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Reporters Notebook: 10th Annual ACG NY Healthcare Conference
The ACG New York chapter held its annual healthcare conference at the Metropolitan Club on February 23, as always, on the last Thursday of the month. We attended, along with more than 400 others involved in the healthcare industry. The evening’s topic, “The 2016 Election and Healthcare: What You Need to Know,” was obviously the big draw. Moderator Michael Gaffin, Marwood Group’s political strategist and head of its Washington office, played his cards close to the vest during most of the panel, but did opine that the Republicans will be able to do whatever they want to the Affordable Care Act, because they’ve been talking about it so long. On the panel were... Read More »KRG Capital Splits and Sells Vention Medical
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 »Recent Health Care Deals, week ending 02.17.2017
AcquirerTargetPrice Hologic, Inc. Cynosure, Inc. $1.58 billion Allergan plcZELTIQ Aesthetics, Inc. $2.48 billion ApolloBio CorporationLicense to VGX-3100$15 million Quotient Clinical Ltd. QS Pharma$75 million Joint ventureFoxbridge Assisted Living$10... Read More »Steward Health Buys 8 Community Health Hospitals
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
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
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
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 »Recent Health Care Deals, Week Ending 02.10.17
AcquirerTargetPrice Merit Medical Systems, Inc.Medical device products$48 million AMETEK, Inc.Rauland-Borg Corporation$340 million MedEquities Realty Trust, Inc.Advanced Diagnostics Hospital East$26.5 million Seattle Genetics, Inc.License to IMMU-132$250... Read More »January Deal Volume Beats December 2016 and January 2016
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 »Schedule a demo
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