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Managed Care Deals for All in 2019
Investors seem unfazed by the Democratic presidential candidates’ debate around the topic of “Medicare for All.” Mergers and acquisitions in the Managed Care sector are flowing quite well this year. Halfway through September, 20 deals have been announced, putting this sector on track to equal or possibly exceed the 25 deals announced in 2018. Over the last decade, annual deal volume in this sector has averaged 20 deals per year. The peak was hit in 2015 with 43 deals, not including the terminated mega-deals between Aetna and Humana (NYSE: HUM) for $37 billion and Anthem (NYSE: ANTM) and Cigna (NYSE: CI) for $54 billion. In June of that year the U.S. Supreme Court ruled... Read More »
Baxter International Catches Cheetah Medical
Baxter International (NYSE: BAX) has been quiet on the merger and acquisition front since January 2018. The deal drought ended on September 10, 2019 when the med-tech company announced its acquisition of Cheetah Medical, based in Newton Center, Massachusetts. Cheetah provides non-invasive fluid management monitoring technologies, designed for use in critical care, operating room and emergency department settings. Its technology is available in approximately 30 countries. The price for the privately held company was $190 million in cash upfront and an additional $40 million in clinical and commercial milestones. This acquisition boosts Baxter’s portfolio with a non-invasive... Read More »
August Deal Flow Ebbs, as It Follows the Annual Cycle
Enough about slowdowns and recession. August is typically a roller-coaster month in the equity markets and August 2019 didn’t disappoint in that regard. The bond markets’ inverted yield curve persisted into September and that’s never a good sign. We’re moving on. Preliminary data show August’s deal volume wasn’t so bad, considering how most of 2019 has played out. The 125 deals announced in August represent a drop of 8% compared with the previous month’s 136 deals, and a 27% drop compared with August 2018. After a record-setting year in 2018, with more than 1,900 transactions and $333.3 billion on the books, a repeat would be nearly as scary as a sudden downturn (which may be coming,... Read More »
More Competition Coming in Behavioral Health Care
It’s been a wild ride in recent years. Merger and acquisition activity in the Behavioral Health Care sector soared to a record 91 transactions in 2018, an increase of 264% over 2014 (25 deals) and up 60% compared with 2017 (57 deals). The majority of the 2018 deals—63%, in fact—were made by private equity firms or their portfolio companies. For the record, PE firms accounted for 46% of all acquisitions and 24% of the spending in the nine healthcare services sectors last year. M&A in this sector hasn’t been as robust in 2019. With 50 deals reported through the first week in September, the sector isn’t likely to see another 40 announced by the end of the year. One reason for the slowing... Read More »
Gene-Editing Firm Semma Acquired by Vertex
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) purchased another gene-editing biotech company last week, marking its fourth announced transaction of 2019. The pharmaceutical giant bought Semma Therapeutics for $950 million in an all-cash transaction for all of the company’s outstanding shares. Semma leverages stem cell-derived human islets to research potentially cures for type 1 diabetes. The biotech firm will become a separate operating subsidiary of Vertex and executives of Semma will join Vertex and remain in leadership positions at Semma. After a hiatus in 2018, Vertex has been on a shopping spree this year to build its gene-editing platform and capabilities for various... Read More »Convey Health Solutions Sold By PE Firm
After a three-year partnership, New Mountain Capital is selling Convey Health Solutions, Inc. to TPG Capital for an undisclosed amount. According to sources cited by Buyouts.com, New Mountain Capital has been looking for a buyer since last April. The sources also projected Convey Health should generate roughly $50 million EBITDA in 2019, up from $10 million in 2016. The target company provides technology solutions exclusively for government-sponsored health insurance plans such as Medicare Advantage, Medicare Part D, and Employer Group Waiver Plans. The company’s management and other select stakeholders will remain invested in the company. TPG will be getting a robust digital health... Read More »
Health Care M&A Deals, Week Ending September 6, 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 SCB Global Healthcare Services, LLC Gallus Detox Centers N/A Biotechnology Acquirer Target Price Vertex Pharmaceuticals Incorporated Semma Therapeutics $950,000,000 eHealth Acquirer Target Price OptimizeRx RMDY Health $16,000,000 Advarra Forte N/A Labs, MRI &... Read More »
Health Care M&A Deals, Week Ending August 30, 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 Zogenix Modis Therapeutics, Inc. $250,000,000 SWK Holdings Corp. Enteris BioPharma Inc. $12,500,000 Celgene Corporation 3 Immatics TCR-T targets $75,000,000 Mustang Bio, Inc. License to Cytegrity cell line N/A eHealth Acquirer Target Price DocsApp... Read More »eHealth Deals Remain Active in August
August proved to be another busy month for eHealth transactions. According to our Deal Search Online database, there were 18 acquisitions in the eHealth sector in July 2019, and 17 in August. The most popular targets this month were cloud-based and data-analytics providers. There were eight digital health transactions with that focus, including Water Street Healthcare Partners and JLL Partners’ acquisition of THREAD, a virtual research platform used by biopharma, contract research organizations, not-for-profit researchers and life science organizations to capture global clinical study data for clinical studies. Water Street and JLL will invest to further develop and expand... Read More »Schedule a demo
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