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Medtronic Leads Medical Device M&A in 2015

by | Nov 23, 2015 8:30 am | Medical Devices

The Medical Device sector has experienced some ups and down, as M&A goes. Last year, the sector posted 111 transactions and $85.6 billion in spending, which was an 8% and 620% improvement, respectively, over 2013’s performance. This year doesn’t look like a knock-out year for spending, with a sector total of just $36.2 billion as of November 20. Deal volume could still reach last year’s levels, since it stands at 103 deals as of that date. Medtronic plc (NYSE: MDT) has been the busiest acquirer by far, with 10 deals announced. Seven of those disclosed prices, totaling $1.25 billion through November 20. Here’s our list of the top Medical Device deals to date.... Read More »

Apollo Global Buys 8-Hospital System

by | Nov 20, 2015 8:00 am | Hospitals, Private Equity

Warburg Pincus made a grand exit from RegionalCare Hospital Partners, its portfolio company since its founding in 2009. RegionalCare owns and operates eight non-urban hospitals, two in Alabama, and one each in Arizona, Connecticut, Iowa, Montana,Ohio and Texas. The buyer, Apollo Global Management LLC, paid an undisclosed amount for the 1,027-bed health system. The deal is expected to close by the end of 2015. Read More »

CONMED Boosts Outlook with SurgiQuest Deal

by | Nov 19, 2015 8:00 am | Medical Devices

CONMED Corporation (NASDAQ: CNMD), a medtech company known for its minimally invasive medical instruments and systems used in othorpedics and general surgery, announced its acquisition of privately held SurgiQuest, Inc., for $265 million on November 16. Just a few weeks earlier, CONMED CEO Curt Hartman acknowledged that CNMD third quarter earnings were weaker than expected in export markets and general surgery. That may be remedied with SurgiQuest’s AirSeal® System, the first integrated access management technology for use in laparoscopic and robotic procedures. Published clinical data demonstrates that AirSeal leads to shorter procedure times and reduced post-operative pain. CONMED... Read More »

Home Health & Hospice M&A Picks Up in November

by | Nov 18, 2015 8:00 am | Home Health & Hospice

Only halfway through the month, and November is already the year’s second-busiest month for M&A in the Home Health & Hospice sector. Six announced deals may not seem like a lot, but November’s total so far beats all but January 2015, which had 11 announcements (a few carried over from the fourth quarter, at that). Prices for three of the six November deals now total $108.7 million. Five of the six acquirers are publicly traded companies that have been buying throughout the year. We’ll have complete details on who’s buying what in our Health Care M&A Report, Fourth Quarter 2015. AcquirerTargetPrice LHC Group, Inc. Nurses Registry and Home Health Corp.$5.7... Read More »

Big Year for Billion-Dollar Health Care Deals

by | Nov 16, 2015 8:30 am | Healthcare Market Updates

The year isn’t over yet, but it’s time to gather some stats for our year-end issue. It’s already fair to say that there were more billion-dollar-plus health care transactions announced this year than at any time since we began keeping records, in 1995. So far, we’ve recorded 50 billion-dollar-plus transactions. Through November 13, their total is $333.3 billion. Even as busy as 2014 was for healthcare M&A (a record-breaker in deals and dollars), just 46 billion-dollar transactions were recorded, for a total of $325.2 billion. (Note: Beginning in Q3:12, only upfront payments were recorded as the price of the deal, without contingent payments. The data below has been adjusted accordingly... Read More »

Boston Scientific Buys Interventional Radiology Business

by | Nov 13, 2015 10:00 am | Medical Devices

The medical device sector just keeps plugging along with its mergers and acquisitions, with four announcements already in November. One was Boston Scientific Corporation (NYSE: BSX), which announced its acquisition of the interventional radiology business of CeloNova Biosciences, a global developer and manufacturer of endovascular and interventional cardiology technologies. The price was $70 million upfront, plus additional payments contingent on regulatory and sales milestones. BSX is taking on CeloNova’s Embozene Tandem Drug-Elutable Microspheres, which can be embedded with drugs used to treat liver cancer, and other oncology products. CeloNova has received an Investigational... Read More »

St. Michael’s Medical Center Saga Ends

by | Nov 13, 2015 8:00 am | Hospitals

Way back in December 2012, Prime Healthcare Services signed a letter of intent to acquire Trinity Health subsidiary, St. Michael’s Medical Center, then a 147-bed acute care hospital (down from 259 beds in 2010), in Newark, New Jersey. The parties signed a definitive agreement in February 2013. As usual, getting regulatory approval from the New Jersey Department of Health and the State Attorney General took a while. Too long, in fact. In April 2015, with the deal still not approved, a Navigant Consulting report suggested several healthcare facilities in the city be shut down or consolidated, which caused several campaigns and protests on St. Michael’s behalf. On August 10, 2015,... Read More »

2015: A Big Year for Billion-Dollar Health Care Deals

by | Nov 11, 2015 8:08 am | Healthcare Market Updates

The year isn’t over yet, of course, but it’s time to begin gathering some stats for our year-end issue. It’s already fair to say that there were more billion-dollar-plus health care transactions announced this year than at any time since we began keeping records, in 1995. So far, we’ve recorded 49 billion-dollar-plus transactions. Through November 10, their total is $330.6 billion. Even as busy as 2014 was for healthcare M&A (a record-breaker in deals and dollars), just 46 billion-dollar transactions were recorded, for a total of $325.2 billion. We’ll have more in the Health Care Deal News newsletter on Monday, November 16. Stay tuned. Read More »