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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 »Health Care M&A Deals, Week Ending October 12, 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 Gurnet Point Capital Corium International, Inc. $624 million Roche Collaboration on IONIS-FB-Lrx $75 million Breathtec Biomedical Inc. Nash Pharmaceuticals $3.8 million Carrick Therapeutics License to BTG945 N/A MeiraGTx Holdings plc Vector... Read More »
Anju Software Makes a Deal for Zephyr Health
Anju Software has had a busy year, making three transactions public in the first three quarters of 2018. Its latest deal is for Zephyr Health, a San Francisco-based startup backed by Kleiner Perkins Caulfield & Byers, Icon Ventures and Google Ventures. Anju, a life sciences software platform, is backed by Providence Equity Partners. Its integrated platform spans clinical, medical affairs and after-market solutions. Zephyr provides comprehensive physician, institution and treatment data for every major disease area. It uses proprietary algorithms to link disparate data sources in an effort to deliver actionable insights. This deal continues Anju’s strategy to combine robust... Read More »
Amedisys Makes a Compassionate Care Hospice Deal
There’ve been some big moves in the hospice market this year, the largest being the $1.4 billion acquisition of Curo Health Services LLC by Humana (NYSE: HUM), TPG Capital and Welsh, Carson, Anderson & Stowe back in April. Curo Health is one of the nation’s leading hospice operators providing care to patients in 245 location in 22 states. Undeterred by the competition, Amedisys, Inc. (NASDAQ: AMED) moved itself into third place in the U.S. hospice industry with its $340 million acquisition of Compassionate Care Hospice Group. The Parsippany, New Jersey-based company operates 53 locations across 24 states, and cares for approximately 3,300 patients daily. Post-closing,... Read More »
Bain Capital Builds a Home Health Platform
Bain Capital Double Impact, the impact investing business of Bain Capital, waded into the Home Health Care sector last week. The fund acquired two regional companies on both coasts in order to combine them and create a national home care platform for older adults called Arosa+LivHome. Arosa, based in Durham, North Carolina, operates Nurse Care of North Carolina and Developmental Therapy Associates. The companies provide non-medical in-home care, skilled in-home care, pediatric therapy and facility staffing throughout central and eastern North Carolina. Out in Los Angeles, LivHome offers a personalized suite of in-home care and care management solutions to residents of California, Illinois... Read More »
Cannabis Cultivators Keep Growing in October
The medical marijuana market is catching fire in the United States. Less than two weeks into the month of October, MedMen Enterprises (CSE: MMEN) has notched up four deals, and market giant Tilray, Inc. (NASDAQ: TLRY) has announced one. MedMen, based in Culver City, California, is a leading cultivator, producer and retailer of state-sanctioned cannabis in the United States. At the beginning of October, it operated 18 licensed cannabis facilities in California, Nevada and New York, but that list keeps growing. Two of its recent targets are in Illinois, one in Arizona and one in California. The largest of the MedMen deals (to disclose a price) was its acquisition of PharmCann LLC, one of the... Read More »
Health Care M&A Deals, Week Ending October 8, 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 Varsity Healthcare Partners Ideal Option N/A BrightSpring Health Services Gateway Pediatric Therapy N/A Biotechnology Acquirer Target Price Boston Pharmaceuticals, Inc. License to three novel anti-infective programs... Read More »
RadNet Expands to Long Island Market
RadNet, Inc. (NASDAQ: RDNT), has acquired Medical Arts Radiology, which owns and operates 10 imaging centers in Long Island, New York. This is the second acquisition announced this year, following a string of joint ventures around the country. Medical Arts offers MRI, CT, PET/CT, X-ray, ultrasound, bone density and interventional procedures. The centers are located in Bay Shore, Commack, East Setauket, Huntington, Massapequa, Patchogue, Plainview, Smithtown, Bablyon and Stony Brook. In addition to servicing the existing patient base, the Medical Arts centers will be instrumental in providing diagnostic imaging to the approximately 200,000 patients of Emblem’s AdvantageCare Physicans, for... Read More »Schedule a demo
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