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KRG Capital Splits and Sells Vention Medical

by | Feb 24, 2017 2:47 pm | Medical Devices, Private Equity

Vention Medical Inc. has undergone some major changes this year, and it’s still the first quarter. Vention, a portfolio company of KRG Capital Partners, designs and manufactures complex medical devices and components used in interventional and minimally invasive surgical products. As of February 20th, its two core business units were sold to separate companies. Vention Medical consisted of the Advanced Technologies (Vention AT) business and a separate Device Manufacturing Services (Vention DMS) business, a contract manufacturing operation. Nordson Corporation (NASDAQ: NDSN) acquired Vention AT for $705 million in an all-cash transaction on February 20, 2017. This... Read More »

Steward Health Buys 8 Community Health Hospitals

by | Feb 17, 2017 4:49 pm | Hospitals, Private Equity

It’s no secret that Community Health Systems (NYSE: CYH) is selling off hospitals and medical office buildings to pay down its $15 billion debt. Its latest deal offloads eight hospitals with a total of 1,818 beds in Florida, Ohio and Pennsylvania to Steward Health Care LLC for an undisclosed price. The hospitals involved in this deal are Wuesthoff Health System-Melbourne (119 beds) in Melbourne, Wuesthoff Health System-Rockledge (298 beds) in Rockledge, and Sebastian River Medical Center (154 beds) all in Florida; ValleyCare Health System of Ohio, which consists of Northside Medical Center (355 beds) in Youngstown, and Trumbull Memorial Hospital (311 beds) and Hillside Rehabilitation... Read More »

Allergan and Hologic Add Aesthetic Devices

by | Feb 15, 2017 9:58 pm | Medical Devices

Two days in February, two multi-billion-dollar deals in the Medical Device sector. But these aren’t your everyday deals for prosthesis, abdominal stents or novel surgical tools. Both target companies fall into the medical aesthetics category of medical devices, which includes body contouring and other cosmetic procedures that are generally cash-pay businesses. On February 13, 2017, Allergan plc (NYSE: AGN) purchased ZELTIQ® Aesthetics, Inc. for $2.48 billion, or $56.50 per share. ZELTIQ® Aesthetics develops and commercializes products utilizing its controlled-cooling technology platform. Its flagship CoolSculpting system is FDA-cleared to affect appearance through lipolysis or... Read More »

Quotient Clinical Builds a U.S. CRO Presence

by | Feb 15, 2017 9:46 pm | CRO, Other Services

The clinical research (CRO) market in the United States has attracted the interest of foreign investors looking to build up their platforms overseas. Quotient Clinical, a privately-held CRO based in Edinburgh, Scotland, acquired two U.S.-based CROs in February 2017, in an effort to bring its innovative Translational Pharmaceutics ® platform to America. But this CRO had to change a few hands over the past few years before it could reach acquirer status. In December 2013, the U.K.-based Quotient Bioresearch Group sold Quotient Clinical to London-based Bridgepoint Development Capital, marking Bridgepoint’s entry into a growing CRO market. Just two years later, in December 2015,... Read More »

REIT Deals for Hospitals Are Picking Up

by | Feb 10, 2017 7:36 pm | Hospitals, Private Equity

Most acquisitions in the Hospital sector are made by another hospital or health system. In 2016, 59% of U.S. hospital acquirers were not-for-profit organizations, down from 65% in 2015 but still the majority. Lately, real estate investment trusts (REITs) have taken an interest in the hospital sector, where there seems to be no end to the supply of struggling standalone hospitals. Eight deals were announced by REITs in 2016, involving 19 hospitals, for a approximately $1.5 billion. Many of the target hospitals or systems were owned by private equity firms which wanted out. That was the case in September 2016, when Cerberus Capital Management sold off the real estate assets of its portfolio... Read More »

January Deal Volume Beats December 2016 and January 2016

by | Feb 10, 2017 5:44 pm | Biotechnology, Pharmaceuticals, Physician Medical Groups

The year got off to a good start, as far as mergers and acquisitions are concerned. Deal volume reached 156 transactions in January, up 19% compared with December 2016, and up 50% over January 2016. It’s easy to point to the annual J.P. Morgan Healthcare Conference, held in January, as the cause of the sudden boost, particularly in the Biotechnology and eHealth sectors. But the conference didn’t have the same effect last January, when just 104 deals were reported, and those two sectors didn’t see comparable deal volume. If anything, deal volume might have been expected to decline, considering all the “repeal and replace” talk from the incoming Republican administration. That obviously... Read More »
Telehealth Deals Dial Up in Early 2017

Telehealth Deals Dial Up in Early 2017

by | Feb 10, 2017 5:07 pm | eHealth, Private Equity

Three telehealth deals have been announced in the first six weeks of 2017, an indication that this sub-sector of digital health is on track to set a(nother) M&A record. In 2016, eight of these deals were announced, an increase of 100% compared with 2014 and 60% versus 2015. Telehealth is loosely defined as the use of technology to support long-distance clinical healthcare. Some examples include live video between a patient and healthcare provider, transmission of medical images to a specialist, and remote monitoring which allows patients and providers to track vitals and manage chronic conditions. On February 2nd, 2017, Specialists On Call, Inc., a portfolio company of Warburg Pincus... Read More »

CRO Deals Are Hot and About to Get Hotter

by | Feb 9, 2017 9:49 pm | CRO, Other Services, Private Equity

The need for outsourced research and development services has caused a huge increase in the number of deals for contract research organizations (CROs) and contract manufacturing organizations (CMOs).  In 2016, 36 acquisitions of CROs and CMOs were announced in 2016, a 157% increase from 2015’s total of 14 deals, according to data reported in the Health Care Services Acquisition Report, 2017. That pace is picking up. In the first six weeks of 2017, six CRO/CMO deals have been announced,with even more to come. Last week, Reuters reported that Laboratory Corp. of America Holdings (NYSE: LH) is in talks to buy Pharmaceutical Product Development LLC (PPD), a portfolio company of Hellman &... Read More »