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MedImmune Parcels Out an Investgational Blood Cancer Candidate

by | Apr 20, 2015 4:13 pm | Biotechnology

Last week MedImmune Ltd., the biotech arm of AstraZeneca plc (NYSE: AZN), announced two placements for its investigational compound, MEDI4736. The first announcement was with Juno Therapeutics Inc. (NASDAQ: JUNO), which signed an non-exclusive agreement to test its own investigational CD19-directed chimeric antigen receptor (CAR) T cell candidates with MedImmune’s programmed cell death ligand 1 (PD-L1) immune check point inhibitor, MEDI4736, aiming for a combination therapy. No financial details were disclosed on that, but the next day, MedImmune announced a deal with a Swiss subsidiary of Celgene Corp. (NASDAQ: CELG), worth an upfront payment of $450 million from Celgene, to investigate... Read More »

Nonprofit vs.For-profit Hospital M&A Trends, 2005 to 2014

by | Apr 20, 2015 4:09 pm | Hospitals

We get a lot of requests for updates to a chart of our data that appeared in the New York Times in August 2013. The accompanying story was about the growing consolidation of for-profit and not-for-profit systems. This week, we oblige our readers with an update to that data. And while for-profit consolidation was all the rage in the summer of 2013, it’s the fall-out from that wave of consolidation that is driving the smaller deals in 2014 and into 2015.  Read More »

NorthStar Retires $640 Million to 15 CCRCs

by | Apr 20, 2015 4:03 pm | Long-Term Care

Fountains Senior Living Holdings LLC is selling 15 continuing care retirement communities (CCRCs) in 11 states. NorthStar Healthcare Income, Inc., a public, non-traded REIT, has plunked down $640 million for the portfolio, which consists of six entrance-fee and nine rental CCRCs, total 3,637 units. Watermark Retirement Communities will continue as the day-to-day operator of the CCRCs. The deal is expected to close around June 1, at which time NorthStar will lease the entrance fee properties to affiliates of The Freshwater Group Inc., pursuant to a master net lease. The rental properties will be held under a RIDEA structure, with NorthStar owning 97% and Freshwater owning 3%. Read More »

UCHealth Invests in 12 Colorado Urgent Care Centers

by | Apr 20, 2015 4:00 pm | Other Services

Adeptus Health, the largest and oldest network of freestanding emergency room facilities in the country, is selling a majority stake in all 12 of its Colorado facilities, and two more under construction. The buyer, University of Colorado Health System, plans to rebrand them as UCHealth ER. Adeptus operates more than 60 ERs in affluent areas of Arizona, Colorado and Texas, which treat patients who have commercial insurance. Free-standing ERs don’t have to accept Medicare or Medicaid, and thus, 85% of Adeptus’ revenue comes from commercial pay plans.  Under the partnership, UCHealth will hold a majority stake in Adeptus’ freestanding emergency rooms in Colorado. The centers will... Read More »

Ventas Buys Hospitals and Spins off SNFs

by | Apr 13, 2015 3:54 pm | Hospitals

Ventas, Inc. (NYSE: VTR) had a busy week, as it paid $1.75 billion for Ardent Health Services, one of the 10 largest for-profit hospitals companies in the United States, from Welsh, Carson, Anderson & Stowe. The plan is to separate Ardent’s hospital operations from its owned real estate and sell the operations to one or more newly formed entities owned by Ardent’s current management. The same day, VTR announced plans to spin off most of its post-acute and skilled nursing facility portfolio into an independently traded REIT called SpinCo, which will own 355 high-quality, triple-net leased SNFs and other healthcare assets operated by 44 private regional and local care... Read More »

Biotech Blow-Out in 2015

by | Apr 13, 2015 3:45 pm | Biotechnology

Mergers and acquisitions in the biotechnology sector are soaring, and we’ve got the data to prove it. We checked our M&A database, DealSearchOnline, to find the average price per biotechnology deal for each of the past five years. In that span, 2013 posted the highest average, nearly $629 million. We ran the same test for 2015, through April 10, and voila – of the 63 deals we’ve captured so far, 40 of them had prices. This year’s average price per biotech transaction is already $879 million—the highest since we began following this sector in 2000. Read More »

Hospital Mergers Heat Up in April

by | Apr 13, 2015 3:43 pm | Hospitals

Last week brought word that Boston Medical Center and Tufts Medical Center were moving ahead with merger talks and expect to have a deal by the end of this year. The parties announced they were exploring a merger last December. That news came two days after Massachusetts Attorney General Maura Healey and House Majority Leader Ron Mariano announced legislation that would give more power to the state’s Health Policy Commission in its reviews of hospital mergers and acquisitions. No such headaches exist in New Jersey, where Meridian Health Systems, which operates six hospitals, merged with financially troubled Raritan Bay Health Services Corp., a two-hospital system. Meridian is still in... Read More »

Optum Buys MedExpress

by | Apr 13, 2015 3:37 pm | Pharmaceuticals

UnitedHealth Group (NYSE: UNH) is still in acquisition mode. Two weeks ago its OptumRx subsidiary announced a $1.0 billion deal for pharmacy benefits manager Catamaran Corp. (NASDAQ: CTRX). Last week, another subsidiary, Optum, reached a deal for MedExpress, a privately held chain of full-service neighborhood medical centers in 11 states. Financial terms were not disclosed, but MedExpress plans to open another 25 to 30 centers in 2015. Optum plans to integrate its care management and clinical programs with MedExpress’ services. Read More »