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Cells Sell…to GE At Least
GE Healthcare, a subsidiary of GE (NYSE:GE), recently announced that it had acquired a privately-held Sweden-based company, Biosafe Group SA, a developer, manufacturer and supplier of products for cell processing in the areas of adult stem cell banking. The combined biological, engineering and industrial capabilities should advance cell therapy and cellular immunotherapy GE’s interest in cellular research is not new. In January 2016, GE Ventures completed a $31.5 million co-investment with the Canadian government to create the BridGE@CCRM Cell Therapy Centre of Excellence in order to promote new technologies for the product of new cellular therapies in Toronto. Then, in April, GE Ventures... Read More »Recent Health Care Deals, week ending 07.08.2016
AcquirerTargetPrice Bio-Techne Corporation Advanced Cell Diagnostics$250 million Merit Medical Systems, Inc.DFINE, Inc.$97.5 million Bristol-Myers SquibbCormorant Pharmaceuticals AB$95 million Takeda Pharmaceutical Co. Ltd.License to Cx601$27.7 million Advantage Benefit SolutionsCollins Benefits Solutions,... Read More »Bristol-Myers adds to immuno-oncology portfolio
On July 5, 2016, Bristol-Myers Squibb (NASDAQ: BMY) acquired the privately-held, Sweden-based Cormorant Pharmaceuticals AB for $95 million. The driver behind this acquisition was gaining full rights to Cormorant’s HuMax-IL8 antibody program, which may result in an additional $425 million in development and regulatory milestone payments. Cormorant had acquired HuMax-IL8 from GenMab A/S in 2012 and has since taken it into development. It is a phase 1/2 monoclonal antibody that offers the potential to boost immune response and increase the effectiveness of existing cancer medicines through combination therapy. The addition of HuMax-IL8 enhances BMY’s existing pipeline of clinical candidates... Read More »Not Your Neighborhood Pharmacy
Some healthcare sectors have benefited more than others from demographic trends, the prevalence of chronic illnesses, and an abundance of drug pipelines. However, one subsector of health care services may really start cashing in. According to the 22nd Edition of The Health Care Services Acquisition Report, in 2011, there were only 6 specialty pharma acquisitions. By 2014 and 2015, there were 11 and 14, respectively. Specialty pharmacies have the resources to handle the challenging prescriptions that retail pharmacies do not. These prescriptions are generally expensive, and, according to CVS Health (NYSE: CVS), the average cost to payers and patients for a specialty medication is $3,000 per... Read More »Takeda’s triple transactions
Takeda Pharmaceutical Company Ltd. (OTCQB: TKPYY) has been busy bolstering its role as a global leader in gastroenterology. On June 8, 2016, Takeda dished out $15 million for Theravance Biopharma’s (NASDAQ: TBPH) license to TD-8954, a selective 5-HT4 receptor agonist being investigated for potential use in gastrointestinal motility disorders, including enteral feeding intolerance. Less than a month later, Takeda bought the rights to develop ATC-1906 from Altos Therapeutics for an undisclosed amount. ATC-1906 is currently in Phase 1 studies for the treatment of gastroparesis and its symptoms. Then, just four days later, on July 5 2016, Takeda paid approximately $28 million to TiGenix N.V.... Read More »Sheridan’s hot start to July
Sheridan, the Physicians Services division of AmSurg Corp (NASDAQ: AMSG), came in hot the first week of July with three announced acquisitions in Florida. On July 5th, AllegiantMD, Inc. joined Sheridan’s existing roster of over 300 fellowship-trained, board-certified radiologists, who cover 150 facilities across 22 states. Based in Tampa, Florida, AllegiantMD is a privately-held provider of on-site and remote-read subspecialized radiology services. The combination will account for approximately six million radiology interpretations on an annualized basis, primarily delivered through exclusive contracts with hospitals and imaging centers. On July 6th, Sheridan announced the... Read More »Recent Health Care Deals, week ending 07.01.2016
AcquirerTargetPrice Medtronic plcHeartWare International, Inc. $1.1 billion Mayne Pharma42 generic drugs from Teva$652 million Baptist HealthFloyd Memorial Hospital and Health Services$276 million Teladoc, Inc. HealthiestYou Corporation$152.9 million Novartivs AGLicense to 2 Xencor drug candidates$150... Read More »Baptist Health Expands in Indiana
Baptist Health, the largest not-for-profit system in Kentucky, added a ninth hospital to its system in June. The Floyd County Commissioners, Floyd County Council and Floyd Memorial Board of Trustees all voted to sell Floyd Memorial Hospital and Health Services to Baptist Health. Baptist Health currently includes eight hospitals with 2,400 licensed beds, care centers, physician offices and health facilities. Its subsidiary, Baptist Health Plan, provides health insurance and managed-care services to more than 300,000 members in Kentucky and other states. Floyd Memorial is a 211-bed acute care hospital with more than 600 physicians on staff. The $276 million price represents $75 million at... Read More »Schryver Nabs Another Lab
If it’s true that 70% or more of medical decisions are made based on diagnostic testing results, then one can assume that the Laboratory, MRI & Dialysis sector is at the crossroads where fee-for-service and value-based reimbursements meet. Although this sector isn’t the largest in transaction volume and dollars spent relative to other markets, mergers and acquisition activity has picked up in 2016, as these lines of business adjust to changes in technology. Since 2014, there have been 104 acquisitions, and $21.8 billion (of disclosed prices) spent in the Laboratory, MRI & Dialysis sector (33 in 2014; 52 in 2015; and 19 as of June 30, 2016). The largest players buying up laboratory... Read More »Schedule a demo
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