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Recent Health Care Deals, week ending 05.20.2016
AcquirerTargetPrice Pfizer Inc. Anacor Pharmaceuticals, Inc. $5.2 billion Medtronic plcSmith & Nephew's gynecology business$350 million Welsh, Carson, Anderson & StoweInnovAge$196 million Magellan Health, Inc.Armed Forces Services Corporation$117.5 million Blue Wolf CapitalNational Home Health Care Corp.$103 million Aedifica SASaksen Weimar Care Residence$9.02 million... Read More »Medtronic’s Surgical Strikes
The Irish medical device maker Medtronic plc (NYSE: MDT) announced two strategic investments on May 18. The first wasn’t an acquisition, but could be a precursor to one. The company agreed to buy 15 next-generation robotic spinal systems from Israel-based Mazor Robotics Ltd. In addition, Medtronic will purchase newly issued securities representing 4% of Mazor’s outstanding shares for $11.9 million, and will have the opportunity to buy another 6%, plus a further 5%, in future allotments. The two companies together will promote Mazor’s spinal system, which helps surgeons plan and execute surgeries. If the initial phase of the agreement meets expectations by the end of... Read More »Pfizer: We’re So Over Allergan
Within hours after Pfizer (NYSE: PFE) and Allergan plc (NYSE: AGN) called off their $160 billion merger on April 26, 2016, Allergan announced a new acquisition. It’s taken a few weeks, but Pfizer is finally moving on. Anacor Pharmaceuticals, Inc. (NASDAQ: ANAC) is the target, based in Palo Alto, California. Anacor Pharmaceuticals focuses on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. Its flagship asset is crisaborole, a differentiated non-steroidal toipcal PDE4 inhibitor with anti-inflammatory properties. Its currently under review by the FDA for the treatment of mild-to-moderate atopic dermatitis, also... Read More »Mylan Adds Topical Pharmaceuticals Business
Mylan NV (NASDAQ: MYL) still has money to spend, following its $9.9 billion deal for Swedish drug maker Meda AB in February. On Friday, May 13, RoundTable Healthcare Partners announced that its portfolio company, Renaissance Acquisition Holdings, LLC, had agreed to sell its non-sterile topical drug business to Mylan for $950 million, plus additional contingent payments of up to $50 million. The topical division is a specialty pharmaceutical business focused on manufacturing, developing, sales and marketing of branded and generic drug products. The acquisition brings a complementary portfolio of approximately 25 branded and generic topical products, an active pipeline of approximately 25... Read More »Biotechnology Deals in Q1 2016
Biotechnology deal activity picked up in the first quarter of 2016, rising 43% versus the previous quarter, to 30 deals. The total is 24% of the 127 deals announced in the previous 12 months. Biotechnology targets range from large, publicly traded companies to small startups, or established lines of products to licenses or rights to technologies and drugs in various phases of development. Research collaborations are included, when an acquirer pays an upfront fee for the rights to a promising compound, and picks up the R&D, regulatory and commercialization costs. In the first quarter, 19 of the 30 transactions involved the purchase of an entire company, while seven involved the rights... Read More »Recent Health Care Deals, week ending 05.13.16
AcquirerTargetPrice Mylan N.V. Renaissance's generics business$950 million Daiichi SankyoLicense to Heartcel™ in Japan$14.28 million Incyte CorporationAriad's European operations$140 million Chiesi Farmaceutici SpACardiovascular drug line$260 million Vifor Frensius Medical Care Renal Pharma Ltd.Rights to RAYALDEE®$50... Read More »Behavioral Health Care M&A in Q1:16
The HealthCare M&A Report First Quarter 2016 is about to be published, and here is a look at the Behavioral Health Care sector. As you can see, deal activity decreased in the first quarter, down 38% to eight transactions. The quarter’s total represented 21% of the 39 transactions announced in the past 12 months and virtually no increase over the previous quarter. Behavioral health care facilities and programs are largely community-based, and transactions are often conducted between private parties and thus, not reported publicly. Still, this category is seeing some consolidation from private equity firms as well as strategic buyers, who are building platforms across state and national... Read More »Pharma M&A Is all about Options
The days of mega-mergers in the pharmaceutical sector aren’t necessarily over, but those deals will be fewer and farther between, going forward. Nearly 60 deals have been announced in 2016 through the middle of May, and just 17 have an entire company as the target. The largest, so far, is Shire’s (NASDAQ: SHPG) $32 billion takeover of Baxalta (NYSE: BXLT), announced in January. The rest are either collaborations on product candidates, rights or license deals for marketed products or clinical-stage candidates, even the rights to royalties. That’s Royalty Pharma’s $1.1 billion deal for the royalty interest in Xtandi, which is being sold by a co-owner, UCLA, where... Read More »Reporter’s Notebook: PE Healthcare Investor Forum 2016
The first-ever Private Equity Healthcare Investor Forum took place in New York City on April 27, 2016 at the Westin Times Square. We were invited to attend by the sponsor, Private Equity International. The conference was originally planned to span two days, but was cut down to a single, panel-crammed event a few weeks before. Attendance was spotty, and at times it seemed the bulk of the audience were all speakers. Don’t get us wrong, we’d go again, if invited. The most interesting panel, in our opinion, was moderated by Richard Zall, partner and chair of Proskauer’s Health Care Department. Titled “When healthcare meets private equity: analyzing investor trends and... Read More »Schedule a demo
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