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Q4:18 Health Care Deal Volume: Strong End to a Strong Year
It’s broken record time. Every January for the past six years, we’ve led with a story that says the previous year broke the record for healthcare deal volume. Why break a streak? More than 1,850 healthcare deals were announced in 2018, 14% more than in 2017 and by far the most we’ve ever reported. It may be repetitive, but consider the alternative. The fourth quarter of 2018 clocked in with 461 deals, a preliminary total for sure, but very solid performance. The total was only 1% behind the third quarter’s total of 466 transactions, and it beat the 2017 Q4 total by 16%. The Long-Term Care sector was the busiest, with 97 deals recorded so far. Despite the troubles affecting the sector’s... Read More »
Eli Lilly Acquires Loxo Oncology in its Largest Deal Yet
Eli Lilly and Company (NYSE: LLY) hit the new year running when it announced the acquisition of Loxo Oncology, Inc. (NASDAQ: LOXO), a biopharmaceutical company that develops medicines for genomically defined cancers. Under the terms of the deal, Lilly will acquire all outstanding shares of Loxo for $235.00 per share, or $8 billion. The offer represents a premium of approximately 68% to Loxo’s closing stock price on January 4, 2019. On a trailing 12-month basis, Loxo reported revenue of $144.8 million, for a multiple of nearly 55.3x. This marks the company’s largest acquisition, by price, since 2008, when the Indianapolis-based drug maker paid $6.5 billion, or 10.4x revenue, for... Read More »
Health Care M&A Deals, Week Ending January 4, 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 The Columbus Organization Support Associates of Tampa Bay N/A Biotechnology Acquirer Target Price Bristol-Myers Squibb Company Celgene Corporation $74,000,000,000 Merck & Co., Inc. License to proprietary influenza A/B antiviral agents N/A... Read More »
Bristol-Myers Squibb Surprises with Celgene Deal
Twas a week before the J.P. Morgan Healthcare Summit, and everything was quiet on the life sciences front. December deal-making hit a wall, with pharmaceutical deals falling 50% compared with last December. Then came Bristol-Myers Squibb’s (NYSE: BMY) announcement it was acquiring Celgene Corporation (NASDAQ: CELG) for approximately $90 billion. This isn’t the biggest pharma or healthcare deal ever, however. The title goes to Pfizer Inc. (NYSE: PFE), for both the largest deal consummated ($114 billion for Warner-Lambert Company in November 1999) and the largest deal to be called off ($160 billion for Allergan plc in November 2015). Those facts make this the third largest... Read More »
Acquisition of Civitas Tops 2018 Behavioral Health Care Deals
The biggest deal in the Behavioral Health Care sector featured a growing trend in healthcare M&A: a publicly traded company taken private. In this case, it was Centerbridge Partners buying Civitas Solutions, Inc. (NYSE: CIVI) for approximately $1.4 billion. Founded in 1980, Civitas Solutions provides home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Boston-based company markets its services nationally as The Mentor Network and provides behavioral health care in 36 states. Under the terms of the agreement, Centerbridge will acquire all outstanding shares of... Read More »
2018’s Biggest Healthcare Deals by Sector
2018 isn’t quite in the rearview mirror yet. We’re still scouring the news feeds for straggling deal announcements, and that never stops, honestly. With approximately 1,850 deals reported so far for 2018, healthcare deal volume is 14% more than 2017. Before we nail the numbers down, it’s easy to spot the biggest deals (by disclosed price) in each of the 13 healthcare sectors we follow. Most should be familiar names, but you can’t follow every sector. That’s why we’re here. Enjoy. Read More »
December 2018 Deal Flow Slowed
The jitters that rocked the U.S. equity markets in December 2018 took a toll on healthcare mergers and acquisitions. Deal volume slowed considerably, dropping 18% from the previous month, and landing 10% lower than a year ago. On a year-over-year basis, most of the services sectors posted losses. Managed Care (-75%), Rehabilitation (-67%), Hospitals (-64%) and Behavioral Health Care (-60%) led the way. Other Services, which includes urgent care and ambulatory surgery centers, went in the opposite direction. The sector posted a healthy posting a healthy 58% gain over the previous December’s total. The technology sectors caught the same chill, with the exception of eHealth (+70% yoy).... Read More »
Health Care M&A Deals, December 17-28, 2018
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 Centerbridge Partners, L.P. Civitas Solutions, Inc. $1,400,000,000 The Carlyle Group LP Odyssey Behavioral Health, LLC $200,000,000 Biotechnology Acquirer Target Price Ocumension Therapeutics Exclusive territorial rights to NCX 470 $3,403,677... Read More »
Australian Pharmaceutical Industries closes 2018 with pharmacy deal
Australian Pharmaceutical Industries (ASX: API) closed out 2018 by announcing it acquired Sigma Healthcare Ltd (ASX: SIG), a wholesale and distribution service for pharmacies. With $2.96 million of reported revenue in FY2018, Sigma also owns several pharmacy retail brands in Australia such as Amcal Max, DDS, Amcal, and Guardian. The deal was valued at $524.9 million (AUD $727 million), which is a 46.5% premium to Sigma’s one-month volume weighted average share price of $0.34 at the close of trading on December 13. Australian Pharmaceutical Industries (API) offers wholesale product delivery, retail services, marketing programs, and business advisory services. Not only will API gain... Read More »Schedule a demo
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