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Microbot Medical Merges with StemCells

by | Aug 30, 2016 6:01 pm | Biotechnology, Medical Devices

Microbot Medical Ltd., an Israel-based medical device company that specializes in the research, design, development and commercialization of micro-robotics-assisted medical technologies, has merged with StemCells Inc. (NASDAQ: STEM), a biotech firm that engages in the research, development, and commercialization of stem cell-based therapeutics for the treatment of central nervous system diseases. For StemCells, this merger is a strategic alternative to its failed Phase 2 clinical study of human neural stem cells in chronic spinal cord injuries. The combined company will pursue the development of robotics-based medical devices for the treatment of cerebrospinal fluid and gastrointestinal... Read More »

Busy Day for Bacterial Infection Drugs

by | Aug 26, 2016 8:40 am | Biotechnology, Pharmaceuticals

On August 23rd, two separate deals occurred involving licenses to drug candidates for the treatment of serious infections. Productos Científicos S.A. de C.V. (PC), a leading privately-held Mexican pharmaceutical company, purchased a license to Taigexyn® in Latin America from privately-held TaiGen Biotechnology Company Limited. Taigexyn® (nemonoxacin) is a novel antibiotic for the treatment of bacterial infections, including those caused by drug resistant bacteria, which has proven its efficacy in Phase I, II and III clinical studies. According to IMS Health, Latin-America’s pharmaceutical market is projected to grow 9-12% from 2016-2020, faster than the projected 3-6% in more developed... Read More »

BioClinica Changes Hands as CRO Market Heats Up

by | Aug 25, 2016 8:25 am | Other Services, Private Equity

The market for contract research organizations (CROs) is hot in 2016. Fourteen deals have been announced so far this year, compared with five in all of 2015, 11 in 2014 and eight in 2013. The latest deal was announced on August 22, as JLL Partners and Water Street Healthcare Partners exited their investment in BioClinica, Inc. and the UK-based private equity firm Cinven stepped in, for an undisclosed price. The original investment for the global clinical trial management company, then trading under the NASDAQ ticker symbol BIOC, was announced on January 30, 2013, for $123 million (1.6x revenue and 11.8x EBITDA). That deal included the acquisition of medical imaging company CoreLab... Read More »

Pfizer Buys Medivation and More

by | Aug 24, 2016 8:15 am | Pharmaceuticals

Forget those early- to mid-stage clinical candidates. Pfizer Inc. (NYSE: PFE) jumped the line with its $13.5 billion deal for oncology drug maker Medivation Inc. (NASDAQ: MDVN). The target’s primary product is XTANDI® (enzalutamide), an androgen receptor inhibitor, the leading novel hormone therapy for the treatment of prostate cancer. Pfizer will pay $81.50 per share in existing cash, a 21% premium to Medivation’s closing stock price on Friday, August 19, 2016. This deal ends months of bidding for Medivation, which began in April with Sanofi SA’s $52.50 per share (about $9 billion) offer. Medivation turned down the overture, and Sanofi eventually raised its bid to $58.50... Read More »

Jefferson Health Adds Another Health System

by | Aug 23, 2016 6:27 pm | Hospitals

Jefferson Health System, the not-for-profit system that is part of Thomas Jefferson University Hospitals, signed a definitive agreement to integrate with Kennedy Health, a three-hospital system (607 beds) in southern New Jersey. The transaction is expected to be completed following New Jersey’s Community Health Care Assets Protection Act review process. The boards of Kennedy and Jefferson unanimously approved the agreement, which extends the shared governance model that was established with the integration of Abington Health (January 2015) and Aria Health (July 2016). Like Jefferson, Abington and Aria, Kennedy will have equal representation on the expanded Jefferson board. With the... Read More »

Specialty Pharmacy Extends Reach in Healthcare

by | Aug 19, 2016 6:46 pm | Behavioral Health Care, eHealth, Other Services, Private Equity

Genoa, a QoL Healthcare Company, a leading behavioral health specialty pharmacy company, has acquired the behavioral health and residential care services division of Advanced Care Pharmacy Services, including 13 of its pharmacies in Michigan. Genoa is a portfolio company of Advent International. In November 2015, Genoa acquired 1DocWay, the nation’s largest outpatient telepsychiatry provider, for an undisclosed price. Advanced Care Pharmacy Services is a privately-held Alabama-based provider of specialized pharmacy services for a variety of care settings. Genoa’s purchase, which did not disclose a price, increases its number of Michigan-based pharmacies to 24, and 325 nationally.... Read More »

Arizona Urgent Care Market Tightens

by | Aug 18, 2016 8:32 pm | Other Services, Private Equity

Banner Health just threw its hat in the ring for the title of largest urgent care operator in Arizona. The not-for-profit health system, which operates 29 hospitals in seven states, just announced its acquisition of 32 Urgent Care Extra facilities in that state, primarily around Phoenix and Tucson. The clinics will be rebranded as Banner Urgent Care and join three other urgent care centers currently run by the health system. Two of those are in Colorado, and one is in Arizona. Banner plans to have as many as 50 urgent care centers in Arizona by the end of 2017, which would make it the largest urgent care operator in the state. Banner may have some competition from two other... Read More »

Myriad Genetics Eyes GeneSight

by | Aug 18, 2016 7:04 pm | Pharmaceuticals

Myriad Genetics Inc. (NASDAQ: MYGN), which specializes in molecular diagnostics and personalized medicine, started off August with the acquisition of privately-held Assurex Health Inc., an informatics-based, personalized medicine company that specializes in pharmacogenomics, a study of the genetic factors that influence an individual’s response to drug treatments, for behavioral health and chronic pain conditions. Assurex was sold for an upfront payment of $225 million, and is also eligible to receive up to $185 million in additional performance-based milestones. The acquisition gives Myriad access to GeneSight®, one of the fasting growing diagnostic tests in a multi-billion dollar market.... Read More »