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Biotechnology Dominated Q1:19 Health Care Spending
Spending in the first quarter roared to nearly $150 billion, up 240% compared with the fourth quarter ($43.9 billion) and up 32% compared with the first quarter in 2018 ($113.4 billion). This quarter’s total would be halved if it weren’t for a single deal with a $74 billion price tag, Bristol-Myers Squibb’s (NYSE: BMY) acquisition of Celgene Corporation (NASDAQ: CELG). Two other deals added to the outsized total, Danaher Corporation’s (NYSE: DHR) $21.4 billion acquisition of GE Healthcare’s (NYSE: GE) Biopharma business and Centene Corporation’s (NYSE: CNC) $17.4 billion buyout of smaller health insurance rival WellCare Health Plans (NYSE: WCG). Those three deals made up 76% of the... Read More »
Deal Count Dropped in ‘Other Services,’ but Spending Shot Up
As we researched data across 13 sectors for our upcoming publication, The Healthcare M&A Report, First Quarter 2019, an interesting trend in the “Other Services” sector popped up. This sector includes areas ancillary healthcare services such as ambulatory surgery centers, urgent care clinics, contract research organizations (CROs), healthcare staffing companies, specialty pharmacies, among others. Since it aggregates so many healthcare services, the deal count can be high. There were 182 deals in 2018, only surpassed by numbers in the tech sectors and Long-Term Care. Last year’s totals were driven heavily by contract research organizations (CROs) and outpatient care... Read More »
Health Care M&A Deals, Week Ending April 19, 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 Blue Sprig Pediatrics, Inc. West Texas Autism Center N/A Pinnacle Treatment Centers American Addiction Treatment Center programs N/A Biotechnology Acquirer Target Price Castle Creek Pharmaceuticals LLC Collaboration on FCX-007... Read More »
Hospice Mergers Growing in North Carolina
Two not-for-profit mergers in the hospice space have been announced in recent months, both taking place in North Carolina. In early March, Hospice and Palliative Care of Greensboro and Hospice and Palliative Care of Alamance-Caswell in Burlington announced their decision to merge. The Greensboro-based not-for-profit serves Guilford County and surrounding areas. It provides home-based hospice care, operates a 14-bed hospice facility and offers a community-based palliative care service. The Burlington-based organization provides home health care, counseling for children and adults, and operates a 22-bed hospice home. The two organizations currently serve more than 3,000 hospice patients... Read More »
Ocugen Acquires Histogenics Corporation
Ocugen, Inc., a privately held clinical-stage biopharmaceutical company, has acquired Histogenics Corporation (NASDAQ: HSGX). Although no financial terms were disclosed, the merged company will be publicly-traded, operating under the Ocugen name. Ocugen discovers, develops and commercializes a pipeline of innovative therapies that address rare and underserved eye diseases. Histogenics develops a restorative cell therapy technology platform. It has collaborated with Brigham and Women’s Hospital, Cornell University and other leading institutions to advance molecular biology and proprietary materials sciences. Perhaps a big factor driving Ocugen’s purchase is Histogenic’s pipeline... Read More »
Will Catalent’s Deal Launch the Next Wave of CRO M&A?
Contract research organizations (CROs), like contract development and manufacturing organizations (CDMOs), have been popular targets for private equity firms and strategic buyers for years. The deals seem to come in waves, and the healthcare M&A market may be in for a tsunami this year. In 2013, some 20 transactions for CRO/CDMO targets were announced, with some hefty price tags attached. Royal DSM paid $1.95 billion to buy Patheon. Other big deals that didn’t disclose prices came from KKR & Co. (NYSE: KKR), which acquired both PRA International and ReSearch Pharmaceutical Services that year. CRO deal volume rose a little in 2014 (27 deals), then ebbed in 2015 (11 deals). The... Read More »
Health Care M&A Deals, Week Ending April 12, 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 Principal Real Estate Spezialfondsgesellschaft mbH Privatklinik Friedenweiler clinic N/A Sprout Health Group Endeavor House North N/A Biotechnology Acquirer Target Price Ocugen, Inc. Histogenics Corporation N/A XOMA Corporation Rights to... Read More »
Healthcare Deal Spending Was Healthy in March 2019
March 2019’s combined spending, at nearly $25 billion, is a healthy-looking sum, even though it represents a 24% drop compared with February 2019 and a 65% decline versus March 2018. As usual, March 2019’s total is mostly the result of one deal—Centene’s (NYSE: CNC) $17.4 billion bid for WellCare Health Plans (NYSE: WCG), which accounted for 70% of the total. Without it, March 2019 would have posted a total of $7.5 billion and a 77% decrease from the previous month’s approximately $32.8 billion. And an almost 90% drop compared with the $71.5 billion in March 2018. Spending isn’t the real measure of the health of the healthcare deal market, as we say every month. Sources tell us they see... Read More »
March Healthcare Deal Volume Dribbled Off
It was a slow first quarter, and March’s monthly deal results didn’t change that fact. Just 115 transactions were announced, following February’s total of 106. Compared with March 2018’s 149 deals, last month’s deal volume sank 23%. The over-heated market we saw in 2018 is cooling, at least momentarily. Of course, there was a time when seeing 115 deals in a month was unusual. Dare we say, exciting? But that was so five years ago, to be exact. In March 2014, there were 97 transactions made public, up just a sliver from the 95 announced in February 2014. With the exception of August 2014 (another slow month with 95 deals), monthly deal volume has stayed above the 100-mark ever since.... Read More »Schedule a demo
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