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Orthopedic Device Companies Are all the Rage in 2019
Stryker Corporation’s (NYSE: SYK) recently announced acquisition of OrthoSpace, Ltd., an Israeli based orthopedic company, for $110 million (with another $110 million in milestones), makes it tough to ignore 2019’s biggest trend in the medical device sector. Orthopedic companies, so far, have taken up nearly 40% of the medical device transactions this year. In the deal, Stryker gains OrthoSpace’s InSpace platform, a biodegradable sub-acromial spacer designed to realign the natural biomechanics of the shoulder. It expects the InSpace product will bolster its sports medicine portfolio in particular. The product has been used with 20,000 patients across 30 countries.... Read More »
Cambia Health Combines (Not Merges) with BCBS of North Carolina
Managed care deals have fallen off the radar recently. In all of 2018, we saw just 25 announcements, down 51% from the year before. The marketplace is certainly undergoing significant changes, as CVS Health (NYSE: CVS) moves ahead with its new subsidiary, Aetna, to create Health Hubs within its retail stores. That combination took Aetna off the acquisition trail. Likewise, Cigna’s (NYSE: CI) acquisition of pharmacy benefits manager Express Scripts in 2017 took that managed care company out of the market for the moment. Now comes the unusual combination of Blue Cross Blue Shield of North Carolina (BCBCNC), based in Durham, and Cambia Health Solutions out in Portland, Oregon. Blue... Read More »
Health Care M&A Deals, Week Ending March 8, 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 AbleTo, Inc. Joyable N/A Biotechnology Acquirer Target Price Biogen Inc. Nightstar Therapeutics plc $877,000,000 Pfizer Inc. License to an immune tolerance therapy N/A Oncternal Therapeutics, Inc GTx, Inc. N/A... Read More »
AbleTo, Inc. Acquires Digital Therapy Platform Joyable
Behavioral health care is starting to take a new form, and it might even fit in our pocket. AbleTo, Inc., a technology-enabled behavioral health care company, announced its purchase of Joyable for an undisclosed sum. Joyable operates an app-based digital therapy platform that provides patients and users with mental health support and guidance. Behavioral health and digital health have overlapped in recent years, and this deal is just more evidence that behavioral health care is changing. AbleTo aims to strengthen its virtual behavioral health care with a digital platform that delivers clinically-based therapies. AbleTo provides treatment virtually through a network of more than 600... Read More »
Tabula Rasa Builds its Patient Engagement Platform
Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC) has acquired PrescribeWellness, a cloud-based patient engagement solutions company. Based in Irvine, California, PrescribeWellness facilitates collaboration between more than 10,000 pharmacies with patients, payers, providers and pharmaceutical companies. It provides patient services such as medication home-delivery, appointment scheduling, Medicare plan reviews and more. The acquisition cost Tabula $150 million, roughly 5x PrescribeWellness’ 2018 revenue of $29 million. This acquisition supports its goals to expand medication risk mitigation programs in community pharmacies and provide them with clinical revenue opportunities beyond... Read More »
Strong Spending on Healthcare Deals in February
On the dollar side, February 2019 looks hale and hearty with a combined total of $32.7 billion. The majority of that comes from one deal, not surprisingly. GE Healthcare’s (NYSE: GE) sale of its biopharma division to Danaher Corp. (NYSE: DHR) for $21.4 billion accounts for 65% of the month’s spending. Without it, the total would be $11.3 billion—still higher than the $9.7 billion turned in a year ago. The Biotechnology sector is driving a lot of spending this years, as we noted in the story on page 1. Three of the four billion-dollar-plus deals announced in February targeted biotech companies. The fourth, at $3.4 billion, came from Johnson & Johnson’s (NYSE: JNJ) acquisition of Auris... Read More »
February Puts a Chill on Healthcare Deal Volume
January was a fairly busy month for healthcare M&A, as regular readers already know. The 136 deals announced last month showed what results from the proverbial “January thaw.” As for February deal activity, the freeze was on. At press time, just 102 deals were on the books, down 25% compared with January and down 31% compared with February 2018, which turned in a scorching 147 deals. What’s going on? The federal government shut-down that dragged into January certainly had an effect. Some sources tell us that we’re back in the typical annual cycle, where the deal-making momentum from the previous fourth quarter spills over into January but quiets down through the rest of the first... Read More »
Other Services Diversify, but CRO and Outpatient Care still lead
In 2017, our annual Health Care Services Acquisition Report, the Other Services sector featured six particularly active subsectors. Last year we had 13. Other Services includes areas such as specialty pharmacy, urgent care and ambulatory surgery centers and medical staffing companies. All are experiencing significant changes. In 2017 we reported 153 deals in Other Services, compared with 179 in 2018. A new notable field includes deals involving medical transportation services. There were a total of 10 deals in this category. Perhaps the most significant transaction was Beekman Investment Partners III, LP’s purchase of REVA, Inc., the largest global fixed-wing air medical platform in... Read More »
Health Care M&Deals, Week Ending March 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 Danaher Corporation GE Biopharma business $21,400,000,000 Roche Spark Therapeutics, Inc. $4,300,000,000 Theratechnologies Inc. Katana Biopharma Inc. $2,000,000 Sarepta Therapeutics, Inc. Myonexus Therapeutics $165,000,000 eHealth Acquirer Target Price... Read More »Schedule a demo
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