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Dermatology Drug Portfolios Trade Hands

by | Aug 3, 2018 1:24 pm | Pharmaceuticals

Dermatology physician practics are all the rage among private equity groups these days. Thirty deals targeting this specialty have been announced in the first seven months of 2018. All have been acquired by a private equity firm or one of their platform companies. But in the first week of August, two international pharmaceutical companies acquired portfolios of dermatology brands from the likes of Allergan plc (NYSE: AGN) and Bayer AG (BAYGn.DE). Barcelona-based Almirall, S.A. (MCE: ALM) was the only company to disclose a price in its announcement. It agreed to pay $550 million upfront for Allergan’s U.S. dermatology portfolio,  and a possible earn-out of up to $100 million based on... Read More »

Health Care M&A Deals, Week Ending August 3, 2018

by | Aug 3, 2018 12:44 pm | Healthcare Market Updates

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 Century Park Capital Partners Dominion Youth Services N/A Universal Health Services, Inc. Danshell Group N/A Hackensack Meridian Health Carrier Clinic Merger Biotechnology Acquirer Target Price AbCellera Biologics, Inc. Lineage Biosciences N/A... Read More »

Marlin Equity Exits AdvancedMD

by | Aug 2, 2018 3:12 pm | eHealth, Private Equity

Marlin Equity Partners is parting ways with AdvancedMD Software, Inc. The exit was announced on August 2, 2018, almost three years to the day that Marlin announced its acquisition of the company on August 6, 2015. Private equity firms are trading healthcare tech and services companies with abandon these days, and there’ve been several take-private deals and carve-outs announced this year. The largest to date is KKR & Co.’s (NYSE: KKR) $9.9 billion deal for Envision Healthcare Corp. (NYSE: EVHC), but we can add Altaris Capital Partners’ $1.1 billion acquisition of medtech company Analogic Corporation (NASDAQ: ALOG), Platinum Equity’s $2.1 billion deal for Johnson... Read More »

Biogen’s $1 Billion Collaboration

by | Jul 31, 2018 1:42 pm | Biotechnology

The biggest biotechnology deal announced in July came from Biogen Inc. (NASDAQ: BIIB), which specializes in treatments for neurological, autoimmune and hematologic disorders. The company inked an exclusive, 10-year collaboration agreement with Ionis Pharmaceuticals (NASDAQ: IONS) to develop novel antisense drug candidates for a broad range of neurological diseases. The price is a combination of $375 million upfront and $625 million to acquire approximately 11.5 million shares of Ionis’ common stock. Biogen may eventually pay development milestones of up to $125 million, or $270 million for each program, depending on the indication, and royalties on net sales. Biogen will have the... Read More »

MedReleaf Makes MED Colombia Deal

by | Jul 27, 2018 4:38 pm | Pharmaceuticals

MedReleaf Corp. (TSX: LEAF) has a new South American subsidiary. The Markham, Ontario-based producer of cannabis-based pharmaceutical products, announced last week it has acquired MED Colombia SAS, in Bogota. The price was $3,120,000. MED Colombia has licenses in Colombia to cultivate cannabis and produce cannabis oil extracts, along with a library of cannabis genetics. With this acquisition, MedReleaf is able to produce low-cost, high quality raw materials to serve its global supply chain, as well as the domestic Colombian medical cannabis market. Colombia legalized medical cannabis in 2015, and MedReleaf has had a team operating there since 2017. On a trailing 12-month basis, MedReleaf... Read More »

Apothecare Pharmacy, LLC Acquired by Clearview and Starboard

by | Jul 27, 2018 4:26 pm | Other Services, Private Equity

Brockton, Massachusetts-based Apothecare Pharmacy, LLC has new owners. The institutional pharmacy was recently recapitalized by Clearview Capital Fund III, LP and Starboard Capital Partners, LLC. Financial terms were not disclosed. Apothecare targets the behavioral health sector in group homes and community-based settings in Massachusetts. The pharmacy’s primary patient base, which includes individuals with intellectual and development disabilities, has complex medication requirements. It serves more than 6,000 people in more than 700 group homes and other settings. Clearview and Starboard partnered with the Apothecare’s CEO and owner, Rudy Dajie, to recapitalize the business and... Read More »

Financial Buyers Roared into Health Care Deals in Q2:18

by | Jul 27, 2018 4:10 pm | Private Equity

Financial buyers, which include real estate investment trusts (REITSs) and private equity firms, are not the dominant players in the health care M&A market, although REITs have been moving into the Hospital sector in recent years. Middle-market private equity firms have had a hard time getting into and then winning auctions for healthcare entities in recent years, as strategic buyers and even some global private equity firms have outspent or even pre-empted auctions. Financial Buyers Q2:17 Q3:17 Q4:17 Q1:18 Q2:18 Deals announced 77 82 79 84 110 Share of deal volume 20% 21% 20% 20% 24% Dollars committed* $31,021 $6,229 $2,276 $3,056 $25,821 Share of dollars spent 32% 14% 2% 3% 18% * =... Read More »

LifePoint Health Goes Private with Apollo Global Management

by | Jul 27, 2018 3:53 pm | Hospitals, Private Equity

More for-profit hospitals are landing in the hands of private equity firms. On July 23, LifePoint Health, Inc. (NASDAQ: LPNT) announced its acquisition by private equity firm Apollo Global Management (NYSE: APO) for $5.6 billion. It will be merged with Apollo’s portfolio company, RCCH HealthCare Partners. The deal takes LifePoint Health private, although the combined company will operate under the LifePoint Health name and will be led by LifePoint’s current chairman and CEO, William F. Carpenter III. The combined company will have 84 non-urban hospitals in 30 states, pro forma 2017 revenues of more than $8 billion, as well as 7,000 affiliated physicians, approximately 60,000... Read More »

Health Care M&A Deals, Week Ending July 27, 2018

by | Jul 27, 2018 2:32 pm | Healthcare Market Updates

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 Biogen Inc. Collaboration on antisense drug candidates $1.0 billion Sangamo Therapeutics, Inc. TxCell S.A. $179 million Eli Lilly and Company Exclusive collaboration on protein targets $44 million Biogen Inc. ALG-801 and ALG-802 $27.5 million Nabriva... Read More »

PE Firms Go in Big for Dental Deals

by | Jul 20, 2018 3:57 pm | Other Services, Private Equity

Buying dental practices has been a competitive sport for a few years now, especially among private equity firms. Eighteen deals for dental practices have been announced through July 20 this year (no prices, of course). In all of 2017,  30 deals for dental practices were announced, with the buyers either private equity firms getting in on the action, or making add-on acquisitions. Last year’s consolidations have become large platforms today. One example is Western Dental Group, a portfolio company of New Mountain Capital since 2012, which has been cobbling together a California base focused on pediatric and family dental practices. In 2017, Western Dental added 14 Smile Wide offices... Read More »