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Medical Device Sector Is Most Active in H1:17
The Medical Device sector has been humming. Granted, it comprises a huge range of things, from hip and knee joints to cardiovascular devices. Since 2016, 176 deals have been announced, and $102 billion has been committed based on 73 disclosed prices. Among the 176 deals, 14 target companies specialize in cardiovascular devices, 14 specialize in orthopedic and spine devices, 10 specialize in aesthetic devices each, and eight specialize in vascular devices, to name a few. The most recent deal, on July 10, was of a company that covered a very interesting niche of medical devices. ThermoGenesis Corp., a wholly-owned subsidiary of Cesca Therapeutics Inc., (NASDAQ: KOOL) acquired privately held... Read More »Health Care Deal Volume Slows in Q2:2017, As Dollar Volume Rises
Health care merger and acquisition activity slowed in the second quarter of 2017. Compared with the first quarter of 2017, deal volume decreased 15%, to 366 transactions. Deal volume was also lower compared with the same quarter the year before, down 14%. Combined spending in the second quarter reached $95.8 billion, an increase of 62% compared with the $59.1 billion spent in the previous quarter, according to HealthCareMandA.com. Second quarter deal value was up 8% compared with the $88.7 billion spent in Q2:16. Health care services transactions accounted for 52% of the second quarter’s dollar volume, much higher than the 14% share reported in the first quarter, and the 19% share recorded... Read More »
June 2017 Deal Volume Shows Continued Strength
Preliminary data for the month of June shows that investors are still bullish—or at least comfortable—betting on health care. Some 123 transactions were announced last month, an 11% decrease compared with May’s 138 transactions. Year over year, however, this early data is just 5% below the 130 deals announced in June 2016. For a little perspective, April 2017’s deal volume was just 104 transactions, which made the May numbers look very strong by comparison. June’s deal volume looks reassuringly healthy, as it is close to the year-ago total, and could be adjusted upward in the future as more deals come to light. The same trends we’ve noted in previous months are still playing out, too. Deal... Read More »Health Care M&A Weekly Deals, The Week Ending July 7, 2017
Health Care M&A Weekly Deals, The Week Ending July 7,... Read More »Kindred Exits Skilled Nursing Business
Kindred Healthcare (NYSE: KND) has made no secret that it is getting out of the skilled nursing business. It took until June 30 for the deal announcement to come, and when it did, it was a bit of a surprise that a single buyer was taking over the entire business. Private equity firm BlueMountain Capital Management, LLC, through a joint venture it is leading called BM Eagle Holdings, agreed to acquire Kindred’s 89 skilled nursing facilities. BlueMountain, you may recall, acquired the financially failing Daughters of Charity hospital system in California in July 2015, following the collapse of Prime Healthcare Services’ $849 million bid in March 2015. A week after this deal with Kindred... Read More »Konica Minolta Moves into Precision Medicine
Science is turning away from standardized treatment now that there is an understanding of how an individual’s genetic make up affects its response to different treatment. It is no surprise then, that drug development companies are looking to become top dogs in precision medicine. (“Precision medicine” is defined by the National Institutes of Health as medical care designed to optimize efficiency or therapeutic benefit for particular groups of patients, especially by using genetic or molecular profiling.) Success in precision medicine is dependent upon biomarkers that lend insight into a therapy’s efficacy. One simply cannot exist without the other, and for this reason,... Read More »2017 Is a Busy Year for Physician Medical Groups
The Physician Medical Group sector is on track for another busy year. As of July 5, 2017, 92 deals have been announced, a nearly 27% increase from the same period a year ago. And, with six months left to go in 2017, the sector is only 38 deals away from surpassing 2016’s record total of 130 deals. Envision Healthcare Corporation (NYSE: EVHC), a leading provider of physician-led outsourced medical services, announced three PMG deals in six days. Although no prices were disclosed, the acquisitions added anesthesia, emergency services, and multi-specialty clinics in Connecticut, Georgia, Illinois and Wisconsin. On June 29, Envision acquired Anesthesia Associates of New London, P.C., based in... Read More »2017’s Next Healthcare Trend: Go-Private Deals
Every year has its trends. In 2017, we’ve reported on mass consolidation of CROs and Physician Medical Groups, and a dip in pharmaceutical M&A, to name a few. Another trend we’ve observed is the large amount of going-private transactions in healthcare. In the first six months of 2017, 44 going-private transactions were announced, a 38% increase from 2016 and a 91% increase from 2015. In 2017, 45% of the 44 going-private transactions were initiated by financial buyers, and an additional 21% were announced by private equity-sponsored companies making add-on acquisitions. In 2016, 26% of these deals were initiated by financial buyers, and another 19% were PE-sponsored add-on... Read More »Follow the Funding, June 2017
Introducing a new monthly feature focused on various tranches and rounds of funding for healthcare ventures, startups and funds. Links indicate target companies and lead investors. TargetInvestorsAmountDate Bicycle TherapeuticsVertex Ventures HC, with new investors Cambridge Innovation Capital and Longwood Fund and existing investors Novartis Venture Fund, SROne, SVLS and Atlas Venture, with new investors Cambridge Innovation Capital and Longwood Fund and existing investors Novartis Venture Fund, SROne, SVLS and Atlas Ventures$51.4 million, Series BJune 1, 2017 Bright HealthGreenspring Associates, joined by Greycroft Partners, Redpoint Ventures and Cross Creek Advisors. Existing lead... Read More »Schedule a demo
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