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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 »
Health Care M&A Deals, Week Ending October 25, 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 Discovery Behavioral Health New Life Addiction Counseling & Mental Health Services N/A Biotechnology Acquirer Target Price Zealand Pharma A/S Encycle Therapeutics, Inc. N/A Takeda Pharmaceutical Co. Ltd. License to CNP-101/TAK-101 N/A... Read More »
Second Time’s the Charm for Two New Hampshire Systems
It took almost 10 years and a lot of changes, but Dartmouth-Hitchcock and the owner of Catholic Medical Center are merging. Nine months after signing a letter of intent in January 2019, Dartmouth-Hitchcock Health and GraniteOne Health made it to the definitive agreement stage. The not-for-profits made it official on September 30 and announced the deal on October 2. Dartmouth-Hitchcock Health, based in Lebanon, is New Hampshire’s only academic health system. It operates Dartmouth-Hitchcock Medical Center and includes the Dartmouth-Hitchcock Norris Cotton Cancer Center, the Children’s Hospital at Dartmouth-Hitchcock, four affiliate hospitals, home health services and ambulatory... Read More »
Molina Healthcare Expands in Upstate New York
Molina Healthcare (NYSE: MOH) has been off the acquisitions circuit for some time, as management issues were being worked out. The insurer’s last completed deal was announced in April 2016, in fact. That transaction targeted Universal American’s (NYSE: UAM) Total Care Medicaid plan, a prepaid health services plan providing health care coverage to approximately 39,000 members under the Medicaid and Child Health Plus programs in the three upstate New York counties of Cortland, Onondaga and Tompkins. The sale netted Universal American $41.3 million. In mid-October, Molina broke its streak with the acquisition of certain Medicaid assets of YourCare Health Plan, Inc., a... Read More »Goldman Sachs Exits Marathon Health Investment
After a three-year partnership, Goldman Sachs is selling Marathon Health to General Atlantic LLC. Goldman Sachs acquired the company for $30 million back in 2016. Financial terms were not disclosed for the sale. Marathon Health provides digital health solutions to providers and healthcare organizations to help with health assessment, risk identification, coaching and advocacy, including disease management for high-cost chronic conditions. Marathon’s platform also offers electronic health record management, fitness tools and wellness support. General Atlantic’s majority stake investment will help Marathon further scale its operations and footprint to serve employees, spouses and... Read More »
340B Company Verity Solutions Grabbed by Express Scripts
It’s been a quiet 18 months for Express Scripts, since its $67 acquisition by Cigna Corporation (NYSE: CI) back in March 2018, but the company is back in the M&A market. Last week, the pharmacy benefits manager (PBM) announced it bought Verity Solutions from Ignitions Partners. Verity provides 340B solutions to hundreds of integrated healthcare systems, acute-care hospitals, community health centers, and pharmacies. 340B is a federal program that requires drug manufacturers to provide outpatient drugs to eligible healthcare organizations and covered entities at significantly reduced prices. Verity Solutions will operate as a standalone company under the Express umbrella,... Read More »
U.S. Hospital Deals Surged in the Third Quarter
Mergers and acquisitions among U.S. hospitals and health systems rose 28% in the third quarter of 2019, posting 23 transactions versus 18 deals in the previous quarter. Deal volume compared with the same quarter in 2018 (15 deals) was up 53%. Q3:19 had the strongest M&A activity in the previous four quarters, according to our most recent data. What factors boosted the most recent quarter’s results? A major contributor was Medical Properties Trust (NYSE: MPW), which announced three transactions in July, totalling $1.7 billion. The largest of the three deals, at $1.55 billion, was to acquire the real estate assets of 16 hospitals (2,383 beds) in California, Connecticut and... Read More »Schedule a demo
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