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OptimizeRx Adds CareSpeak Communications
OptimizeRx Corporation (NYSE: OPRX) is heavily invested in healthcare communications. Its primary business provides digital health messaging via electronic health records (EHRs), offering a direct channel for pharma companies to communicate with healthcare providers. That makes its recent $9 million acquisition of privately held CareSpeak Communications so logical. CareSpeak, based in Somerset, New Jersey, provides patient engagement, medical therapy adherence, and care coordination solutions to insurers, pharmaceutical companies, pharmacies, and specialty pharmacies. OptimizeRx’s cloud-based solution supports patient adherence to medications by providing real-time access to financial... Read More »
NeoGenomics Buys Oncology Lab Genoptix
It’s been two years since NeoGenomics, Inc. (NASDAQ: NEO) announced an acquisition, but now the time clock has been reset. On October 23rd, the cancer-focused genetic testing company made public its purchase of Genoptix, Inc., a privately held clinical oncology laboratory specializing in hematology and solid tumor testing. Genoptix has well-established relationships with community oncology practices, a sales force and pathologists that are experienced in serving oncologists, and customized reports that are considered to be the gold standard among community oncologists. Oncology practices are an important, and under-penetrated, channel for promoting NeoGenomics’ capabilities in... Read More »
Birner Dental Takes ‘Perfect Teeth’ Off the Market
It’s been a big year for mergers and acquisitions in the Physician Medical Group sector. Deal volume slowed a bit in the third quarter of 2018 compared with the previous quarter, but with two quarters of 60-plus deals, it looks like 2018 will be a record-setting year in this sector, in the 21st century, at least. Dental practices make up just 12% of the targets through late October, with 24 deals made public. (By comparison, dermatology practices are one of the hottest practice areas this year, with 40-plus deals on the books.) Most of the dental targets are standalone practices with one or two dentists. Prices aren’t usually disclosed for smaller practices, especially when the... Read More »
After a Drought, Medical Device Deals Are on the Rise
The medical device market is making a comeback in 2018, after several years of steady but uninspiring performance. Through the end of October, 103 transactions have been announced. That’s still below last year’s total, but there are two months to go in the year. Deal volume in the third quarter reached 41 transactions, up 32% compared with the previous quarter and up 78% over the year-ago period. This quarter’s deals account for 34% of the 122 deals announced in the previous 12 months. Annual deal volume hit a peak of 194 transactions in 2007, and stayed well above 165 deals per year through 2011 (175 transactions). In 2012, mergers and acquisitions topped out at 145... Read More »
Health Care M&A Deals, Week Ending October 19, 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. Biotechnology Acquirer Target Price Novartis AG Endocyte, Inc. $2.1 billion Roche Collaboration on cellular therapy $125 million AbbVie Inc. Collaboration targeting fibrotic diseases $100 million Sarepta Therapeutics, Inc. License to gene therapy for Sanfilippo syndrome $15 million... Read More »
Novartis Bags Cancer Researcher Endocyte
With little fanfare, Swiss drug maker Novartis AG (NYSE: NVS) bagged Endocyte, Inc. (NASDAQ: ECYT) for $2.1 billion, or $24.00 per share. The price represents a 54% premium to Endocyte’s closing price on October 17, 2018, the day before this deal was announced. Endocyte, a biopharmaceutical company based in Indiana, develops targeted therapies for the treatment of cancer and inflammatory diseases. The company uses drug conjugation technology to develop targeted therapies with companion imaging agents, including one that is a potential first-in-class investigational radioligand therapy (RLT) for the treatment of metastatic castration-resistant prostate cancer. It’s currently in... Read More »
Canopy Growth Corp. Gets Ebbu Inc.
October 17, 2018 was a big day for Canada, which officially allowed adult recreational cannabis use across all provinces beginning at midnight. There was a flurry of deal making in the week leading up to the event, mostly from MedMen Enterprises (OTCQB: MMNFF) here in the States, as it snapped up dispensaries and their licenses. Up in Canada, Canopy Growth Corporation (NYSE: CGC) made its own acquisition. Canopy Growth, based in Smith Falls, Ontario, is a global cannabis and help company with a current market cap of nearly $10.7 billion. On a trailing 12-month basis, it generated revenue of $66.1 million and a net loss of $106.4 million, so you can see there are some investors... Read More »
BHC Sector Booms as Acadia Healthcare Explores a Sale
Mergers and acquisitions in the Behavioral Health Care sector are booming in 2018, with 68 transactions made public through mid-October, 21% higher than the total in 2017. Now comes the report that one of the sector’s largest publicly traded companies, Acadia Healthcare Company (NASDAQ: ACHC), is in talks with a few interested parties to sell itself, and most likely go private. On October 18, Reuters reported the Franklin, Tennessee-based company was fielding interest from the private sector, naming KKR & Co. (NYSE: KKR) and TPG Global as two firms that have approached Acadia. With a market cap of $3.4 billion and debt of $3.14 billion (less $79.5 million cash), Acadia... Read More »
Avella Specialty Pharmacy Goes to OptumRx
The auction for Riordan, Lewis & Haden’s portfolio company, Avella Specialty Pharmacy, was well under way back in February, according to industry sources. UnitedHealth Group’s (NYSE: UNH) Optum was reported to be in the lead, and then things went dark. It wasn’t until UnitedHealth Group’s third quarter earnings report was published on October 16 that the story ended. Some time in the third quarter, Optum acquired Avella and tucked it into its OptumRx pharmacy services subsidiary. The price wasn’t disclosed, but PEHub cited two sources saying the deal was valued at around $325 million. That’s pretty low, considering Avella’s previously disclosed... Read More »Schedule a demo
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