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Pharma Cozies Up to Diagnostic Labs

Pharma Cozies Up to Diagnostic Labs

by | Jan 15, 2016 9:25 pm | Laboratories, MRI & Dialysis

Last year, the Laboratory, MRI & Dialysis sector posted robust deal volume, relatively speaking. The total of 52 announced transactions was a 58% gain compared with the year before, and better than every year since 2007, when 54 deals were announced (see the chart below). Two of the deals targeting a diagnostic lab or technology were made by major pharmaceutical companies. The common thread we’re seeing as we look back in our database is that these pharma companies are gaining another entry to physician practices, like the camel getting its nose under the tent. The largest deal was OPKO Health’s (NYSE: OPK) $1.47 billion acquisition of Bio-Reference Laboratories (NASDAQ:... Read More »
Nestlé Health Buys into Microbiome Therapy

Nestlé Health Buys into Microbiome Therapy

by | Jan 15, 2016 9:24 pm | Pharmaceuticals

Nestlé Health Science, a subsidiary of Nestlé (NESN.VX), added to its portfolio of nutrition solutions, diagnostics, devices and drugs last week. The company paid $120 million to Seres Therapeutics (NASDAQ: MCRB) to develop and commercialize its product candidates now in development for the treatment of clostridium difficile (c-diff) infection and inflammatory bowel disease (IBD), outside the United States and Canada. The agreement supports the expansion of Seres’ portfolio in markets outside of the United States and Canada and gives financial support for its ongoing R&D. Seres retains full commercial rights to its entire portfolio of product candidates in the United States and... Read More »
This January Is Pharma M&A Month

This January Is Pharma M&A Month

by | Jan 14, 2016 9:37 pm | Pharmaceuticals

Halfway through the month of January 2016, 12 pharmaceutical deals have been announced, with a total of  $32.8 billion. You might think that’s a result of the annual JP Morgan Healthcare Summit that’s held every year in the second week of January.  That’s only half right. Last year, only nine pharma deals were announced the entire month of January, with six of them in the first two weeks. In 2014, there were 14 pharma deals in January, 11 of which were announced in the first two weeks. The biggest deal in the sector this month, Shire plc’s (NASDAQ: SHPG) $32 billion acquisition of Baxalta Inc. (NYSE: BXLT), was in the works long before the Summit, however. Shire... Read More »
Behavioral Health Care M&A Recap 2015

Behavioral Health Care M&A Recap 2015

by | Jan 12, 2016 8:37 pm | Behavioral Health Care, Private Equity

Behavioral health is a growing national concern, finally, and investors are responding to the growing public attention. Mergers and acquisitions in this healthcare sector rose more than 46% last year, to more than 40 transactions. The two publicly traded, pure-play companies in this area, AAC Holdings (NYSE: AAC) and Acadia Healthcare Company (NASDAQ: ACHC), lead the list of acquirers (six and five announced deals, respectively). Private equity firms were also active acquirers, including Kohlberg & Company, Revelstoke Capital Partners, Flexpoint Ford, Vestar Capital Partners and Shore Point Partners. Many PE portfolio companies have been building behavioral health care... Read More »

Managed Care M&A in 2016

by | Jan 8, 2016 9:18 pm | Managed Care

The Managed Care sector woke up in 2015 with a spate of mega deals announced in July, following the positive SCOTUS decision in King v. Burwell in late June. While Anthem (NYSE: ANTM) and Aetna (NYSE: AET) got the most press for their multi-billion bids for Cigna (NYSE: CI) and Humana (NYSE: HUM), respectively, others were making serial acquisitions. Molina Healthcare (NYSE: MOH) led the sector with eight deals in 2015. All its targets were Medicaid business carve-outs from larger entities, stretching from Washington state to Illinois, Michigan and Florida. Centene Corp. (NYSE: CNC), which also focuses on under-served and uninsured populations, made news with its $6.8 billion acquisition... Read More »

Charles River Buys WIL Research

by | Jan 7, 2016 8:51 pm | Laboratories, MRI & Dialysis

Charles River Laboratories International, Inc. (NYSE CRL) started the year off with the acquisition of WIL Research, which provides safety assessment, contract development and manufacturing (CDMO) services to biopharmaceutical, agricultural and industrial chemical companies worldwide. The purchase price was approximately $585 million in cash. WIL Research will join Celsis International Ltd., acquired in July 2015 for $212 million, in Charles River’s growing global business. Celsis provides rapid bacterial detection systems for quality control testing in the biopharmaceutical and consumer products industries. This acquisition will grow its global presence, especially in Europe. It will also... Read More »

Almost Family Adds to its In-Home Assessment Segment

by | Jan 6, 2016 8:23 pm | Home Health & Hospice

Home health care is still a hot sector going into 2016, as more health care providers and investors stay on the hunt for quality targets that provide low-cost care to post-acute patients. Almost Family, Inc. (NASDAQ: AFAM) kicked off the year with its acquisition of Long Term Solutions, Inc., which provides in-home nursing assessments for the long-term care insurance industry. The $37 million price includes $20 million in cash, a $6 million note payable, plus $11 million of AFAM common stock. LTS will join Ingenios Health Co., acquired in July 2015 for approximately $13.3 million, in AFAM’s rapidly developing Health Care Innovations Segment. Ingenios Health’s technology enables... Read More »

Q4:15 Health Care Deals Meet Last Year’s Record

by | Jan 6, 2016 8:09 am | Healthcare Market Updates

Health care deal volume in last year’s fourth quarter set a record, with 356 transactions. In 2015, fourth quarter deal volume now equals that total, and will probably inch higher in the coming weeks as more deals come in and are added to the database. The upshot: We expect Q4:15 to set a new record, at least for fourth-quarter deal activity. (Last year’s momentum carried over to the first quarter of 2015, when 366 deals were announced, so Q4:15 isn’t an all-out record quarter.) Spending in the fourth quarter did set a new record, for any previous quarter. Committed spending now stands at $201.9 billion for the last three months of 2015, up 1% compared with the third... Read More »
Hospital M&A in 2016

Hospital M&A in 2016

by | Jan 5, 2016 9:57 pm | Hospitals

Mergers and acquisitions in the hospital sector had a good year in 2015, with 101 deals currently on record. That’s virtually equal to last year’s 99 transactions, and close to the most recent high of 107 deals in 2012. These numbers change, of course, as some deals that reached the definitive agreement stage eventually fall apart in subsequent months, or even years. At least two such deals had to be removed from our 2015 numbers, when agreements unraveled. The Federal Trade Commission is looking hard at a few others, but those wheels turn slowly and the challenged parties are still moving forward with their transactions. Looking ahead to 2016, the transactional landscape... Read More »