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June 2018 Deal Volume Settles into Summer Mode

by | Jul 6, 2018 12:29 pm | Healthcare Market Updates

June was a gentle month for deal making. As the first month of summer, preliminary data shows a slight drop in deal volume for the month, compared with a busier May. Investors seem to be taking the adage “Buy in May and go away” seriously. With a preliminary total of 122 transactions made public in June 2018, deal volume was down 10% compared with May’s 135 deals. Deal volume compared to June 2017 was off 8%. Long-Term Care deals, which typically make up the greatest share of monthly volume, were down to just 22 transactions (18% share) compared with 35 in the previous month. That’s the way the second quarter played out in this sector, with April deal volume spiking... Read More »

Catalent Takes Juniper Pharmaceuticals Private

by | Jul 6, 2018 11:49 am | CRO, Pharmaceuticals

Catalent, Inc. (NASDAQ: CTLT), a contract research organization (CRO), announced its acquisition of thinly traded nano cap Juniper Pharmaceuticals (NASDAQ: JPR) for $139.6 million. Catalent, based in Somerset, New Jersey, offers development services, delivery technologies and supply solutions for drugs and biologics. On a trailing 12-month basis, the company generated revenue of $2.4 billion, and EBITDA of $484.6 million. Juniper, based in Boston, Massachusetts, focuses on developing novel intra-vaginal therapeutics that address unmet medical needs in women’s health. This deal includes Juniper’s UK-based Juniper Pharma Services division, a high-end CRO. The transaction... Read More »

Boston Scientific Announces Fourth Deal in 2018

by | Jul 6, 2018 11:36 am | Medical Devices

In a quiet holiday week, Boston Scientific Corporation (NYSE: BSX) made some news with its $202 million acquisition of privately held Criterion Medical, Inc. Founded in 2016, Criterion Medical has developed a single-shot cryoablation platform for the treatment of atrial fibrillation (AF). Boston Scientific already held a 35% stake in the Carlsbad, California-based company. The $202 million paid for the 65% it didn’t already own. The addition of this cryoballoon platform positions Boston Scientific as the first to have both cryothermal and radiofrequency (RF) single-shot, balloon-based ablation therapies in its portfolio. This is Boston Scientific’s fourth announced acquisition... Read More »

Health Care M&A Weekly Deals, The Week Ending June 29, 2018

by Margaret Mark | Jun 29, 2018 3:21 pm | Healthcare Market Updates

We hope you are enjoying your membership to HealthCareMandA.com. This Health Care M&A Weekly chart below is a selection of transactions announced during the prior week(s). The deals presented here are further elaborated in the monthly newsletter, Health Care M&A News, and in the quarterly report. This information also appears in our online database, Deal Search Online. Visit www.dealsearchonline.com to open a guest account and begin your search. Behavioral Health Care Acquirer Target Price BelHealth Investment Partners Beach House Center for Recovery N/A Biotechnology Acquirer Target Price Akebia Therapeutics, Inc. Keryx Biopharmaceuticals, Inc. Merger Bio-Techne Corporation... Read More »

Amazon Scoops Up PillPack for $1 Billion

by | Jun 28, 2018 11:42 am | Other Services

Amazon (NASDAQ: AMZN) finally took the plunge into the pharmaceutical market with its approximately $1 billion acquisition of five-year-old PillPack, an online pharmacy startup based in Manchester, New Hampshire. Financial terms weren’t disclosed in the deal’s announcement, but on June 28, the day of the announcement, The Wall Street Journal quoted sources on the price. In April 2018, Walmart (NYSE: WMT) was reported to be in discussions with PillPack, and targeting a price under $1 billion, according to CNBC. Amazon was also said to be holding  discussions with the company at the time. PillPack is an online pharmacy that delivers medications in pre-sorted dose packaging and... Read More »

Lourdes Health Merges with Virtua

by | Jun 28, 2018 10:20 am | Hospitals

In early June, the boards of Virtua Health and Maxis Health System, an entity of Trinity Health, signed a definitive agreement to merge Maxis Health’s Lourdes Health System with Virtua. Virtua Health operates three hospitals in South Jersey, as well as the 500-physician Virtua Medical Group, eight urgent care centers, multiple ambulatory surgery centers, home health services, long-term care and rehabilitation centers. Lourdes Health System, based in Camden, New Jersey, is one of the region’s leading healthcare providers. It consists of two hospitals, Our Lady of Lourdes Medical Center (257 beds) in Camden, Lourdes Medical Center of Burlington County (122 beds), Lourdes Medical... Read More »

MedEquities Realty Acquires Vibra IRF Assets

by | Jun 28, 2018 10:02 am | Rehabilitation

Vibra Healthcare LLC has sold the real estate assets of its 60-bed Southern Indiana Rehabilitation Hospital, an inpatient rehabilitiation facility (IRF) it acquired on April 30 this year from KentuckyOne, a subsidiary of Ascension. The hospital is located in New Albany, Indiana, a suburb of Louisville, Kentucky, where KentuckyOne is based. The buyer, MedEquities Realty Trust, Inc. (NYSE: MRT), agreed to pay $23.4 million for the 64,380-square foot facility, with an average price-per-bed of $390,000. The company concurrently executed a 15-year triple-net lease of the IRF with Vibra at an initial lease rate of 9.0% with annual escalators. Vibra will convert the 26 beds currently used as... Read More »

Health Care Weekly Deals, Week Ending 6-22-18

by | Jun 25, 2018 9:56 am | Healthcare Market Updates

We hope you are enjoying your membership to HealthCareMandA.com. This Health Care M&A Weekly chart below is a selection of transactions announced during the prior week(s). The deals presented here are further elaborated in the monthly newsletter, Health Care M&A News, and in the quarterly report. This information also appears in our online database, Deal Search Online. Visit www.dealsearchonline.com to open a guest account and begin your search. eHealth Acquirer Target Price AlayaCare Canesto Systems, Inc. N/A Quest Analytics BetterDoctor N/A Verscend Technologies Cotiviti Holdings, Inc. $4.9 billion Anju Software MDC Partners N/A Wildflower Health Circle Women’s Health... Read More »

Community Psychiatric Clinic Merges with Navos

by | Jun 22, 2018 2:37 pm | Behavioral Health Care

Two Seattle-based not-for-profits have teamed up to scale up, essentially. Community Psychiatric Clinic (CPC) and Navos, a wholly owned affiliate of MultiCare Health System, announced their merger on June 14. Navos is the public behavioral health provider for more than 40% of all youth served in the King County community behavioral health system, and is the largest behavioral health provider in Washington state. CPC operates four clinics in Belltown, Lake City, North Gate and Wallingford, and provides mental health, substance abuse disorder treatment programs, as well as supportive housing services. Navos offers a full spectrum of behavioral health services to more than 12,000 low-income... Read More »

Veritas Capital Doubles Down on Digital Health

by | Jun 20, 2018 2:40 pm | eHealth, Private Equity

Veritas Capital Management has made some aggressive moves into the digital health space in recent years. Its investment focus is on companies that provide critical products and services, not just in healthcare, but also in aerospace and defense, communications, energy and education. So its recent activity is interesting, and expensive. In April 2016, Veritas paid $820 million to acquire Verisk Health from its parent, Verisk Analytics, Inc. (NASDAQ: VRSK). Verisk Health provides data services, analytics and advanced technology to support value-based healthcare delivery and payment systems. At the time of the sale, it had 350 clients in the United States. The price consisted of $720 million... Read More »