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CROs Are Buying, Too
A few CROs, like PRA Health Sciences, are turning to eHealth acquisitions to strengthen their data technology capabilities. We already know that CROs are popular targets. But CROs can play the role of acquirer, too. Lately, a few of these companies have been busy claiming eHealth targets to advance their technological capabilities, namely data capabilities. On August 7, 2017, PRA Health Sciences, Inc. (NASDAQ: PRAH) acquired privately-held Symphony Health Solutions Corporation. The deal valued Symphony at $530 million, or 2.65x revenue. But, that value could be even larger depending on Symphony Health exceeding financial targets in 2017 and 2018 Symphony Health Solutions Corporation... Read More »
PE Firms Pay Big for Medical Transportation
KKR & Co., through its portfolio company, is the second private equity firm to pay more than $2 billion for a medical transportation company in 2017. The medical transportation market, falling under the “Other Services” category, has seen a couple of large deals in 2017, as some big name companies decide to change hands. On August 8, 2017, Envision Healthcare Corporation (NYSE: EVHC) announced it was selling its medical transportation subsidiary, American Medical Response (AMR), to Air Medical Group Holdings, Inc. (AMGH), a portfolio company of KKR & Co. (NYSE: KKR). The deal comes more than two years after KKR bought it from Bain Capital and Brockway Moran for an undisclosed... Read More »Health Care M&A Weekly Deals, The Week Ending August 4, 2017
Health Care M&A Weekly Deals, The Week Ending August 4,... Read More »Summer Heat Sinks Deal Making in July
Deal makers took a break in July, judging by the lower deal volume and lower deal value posted in our preliminary data for the month. Compared with the previous month, deal volume dropped 20%, to 100 transactions, and deal value fell 49%, to $8.7 billion. Third quarters are typically slower for mergers and acquisitions, although there have been a few exceptions. In 2015, a record 411 deals were announced in Q3, which was 17% better than the same quarter in 2014, and 10% better than the third quarter in 2016. With little more than one month into Q3:17, we’ve logged 106 transactions. Not exactly a strong pace, but that could change. At this writing, the Senate Republicans failed to get the... Read More »PE Buyers Targeting Dental Groups in 2017
Financial buyers in healthcare services are interested in segments with unyielding demand and little medical risk. No wonder, then, that dental groups have become a major target for these investors, and we’ve got the data to prove it. . Dental group acquisitions remain a solid investment. Since 2014, acquisitions have risen steadily. Through August 1, 2017, 19 dental deals have been announced, a 6% increase compared with 2016’s total of 18 deals. This eight-month total is alread 72% higher than 2015’s total (11), and up 138% from 2014’s total (8). Private equity firms are almost entirely responsible for the ongoing consolidation. In 2017, 53% of buyers were private equity... Read More »Invitae Adds Reproductive Health Diagnostics
Just a month ago, we reported on molecular-diagnostics firm Invitae (NYSE: NVTA), and its interest in the eHealth sector, following the acquisition of two digital health companies. In July, the company set its sights on other laboratory companies and announced two more acquisitions. Invitae also separately announced that it will sell $73.5 million of its stock through a private placement to be led by existing investors with “significant” participation from multiple new investors, all unnamed. Invitae is one of the fastest growing genetic information companies in the United States, whose longer-term strategy is to aggregate most of the world’s genetic tests into a single service with... Read More »LabCorp Lands a Global CRO
In late July, Laboratory Corp. of America Holdings (NYSE: LH) announced the 6th CRO deal to surpass the $1 billion mark this year. The $1.2 billion deal for Chiltern is its third announced transaction this year, having acquired Mount Sinai’s Clinical Outreach Laboratories (January) and Pathology Associates Medical Laboratories, LLC (February). Despite activity in the Laboratory, MRI & Dialysis sector, LabCorp was on the hunt for a CRO target all year, but with little luck. Back in February, it was rumored that LabCorp was looking to buy Pharmaceutical Product Development, LLC for $8 billion. PPD ended up going to Hellman & Friedman LLC, a long time... Read More »Health Care M&A Weekly Deals, The Week Ending July 28, 2017
Health Care M&A Weekly Deals, The Week Ending July 28,... Read More »Follow the Funding, July 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 Theranics Bio-ElectronicsLightspeed Venture Partners, LionBird and Corundum Open Innovation$6 million, Series AJuly 3, 2017 Diasome Pharmaceuticals, Inc.Medicxi Ventures, JDRF T1D Fund, Black Beret Life Sciences, LLC and McDonald Partners, LLC$30 millionJuly 5, 2017 Omni Eye ServicesNew MainStream CapitalUndisclosedJuly 6, 2017 GenooxInimiti Capital Partners and Glilot Capital$6 millionJuly 11, 2017 Allurion TechnologiesRomulus Capital, with Cogepa Investments and IDO Investments$27 million, Series... Read More »Schedule a demo
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