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Follow the Funding, September 2017
This monthly feature focuses on various tranches and rounds of funding for healthcare ventures, startups and funds. Links indicate target companies and lead investors. TargetInvestorsAmountDate Entasis TherapeuticsClarus Funds, Frazier Healthcare Partners, Novo A/S, Eventide Funds, Pivotal bioVenture, Sofinnova Ventures and TPG Biotech$31.9 million Series B-1September 5, 2017 Synergy PharmaceuticalsCRG LP$300 million debt fundingSeptember 5, 2017 Mid-Atlantic Dental PartnersS.C. Goldman and Company, LLC$12.5 million September 6, 2017 WuXi NextCODESequoia Capital and Temasek, Yunfeng Capital and 3W Partners$240 million Series BSeptember 7, 2017 TalkspaceQumra Capital and Norwest Venture... Read More »
Quest Diagnostics Buys a Fresenius Lab
Deal volume in the Laboratories, MRI & Dialysis sector is up 6% from this time last year. On September 28, two major players in the laboratory space traded hands and began collaborating on a kidney disease project. Quest Diagnostics (NYSE: DGX), a leading provider of diagnostic testing in the United States, announced its purchase of Shiel Medical Laboratory, Inc. from Fresenius Medical Care (NYSE: FMS). Fresenius acquired Shiel Medical Laboratory in October 2013 via its subsidiary Spectra Labs, which is not affected by the divestiture. Founded in 1919, Shiel Medical is one of the oldest continuously operating clinical laboratories in the United States. Its main testing facility is in... Read More »
Deal of the Week: Shandong Weigao/Argon Medical Devices
In the first nine months of 2017, Chinese investment in U.S. healthcare companies rose 300% compared with all of 2016. Shandong Weigao Group (1066.HK), a Chinese developer of single-use medical devices, announced its acquisition of Texas-based Argon Medical Devices on September 24, marking the 12th acquisition by a Chinese company in 2017. Shandong agreed to pay $850 million for a 90% stake in the privately-held medical device maker. Argon develops, manufactures and sells devices for interventional radiology, vascular surgery, interventional cardiology, and critical care procedures, including biopsy products, drainage catheters and systems that remove blood clots. The company... Read More »
Stat(s) of the Week: 2017 Deal Volume Change, by Sector
If you thought 2017 has been slow for mergers and acquisitions, you must focus on the Home Health & Hospice or Pharmaceutical sectors. Those two top the list for underperforming sectors through September 27, 2017, compared with the same time last year. If you’re in Biotechnology, however, you’re not getting much sleep. We pulled data for the years 2016 and 2017, each set through September 27, just to see which sectors are up, and which are down. Overall, deal volume is 8% ahead of the same time last year, when the presidential election was raging. So far this year, we’ve recorded 1,105 transactions, compared with 1.024 in the same period in 2016. The... Read More »Health Care M&A Weekly Deals, The Week Ending September 22, 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. Biotechnology Acquirer Target Price Mitobridge, Inc. License to NAD+ intellectual property N/A Pluriomics B.V. Axiogenesis AG N/A InDevR, Inc. License to monoclonal antibodies N/A STEMCELL Technologies Inc. License to EpiX™ technology N/A... Read More »
CRO Deals Pile Up, and So Do the Multiples
After 34 announced transactions in 2017, the news that one contract research organization (CRO) bought another CRO is downright yawn-inducing. This space is undergoing rapid consolidation, no question. Before this week, those 34 deals had a combined total of approximately $20.9 billion. Add another deal, and another $950 million, and the market just got a tad smaller. Catalent, Inc. (NYSE: CTLT) announced the 35th deal in this sector on September 19. Its target, Indiana-based Cook Pharmica LLC, is a biologics-focused contract development and manufacturing organization (CDMO) with capabilities across biologics development, clinical and commercial cell culture manufacturing,... Read More »
Deal(s) of the Week: Teva, Take Two
Debt has been a key deal driver this year, particularly in the hospital sector, where Community Health Systems (NYSE: CYH), Quorum Health Corporation (NYSE: QHC) and Tenet Healthcare (NYSE: THC) are shedding less desirable assets. Joining them now is generic drug maker Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), which is shouldering $35 billion of debt brought on by its $40.5 billion acquisition of Allergan’s (NYSE: AGN) line of generics, announced in July 2015. The company hasn’t announced an acquisition since September 2016. What a difference a year makes, as generic drug prices have been squeezed and the company has been selling off non-core assets to pay down its... Read More »
Stat of the Week: Home Health & Hospice -27%
Mergers and acquisitions in the home health and hospice sector have continued a downward spiral, beginning in Q1:17. 2016 ended with 62 deals, which was a healthy rebound following a lackluster performance in 2015. The sector also experienced growing interest from financial buyers in that time. But, as of September 21, only 33 deals have been publicly announced, down 27% from the 45 deals announced in the same period last year. Based on disclosed prices, only $20.95 million has been spent, down 98% from the same period in 2016, when $1.0 billion had been committed to finance those deals. The bulk of this year’s spending total comes from a deal announced on March 1 by Amedisys, Inc.... Read More »
AAC Adds Addiction Treatment in New England
AAC Holdings, Inc. (NYSE: AAC), operator of American Addiction Centers, announced its first acquisition of 2017. The company is ramping up again after a hot streak in 2015, when it acquired seven companies for a combined $143 million. Since then, the once-serial acquirer has been quiet on the M&A front as it integrated all its new businesses. It resurfaced briefly in April 2016, when it purchased a sober living facility in Texas for $5 million. Then, on September 13, AAC announced its biggest deal to date. The target, AdCare, Inc., provides addiction treatment in New England. It operates a 114-bed hospital for substance abuse treatment and five outpatient centers in Massachusetts, as... Read More »Schedule a demo
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