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TA Associates Climbs on the Autism Bandwagon
Autism disorders are big business these days, as private equity firms flock to the subsector. More than 40 deals targeting all manner of autism services have been announced since the beginning of 2014. Of those, 17 were direct investments by firms such as Frazier Healthcare Partners (August 2018) and Pharos Capital Group (November 2018) and 14 were follow-on deals. The latest to join the parade is TA Associates, which just announced its acquisition of Behavioral Health Works (BHW) in Anaheim, California. Like many other autism services providers, BHW specializes in Applied Behavioral Analysis (ABA) therapy and ancillary services for children with autism spectrum disorder and related... Read More »
RiverGlade Capital Buys Kids Care Dental & Orthodontics
After a six-year partnership, Sterling Partners is selling Kids Care Dental & Orthodontics, a California based multi-site dental practice for children and adolescents. The buyer happens to be RiverGlade Capital, a private equity firm founded in 2017 by Danny Rosenberg and Garrick Rice, two former executives at Sterling Partners. No financial terms were disclosed. Founded in 2002, Kids Care has a significant presence in Northern California. Kids Care Dental is the market-share leader with over 150,000 patient visits per year and a growing team of nearly 300 clinical and non-clinical practice-based staff. It has 29 facilities in California and 43 practicing dentists. This deal adds to a... Read More »
Health Care M&A Deals, Week Ending January 11, 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 Eli Lilly and Company Loxo Oncology, Inc. $8,000,000,000 Knight Therapeutics Inc. Exclusive rights to commercialize Nerlynx $7,200,000 eHealth Acquirer Target Price Medici Chiron Health N/A ZOLL Medical Corporation Payor... Read More »
Q4:18 Health Care Dollar Volume Was Just … Robust
Deal volume has climbed higher every year since 2012. Spending on those deals hasn’t been as predictable, which is why we watch deal volume more closely. But dollar signs attract attention, so here is where the preliminary results point. Combined spending in 2018 now stands at $330.3 billion and may rise slightly higher as we uncover more prices. The total is 21% higher than 2017’s $311.6 billion, but doesn’t come close to the $387.7 billion spent in 2014. That was the year Actavis plc (now NYSE: AGN) paid $66 billion for Allergan plc; Medtronic plc (NYSE: MDT) paid $42.9 billion for Covidien; and Actavis (then NYSE: ACT) acquired Forrest Laboratories for $25.0 billion. That year saw... Read More »
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 »Schedule a demo
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