Warning: Undefined variable $count in /home/seniorca/public_html/wp-content/themes/divi-news-child-healthcare/index.php on line 40
Warning: Undefined variable $count in /home/seniorca/public_html/wp-content/themes/divi-news-child-healthcare/index.php on line 121
Behavioral Health Care Deals Keep Growing
Behavioral health care deals are on a hot streak. Only three quarters of the way through 2018, at least 59 deals have been made public, compared with 56 in all of 2017. Despite the soaring valuations, the buyers keep lining up. For example, another platform-builder just entered the sector. River Cities Capital Funds, a growth equity firm based in Cincinnati, acquired Carolina Partners in Mental HealthCare (CPMH), North Carolina’s largest provider of outpatient mental and behavioral healthcare services across North Carolina with more than 120 mental health professionals. River Cities Capital plans to work with CPMH’s management to aggressively grow the company’s footprint... Read More »
Medtronic Makes a Billion-Dollar Bet on Mazor
A couple of weeks ago we noted the rash of medical device deals targeting spine surgery, some small, some not so small. Now the 800-lb. gorilla of medical device deals, Medtronic plc (NYSE: MDT) has weighed in with the biggest spine deal of the year. On September 21, the Ireland-based company announced its acquisition of Israeli medtech company Mazor Robotics Ltd. (NASDAQ: MZOR) for $1.34 billion. The deal strengthens Medtronic’s position as a global leader in technologies for spine surgery. Founded in 2001, Mazor pioneered the application of robotics technology for use in spinal procedures. In 2011 the company introduced the Renaissance system, and in 2016 launched the... Read More »
Aetna Sells Medicare Part D Biz to WellCare
Even before federal and state officials made the demand, Aetna Inc. (NYSE: AET) agreed to divest its standalone Medicare Part D business to WellCare Health Plans (NYSE: WCG) for an undisclosed price. The deal was struck to help deflect objections to Aetna’s takeover by CVS Health (NYSE: CVS), which was announced on December 3, 2017. The $77 billion price for that deal consists of $69 billion in cash and stock, and Aetna’s debt of approximately $8 billion. This transaction with WellCare is subject to the completion of that deal, which CVS expects will close in the early part of the fourth quarter of 2018. Aetna’s standalone Medicare Part D business includes more than 2.2... Read More »
Quest Diagnostics Inks Two Deals in One Week
Quest Diagnostics (NYSE: DGX) had a busy week in late September, announcing two acquisitions. On September 25, Quest announced its purchase of the U.S. laboratory services business of Oxford Immunotec Global plc in Abingdon, UK. The U.S.-based business includes the T-SPOT.TB tuberculosis and the Accutix tick-borne disease testing services in Memphis, Tennessee and Norwood, Massachusetts. As part of the transaction, Oxford Immunotec will sell T-SPOT.TB test kits and related accessories to Quest under the terms of a long-term supply agreement, which would be effective at closing of the acquisition some time in the fourth quarter of 2018. Two days later, Quest went in a different direction... Read More »
Health Care M&A Deals, Week Ending September 21, 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 Amicus Therapeutics, Inc. Celenex $100 million Corbus Pharmaceuticals License to 600 compounds N/A Thompson Street Capital Partners LifeSpan Biosciences Inc. N/A eHealth Acquirer Target Price Med Tech Solutions Compex, Inc. N/A Waystar Connance N/A Home... Read More »
Jefferson Health and Einstein Healthcare Agree to Merge
Two Philadelphia-based not-for-profit health systems have agreed to merge. Einstein Healthcare Network and Jefferson Health System signed a definitive agreement on September 14, following their letter of intent signing in March 2018. Einstein is a leading healthcare sytem with approximately 1,000 beds. It includes Einstein Medical Center Philadelphia (548 beds), Einstein Medical Center Montgomery, and Einstein Medical Center Elkins Park, as well as MossRehab, an inpatient rehabilitation hospital, and Willowcrest, a skilled nursing facility. Jefferson Health provides primary to highly-specialized care through 14 hospitals, more than 40 outpatient and urgent care locations, the... Read More »
Evolent Health Acquires New Century
Managed care company Evolent Health (NYSE: EVH) made its first acquisition in two years with the purchase of privately held New Century Health for up to $217 million. New Century, previously owned by NCIS Holdings, Inc., is a specialty care management company focused primarily on cancer and cardiac care. It manages approximately 462,000 Medicare Advantage (MA) lives under performance-based arrangements and provides administrative services to several partner organizations. The price is based on 3.1 million shares of EVH Class B common stock and $120 million at closing, as well as an earn-out of up to $20 million tied to future new business activity. Just for fun, that works out to only $470... Read More »
Reliant Rehabilitation Sold to H.I.G. Capital
Rehabilitation deals aren’t made public very frequently, but when the target is big enough, we hear about them. That was the case when H.I.G. Capital announced the closing of its acquisition of Reliant Rehabilitation Holdings, Inc., a leading provider of therapy services, including physical, occupational and speech, to skilled nursing facilities. Headquartered in Plano, Texas, Reliant is one of the largest providers of contract therapy services in the United States. It uses a proprietary care model that emphasizes early intervention/assessment, properly designed clinical care plans and pathways to improve patients’ functional levels. In this time of critical labor shortages in many... Read More »
Amicus Therapeutics Buys Gene Therapy Company
Amicus Therapeutics (NASDAQ: FOLD) is focused on rare and orphan diseases. So it’s no head-scratcher that the Cranbury, New Jersey-based biotech agreed to shell out $100 million to acquire Celenex. a clinical-stage gene therapy company in Columbus, Ohio. Celenex’ lead programs in CLN6, CLN3 and CLN8 Batten disease are potential first-to-market curative therapies for these rare, devestating diseases. Batten disease, also known as Neuronal Ceroid Lipofuscinosis (NCL), is a family of rare disorders that can be life-threatening and debilitating, with high unmet need. With this acquisition, Amicus gains the worldwide development and commercial rights for 10 gene therapy programs... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
