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How PE Firms and Sponsored Companies Have Reshaped Health Care M&A
Although private equity firms have been active in healthcare services for many years, their participation has grown significantly in the past five. In our newly published report, 2019 Health Care Services Acquisition Report, Twenty-Fifth Edition, we took a look at their recent activities and how they’re moving these markets. Deal volume created by these firms and their portfolio companies grew 450% between 2014 and 2018, reaching 369 transactions in 2018. PE firms’ share of the combined annual deal count in healthcare services increased to 46% in 2018, from just 14% five years earlier. The data below does not include the Long-Term Care sector. Spending by these firms and their... Read More »
Centene Acquires WellCare Health Plans
The sleepy Managed Care sector woke up to a big deal last week. Centene Corporation (NYSE: CNC) announced it will acquired WellCare Health Plans (NYSE: WCG) for approximately $17.4 billion. M&A among managed care companies has been dormant since 2015. That’s when, in June, the U.S. Supreme Court upheld the tax subsidies provided as part of the Affordable Care Act. Forty-four deals were announced that year, not including the two mega-mergers between Aetna (NYSE: AET) and Humana (NYSE: HUM) for $37 billion and between Anthem (NYSE: ANTM) and Cigna (NYSE: CI) for $54 billion. Since the U.S. Department of Justice (DOJ) successfully challenged those mergers in 2017, they’ve... Read More »
Health Care M&A Deals, Week Ending March 22, 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 Gryphon Investors LEARN Behavioral N/A Ashley Addiction Treatment Aquila Recovery N/A eHealth Acquirer Target Price Henry Schein One Lighthouse 360 N/A Emergent Connect, LLC TouchstoneNet N/A Teladoc, Inc.... Read More »
BioScrip and Option Care Merge
BioScrip (NASDAQ: BIOS) and Option Care announced they are merging in perhaps the biggest home health deal of 2019 so far. Option Care provides home and alternate treatment site infusion services and is owned by Madison Dearborn Partners, LLC (MDP) and Walgreens Boots Alliance, Inc. (NASDAQ: WBA). BioScrip offers infusion and home care management solutions, and as one of the largest nationwide providers, it services nearly 70 service locations nationwide. It partners with physicians, hospital systems, and skilled nursing facilities to provide patients access to post-acute care services. BioScrip has made a few significant acquisitions itself over the past few years worth noting. It... Read More »
Teledoc Moves into French Telemedicine
Teladoc, Inc. (NYSE: TDOC) announced this week it will acquire MedecinDirect, an accredited mobile platform for the healthcare industry. MedecinDirect provides personalized medical advice and subscriptions to patients online and by telephone. The deal will combine Teladoc’s virtual care services with MedecinDirect’s consultation and prescription digital health solutions. The organization will become the French country unit of Teladoc Health. This acquisition adds to the growing list of purchases focused on telemedicine and virtual health. You might remember a few earlier this year. Medici bought Chiron Health in January for an undisclosed amount. Chiron provides secure remote... Read More »
Gryphon Investors Gets into Autism Treatment with Learn Behavioral
Learn Behavioral, formerly Learn-It Systems, has a new owner. Gryphon Investors acquired a majority stake in the behavioral health company from LLR Partners in mid-March. Financial terms weren’t disclosed, of course, but the deal wasn’t cheap. This is Gryphon’s first investment in the Behavioral Health Care space. LLR put the company up for sale in late October 2018. Even with this deal announcement, LLR hasn’t exited the autism-treatment company completely. The firm and Learn senior management will maintain minority stakes alongside Gryphon. Based in Baltimore, Learn Behavioral’s primary focus is the delivery of applied behavior analysis (ABA) therapy to... Read More »
Social Determinants of Health Network Acquired by Signify
“Social determinants of health” is healthcare’s latest Phrase of the Year. It made its mark at the January 2019 J.P. Morgan Healthcare Conference in San Francisco and has now turned up in a deal announcement. It’s only the first of many, we’re sure. March 15 marked Signify Health’s first acquisition since New Mountain Capital stepped in. The of TAVHealth, based in San Antonio, Texas. The price was not disclosed, although CNBC reported the deal “was in the high double-digit millions.” Signify has a multi-billion dollar valuation, according to the company. The target was TAVHealth, a San Antonio, Texas-based startup that uses social... Read More »
Health Care M&A Deals, Week Ending March 15, 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 AstraZeneca plc Exclusive rights to cancer immunotherapy $20,000,000 eHealth Acquirer Target Price Hill-Rom Holdings, Inc. Voalte, Inc. $180,000,000 K1 Investment Management, LLC Digital Pharmacist Inc. $100,000,000 ImagineSoftware ProviderAlly N/A... Read More »
ResMed Moves into South Korea
Sleep apnea doesn’t discriminate. The condition occurs everywhere, and that’s where ResMed, Inc. (NYSE: RMD) is going. On March 8, the medical device maker bought HB Healthcare in Seoul, South Korea, for an undisclosed amount. HB provides home medical equipment provider and serves both reimbursed and cash-pay customers to assist with sleep apnea, chronic obstructive pulmonary disease (COPD) and other respiratory conditions. The move comes after the Korean government’s July 2018 decision to begin National Health Insurance Service reimbursement for sleep apnea diagnosis and CPAP treatment devices. One in five Korean adults could have sleep apnea, according to a study by Ansan... Read More »Schedule a demo
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