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Healthcare Deal Volume Got a Jump Start in January
January was a fairly busy month for healthcare M&A. Preliminary data shows 133 deals reported, nearly equal to December’s 136. The momentum coming out of the fourth quarter spilled into the new year and even without a big boost in deal announcements from the J.P. Morgan Healthcare Conference, consolidation in the industry seems to be going full steam ahead. And yet. Compared with the 151 deals announced a year ago, M&A is off by 12%. Granted, we don’t see that many deals on a monthly basis, which makes for a hard comp here. But as we swing into February, deal flow has slowed noticably. It could be temporary, as investors take stock of the economic and political landscape and... Read More »
Hospital M&A: Bigger Isn’t Always Better
That was the week that was. Two huge hospital mergers came to an end, one successfully and the other, not. In announcing the end results, CEOs involved in those deals each emphasized their goal was not about “getting bigger,” but to deliver better health care to more patients. Seriously, what CEO is going to say they just need more facilities to boost the bottom line and don’t care about patients? First, the deal that crossed the finish line. For 15 months, Catholic Health Initiatives and Dignity Health negotiated the details of the definitive agreement they signed in December 2017. The deal closed on February 1, creating one of the largest not-for-profit health systems in the country with... Read More »
Health Care M&A Deals, Week Ending February 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, in the quarterly report. 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 Aldeyra Therapeutics, Inc. Helio Vision, Inc. $10,000,000 Neurocrine Biosciences, Inc. Rights to four gene therapy programs $165,000,000 Janssen Pharmaceuticals, Inc. Rights to retinal disease treatments $100,000,000 Tetra Bio-Pharma Panag... Read More »
Medical Device Makers Upgrade with Digital Health Deals
This week BioTelemetry, Inc. (NASDAQ: BEAT) purchased Geneva Healthcare, Inc. for $45 million, continuing the 2018 trend of medical device companies acquiring digital health groups. BioTelemetry provides cardiac monitoring device manufacturing and monitoring and wanted Geneva’s proprietary cloud-based platform. Its technology aggregates data from device manufacturers’ systems, enabling a company to remotely monitor a patient’s implantable cardiac devices such as pacemakers, defibrillators and loop recorders. Geneva’s platform provides physicians with a single portal to order patient monitoring, view monitoring results and request routine device checks.... Read More »
Healthscope Changes Hands Again
Healthscope Ltd. (ASX: HSO), Australia’s second largest private hospital chain, is being sold once again, this time for $4.14 billion, or 1.8x revenue. The Melbourne, Victoria-based company owns 43 hospitals across all states in Australia and is the largest pathology services provider in New Zealand, with 24 laboratories. Three buyers are involved, two of them real estate investment trusts (REITs). First, Brookfield Business Partners LP (NYSE: BBU), a subsidiary of Brookfield Asset Management Inc. (NYSE: BAM), will acquire 100% of Healthscope’s shares, priced at $1.81 (AU$2.50) per share. That returns approximately $1.0 billion in equity. The remainder will be paid with $1.4... Read More »
Good Samaritan Sells its SNFs in New Mexico
Evangelical Lutheran Good Samaritan Society (known as “Good Sam” in its home town of Sioux Falls, South Dakota) recently sold two skilled nursing facilities in New Mexico to a Southern California-based private investor looking to expand in the Land of Enchantment. The facilities totaled 150 skilled nursing beds and 25 independent/assisted living units. Both were well maintained, and one recently underwent a major renovation. Not only were they deemed non-core by their not-for-profit parent, they were inconveniently located on opposite sides of the state in Aztec and Lovington. Last year Good Samaritan merged with Sanford Health, one of the largest health systems in the country... Read More »
Thermo Fisher Sells Its Anatomical Pathology Business
Shortly before it reported fourth quarter and full-year earnings results, Thermo Fisher Scientific (NYSE: TMO) announced the sale of its anatomical pathology (AP) business for $1.14 billion. The buyer, Tokyo-based PHC Holdings Corporation, is a global healthcare company developing and manufacturing medical equipment and products across diabetes care, diagnostics, life sciences and healthcare information technology. Its consolidated net sales in FY2017 was approximately $1.76 billion. The AP business provides microscope slides, instruments and consumables. It has approximately 1,200 employees at locations in the U.S., Europe and China. The business generates approximately $350 million in... Read More »
Health Care M&A Deals, Week Ending January 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, in the quarterly report. 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 Beacon Specialized Living Services, Inc. Owakihi, Inc. N/A Biotechnology Acquirer Target Price BioNTech AG Operational antibody generation unit N/A Vertex Pharmaceuticals Incorporated License to two DNA-PK inhibitors N/A eHealth Acquirer... Read More »
Watch Out: Eye Care Groups Are Selling Fast
With an already impressive 16 Physician Medical Group deals in January alone (and we still have a week left), six of those have been ophthalmology practice deals. To put that in context, there were a total of 11 in the fourth quarter of 2018. If the trend continues, that number will be easily eclipsed in the first quarter of 2019. Perhaps the most important acquisition to note is CEI Vision Partners’ (CVP) acquisition of Virginia Eye Consultants, announced on January 24. It will make CVP one of the largest ophthalmology management services organizations in the nation. CVP will add 11 ophthalmologists, six optometrists, and more than 185 staff from Virginia Eye. The deal marks CVP’s fourth... Read More »Schedule a demo
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