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Health Care M&A Weekly Deals, The Week Ending March 23, 2018
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 Netcare Limited Akeso Clinics $108 million Biotechnology Acquirer Target Price UCB S.A. Exclusive license to inflammatory drug candidate N/A SYGNIS AG TGR Biosciences $7.98 million Knight... Read More »
Physician Practices Find Many Buyers
The first quarter of 2018 is nearly over (one week left to go), and the Physician Medical Group sector is still in acquisition mode. Last year, the first quarter saw a record 59 deals announced for physician groups. This year’s Q1 total won’t challenge that, but the 30 deals reported so far show interest isn’t waning for buyers or sellers. We’ve written extensively about private equity groups building platforms of specialty practices, particularly dermatology, anesthesia and ophthalmology. But publicly traded entities are still in the hunt. In the first three weeks of March 2018, 13 deals for physician practices were announced, although none disclosed financial... Read More »
Boston Scientific Makes Two Deals in March
Boston Scientific Corporation (NYSE: BSX) has had a busy month, and March 2018 isn’t over yet. On March 5, the medical device maker disclosed a deal for EMcision, Limited, based in Montreal, Quebec. The acquisition will expand the Boston Scientific Endoscopy portfolio to include the Habib EndoHPB probe, a novel endoscopic bipolar radiofrequency device, which coagulates tissue in the gastrointestinal tract. The Habib probe has been cleared by the U.S. FDA and received CE mark in the European Union. Although financial terms for the deal were not disclosed, BSX said the acquisition is expected to be immaterial to earnings per share in 2018 on an adjusted and GAAP basis and accretive... Read More »
Eastern Niagara to Merge with Kaleida Health
This is a story that will be familiar to all not-for-profit hospital deal watchers. In April 2016, Eastern Niagara Health and Kaleida Health, two Niagara Frontier healthcare systems, announced their affiliation, with Lockport, New York-based Eastern Niagara tapping into Buffalo-based Kaleida Health’s network. Eastern Niagara Health operates the 136-bed Eastern New York Hospital in Lockport, an outpatient/urgent care facility in Newfane, and an ambulatory surgery/primary care practice in Lockport. Kaleida Health is the largest not-for-profit health system in western New York, serving eight counties with four hospitals, two long-term care facilities and more than 80 outpatient clinics.... Read More »
REVA Lands at Beekman Investment Partners
Beekman Investment Partners, a New York-based private equity firm, recently recapped REVA, Inc., the largest global fixed-wing air medical platform in the United States. The deal was closed along with strategic partner Directional Aviation LLC and Goldman Sachs Specialty Lending Group. REVA was formed in 2012 through the merger of AeroJet International and Air Ambulance Professionals. In the past six years, REVA has grown to be the global market leader in international long-range air medical transports and has set the standard for safety, reliability and patient service excellence. The company has bases of operations in Ft. Lauderdale, Florida, San Juan, Puerto Rico, Phoenix, Arizona and... Read More »
Health Care M&A Weekly Deals, The Week Ending March 16, 2018
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. Biotechnology Acquirer Target Price H. Lundbeck A/S Prexton Therapeutics B.V. $123 million ImmunoRestoration, Inc. Exclusive license to cancer vaccine platform N/A eHealth Acquirer Target Price Cognizant Technology Solutions Corp. Bolder... Read More »
CORA Announces Four (More) PT Acquisitions
CORA Health Services added four more physical therapy companies to its growing platform. A portfolio company of Gryphon Investors since June 2016, CORA Health operates more than 160 clinic locations in seven states. When Gryphon first invested, the company operated more than 100 clinics in Florida, Michigan, and South Carolina. The latest additions add to existing geographic footprints in Georgia (adding West Rehab & Sports Medicine in Savannah), North Carolina (adding Accent Physical Therapy in Wilmington) and Tennessee (adding Champion Physical Therapy in Knoxville and 14 other locations, including Kentucky). With the acquisition of Professional Therapies of Roanoke, CORA Health... Read More »
Laborie Medical Takes Over Congentix Medical
Cogentix Medical, Inc. (NASDAQ: CGNT) is a global medical device company that offers products for flexible endoscopy and the treatment of overactive bladder and urinary incontinence. Its majority share owners, Accelmed Growth Partners LP and Mr. Lewis Pell, who collectively own approximately 60% of Cogentix Medical’s outstanding common stock, agreed to an offer of $3.85 per share (approximately $214 million) from Laborie Medical Technologies (LMT), a subsidiary of Patricia Industries. The offer of $3.85 per share in cash represents a premium of 28% over the average closing price of Cogentix Medical common stock over the last 30 days. In July 2017, Cogentix paid $671,817 (£515,000)... Read More »
BayMark Health Moves into Canada
BayMark Health Services, based in Lewisville, Texas, made its first foray into Canada this month with the acquisition of Canada’s largest chain of methadone clinics, Canadian Addiction Treatment Centers (CATC), a company that includes 72 opioid-treatment clinics, 19 pharmacies and one residential addiction-treatment center, all in Ontario. This is BayMark’s 10th acquisition since it was formed in 2015, when Webster Capital combined Bay Area Addiction Research and Treatment Inc. (BAART), acquired in June 2015, and MedMark Services, acquired in October 2015 from Capital Resource Partners. That combination created the third-largest methadone provider in the United States. Previous... Read More »Schedule a demo
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