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Medical Device Sector Picks Up in Q3:16

by | Sep 27, 2016 8:33 pm | Medical Devices

In the first eight months of 2016, 80 transactions were announced in the Medical Device sector, making it unlikely this year’s deal volume would surpass last year’s total of 114 deals. As the third quarter wraps up, the sector’s deal volume has reached 90 deals: 31 in Q1, 27 in Q2, and 32 as of September 27th in Q3. If that deal making pace continues through Q4, at 2016’s average rate of 30 deals a quarter, we’ll see a 5% increase in deal volume since last year. September’s medical device deals include interventional device maker Boston Scientific Corporation (NYSE: BSX), which acquired EndoChoice Holdings Inc. (NYSE: GI), maker of endoscopic imaging systems, devices and infection control... Read More »

MACRA Is Spooking Physician Medical Groups

by | Sep 26, 2016 2:13 pm | Physician Medical Groups

With a full quarter left to go in 2016, mergers and acquisitions in the Physician Medical Group sector have caught up to last year’s total number of transactions. In 2015, 89 deals were announced. Through September 26, 2016, the sector’s deal volume has reached 88. One factor contributing to the increase in activity is the Medicare Access and CHIP Reauthorization Act (MACRA) passed in April 2015. The bipartisan bill took aim at physician practices treating Medicare Part B patients, and awarded those that went with a value-based reimbursement schedule versus those that stayed with the fee-for-service model. The true impetus, however, came from the aggressive implementation... Read More »

Preliminary Data: Q3 M and A

by | Sep 23, 2016 6:54 pm | Healthcare Market Updates

There’s still one week left to go in the month of September, and the third quarter, but the trends have already established themselves. Merger and acquisition activity in health care dropped 20% compared with the previous quarter, down to 331 deals compared with 415 in Q2:16. The third quarter also pales in comparison to the same quarter a year earlier, when 411 deals were posted (-19%). Even with a week to go, it’s obvious that deal making has slowed considerably and likely won’t recover to those levels. Spending was also much lower than in the previous quarter, and the year-ago period. At the moment, $45.9 billion is on the books for Q3:16, down 48% compared with... Read More »

Allergan Is Bullish on Biotech

by | Sep 22, 2016 5:14 pm | Biotechnology, Pharmaceuticals

Ever since Allergan (NYSE: AGN) completed the $40.5 billion sale of its generics business to Teva Pharmaceutical Industries (NYSE: TEVA) on August 2, the pharma giant is targeting biotech companies with a vengeance. In September alone (and we’re only talking about three weeks at this point), the company has announced four deals, totalling $1.28 billion. Year-to-date, Allergan has announced nine transactions for a total of $1.67 billion, more than Pfizer’s (NYSE: PFE) seven deals but far behind the $19.8 billion Pfizer committed to those transactions. (Pfizer’s biggest deal this year, the $13.5 billion acquisition of Medivation (NASDAQ: MDVN), was announced in August.)... Read More »

Allergan Adds Tobira to Its GI Pipeline

by | Sep 20, 2016 6:36 pm | Biotechnology, Pharmaceuticals

Allergan plc (NYSE: AGN) shows no signs of slowing its acquisition pace this year, and just solidified its lead in therapeutics for nonalcoholic steatohepatitis (NASH), an incurable disease affecting approximately 5% of the U.S. population. The pharma giant announced its acquisition of Tobira Therapeutics Inc. (NASDAQ: TBRA), This transaction marks the company’s eighth in 2016, and $1.63 billion spent in upfront payments alone since January. Tobira came with an upfront purchase price of $533.6 million, or $28.35 per share, and up to $49.84 per share in Contingent Value Rights that may be payable based on the successful completion of certain milestones, for a total consideration of up to... Read More »

Horizon Pharma Buys Raptor

by | Sep 16, 2016 8:31 am | Pharmaceuticals

For the week ending September 16, 2016, a combined $1.01 billion was spent on three pharmaceutical deals, one of which is also the largest pharmaceutical deal so far in September. Horizon Pharma plc (NASDAQ: HZNP), which develops, acquires and commercializes medicines for the treatment of arthritis, pain, inflammatory and/or orphan diseases, acquired Raptor Pharmaceuticals Corp. (NASDAQ: RPTP) for approximately $800 million, or $9.00 per share. Raptor focuses on developing and commercializing transformative treatments for people affected by rare and debilitating diseases. The transaction gives Horizon global rights to PROCYSBI® delayed-release capsules, used to treat nephropathic... Read More »

Stryker’s Minimally Invasive Acquisitions

by | Sep 15, 2016 6:28 pm | Medical Devices, Private Equity

For a company that has targeted minimally invasive surgical products of late, Stryker Corporation (NYSE: SYK) has been highly visible in the acquisition arena this year. It started in February 2016. That month, the medical device giant announced three deals, totaling $2.03 billion. In April, three more acquisitions were announced, with only one disclosed price of $40.6 million. Halfway through September, the company has made two more acquisitions, for undisclosed prices. For those keeping score, that’s eight deals for approximately $4.1 billion. Stryker’s most recent deals have targeted Ivy Sports Medicine, LLC for its minimally invasive meniscal repair platform, and Restore... Read More »

Allergan Eyes Clinical-Stage Ocular Drugs

by | Sep 14, 2016 8:45 am | Biotechnology, Pharmaceuticals

Allergan plc (NYSE: AGN) just purchased privately-held RetroSense Therapeutics LLC for $60 million in an all-cash transaction, with potential regulatory and commercialization milestone payments. Based in Ann Arbor Michigan, RetroSense is a clinical-stage biotechnology company focused on novel gene therapy approaches to restore vision in those suffering from blindness. Its lead development program, RST-001, is a novel gene therapy for the potential treatment of Retinitis Pigmentosa (RP). The acquisition gives Allergan global rights to RetroSense’s lead product candidate, RST-001. In 2014, RST-001 received Orphan Drug Designation by the U.S. FDA for the treatment of Retinitis... Read More »