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Lincare Sells Its Specialty Pharmacy Businesses
Lincare Holdings Inc., the nation’s largest home health provider of oxygen and respiratory services, is selling its specialty pharmacy businesses, Acro Pharmaceutical Services, LLC and Community Pharmacy Services, LLC. Acro operates in 50 states, while Community Pharmacy Services serves a 340B drug program in the Philadelphia area. These businesses generated revenue of approximately $206 million in the fiscal year ended December 31, 2015. The acquirer is Premier Inc. (NASDAQ: PINC), a healthcare improvement company, agreed to pay an aggregate of $75 million in cash. The businesses generated revenue of approximately $206 million in the fiscal year ended December 31, 2015, for a... Read More »Recent Health Care Deals, week ending 06.10.2016
AcquirerTargetPrice Aspen Global Inc.Rights to 7 anesthesia drugs$520 million Zimmer BiometLDR Holding Corporation$1 billion Premier Inc. Lincare's specialty pharmacy business$75 million Takeda Pharmaceutical CompanyLicense to Theravance's TD-8954$15 million Merck & Co.Afferent Pharmaceuticals$500 million Meridian Behavioral HealthValhalla... Read More »Aspen Buys Rights to Anesthesia Portfolio
This isn’t a sleepy deal. AstraZeneca (NYSE: AZN) sold the ex-U.S. rights to its portfolio of seven established anesthesia medicines to Aspen Global Incorporated. Aspen Global is the holding company for Aspen Group’s (OTCBB: ASPU) international business that manages and maintains intellectual property rights, and regulatory and commercial strategies of a portfolio of specialist and branded products. The drugs are Diprivan (general anaesthesia), EMLA (topical anesthetic) and five local anesthesias (Xylocaine, Xylocard/Syloproct, Maracine, Naropin, Carbocaine and Citanest). Under terms of the agreement, AGI will acquire the commercialization rights, outside the United States, to... Read More »MEDNAX and Team Health Keep Growing
TeamHealth Holdings (NYSE: TMH) is slowly getting back in its M&A groove, after the $1.6 billion acquisition of IPC Healthcare in August 2015. The company announced its second deal in 2016 on June 1, compared with four transactions announced in the first half of 2015. The latest target is Tri-City Emergency Medical Group in Oceanside, California. Tri-City Emergency Medical Group’s 25 physicians provide emergency medical care in north San Diego, treating approximately 70,000 patients annually through staffing and management of the Tri-City Medical Center emergency department. Financial terms were not disclosed. Meanwhile, MEDNAX (NYSE: MD) is keeping up with its 2015 acquisition... Read More »LHC Group Adds Two Home Health Companies
LCH Group (NASDAQ: LHCG) added two more companies to its empire of home health, hospice, community-based services agencies and long-term acute care hospitals (LTACs). Professional Healthcare Resources in Annadale, Virginia and East Arkansas Health Holdings in Little Rock, Arkansas are now part of the fold. They are expected to produce annualized revenues of approximately $44 million, which consists of $23.3 million in home health revenue, $5.1 million in hospice revenue and $15.6 million in community-based services revenue. PHR delivers a wide range of home healthcare services, including skilled nursing, therapy, personal care services and hospice. Its licensed service area covers a... Read More »Zimmer Biomet Bolsters Its Spine Business
Zimmer Biomet Holdings, Inc. (NYSE: ZBH) strengthened its spinal business with the $1.0 billion acquisition of LDR Holding Corporation (NASDAQ: LDRH). Founded in France in 2000, LDR designs and commercializes various surgical technologies for the treatment of patients suffering from spine disorders. Its primary product offerings are the Mobi-C cervical disc replacement (CDR) device and MIVo portfolio to support lumbar and cervical fusion procedures, both of which complement Zimmer Biomet’s current portfolio. The CDR segment is one of the fastest growing within the $10 billion spine industry. Combined, Zimmer Biomet and LDR create a differentiated and comprehensive Spine portfolio.... Read More »Recent Health Care Deals, week ending 06.03.2016
AcquirerTargetPrice Jazz Pharmaceuticals plcCelator Pharmaceuticals Inc. $1.5 billion Grunenthal GmbHRights to Zurampic in Europe & Latin America$230 million Carter Validus Mission Critical REIT IIVibra Rehab Hospital of Rancho Mirage$37.1 million Senior Health Care Solutions LLCHeritage Mills Personal Care Center$2.4... Read More »Jazz Adds Cancer Contender to Its Pipeline
Dublin-based Jazz Pharmaceuticals (NASDAQ: JAZZ) came across the pond to shop for late-stage drug candidates, and ended up buying Celator Pharmaceuticals (NASDAQ:CPXX) for $1.5 billion. Celator focuses on combination therapy to treat cancer. Its lead product, VYEXOS™, has completed a Phase 3 trial for acute myeloid leukemia. VYEXOS™ complements Jazz Pharma’s clinical and commercial expertise in hematology/oncology. Jazz is paying $30.25 per share in cash. The transaction is expected to be accretive to non-GAAP adjusted EPS beginning in 2018. Read More »Six Forest Park Medical Centers All Sold
The lawsuits may go on, but the facilities that once belonged to the physician-owned chain of six hospitals In Texas are now in new hands. Each filed for Chapter 11 bankruptcy protection at different times, beginning in September 2015, and were sold in separate auctions. On February 18, Sabra Health Care REIT (NASDAQ: SBRA) unloaded Forest Park Medical Center at Frisco for $96.25 million to HCA North Texas, a subsidiary of HCA (NYSE: HCA). The REIT had paid $119.8 million to acquire the 54-bed hospital in October 2013. The hospital initially relied on out-of-network fees for procedures, but that revenue stream dried up as insurance companies created their own in-network contracts. The... Read More »Schedule a demo
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