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Stat of the Week: October Deal Volume +9%
After a few months of slow going, healthcare deal volume revved up in October. Although it’s the start of the typically busy fourth quarter, we’ve learned not to expect past performance to indicate future results. Preliminary data shows 130 transactions were announced, up 9% compared with the 119 deals announced in both September 2017 and October 2016. Deal value was comparatively strong, as well. The $12.1 billion reported for October 2017 is 4% higher than the previous month ($11.7 billion), but 8% lower than the same month a year ago ($13.2 billion). Three deals came with $1 billion-plus prices and a combined total of $8.5 billion, or 70% of the month’s spending. By contrast, September... Read More »
Deal of the Week: Novartis/AAAP
Novartis AG (NYSE: NVS) has spent most of 2017 buying up licenses to preclinical candidates. In the first 10 months of this year, it spent approximately $225 million in disclosed upfront payments. But the Swiss drugmaker just spent $3.9 billion for a more established drug product targeting neuroendocrine tumors. On October 30, 2017, Novartis acquired Advanced Accelerator Applications S.A. (NASDAQ: AAAP), a French radiopharmaceutical company that develops, produces and commercializes molecular nuclear medicines including Lutathera® (177Lu-DOTATATE), a first-in-class RLT product for neuroendocrine tumors (NETs). The radiopharmaceutical was approved in Europe last month for the treatment of... Read More »
Biotechnology Deal Volume Slides 22% in Q3
Biotechnology deal activity slid further in the third quarter, down 22% to 42 transactions, compared with the second quarter’s 54 transactions. The total represents 19% of the 217 deals announced in the previous 12 months. Deal making may have slowed in the face of growing complaints from President Trump about the high cost of drugs, and Congressional hearings were set to begin in mid-October. While M&A in the Pharmaceutical sector has been hit harder, most companies are dependent on biotechnology companies to innovate novel therapies in various areas. In the third quarter, nine of the 42 transactions involved the purchase of an entire company, and 33 involved the rights or license to... Read More »
Stat of the Week: CVS’s 10.9x EBITDA
If you can’t beat ’em, buy ’em. Or be bought. That’s the path Aetna (NYSE: AET) is taking, perhaps, as the healthcare industry reacts to news that the health insurer is in talks with CVS Health Corp. (NYSE: CVS) to be acquired for $200 per share, approximately $66 billion. The deal may never be consummated, but it’s gotten a lot of analysts weighing in on the paradigm shift it would bring to the industry. Frank Morgan of RBC Capital Markets gave the nod to vertical integration between managed care organizations, pharmacy benefit managers (PBMs) and providers, given that the managed care companies’ push for horizontal integration in 2013 ended badly... Read More »Health Care M&A Weekly Deals, The Week Ending October 27, 2017
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 Meridian Behavioral Health New Beginnings Minnesota N/A Biotechnology Acquirer Target Price Finch Therapeutics Crestovo N/A AbbVie Inc. Collaboration on... Read More »
Meridian Behavioral Health Takes Minnesota
Minneapolis-based Meridian Behavioral Health, a portfolio company of Audax Private Equity, is now the largest provider of behavioral health care services in Minnesota. Meridian provides care to individuals suffering from substance use disorders with co-occuring mental illness. On October 25, it announced the acquisition of New Beginnings Minnesota, which provides inpatient and outpatient substance abuse care. Financial terms were not disclosed. New Beginnings’ residential campuses are supported by six outpatient clinics located in Minnetonka, Elk River, Litchfield, Olivia, St. Peter, and Worthington, Minnesota. The transaction makes Meridian the largest provider of behavioral health... Read More »
Deal of the Week: Concentra/Dignity Health
Even as it continues merger talks with the troubled hospital chain, Catholic Health Initiatives, Dignity Health sold its rehabilitation and occupational health division, U.S. HealthWorks for $753 million. The acquirer, Concentra Group Holdings, is jointly held by Select Medical Corporation (NYSE: SEM), Welsh, Carson, Anderson & Stowe and minority equity shareholders including Cressey & Company. The combination will bolster both companies’ urgent care platforms as new payment models push for care delivery outside of hospital setting. Dignity Health will receive a 20% equity interest in the combined entity, valued at $238 million, and the remainder of the purchase price in... Read More »Health Care M&A Weekly Deals, The Week Ending October 20, 2017
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 Invo Healthcare Autism Home Support Services N/A Biotechnology Acquirer Target Price Syndax Pharmaceuticals, Inc. License to portfolio of small molecule... Read More »
Are Hospitals Dead? The Future of the Hospital
Join us this Thursday, October 26, at 1:00 pm ET, for our webinar, “Are Hospitals Dead? The Future of the Hospital.” Lisa Phillips, editor of HealthCareMandA.com, will moderate the lively discussion with panelists David Friend, MD, managing director and chief transformation officer at BDO, Bobby Guy, shareholder at Polsinelli, and Patrick Pilch, managing director and national healthcare advisory leader at... Read More »Schedule a demo
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