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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 »
Behavioral Health Care Deals Rebound in Q3:17
The Behavioral Health Care sector has gained a lot of attention from private investors in recent years, thanks to the opioid addiction epidemic, in general, and to legislation such as the Mental Health Parity and Addiction Equity Act, in particular. Here is how deal volume looked in the third quarter of 2017, and the preceding four quarters. Deal activity rose in Q3:17, up 63% compared with the previous quarter, and up 86% compared with the same quarter a year earlier. The quarter’s total of 13 deals represents 29% of the 45 transactions announced in the past 12 months. The first quarter of 2017 benefitted from the passage of the 21st Century Cures Act in December 2016, which brought... Read More »
Stat of the Week: Q3:17 Dollar Volume -57%
The Health Care M&A Report, Third Quarter 2017 is going to press, and we wanted to share a few relevant statistics. Following robust spending in the second quarter, the third quarter’s total is 57% lower. Here’s the chart. Deal value in the third quarter totaled $42.7 billion, which was 57% lower than the previous quarter, and 13% lower than Q3:16’s $48.9 billion total. Deals on the Technology side of health care usually take the lion’s share of spending in each quarter, and that held true in the third quarter. Technology deals accounted for 59% ($25.3 billion) of the quarter’s spending. The Services sectors contributed 41% ($17.4 billion) of the period’s spending. In... Read More »
Top 10 Transactions in Q3:17
Ten of the largest deals announced in the third quarter broke the $1.0 billion mark, for a total of $29.9 billion (70% of the quarter’s total spending of $42.7 billion). The largest transaction, Gilead Sciences’ $11.9 billion acquisition of biotech firm Kite Pharma, made up 28% of the quarter’s combined total spending. KKR & Co. made three of these billion-dollar acquisitions, either directly or through portfolio companies, for a total of nearly $7.3 billion. All three targets were publicly traded companies in very discrete fields: internet healthcare source WebMD, air ambulance company American Medical Response, and the... Read More »Schedule a demo
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