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Rehabilitation Deals Still Rising, Thanks to Private Equity

by | Nov 10, 2016 8:57 pm | Private Equity, Rehabilitation

The year isn’t over, and the Rehabilitation sector has already equaled last year’s deal total. Thirty-three deals have been made public through November 11, 2016, compared with 33 in all of 2015. Spending is a bit lower at this point in 2016, at $623 million, down 21% compared with last year’s annual total of $799 million. That may change, depending on the number of deals that disclose prices between now and the end of the year. Four private equity firms have made acquisitions in this sector in 2016. Even though no price was disclosed, the largest was probably from Advent International, which acquired ATI Physical Therapy, a platform company based in Bolingbrook,... Read More »

NASH-Driven Deals Pile Up

by | Nov 9, 2016 5:06 pm | Biotechnology, Pharmaceuticals

On November 10, 2016, Bristol-Meyers Squibb (NYSE: BMY) purchased the exclusive worldwide rights to develop and commercialize Nitto Denko Corporation’s (TYO: 6988) investigational siRNA, which includes Nitto’s lead asset ND-L02-s0201. Nitto’s lead asset ND-L02-s0201 is currently in a five-week open-label Phase 1b study in patients with advanced fibrosis (F3-F4c) due to non-alcoholic steatohepatitis (NASH) or hepatitis C. Nitto Denko received a $100 million upfront payment as part of the license agreement, and it is not the first company to cash in on its product candidates for the possible treatment of NASH. NASH is characterized by fatty infiltration of the liver not caused by alcohol,... Read More »

PSA Healthcare Broadens its Texas Footprint

by | Nov 8, 2016 9:41 pm | Home Health & Hospice, Private Equity

PSA Healthcare, a portfolio company of J.H. Whitney Capital Partners, and a provider of pediatric home care for children with medical complexities, just expanded its presence in Texas to 12 offices with the acquisition of two Texas-based home health care agencies. The targets are Innovations Health Services of Tyler and San Antonio, Texas and Assure Home Healthcare of San Antonio, Texas. Both provide private-duty nursing to medically fragile children and their families in Texas. The Tyler location represents a new market for PSA. The San Antonio offices of Assure and Innovations represent a major investment in one of Texas’ largest markets for pediatric home care. This is PSA’s third... Read More »

October M and A Settles into Second Place

by | Nov 4, 2016 7:52 pm | Behavioral Health Care, Biotechnology, eHealth, Home Health & Hospice, Hospitals, Laboratories, MRI & Dialysis, Long-Term Care, Managed Care, Medical Devices, Other Services, Pharmaceuticals, Physician Medical Groups, Rehabilitation

What’s a synonym for “slowdown?” We’re as tired of writing about monthly deal volume dropping off as you probably are of reading about it. But M&A activity in October 2016 can only be summed up as slackening, declining, decelerating. Preliminary deal volume is now at the second-lowest level of the year, just 112 transactions. Only January’s deal volume was lower, at 104 transactions. We may have a few additions to October’s total as the fourth quarter grinds on, but it’s not typical to find another 15 deals. Deal value also dropped off. At $12.8 billion, it ranks as the second-lowest level of spending for the year. July 2016 still holds the honor of being the slowest month for... Read More »

Long-Term Care Sector Revs up in November

by | Nov 3, 2016 1:05 am | Long-Term Care

The Long-Term Care M&A market seemed to hit the doldrums, with 22 transactions in September and just 20 transactions in October. The sudden slowdown left us wondering if this could be the new norm after a red hot couple of years, where the sector averaged about 30 deals per month in 2015, and settled slowly down to 26 deals per month, through the end of October 2016. So the first week in November came as quite a shock. In the first two days of the month, two of the three largest transactions of the year were announced, along with a $337 million deal for 31 skilled nursing facilities. Sixteen transactions in this sector were announced in the first four days of November, 80% of October’s... Read More »

Medivir Sheds its Established Pharma Company for Clinical Stage Programs

by | Nov 2, 2016 3:57 pm | Biotechnology, Pharmaceuticals

Medivir AB (NASDAQ: MVIR), a research-based pharmaceutical company focused on oncology and infectious diseases, announced two transactions in the first days of November that constitutes a major shake-up. On November 1, 2016, Medivir  sold its pharmaceutical subsidiary, BioPhausia AB, to Karo Pharma AB (STO: KARO), a Swedish drug developer. BioPhausia develops and sells prescription medicines in the Nordic region for various therapeutic areas. The price was $101.75 million (SEK 908 million). BioPhausia has 13 established pharmaceutical drugs with strong brand names, which generated revenues of $21.1 million (SEK 189 million) from Q3:15 through Q2:16. According to Medivir CEO’s... Read More »

Physician Medical Group Sector Heats Up

by | Nov 1, 2016 3:42 pm | Physician Medical Groups, Private Equity

Ten months into the year, and only two healthcare sectors have posted gains compared with 2015 totals. On the technology side, it’s eHealth, where deal volume is up 10% through the end of October, to 139 transactions. On the services side, it’s Physician Medical Groups. Deal volume now stands at 102 transactions, a 13% increase over last year’s 90 deals. (See chart below.) The Medicare Access and CHIP Reauthorization Act (MACRA) is one factor behind the increase in physician practice acquisitions. Although the Centers for Medicare and Medicaid Services eased some rules regarding data reporting periods, timing and payment options, the law still calls for smaller practices to have digital... Read More »

Recent Health Care Deals, week ending 10.28.2016

by | Oct 28, 2016 6:53 pm | Healthcare Market Updates

AcquirerTargetPrice University Hospitals Authority and Trust2 Oklahoma hospitals$750 million Astellas Pharma, Inc. Ganymed Pharmaceuticals AG$461.7 million Allergan plcMotus Therapeutics, Inc. $200 million HCP, Inc. 7 assisted living/memory care communities$186.3 million Melody Health Insurance Inc. Colorado Choice Health... Read More »

Netsmart Builds Out its Community Care Platform

by | Oct 28, 2016 4:29 pm | eHealth, Private Equity

Netsmart Technologies is expanding into long-term and post-acute care. The company announced its acquisition of HealthMEDX®, which develops electronic medical record (EMR) solutions for long-term and post-acute care providers, including continuing care retirement communities, assisted living, independent living, skilled nursing and home care providers. Netsmart Technologies provides post-acute electronic health records (EHRs) and technology for health and human services providers. It was acquired in March 2016 by a joint venture between Allscripts Healthcare Solutions and private equity firm GI Partners for $950 million. The addition of long-term care capabilities establishes Netsmart as... Read More »