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Health Care M&A Weekly Deals, The Week Ending June 16, 2017
Health Care M&A Weekly Deals, The Week Ending June 16,... Read More »RN Staffing Firm Sells for $88 Million
Cross Country Healthcare, Inc. (NASDAQ: CCRN) hasn’t announced an acquisition in more than a year. The company posted some rather soft numbers in Q1:17, owing to the slow pace of ramping up some new business wins in 2016. CEO William Grubbs told analysts on the following earnings call on May 4 that he still wasn’t satisfied with the results. What better remedy for slow organic growth than to make an acquisition? On June 13, the company announced it will pay an aggregate price of $88 million to acquire substantially all of the assets and business of Advantage RN, LLC and its affiliates, Advantage On Call, Advantage Locums and Advantage RN Local Staffing... Read More »Rehab Deals Have Risen Steadily Since 2013
The rehabilitation has historically been the smallest of all the healthcare sectors, typically accounting for the fewest number of deals and lowest dollar volume. Despite an abnormal 27 transactions announced in 2008, the sector generally saw between 10 and 20 deals a year, and minimal spending as well, (see chart below). Even after the Affordable Care Act was passed in 2010, when most health care services saw an influx in investment, the rehabilitation sector was largely ignored because some reimbursement headwinds at the time. But, as rehab facilities found their place in ACOs, reimbursement eased and large companies began to build their platforms in the highly fragmented sector,... Read More »MCOs Make Deals to Combat High Drug Costs
The rising cost of prescription drugs was part of many candidates’ campaign platforms in the 2016 national elections. The topic has not gone away, and is certainly a factor in the dearth of Big Pharma deals in 2017. Through June 15, M&A in the Pharma sector is down 43%, to 44 transactions, compared with the same period in 2016, which had 77 transactions. Spending is also down in for the first six months of 2017. Through June 15, acquirers announced $19.2 billion in committed financing, down 66% from the same period in 2016, when approximately $56.5 billion was spent. There are deals being done, regarding this issue, but most are not M&A. In fact, several managed care... Read More »Invitae Focuses on Digital Health Deals
Nearly every area of healthcare can benefit from enhanced digital health capabilities. That is one reason eHealth targets are now sought after by a variety of acquirers. Some recent deal activity shows how digital health intersects with the Laboratories, MRI & Dialysis sector. Invitae (NYSE: NVTA) is one of the fastest growing genetic information companies in the United States. The company processes DNA-containing samples, analyzes information about patient-specific genetic variation, and generates test reports for clinicians and their patients using an integrated portfolio of laboratory processes, software tools, and informatics capabilities. In 2017, the company has set its... Read More »
Chinese Investor Group Buys SciClone
The Pharmaceutical sector has been relatively slow on the M&A front this year. U.S. investors seem content to sit on the sidelines and wait for something to happen, such as the rumored takeover of Bristol-Myers Squibb (NYSE: BMY) by Pfizer. (NYSE: PFE) Only 43 deals have been announced through June 9, down nearly 47% compared with the same time last year. Then the Chinese investors arrived. On June 8th, 2017, SciClone Pharmaceuticals Inc. (NASDAQ: SCLN), a specialty pharmaceutical company that provides therapies for oncology, infectious diseases, and cardiovascular disorders, was purchased in a going-private transaction by a consortium of buyers. The... Read More »
Investors Want Health Care Services with No Strings Attached
Preliminary data for the month of May shows an encouraging uptick in deal volume, with the services sectors making up 66% of the total. Some 134 transactions were announced last month, a 30% increase over April’s anemic 103 deal volume total. But monthly transaction totals in 2017 are not keeping pace with those in 2016. A year ago, 151 transactions were announced, 11% higher than in May 2017. There’s no question that the ongoing uncertainty surrounding the American Health Care Act hangs heavily on healthcare investors. The Senate Republicans have been at work behind closed doors to craft a different deal than the one sent to them by the House Republicans in mid-May. From the handful of... Read More »PE Firms Team Up to Buy CROs
The contract research organization (CRO) industry continues to consolidate at a rapid pace in response to growing demand from pharmaceutical and biotechnology companies. But pharma and biotech serve as the customers in this industry, not the acquirers. Nearly all the buyers in 2017 are other CRO companies that are seeking scale. Private equity is also joining the party, accounting for the remaining portion of deals, including the largest disclosed deal this year. Last month, INC Research Holdings (NASDAQ: INCR) paid $4.6 billion for inVentiv Health, a CRO that also counts Advent International and Thomas H. Lee Partners as equal equity holders. The firms will retain their stakes following... Read More »Health Care M&A Weekly Deals, The Week Ending June 9, 2017
Health Care M&A Weekly Deals, The Week Ending June 9,... Read More »Schedule a demo
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