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Managed Care Sector Had a Big Q4:17
The fourth quarter of 2017 will be remembered for some time to come, thanks to the game-changing deal announced between pharmacy/retailer CVS Health and Aetna, one of the largest managed care companies in the country. That was only one deal, of course, and there were actually 10 transactions announced in Q4:17. Fourth quarter deal volume represents a 38% share of the 26 deals announced in the previous 12 months, and a 150% increase over the same quarter in 2016. Source: HealthCareMandA.com, January 2018 Two of the 10 deals disclosed prices in the fourth quarter, for nearly $80.6 billion, the highest ever recorded in this sector, or several others. The total represents 95% of the $84.7... Read More »
Tax Overhaul Boosted Pharma Deals in Q4:17
The dam broke in the fourth quarter of 2017, and pharmaceutical deal makers began acquiring again. The Republican tax overhaul that lowered the tax rate for corporations’ repatriated cash was approved in December, spurring big drug companies to think about mergers and acquisitions once again. Deal volume in the fourth quarter shot up 100% over the previous quarter, to 34 transactions. Q4:17 basically equaled the same quarter in 2016, when 33 deals were announced. This quarter’s deal volume accounts for 35% of the 96 deals announced in the previous 12 months. Source: HealthCareMandA.com, January 2018 Twenty of the 34 announced transactions disclosed a price, making for a total of $6.9... Read More »
Deal of the Week: Alliance PT/Agility Health LLC
Alliance Physical Therapy Partners, a portfolio company of GPB Capital, added on to its growing rehabilitation platform last week. On February 9, its affiliate, Physical Therapy Management, LLC signed a definitive agreement to acquire the U.S. operations of Agility Health, Inc. (TSXV: AHI), known as Agility Health LLC. Alliance PT will acquire 100% of the membership interests in Agility Health, LLC, based in Grand Rapids, Michigan, for a total transaction value of $45 million. Agility Health’s U.S. division operates over 50 outpatient or on-site physical therapy clinics, and also provides contract rehabilitation services to over 90 hospitals, inpatient rehabilitation units, long-term care... Read More »Health Care M&A Weekly Deals, The Week Ending February 2, 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 Transitions, Inc. Drug and alcohol treatment center N/A Biotechnology Acquirer Target Price Shire plc Global license to PRIM program N/A Medison Pharma, Ltd. License to Nerlynx in Israel N/A... Read More »
Biotechnology Gets the Usual January Boost
The Biotechnology sector roared to life in 2017, posting a record 209 transactions. That’s 20% higher than the 174 deals announced in 2016. The previous record for the sector was set in 2009, with 193 transactions announced in the space. Spending for those 209 deals in 2017 didn’t set new records, but did post an impressive $54.5 billion in disclosed prices. That’s 283% higher than the $18.6 billion recorded in all of 2016, but not close to the secctor’s annual spending record of $93.9 billion, set in 2008. Every January, the Biotechnology Showcase is held in San Francisco, concurrent with the J.P. Morgan Healthcare conference. And every January, this sector sees... Read More »
PE Firms Swarmed to Behavioral Health in Q4:17
Deal activity in the Behavioral Health Care sector was consistent with most of the previous quarters. Although deal volume slipped 14% from the previous quarter, it rose 20% compared with the same quarter a year earlier. The fourth quarter’s total of 12 deals represents 22% of the 54 transactions announced in the past 12 months. Private equity firms accounted for all but one acquisition in the fourth quarter, as smaller firms sold companies and larger firms purchased them as add-ons to their existing portfolios. Universal Health Services (NYSE: UHS), which operates inpatient psychiatric hospitals, was the only publicly traded acquirer in this quarter. Substance abuse treatment programs and... Read More »
Partners and Care New England Move Forward, Slowly
It’s not easy getting from the letter-of-intent stage, through due diligence, to a definitive agreement. Many hospitals that announce an LOI agreement go into due diligence and don’t end up on the altar after all. That seemed to be the fate of the LOI announced last April (2017) between Boston-based Partners HealthCare System and Providence, Rhode Island-based Care New England (CNE). The two not-for-profit systems had held on-again, off-again talks previously, and now both organizations’ boards were willing to give a merger a go. CNE includes Kent Hospital (323 beds), Women & Infants Hospital of Rhode Island (247 beds), the VNA of Care New England, Butler Hospital, an... Read More »
Netsmart Adds HomeCare Accounting Solutions
Mergers and acquisitions in the Home Health & Hospice space are charging into 2018. Six deals were announced in the sector for the month of January, and more will likely turn up in the coming weeks. January’s total is already about half of the number of deals announced in this sector in the fourth quarter of 2017. It’s no surprise then that companies providing ancillary services to home health and hospice companies are seeing a surge in investor interest. Netsmart Technologies, jointly owned by Allscripts Healthcare Solutions (NYSE: MDRX) and GI Partners, has been building out front-office software solutions (think electronic health records) for providers in this area. Now... Read More »2017 Biggest Healthcare Deals by Sector
2017 was another big year for billion-dollar healthcare transactions. Among the deals that disclosed prices, 44 topped the billion-dollar mark, for a total of approximately $263.1 billion. Although that number seems high, there were 50 billion-dollar deals announced in 2015, although those totaled a slightly lower $240.1 billion. 2016 posted lower totals for both the number of billion-dollar deals (39) and combined prices ($194.1 billion). Of course the biggest healthcare deal in 2017 was the $77 billion acquisition of Aetna Inc. (NYSE: AET) by CVS Health (NYSE: CVS). But there were many more sizable transactions across the sectors, as the chart below illustrates. See how many you remember... Read More »Schedule a demo
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