Cigna Sells Medicare Assets to Health Care Service Corporation for $3.7 Billion
Cigna has announced the sale of its Medicare Advantage, Cigna Supplemental Benefits, Medicare Part D and CareAllies businesses to Health Care Service Corporation (HCSC) for a total transaction value of approximately $3.7 billion. HCSC is the United States’ largest customer-owned health insurer with nearly 17.5 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. HCSC was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975. Centerview Partners LLC is acting as a financial advisor to Cigna. Morgan Stanley & Co. LLC provided additional financial advice. Wachtell, Lipton, Rosen & Katz... Read More »
Roche Acquires Carmot Therapeutics for $2.7 Billion
Carmot Therapeutics Inc. announced on December 4 that it entered into a definitive merger agreement to be acquired by Roche Holding AG at a purchase price of $2.7 billion upfront and the potential for $400 million in milestone payments. Carmot Therapeutics is a biotechnology firm with injectable dual GLP-1/GIP receptor agonists and an oral GLP-1 drug in clinical development. The biotechnology company filed to go public in November 2023. Roche Holding AG, commonly known as Roche, operates in the pharmaceuticals and diagnostics businesses worldwide. The company’s headquarters are located in Basel, Switzerland. According to its 2022 annual report, Roche’s net sales... Read More »
Ajinomoto Acquires Forge Biologics for $620 Million
Ajinomoto Co., Inc. and Forge Biologics announced on November 13 that they have entered into a definitive agreement by which Ajinomoto will acquire Forge Biologics in an all-cash deal for $620 million. Forge Biologics is a viral vector and plasmid contract development and manufacturing organization (CDMO) and clinical-stage therapeutics company, enabling access to potentially life-changing gene therapies by bringing them from concept to reality. All development and manufacturing is done at the Hearth, Forge Biologics’ 200,000 square-foot custom-designed cGMP facility in Columbus, Ohio, where the CDMO has more than 300 employees. Ajinomoto Co. is a global manufacturer of... Read More »
Kohlberg to Acquire Majority Stake in Worldwide Clinical Trials
An affiliate of Kohlberg & Company, LLC has entered into a definitive agreement to acquire a majority stake in Worldwide Clinical Trials (WCT), in partnership with WCT’s management team. Following the sale to Kohlberg, WCT’s former owner, The Jordan Company, will retain a meaningful minority equity stake in the company. WCT is a full-service contract research organization (CRO) focused on CNS, cardiovascular, metabolic, immune-mediated inflammatory disorders, oncology and rare diseases. Its global footprint spans nearly 60 countries with more than 3,200 team members. Kohlberg & Company LLC is a private equity firm specializing in add-on acquisitions, follow-on acquisitions,... Read More »Schedule a demo
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