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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 »REIT Buys Rehab Hospital
Carter Validus Mission Critical REIT II teamed up with Vibra Healthcare to acquire Vibra Rehabilitation Hospital of Rancho Mirage. Vibra Rehab is under construction to become a 40,688-square foot, 50-bed inpatient rehabilitation hospital. Vibra Healthcare currently operates more than 40 specialty acute care hospitals and outpatient physical therapy centers with more than 2,000 beds. Construction costs are budgeted at approximately $27.6 million to be funded by CVMC REIT II, and the purchase price is $9,466,287, bringing the transaction total to approximately $37.1 million. The facility is 100% leased to Vibra Rehabilitation Hospital of Rancho, LLC for a 16-year term beginning 30 days from... Read More »MedAssets-Precyse Adds Equation
Pamplona Capital Management is building out its healthcare data services. In November 2015, the firm spent $2.7 billion to acquire publicly traded MedAssets, Inc., which served four out of every five hospitals in the United States with technology-enabled financial products and services. Once it spun off the Spend and Clinical Resource Management segment to VHA-UHC Alliance (now called Vizient), MedAssets’ Revenue Cycle Management segment with Precyse, another portfolio company, to offer end-to-end RCM and HIM solutions. Now MedAssets-Precyse, as it’s known, is adding Equation, a Utah-based financial and clinical healthcare analytics and consulting company. Now that... Read More »CROs are back in style for M&A
Contract research organizations (CROs) are changing hands again, all over the world. Since 2010, we’ve recorded 63 transactions in total, with six announced in 2016 already. That’s a strong showing compared with five CRO deals for all of 2015, but not nearly on pace to surpass the 19 deals posted in 2014. Total combined spending, based on the 14 deals with prices disclosed, was $6.5 billion. The largest by far, at $3.9 billion, was for Pharmaceutical Product Development, acquired by then-privately held The Carlyle Group (now NASDAQ: CG). A majority of the deals (63%) were made by other CROs, compared with 16% by private equity firms, the second largest acquirer category.... Read More »eHealth Deals in Q1:16
Merger and acquisition activity edged up in the first quarter, up 17% to 35 transactions compared with the fourth quarter. The first quarter activity made up 27% of the 132 deals announced in the previous 12 months. Investor interest in this sector remains strong, particularly for revenue cycle management programs and data analytics technologies that help health care providers across the care continuum become more efficient and cut costs. Read More »Arbor Pharma Targets ‘Alcohol Use Disorder’ Drug
Specialty pharma company Arbor Pharmaceuticals has acquired XenoPort, Inc. (NASDAQ: XNPT), maker of Horizant, a potential treatment for patients with “alcohol use disorder.” XenoPort develops and commercializes a portfolio of product candidates for the treatment of neurological and other disorders in the United States. The company has entered into a clinical trial agreement with the National Institute on Alcohol Abuse and Alcoholism. Arbor will pay $7.03 per share in cash, or a total equity value of approximately $467 million. Centerview Partners is serving as exclusive financial advisor to XenoPort, and Weil, Gotshal & Manges LLP is serving as legal advisor to XenoPort.... Read More »New MainStream Adds Constellation Behavioral
Constellation Behavioral Health, LLC became the fourth healthcare services company in New MainStream Capital’s portfolio on May 19. Constellation joins Anne Arundel Dermatology, MCCI Medical Group and Suncrest Home Health. Based in Mill Valley, California, Constellation offers specialized inpatient and outpatient treatment programs for addiction, mental health and co-occurring behavioral health disorders. Founder and CEO William Morrison will retain a minority stake. Constellation operates two facilities in California: Alta Mira and Bridges to Recovery. Alta Mira is a 30-bed facility in Sausalito, California with 30,000 square feet. Bridges to Recovery is a 12-bed facility in Los... Read More »Schedule a demo
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