Strong Spending on Healthcare Deals in February

Strong Spending on Healthcare Deals in February

by | Mar 8, 2019 3:59 pm | Healthcare Market Updates | 0 comments

On the dollar side, February 2019 looks hale and hearty with a combined total of $32.7 billion. The majority of that comes from one deal, not surprisingly. GE Healthcare’s (NYSE: GE) sale of its biopharma division to Danaher Corp. (NYSE: DHR) for $21.4 billion accounts for 65% of the month’s spending. Without it, the total would be $11.3 billion—still higher than the $9.7 billion turned in a year ago. The Biotechnology sector is driving a lot of spending this years, as we noted in the story on page 1. Three of the four billion-dollar-plus deals announced in February targeted biotech companies. The fourth, at $3.4 billion, came from Johnson & Johnson’s (NYSE: JNJ) acquisition of Auris... Read More »
NeoGenomics Buys Oncology Lab Genoptix

NeoGenomics Buys Oncology Lab Genoptix

by | Oct 26, 2018 2:43 pm | Laboratories, MRI & Dialysis | 0 comments

It’s been two years since NeoGenomics, Inc. (NASDAQ: NEO) announced an acquisition, but now the time clock has been reset. On October 23rd, the cancer-focused genetic testing company made public its purchase of Genoptix, Inc., a privately held clinical oncology laboratory specializing in hematology and solid tumor testing. Genoptix has well-established relationships with community oncology practices, a sales force and pathologists that are experienced in serving oncologists, and customized reports that are considered to be the gold standard among community oncologists. Oncology practices are an important, and under-penetrated, channel for promoting NeoGenomics’ capabilities in... Read More »

Cells Sell…to GE At Least

by | Jul 13, 2016 6:51 pm | Biotechnology, Medical Devices | 0 comments

GE Healthcare, a subsidiary of GE (NYSE:GE), recently announced that it had acquired a privately-held Sweden-based company, Biosafe Group SA, a developer, manufacturer and supplier of products for cell processing in the areas of adult stem cell banking. The combined biological, engineering and industrial capabilities should advance cell therapy and cellular immunotherapy GE’s interest in cellular research is not new. In January 2016, GE Ventures completed a $31.5 million co-investment with the Canadian government to create the BridGE@CCRM Cell Therapy Centre of Excellence in order to promote new technologies for the product of new cellular therapies in Toronto. Then, in April, GE Ventures... Read More »

GE Healthcare Sells Clarient Lab Business

by | Oct 26, 2015 8:59 am | Laboratories, MRI & Dialysis | 0 comments

GE Healthcare (NYSE: GE)  sold Clarient, Inc. and its wholly owned subsidiary Clarient Diagnostic Services, Inc., which provides comprehensive cancer diagnostic testing to hospitals, physicians and the pharmaceutical industry. The acquirer was NeoGenomics, Inc. (NASDAQ: NEO), which,  together with its subsidiary, NeoGenomics Laboratories, Inc., operates a network of cancer-focused testing labs providing genetic and molecular services. The price, totaling $275,200,000, consists of $80 in cash, $110 million in preferred stock at $7.50 per share, and 15 million shares of NeoGenomics common stock ($85.2 million, based on the prior-day closing price of $5.68 per share). In effect, GE Healthcare... Read More »