chemotherapy-induced thrombocytopenia (CIT). A CVR worth $1.50 per share will be granted if Doptelet is approved, totaling a potential $915 million. An indirect subsidiary of Sobi is acquiring Dove to bolster its hematology and... Read More »
TowerBrook & Ascension Acquire Hospice Compassus in $1 Billion Deal

TowerBrook & Ascension Acquire Hospice Compassus in $1 Billion Deal

TowerBrook Capital Partners and Ascension have joined forces in a hospice deal worth $1 billion, or 11.8x revenue. The joint venture is buying Hospice Compassus, which provides hospice, palliative and home health care and services to patients in more than 25 states, from Formation Capital and Audax Private Equity. Towerbrook and Ascension will own equal stakes in Hospice Compassus after buying the hospice firm an auction that started in early 2019. Formation and Audax backed Hospice Compassus for roughly five years, recapitalizing the company in 2014 for roughly $300 million, according to the same report. Although it’s no surprise that PE firms are big players in the Home Health and... Read More »
Mednax Sells MedData, Pulls Back on M&A

Healthcare Deals in Q3:19 Slowed, but Held Steady

Looking back, the third quarter got off to a great start. The Dow topped 27,000 and the S&P 500 passed 3,000 within the first two weeks. The NASDAQ followed, rising past 8,000 in about three weeks from the start. All were boosted by the Fed’s lowering its interest rate by a quarter point at its July meeting. Another rate drop followed in September, but by then, the markets were recovering from the chaos that hit in August. Through it all, healthcare deals held steady. Early results show the third quarter’s deal volume remained strong, with 396 deals now on the books. That preliminary figure is 15% lower than the 468 deals announced in Q2:19 and 17% behind the same quarter in 2018, when... Read More »
September Deals Simmer On, Ignoring Economic Doom and Gloom

September Deals Simmer On, Ignoring Economic Doom and Gloom

If the healthcare M&A market is the only gauge you use to assess the U.S. economy, you’d be surprised to learn that other countries are entering or bracing for economic slowdowns or outright recession. Monthly deal volumes across all healthcare sectors are holding up fairly well (with the usual ups and downs). Some large national platforms have come on the market (BayMark Health Services being the most recent), stirring up some lively auctions. More are expected in the fourth quarter. September deal volume didn’t surprise. With 130 transactions already on the books, it’s virtually tied with August’s total of 131. Compared with the same month in 2018, deal volume dropped 15% against 153... Read More »

eHealth Activity Climbs in Q3

The eHealth sector came out swinging this quarter, reporting 51 deals, according to our Deal Search Online database. That’s a modest 9% uptick over Q2:19 deals, but a 38% increase over the same quarter in 2018. Year-to-date totals tell a similar story. In 2018, the first three quarters reported 146 deals, while 2019 clocks in with 151 deals so far. Announced prices have followed suit as well. By the end of the third quarter in 2018, there were roughly $12.8 billion in disclosed prices, but in 2019 we’ve seen approximately $17.9 billion in the sector. Four deals disclosed prices north of a billion dollars in the first three quarters of 2018, including Verscend Technologies,... Read More »
Health Care M&A Deals, Week Ending October 11, 2019

Health Care M&A Deals, Week Ending September 27, 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 The Stepping Stones Group New England ABA, Inc. N/A Carroll Capital Easy Speech Pathology N/A Golden Gate Capital Invo Holdings, LLC N/A The Family Treatment Network, Inc. Alpine Academy N/A The Family Treatment Network, Inc. Interventions Unlimited N/A... Read More »
Heal Acquires Medical House Call Company in NYC

Heal Acquires Medical House Call Company in NYC

Heal announced this week it will acquire Doctors on Call, one of the largest in-home medical practices providing medical house calls for the elderly in New York City, for $15 million. The target employs a team of physicians, nurse practitioners, and physician assistants to provide medical treatment for chronic diseases, sick visits, and post-hospital care. The company averaged 42,000 house calls to seniors in New York City in 2018. Heal is familiar with this business, no doubt, as it develops a mobile application that connects patients with doctors and physicians for medical house calls. Its services are available to more than 75 million patients throughout Atlanta, Georgia; California,... Read More »