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Kindred and Select Medical Swap LTACs

by | Feb 23, 2016 2:22 pm | Hospitals

It’s getting so you can’t tell the players without a program. On February 18, Kindred Healthcare Inc. (NYSE: KND) and Select Medical Holdings Corporation (NYSE: SEM) announced they were trading nine long-term acute care (LTAC) hospitals in various markets. Kindred got the larger part of the trade, acquiring the operations of five of Select Medical’s LTACs for a total of 233 beds. They are located in Indianapolis, Indiana; San Antonio, Texas; Houston, Texas; Denver, Colorado; and Colorado Springs, Colorado. The hospital in Houston occupies the sixth and seventh floors of the Houston Medical Center. Select Medical took on four of Kindred’s LTACs with a combined total... Read More »

Recent Health Care Deals, week ending 02.19.2016

by | Feb 22, 2016 8:30 am | Healthcare Market Updates

AcquirerTargetPrice IBM Watson Health Truven Health Analytics$2.6 billion HCA North Texas Forest Park Medical Center at Frisco$96.25 million National owner/operatorAssisted living/memory care community$13.6 million Welltower Inc.Aston Gardens portfolio$555 million Stryker CorporationPhysio-Control International, Inc.$1.28... Read More »

Wipro Ltd. Executes on Its Growth Strategy

by | Feb 19, 2016 8:00 am | Managed Care, Private Equity

Acquiring, servicing and retaining customers is now a critical part of the health insurance business. That’s why global IT and business services company Wipro Limited (NYSE: WIT) agreed to pay $460 million for HealthPlan Services, a portfolio company of Water Street Healthcare Partners. HealthPlan Services offers a fully integrated business-process-as- a-service (BPaaS) solution to health insurance companies in the individual, group and ancillary markets. HealthPlan Services provides U.S. payers with a diversified portfolio of health insurance products delivered through its proprietary technology platform. It connects its payer clients to more than 40 public exchanges and more than... Read More »

IBM Watson Health Buys Truven Health Analytics

by | Feb 18, 2016 5:25 pm | eHealth, Private Equity

Big Healthcare Data just got bigger. IBM (NYSE: IBM) has spent some $4 billion in the past 12 months to build out its Watson Health division. The latest and largest deal is for Truven Health Analytics, for $2.6 billion. Truven Health provides cloud-based healthcare data, analytics and insights to more than 8,500 clients, including federal and state government agencies, health plans, hospitals, clinicians and life sciences companies. Veritas Capital is making a good $1.35 billion on the sale of Truven, which it acquired in 2012 for $1.25 billion, from Thomson Reuters Corp. (NYSE: TRI). Truven Health’s extensive data set will be integrated into IBM’s Watson Health Cloud, creating... Read More »

Mylan Bags Meda AB on the Second Try

by | Feb 18, 2016 8:00 am | Pharmaceuticals

The pharmaceutical M&A sector has gotten very quiet in February, with just five deals announced as of Feb. 17. Compared with the 11 announced in January 2016 and 13 announced in February 2015, deal making has definitely slowed down. So it was good news to hear that Mylan NV (NASDAQ: MYL) agreed to pay $9.9 billion, including debt, to acquire Swedish generic drug maker Meda AB (STO: MEDA). Back in 2014, when Mylan was still based in the United States and known as Mylan, Inc., it made an unsuccessful run at Meda. Of course, late last year it carried on an all-out hostile takeover battle for Perrigo Company (NYSE: PRGO) that proved unsuccessful in the end. This time around, the Meda... Read More »

Another Billion-Dollar Stryker Deal

by | Feb 17, 2016 3:19 pm | Medical Devices, Private Equity

It’s been one-a-week for Stryker Corporation (NYSE: SYK). The medical device maker announced two deals in February, including one for $2.77 billion. That was for Madison Dearborn Partners’ portfolio company, Sage Products LLC, which makes and distributes disposable products aimed at reducing hospital-acquired infections, primarily in the ICU and Med/Surg unit. The third week in February brought another big announcement, the acquisition of Physio-Control International, Inc. for nearly $1.3 billion, from Bain Capital. Physio-Control makes and markets monitors, defibrillators and CPR-assist devices, as well as data management and support services. This acquisition complements... Read More »

CryoLife Refocuses on Cardiac Surgery Devices

by | Feb 12, 2016 4:09 pm | Medical Devices

Acquisitions often lead to divestitures, and that’s just what happened when CryoLife Inc. (NYSE: CRY) paid $130 million for privately held On-X Life Technologies Holdings, Inc. in December 2015. The medical device maker also processes and distributes implantable human tissues for use in cardiac and vascular surgeries, while On-X Life specializes in mechanical heart valve replacements. That deal strengthened CryoLife’s focus on aortic and mitral valve surgery, as it more than doubled the size of its U.S. cardiac sales force. That made its Hemodialysis Reliable Outflow Graft (HeRO) product line less vital to its core business, and so the HeRO product line was sold to Merit... Read More »

Busy Week for Home Health Care M&A

by | Feb 11, 2016 9:42 pm | Home Health & Hospice

Nine deals in one week is more than we see in one month, typically. Although most did not disclose prices, here is the breakdown on the week’s Home Health & Hospice transactions. AcquirerTargetPrice St. Joseph Health26 Nurse Next Door franchisesN/A Addus HomeCare CorporationSouth Shore Home Health Services, Inc. N/A PSA HealthcareCare Unlimited Inc. N/A MultiCare Health SystemHospice of Kisap CountyN/A Kindred Healthcare, Inc. Samaritan Care Hospice of Osceola, Inc. N/A Kindred Healthcare, Inc. HopeBridge Hospice, LLCN/A Kindred Healthcare, Inc. 9 home health offices in South Carolina$18 million One Equity PartnersAll Metro Helth Care Services, Inc. N/A Amedysis, Inc. Associated... Read More »

Stryker Strikes Two Deals in Two Weeks

by | Feb 10, 2016 8:42 pm | Medical Devices, Private Equity

Medical device maker Stryker Corporation (NYSE: SYK) announced its second deal in two weeks, buying the neurosurgery tools portfolio of Synergetics USA Inc. for an undisclosed sum. The portfolio consists of Synergetics’  Malis generator, Spetzler Malis disposable forceps, and Stryker’s existing Sonopet tips and RF generator. The products will complement Stryker’s neuro, spine and ear-nose-throat business, as well as expand its neurosurgical offerings. The first deal, announced on February 1, was Stryker’s nearly $2.8 billion acquisition of Sage Products, LLC, a portfolio company of Madison Dearborn Partners, LLC. Sage develops, manufactures and distributes... Read More »